A marketing plan is a proposal that guides how your organisation plans to get the word out about your company, products or services. It integrates the four Ps of marketing -- product, price, promotion efforts and place (where you plan to sell your items). After creating and putting your plan into action, you must then monitor and evaluate the effectiveness of your marketing campaign. This allows you to make changes where needed.
- Skill level:
- Moderately Easy
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Identify your goals for your marketing plan. One of the obvious goals in the course of business is to bring in new customers and make more money, but get as specific as possible What types of customers do you want to attract -- high-end regular buyers, for example, or value-conscious bulk purchasers? Another common goal of a marketing plan is to create brand recognition so that when people see your logo or hear your slogan, your company's products or services immediately come to mind.
Track new sales and inquiries regarding your products and services to find out how the customer found out about your company. For instance, if you set up an online advertising program to draw traffic to your website, you can use the tracking features provided by the service provider to determine which ads perform the best. You can also simply ask the customer where and how he heard about your company.
Conduct more detailed surveys of customers who have started using your products and services to gauge the effectiveness of your marketing efforts. For example, you can ask if you're meeting the customer's expectation of the product based on the advertisement. Review web-based feedback as another way to evaluate the effectiveness of your marketing plan.
Compare your sales revenues and profit margin for the period before implementing the marketing plan to the period after the plan is in place. If you notice a positive change, that is one of the clearest indicators of a successful plan.
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