Your Perfect Marketing Plan in 15 Steps
You need a sound marketing strategy to develop your business. When your marketing strategy is executed properly, it will help you reach unlimited customers and achieve spectacular success. So, what are the key sections that should be included in your marketing strategy?
1. EXECUTIVE SUMMARY
This section should summarize other sections of your marketing strategy. It should be completed in the end. The executive summary is there to give a quick overview of your marketing plan.
2. TARGET CUSTOMERS
Who are your target customers? In this section, you should define their age, gender, interests, wants, and needs. To launch highly targeted ad campaigns, you should know who your customers are
Your unique selling proposition (USP) is what distinguishes you from your competitors. It’s something that is unique to your company and is compelling to customers
4. POSITIONING AND PRICING STRATEGY
Your pricing should align with your positioning strategy. If you want to position your company as a premier brand, you can’t afford to sell dirt cheap items. Discuss your pricing strategy here.
5. DISTRIBUTION PLAN
How will customers buy from you? Do you intend to sell your products directly to your customers? Or will they have to buy from other retailers? This section should explain all these points.
Offers are deals that you use to entice customers. They may include money back guarantees, free trials, and discount offers.
7. MARKETING COLLATERAL
Your marketing materials include your email newsletter, website, catalogues, brochures, and business cards etc. These are the items you use to market your business.
8. PROMOTIONS STRATEGY
This section should explain how you will promote your business and reach more customers. Your promotional tactics can include press releases, print and television ads, event marketing, and online advertising.
9. ONLINE MARKETING
Your customers are now mostly online and that explains why you should have an online marketing strategy. Your online promotion strategy should have four key components: SEO strategy, keyword strategy, online advertising strategy, and social media strategy.
10. CONVERSION STRATEGY
These are the techniques you will have to employ to turn potential customers into actual customers. By showing testimonials and improving your sales copy, you will be able to boost conversions. Give a quick overview of your conversion strategies in this section.
11. PARTNERSHIPS AND JOINT VENTURES
These are the partnerships and deals you sign with other organizations. Create a list of companies who will make good partners
12. REFERRAL PROGRAMS
A good referral program will help you reach more customers. Create a referral strategy that will encourage your customers to refer you to other customers.
13. WAYS TO INCREASE TRANSACTION PRICES
The transaction price is the amount customers pay you when they buy your products or services. By increasing your transaction prices, you will be able to make more profits. In this section, you should explore ways to increase the transaction price.
14. RETENTION STRATEGY
Retaining your existing customers is easier than getting new customers. Your retention strategies can include customer loyalty programs and monthly newsletters. Briefly explain your retention strategies here.
15. FINANCIAL PROJECTIONS
Your financial projections should give an estimate of your projected revenue and expected expenses.