To put in place an effective marketing strategies with a basic written marketing plans for your company not only need money but also resources. On the other hand, your marketing strategies need not be complicated to implement and it is far better to start with a simple written marketing plans that you can follow and modify where necessary.
All business people know they need marketing strategies to remain competitive but most are faced with the dilemma of dollar and time resources. Some even do not sure how to get started and the time to figure it out. To kick start, you must know where you are going - define your goals and then organize all those brilliant ideas into action plan. It is very important for SMEs to have very clear mind to remain competitive and at the same time maximize their investment.
Some SMEs with its limited resources may find executing a marketing plan tough if to go solo and should look into running marketing activities with partners that are complementary to the business to maximize costs and resources.
Alliances and co-marketing activities for SMEs not only cost-effective but also creates synergy as customers may get better and complete solutions to fulfill their needs. In this scenario, you may be able to broaden your reach to potential customers that are previously covered only by partners. This form of tie-up or alliances could be probably a "WIN-WIN" solution for the "not-so-rich" and / or resource poor SMEs.
Written Marketing Plans
Before we can move on to how to write our first marketing plans, we have to know what is often associated with your company by your customer. It is the "feel" associated with your company and in many ways your products or services and for small business owners, your personality attached to it. "Feel" is the way the phone is answered, the design of your printed materials, website and how you or company network in the community. It is all about reputation and an implied promise made to build trust, confidence and loyalty.
As you can see it cost very little for the "feel" effect but the challenges are how to convey a solid and professional image that a potential client may want to do business with you.
Step one - define your products or services in your plans.
Customer buying behavior is typically based on how your company product or service measure up to their immediate needs. Our strategy should be telling our potential customers the benefits and values of our products or services but too often we sell on functions and features. Good products or services have to address the needs of the customers by their values and not the functions or features.
Make a list of each product or service your company offer, and list each one the corresponding benefits to the consumer.
Write out a clear, precise Unique Selling Point (USP), describing how your company product or service differs from those of your competitors and always highlight its benefits and values. Customers are generally willing to pay more if they get the perceived values and benefits they want.
Step Two - write a detailed customer profile.
If your target audiences are the general consumers, list demographics: age, gender, lifestyle, location, preferences, interests, etc.
If you market to businesses, describe your ideal business client, include the size of company, number of employees, gross sales, location, etc.
Armed with valuable information, note how your products or services that can fit into their specific needs:
- What do they want?
- What concerns and challenges do they face, especially those your product addresses.
- Buying behavior, seasonal patterns such as peak buying periods or slow times.
- What's in it for them? Write a message directed specifically to your target customer and focus on the benefits.
Step Three - define specific and realistic strategies.
Decide which marketing strategies you will use, for example: networking, cold calling, mailings, advertising, website marketing, email marketing, promotional events etc.
List the pros and cons of each tactic and brainstorm the best tactics for each of the strategies you've selected. Workout and assign time and dollar resources for each strategy you've chosen.
Step Four - put your plans into ACTION
Jump-start your marketing action by selecting two or three you have brainstormed. Follow your plan, regularly review progress, track the results and modify where necessary. When something produces good results, stick with it and if it does not, stop or change.
Use different channels to test the best responses and cost- effectiveness. You have to keep reviewing your strategy by challenging yourselves to see if your marketing plans really fit the real world. Tracking results made good business sense.
Maximize Your Marketing Dollar
Maximizing our effort is about how we can be FOCUS to leverage on our products or services strength to gain the maximum return-of-investment (ROI). Focus is identifying your target and selecting a specific market niche. The narrower your niche, the more effectively you'll be able to communicate your message.
So your strategy should be focusing 80 percent of your effort and resources on the top 20 percent of your products or services that bring in 80 percent return of income. Slight variations accepted but 50 percent effort for bottom 20 percent of your products or services spell something wrong with your time and resource management. Remember, maximum marketing effort would yield highest possible return where as, half-hearted approach would not return you half but zero.
In summary, you must be ready to adapt to changes in your business environment and willing to work with other co-marketers to create synergy. Highlight the benefit and values of your most strategic products and services. Leverage on the strengths of different products and services.
If you do not know where to start marketing strategies, try working with some professional organizations, and some other associations that your potential customers may belong to.
To read more of his articles, please visit: http://www.companyandpeople.com/marketing-strategies/marketing-strategies-written-marketing-plans
Author: Anthony Lim
http://www.companyandpeople.com
