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SMALL BUSINESS MARKETING The four foundations of a strong marketing plan.

pete0059

Updated: Jan 30

 

The objective of this piece is to help small business owners create a well-balanced and effective marketing plan. It is in two parts. Part One looks at elements that make up the foundations of a good marketing plan. Part Two explains how to create a simple and effective action plan to implement your marketing.


The plan is aimed at anyone that does not have extensive marketing experience. Whilst it is simplistic, it is not simple. You can go into much more detail on most of the aspects in the plan, but this will give a strong framework for you regardless of the detail and depth of the information you have available.

 

Why your small business needs a marketing plan (and How to Create One)

If you own or run a small business you've probably been told countless times you need a marketing plan (probably by a marketing person). But, for many small business owners, marketing can feel hit and miss, akin to keeping your fingers crossed and just hoping for the best.


I firmly believe that it’s essential to have a marketing plan. A clear, strategic marketing plan can save time, reduce costs, increase the impact, and grow the business.


But then I would say that; I’m a brand and marketing expert. But this also means that I have the proof that it works - I’ve seen it in action. A thought through and well-rounded plan will combine four core elements to underpin a month-by-month action plan with target metrics to measure progress.

 

Why you need a marketing plan (and why it needs to be written down).


A marketing plan is your roadmap for attracting and retaining customers. Rather than throwing darts in the dark, a well-defined marketing plan lets you make informed decisions and measure the effectiveness of your efforts, which in turn allows you to repeat them if they are successful.


Many small business owners (and many large ones as well) like to think that they have a plan, it’s in their head. After all, they know the business better than anyone and as they are probably the ones who are going to implement it what does it matter if it’s written down or not?


As a creative, I’ve learned that having an idea or thought, and being able to make it a reality, are two very different things. The act of committing a plan to paper (I know we live in a digital age, but you get the meaning) forces you to make decisions that you can otherwise fudge or gloss over when it’s in your head. It makes you decide on definite directions and actions. It’s impossible to find the gaps and weaknesses of a plan that exists only in your head. By getting it out of your head and into a physical form, you realise just how much you haven’t considered.


Trust me, no plan is a proper plan if you can’t write it down.

 

So what are the benefits of a marketing plan for your business?:

 

Provides Focus and DirectionA good marketing plan provides a structured framework for growth, allowing you to make strategic decisions based on real results and data rather than guesswork.


Maximises Efficiency

Knowing your audience and the best ways to reach them saves time and resources. With a clear plan, you can allocate your budget to the actions that have the highest impact.


Allows for Measurement and Adjustment

A plan helps track your progress, so you can see what’s working (or not) and adjust accordingly. It also keeps you accountable (even if only to yourself).


Builds loyalty

A well-defined, and consistently delivered brand message fosters trust and loyalty.


Consistency

Consistent messaging across all marketing touchpoints creates a cohesive experience that customers will recognize and remember.


Any marketing plan is only there to support the business plan. You must know what your business objectives are and that you write them done (see above). Once this is done you can execute marketing that is focussed on helping you to deliver on overall business growth.


We recommend setting out a central objective and then chunking this down in to smaller objectives, each of which will contribute to achieving the overall objective.

For instance, if your central objective is to increase revenue by 10%, your contributing objectives might include increasing revenue from existing clients, growing web traffic and generating three new business opportunities a month.


Every objective should follow the SMART objectives rule.


Specific. Your objective must be specific and avoid vague goals and targets

Measurable. Your objective must include a way to measure its success or progress. This can be revenue, number of customers or hours billed. As the saying goes, if you can’t measure it you can’t manage it.

Achievable. You must believe that your objectives are realistic and achievable or there is the risk of losing motivation.

Relevant. Your objectives should relate to your business goals and direction.

Time related. All objectives need a time frame in which they need to be achieved.

 

The 4 foundations of a strong marketing plan.


1. Your customers

Everything starts (and finishes) with the customer.


Many business owners believe that they know their customers. Often, this is not true. They might be able to generalise, but they rarely take the time to dig a little deeper.

Just like the need to write a business plan down, only when you ask questions about your customers will you start to see where the gaps are.


Understanding your customer allows you to craft campaigns that resonate deeply with their wants, needs, and pain points. Plus, it will help you find more customers just like them.

Knowing your audience inside and out makes it easier to find the right channels and messaging to connect with them.


Create short profiles for your customers. Give them names and personalities. If need be, create two or three depending on the different types of customers you have. You can segment customer groups by products bought, frequency of purchase, geographic location etc.


To create a customer profile, consider factors such as:

  • How old are they?

    A rough age range helps you consider language and tone of voice.

  • Is there a dominant gender?

    Are they primarily male or female? Or a mix of both?

  • What is their outlook? Consider their education levels, their opinions, income and lifestyle.

  • What are the pain points?

    What problems or challenges do they face that your product or service can solve?

    Find the tangible and the emotional benefits that your service delivers.

 

2.  Your competitors

Everyone has competitors. As the military saying goes, “know your enemy”.

Competitor analysis helps you understand your marketplace, so you know how to position yourself effectively.


Look at both direct competitors (businesses offering similar products) and indirect competitors (businesses solving similar problems with different solutions). A competitor analysis can also inspire fresh ideas for your marketing strategies, promotions, and product development.


By studying your competitors, you gain insights into:

What do they do best? What are they known for?

Are there any gaps or weaknesses you can exploit?

What is their pricing, offers, and messaging strategies?

 

3. Your offer

It is important to define your offer for your audience. It should convey the unique value proposition that differentiates you from competitors. A strong message should:

  • Be clear and simple.

  • Convey your unique selling points.

  • Appeal to your target audience’s needs or values.


Defining your message at the outset provides a cohesive voice across all marketing channels, from social media to emails and even in-person interactions. It helps ensure that customers receive a consistent message every time your audience engages with your marketing.


Your offer can be defined if different ways to emphasise different aspects or elements of your offer. This can also help you test which message and what emphasis and tone connects best with your audience.

 

4. Your brand

Who are you? Or, more importantly, who do you want to be in the minds of your customers?


Consider your ambitions for your company; what do you want its legacy to be?

All these things combine to create a brand (and business) purpose. We do not need to communicate this explicitly, but the sentiment should be present in every communication we create.


  • What is your ambition as a business?

  • What do you want your customers to say about you?

  • What is your personality and tone of voice? Remember to check back to your customer profile ask yourself if this will resonate with your customers. Also check back to make sure you are distinctive from your competitors.

  • What are your key sales messages? Do they convey your unique brand personality and tone of voice?


Getting your brand onto paper is really important. As with your target audience or your objectives and goals, having your brand in your head is not good enough. It is only when we start to commit them to paper that we are forced to make objective decisions and fill in the gaps.

 

Once you have explored these four fundamental pillars of the marketing plan foundations, the next stage is to use these to create a marketing action plan for your business.


 

We have created an editable Brand Foundations template to help you put this approach into action for your business. It is available via the link below and is free for you to use.



 

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