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Wednesday, July 13, 2016

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5 Tips Needed in Creating an Effective Marketing Plan

Oyetoke Tobi - Wednesday, July 13, 2016

What an effective marketing plan should do for your business is to attract more customers. It encompasses the objectives of your business. With a marketing plan, you can know all needed tools and strategies needed in reaching your business goals. It spells what you need to buy, what you have to sell and every needed strategy that will help generate leads for your business. The beautiful thing about marketing plan is that it doesn’t need to be professionally written.

So here are the 5 tips

1. Get a screenshot of the current financial condition of your company

This should give your customers a picture of the picture or services your company offers. It has to be properly targeted to fit the right audience. One of the keys to success in business is proper positioning. 

Effective position requires you to know how your business stands out from competition. Knowing exactly what your customers will want, is equally important

2. Define your targeted audience

A simple way of doing this, is describing your targeted audience is just a single paragraph. You can define your audience based on demographics, location, gender, earning etc. You also need details like; their frequency of buying, their preferred quantity of purchase etc.
To effective define your audience; you have to come up with a narrow definition of who they are.

3. Have your marketing goals at the back of your mind

What is that you really want to achieve with your marketing plan? Could it be you want to increase your sales by 20% before the year ends? It is important you write down a concise goal which you will have to keep track of.

4. Develop the necessary marketing communication strategies which your business will run on

Communication is the most critical element of any marketing plan. After knowing all you want to achieve using your marketing plan and have defined your targeted audience, next is to figure out a way of reaching them. 

It is important to keep your focus on your targeted audience at every stage of your marketing plan. To reach out to prospects who know nothing about your business, you will have to run some ads and build your PR. For customers who have once done business with you, sending emails, arranging for face-to-face meetings, and events aimed at appreciating customers will work well. To edge a prospect closer to closing a sales deal, you will have to contact them via phone calls, emails or personal meetings.

5. Have a marketing budget at hand

Marketing is an important element in every business, and so it is important to set aside some parts of your revenue to it. If you are just starting business, your marketing budget can come from personal funds, grants or loans gotten to run the business. No matter how tight your marketing budget may be, there are several ways you can effectively reach out to your prospective buyers.



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