Pub 2 2021 Issue 1

http://wvcar.com 24 WVADA Focus on Growth Many entrepreneurs know they need to create a marketing plan, but they are either intimidated by the thought of it, or they don’t put the time into it soon enough. You can hear the voices of protest (and excuses) now… “But I’m not going to be doing any advertising anyway.” “I just want to grow through word-of- mouth.” “I’ve got to get my business up-and- running first and then I’ll figure out the marketing.” “I’m not a marketing person!” If you’ve secretly thought of any of these things, you’re not alone. But the reality is that writing a good new business marketing plan is extremely important and not very difficult. It’s just outlining decisions about what your business is, who your customers will be, and how you will reach them — and committing those ideas to paper in an orderly format. A good marketing plan answers questions like “Who are our target buyers?” and “Where will we spend money to attract them?” With these kinds of questions resolved, you’ll be setting your business up for success right from the start. So stop procrastinating and learn how to make a marketing plan. Where to begin? Well, let’s start at the beginning. What is a marketing plan? A marketing plan is a document that outlines a brand’s plan to attract and retain customers and promote its brand, products, and services. It includes research, information, and past marketing performance history, and it outlines a plan for creating future marketing and advertising strategies. Marketing plans are often a section of a larger business plan. But they can also stand on their own. Why do you need a marketing plan? A marketing plan helps you put all of your research, ideas and plans in 11 Steps to Create a Marketing Plan For Your Business one place. When you go through the process, you can: • Define your core messaging and positioning to create a cohesive brand voice, vision, and style. • Set a budget that matches your goals and agenda. • Deliver a stronger return on investment as you will create tracking processes to measure and optimize campaigns. • Develop better future plans as you can clearly see what’s working and what’s not. • Organize and centralize your marketing plans so your entire team is on the same page. Without an official marketing plan, it’s likely that your business will have a lot of ideas, opinions and plans floating around without much cohesion. A marketing plan helps you get focused and organized so you can be more coordinated, productive and successful. When’s the best time to make a marketing plan? There’s no bad time to create a marketing plan. But the best time to make a marketing plan is: • At the beginning/end of the year so you can plan out plans for the year ahead. • When launching a new business so you have a new business marketing plan to help you grow and scale your business. • When launching a new product, service or category in your business so you know how to capture a new market. • The moment you realize you don’t have one because it’s never too late to start to reap