Is your business is failing to achieve the profits you projected and were expecting.
You need to determine whether your business should offer new products or services, increase its share of the market, improve customer service or simply increase the number of units sold. At least one of these should be your marketing objective.
The next step is to devise a marketing plan that will let you reach that objective and allow you to achieve your ultimate goal – increased profits.
Your marketing plan should always be developed with your marketing objectives in mind. Marketing strategies are one of the first things to consider when you’re developing your marketing plan. Your business might be helped significantly if you better define your target market.
Next, consider the effect of product positioning, promotion and pricing, all of which can have a critical effect on your sales. Unless your message is targeted to reach the right market and also the correct ‘persona’ your marketing efforts will more than likely waste time and money.
You need to identify your target precisely;
If your target market is too vague, such as “anyone who wants to buy,” your marketing efforts will probably fail. Avoid this mistake by honing in on your target.
Next, you need to develop an explanation of how YOUR products or services are better than those of your competitors.
In other words, you need to tell your prospective customers what makes your business, goods or services superior. Identify what sets you apart and build on it when tailoring your sales message.
Now, determine the best way to create customer awareness.
Promote your particular products or services, and while you’re at it, make sure to emphasize their benefits for buyers. Email campaigns, online PR, article marketing, video marketing, blogging, social media and directory marketing can all be effective tools when done properly.
Next, carefully establish prices for your products or services.
Identify how much the market will bear, keeping in mind the current global downtrend in economic conditions.
The final step in creating an effective Internet marketing plan involves developing a marketing calendar.
A large, inexpensive wall calendar (the erasable kind works well) will let you slot each marketing task to be performed into the appropriate dates. When completed, your marketing calendar will let you quickly see which particular task or promotion you should be working on at any given time.