9 Reasons Why You Need a Marketing Plan

9 Reasons Why You Need a Marketing Plan

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Do you have a marketing plan for your business?

Most marketers who start a home based business jump right in without doing a marketing plan or giving any thought to how they plan on marketing their business.

They ignore the fundamentals of building a real business and in their excitement forget that to build a long term stable business you need to have a marketing plan.

In today’s competitive selling environment, your business needs to stand out from the crowd in order to thrive.  The way to do that is to have a marketing plan for your business.

The marketing plan is actually part of your overall business plan.

It will help you determine how you intend to get the word out about your business to your ideal audience.

You don’t have to write a huge book about the marketing plan, but you do need to write a plan down.

Don’t move forward without a plan because it’s like shooting in the dark. With a plan you can actually plan for success instead of leaving it to chance.

Here are 9 Reasons Why You Need a Marketing Plan For Your Business:

* Helps You Complete Market Research:Market Research

It is imperative that you learn about the market you’re doing business in. You need to know about all aspects of the business, for example, who your target market is and what competition there is your field.  It will also help you define what problems your products or services solve.


* Helps You Determine Who Your Competition Is:

Who your competition is, is just as important as what types of products or services they promote. It’s obviously not going to be just exactly like yours, so learning all you can about them helps you differentiate yourself and your products from theirs. It will also help you decide how to position yourself in the market.


* Helps Plan Marketing Strategies:

One of the most important parts of the marketing plan is the strategies that you will use to get the word out about your business. Will you use offline or online marketing, a website, blogs, content marketing,  social media, brochures, online ads, offline ads, or something else entirely? Also the type of results you believe you ‘ll get for each of these?


* Helps You Create a Budget:

Many marketers overlook this step. When you learn more about your market and the cost of getting a customer, you can make a budget that is realistic to help you get more customers and make more money.

* Helps You Establish Goals:

Without knowing a lot of information about your demographic, product, service and budget, it will be hard to make goals. But in the process of creating the marketing plan you’ll determine this information, and it will help tremendously.


* Helps You Evaluate the Plan and Results:

One aspect of a marketing plan is that it’s always evolving, even after it’s put down in black and white. Periodically you need to evaluate where you are. What type of results are you getting, and are they what you expected? Can you change anything to make it better?

* Helps You Determine Your Strengths, Weaknesses, Opportunities and    Threats:

When you create a marketing plan, you are also doing research that helps you conduct what is called a SWOT analysis ( Strengths, Weaknesses, Opportunities, Threats). This will help you get a 360 view of your business and the things that can affect your business, positively or negatively.

*  Helps to Establish Deadlines and Tasks:

Marketing activities can be so varied that they can seem overwhelming. A marketing plan can help you break down tasks into a step-by-step guide with a deadline attached.

* Helps You Make Smarter Decisions and Keeps You Focused:

All of this information combined will help you make a lot smarter decisions about your business. It will help eliminate distractions and keep you focused on the ones relevant to your business.The decisions you make will both save you money, time and frustration.


The marketing plan is indeed one of the most important parts of your overall plan for your business.


If you’re starting a new business make sure to take the time to establish your marketing plan up front.


If you already have a business and don’t have a marketing plan take time out now and do one..

To your Success,

Eileen

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Eileen Tansey’s Network Marketing Blog
Skype:   eileen_tansey
Email:   Eileen@EileenTansey.com

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