10 Tips on your Marketing Plan

You would be surprised how many businesses don’t – Of course I have a plan I hear you say.  “I advertise here and I have a web site”

How do you expect to get new customers to spend money with you let alone increase the spend from your current customers if you don’t know what you are selling and to whom.

1. Remember your marketing mix and INNOVATE – Product, Price, Place and Promotion

2. Pareto’s (80/20) principle – 80% of your business comes from 20% of your customers- remember this will help you focus your efforts

3. Listen to your customers – look at what you do well and where you need to improve.  Analyse this information compared to what your best competitors do.

4. Know your customers needs – Think about why your customer’s need you.  What is your unique selling point (USP) – why should someone buy from you instead of your competition. (not price – just a hint)

5. Review your marketing – What do you do now? Do you know if its effective? Is it consistent?

6. Understand your competitors – Who are they and what do you know about them?

7. Create your marketing strategy – Consider the key elements of what you do, what are your strengths and weaknesses and what are the opportunities and the threats to your business (SWOT analysis)

8. Make the most of what you’ve got – Look at your existing sales base and remember it is more cost effective to increase sales from your existing customer base – Do they know what products and services you offer?  Are they only buying one of your services?

9. Avoid price competition – understand what customers are really buying from you. Every priduct has a service element.

10. Implement and review your marketing system – to fail to plan is to plan to fail