What benefits do they provide to your potential customers? What makes doing business with you preferable to dealing with someone else?All of these things will help make up your marketing message.Marketing isn’t just about promising, it’s also following through and delivering what you said you would.
Some marketing experts think a fifth “P” should be added to the four we’ve already discussed: people.
We touched on it under customer service, but a big part of marketing is the level of service you’re able to offer to your customers, and your people are the ones responsible for that.
Discuss how you’ve arrived at the prices you have, where they fit in with what the competition is doing, and what kind of volume you’ll need to do to be profitable. Some, such as social media or public relations can be handled in-house by a staff member (or outsourced for a fee).
You can have the best idea in the world, but if no one knows about it, it won’t sell. And others can be quite variable in cost, such as printing brochures, flyers, catalogs, etc.
Sales and marketing strategies will vary by industry, and your strategy will be individually tailored to your company, but there are general guidelines that cover most businesses.
Because your marketing plan will lead to sales, let’s start there.
Cover your bases before you get caught short in a situation you hadn’t planned for.
It’s important to talk about where you’ll be located and how you’ll get your products and services to your customers.
Sales and marketing are what will grow your business and help you achieve success. If your business plan is meant for your eyes only, or as an internal document for your staff, you won’t have to be as detailed or specific as you should if it’s intended for a lender or potential investors.
In the latter case, you’ll want to demonstrate a very well-planned strategy that will give them confidence in your proposal and make them more likely to want to fund your business.