10 Practical Points to Make a Successful Business & Marketing Plan

business marketing

Every company needs to make a rock-solid plan of business and marketing in order to succeed with confidence. The more important thing is a business marketing plan that is oriented to satisfy a need in the market and determine what a business wants to achieve with a clear aim of when and how.

In this regard, a professional marketing agency can play a vital role and makes a practical marketing plan which is sure to achieve the set objectives.

If you want to develop your business and marketing plan on your own, we are here to help you with practical tips. Let’s see how you can make a successful business and marketing plan for your company.

1 – Executive Summary and Introduction

While this section is presented first, it is actually prepared after writing the entire plan. It is a summary of what will be discussed during the business and marketing plan. If possible, this synopsis should be no longer than one page.

2 – Definition of Product/Service

It describes the product/service in simple and understandable words. This definition clearly describes the mission of the company and its rationale. Included in this part are the points of difference with competitors which communicate the value customer will receive with your product or service!

3 – Market Analysis

This section is completed with arming matrix SWOT (Strengths, Weaknesses, Opportunities, and Threats) of the company. It determines what the main risks and opportunities are posed by the market and what the strengths and weaknesses are of the company in question. The idea is to determine the main opportunity for the business.

4 – Segmentation

It defines precisely to attract public who want to use offered product or service. This is a key point because the more defined market will be easier to focus efforts and achieve differentiation and position. It is based on specific demographic, psychological, sociological and geographical aspects of the target audience.

5 – Positioning

Having defined the segment, differentiation of the brand is determined i.e., the specific reason why the consumer should buy the offered target product/service. Achieving a market position depends largely on proper choice and execution of differentiated positioning strategy.

6 – Objectives

The objectives define the specific target sales or number of customers. Here you have to set your business goals, both short-term and long-term, specific measurable in both, revenue targets and new customers.

7 – Marketing Tools

This section describes what to do to realize the positioning strategy. It is the most critical part which includes: Product Price Promotion Distribution Public relations It is important to consider the creation of a website and use social networks like Facebook and Twitter for interaction with a target audience.

8 – Schedule

Making a list of the steps is not enough, so you have to set a timeline for each action you have defined in the plan. Ideally, the schedule is presented in a graph in which year’s activities are appreciated, including who will do what and when. Remember: It has to be realistic for optimal achievement.

9 – Budget & Measurement

Marketing expenses can grow exponentially, so it is a good idea to set a monthly or quarterly budget. Evaluate the decisions based on the amount of business of each particular initiative of marketing.

10 – Implementation & Control

The best business and marketing plan is useless if it is filed in a drawer, never to be seen again. Sometimes it is essential to have someone assist in implementing the plan. This person should help you write the marketing plan, and make it work.

The creation and implementation of a business and marketing plan is the best way to stay focused on your business launch and its further growth.

Writing the business plan is usually the easy part and the hardest part is sticking to it in its execution. In this regard, a professional agency can be an ideal source of making, executing and managing a full business and marketing plan.

About the Author

Ellie Singh has keen interest in blogging. Professionally, she is a custom logo design expert and keeps sharing valuable tips and tricks in pertaining to business planning, marketing and logo designing on different informative platforms.

Leave a Reply

Your email address will not be published. Required fields are marked *