If someone asked you to define Marketing, what would you say?
When I hear the word Marketing, I think of all the ads I see on Facebook and how people want me to buy their product.
Essentially, Marketing is defined as a necessary evil that one needs to outline in a business plan. It is the monster that needs to be tackled (I am only imagining Mario vs the Dragon right now) if a business owner wants to generate leads.
When creating your Marketing Plan, here are a few basic points to consider:
Purpose – when creating a strategy for your marketing plan, outline your purpose. What is it that you want to achieve. Is it a plan to increase brand awareness? Is it a lead magnet that you will be using to generate leads?
KPI’s – Your plan should have an end goal. This will depend on how much you are willing to spend and your acquisition cost.
For example, let’s say you organise a workshop. You have a goal of attaining 100 registrations. Historically, you know 25% of those registrations turn up to these events. Out of the 25, you estimate 5 will turn into sales.
Once you know your numbers and what you want to achieve out of this Marketing Campaign, you will know how much time and money you need to put in. You will be more focused, and the plan will be laid out for you.
This goes for any campaign. When you chalk out a marketing plan, always keep the end goal in mind.
Strategy – Writing down your strategy helps. When coaching our clients, we always advise them to write it down. This way the plan is in front of you. Your strategy should outline what you want out of your campaign. Are you trying to convey the message about your services? Is it about Brand Awareness? Are you promoting an event?
Outline your overall strategy to help you understand how you are going to execute your plan.
Avatar – Once you have your Marketing Plan chalked out, you need to know who your target market is. The best way to do this is to draw out your Avatar. Think of what your ideal client looks like and make a list. Then think about where these people hang out. Is it online? At Networking Events?
Your Marketing should result in customers. It is important to spend your market targeting the right market, otherwise, it’s a waste.
Test and Measure – Always know your numbers. After you execute your Marketing Plan, keep a close eye on your return on investment or ROI. If your campaign is giving you results, you know to keep it going. If you aren’t getting the leads you thought you would, tweak your campaign and figure out what is wrong.
Here is a snapshot of what your Marketing Plan Template should have:
It outlines your goal, your plan and your actions – all the elements of a Marketing Campaign. This will ensure you stay focused and achieve your goals for your business.
Download your copy of the Marketing Plan Template by clicking here.
For more information on how Max My Profit can help you with your business, please contact us here
