A complete, written marketing plan contains seven main components: 1. The more you sell the more you can spend on promoting your products or services. Marketing touches all aspects of your business and there is science behind creating a well-rounded marketing plan. Think back to when you first started your business. It can be the most important in the most challenging part of developing your marketing plan because it forces you to define a niche market. Knowing how you will market is also important. Contingency plan: The contingency plan describes possible adjustments to make to your strategies if your marketing tactics are more or less effective than originally planned. You need to know what your plan of action will be for your marketing plan in general. Which is why it's so important to choose the marking activities that are going to give you the most results, executing a few of them, and executing those well. This checklist allows you to summarize the tasks that need to be accomplished to put your plan into action. The point of marketing is to keep your sales funnel full and remind people that you exist and to point them directly to where the purchase is made. As a solopreneur, or someone with a small team, you don't have the resources that a large corporation has, so you're either wearing many hats or you're executing many things. Market research and analysis: The first component of a marketing plan allows you to gather pertinent information about the potential market for your product (s) and/or service (s), evaluate strengths and weaknesses, and identify a target audience. Developing a marketing plan isn't just about knowing when you're going to launch a new product or service, and it isn't about just having a consistent blog or social media schedule. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the view of the U.S. Department of Agriculture. Making sure you have internal feedback loops and place, Google analytics installed, and measuring using S.M.A.R.T. Evaluating the effectiveness of your marketing plan will allow you to make adjustments to meet your goals. Market Research Creating a schedule of how you will promote, market, or advertise your business will help you know where your marketing is aiming, where you will be publishing your content, and will make sure that you aren't cannibalizing your other marketing efforts. Marketing and financial goals and objectives: This component of a marketing plan consists of defining your marketing and financial goals and objectives. What products and services will you offer? Using a content calendar will help you see where promotions may overlap each other and will make sure that you're utilizing all of your chosen media in the best way possible. Even customer service and product pricing fall under marketing. Do I need a nutritional label for to sell my food product? Market research and analysis: The first component of a marketing plan allows you to gather pertinent information about the potential market for your product(s) and/or service(s), evaluate strengths and weaknesses, and identify a target audience. This is where the chaos and confusion of marketing can be brought to order in a clear and concise plan. 5. There are strategy meetings with top executives where each specialist has to make sure they are developing marketing efforts that drive the results they want. Strategies covering the 4 P’s of marketing (product, price, place, and promotion) are developed. This is your crystal ball to understanding if your marketing activity is actually working or not. However, you should always be willing to enhance or redirect your plan based on what proves successful. 6. Goals will help you understand if your activities are actually delivering what you want. You need to understand and organize all the things you can find about your market and the products or services that you're selling. Marketing Plan Basics 1. You must know which media you're going to use to reach your audience. Marketing plan checklist: The final component of your marketing plan is a marketing plan checklist. The biggest mistake business owners make is to think that they can sell their product or service to a bigger market. But this will hopefully get you started. 2. Your marketing budget will be defined by your revenue projections. Once you've identified those you can develop a message should speak to them in a consistent way throughout all your media channels. Where do you go to get the demographic information for different media platforms. Only pick a few tactics that you know will work with your target audience. Marketing budget: This component of a marketing plan consists of developing a marketing budget, which will allow you to plan for marketing expenditures. 1. 2. If you don't understand who your ideal clients are, you'll dilute your brand messaging or product offerings in an effort to appeal to everyone - and virtually ensure that you actually appeal to no one. However, you should always be willing to enhance or redirect your plan based on what proves successful.