Here are 10 basic components to include in a Marketing Plan:
1.Product/Service Definition
Describe your product or service in simple and easy-to-understand terms.
2.Target Audience
In conjunction with your company's product/service definition, take the time to clearly describe your target audience. Be specific as to the demographics and psychographics of your ideal buyer.
3.Goals & Objectives
Set the bar as to what you want to achieve. Establish both short term and long term objectives for your company. Make your goals meaningful, specific, and measurable.
4.Identify the Competition
Is your competition a series of small local vendors, or is it a group of large national companies with ample resources? Or, is your product/service so unique that the resistance is really a lack of awareness?
5.Pricing
A guidepost for setting price involves estimating the monetary value your customer will receive, and understanding your financial goals and objectives.
6.Establish a Marketing Budget
Marketing expenses can add up quickly, so set aside a specific dollar amount per month or per quarter.
7.Look at Channels of Distribution
The planning is over; it's time to identify marketing tactics. Brainstorm a range of ideas to reach your target market with your value message.
8.Set Specific Action Steps
Each tactical idea comes with its own set of action steps/road map. For example, if you want to mail a brochure.
9.Set Timing for Each Step
Listing action steps is not enough -- you must establish a timetable for each step.
10.Get Accountability
The best laid marketing plans fail when they end up in your bottom drawer, never to be seen again. Therefore, it is CRITICAL to have an objective coach hold you accountable for taking charge and executing your plan. Consider “hiring” this person to help write your plan.
