HOW TO CREATE AN AGENDA FOR A NEW MARKET
Firms that are successful in marketing invariably start with a marketing plan. While executing the plan, it has its challenges deciding what to do and how to do it is marketing greatest challenge. By establishing a plan, the task of passing out individual marketing campaigns becomes much simpler, more cohesive and conducive for better results, also things change, people leave, markets evolve and customers come and go. However, the bulk of your plan should focus on the coming years.
“Developing the plan is the heavy lifting of marketing, so a little developmental help is a good idea”
Developing the plan is the heavy lifting of marketing, so a little developmental help is a good idea. Your key people can provide realistic input and can share any insights they have on any potential marketing opportunities. This adds another dimension to your plan. Remember that firms keep specifics of their marketing plans private to prevent sharing any valuable information with competitors.
Establishing a yearly marketing plan will benefit your business by serving as a rallying point. You want your employees to feel appreciated, so it is important to share the vision of where the company is headed in the years to come.
A Chart of Success:
if you do not plan, the business is doomed. An inaccurate plan is better than no plan at all.
Company Operational Instructions: consider it a marketing to do list on a grand scale or a step by step guide to the company’s success.
Captured Thinking: the written documents read out the company’s game plan so that if people leave and new people arrive the plan is never altered. The information in the marketing plan remains consistent.
Top Level Reflection:
in the daily hustle and bustle of competitive business, it is hard to step back and view the big picture. While reviewing your marketing plan, it is the best time to do the high-level thinking. Ideally, after a few years, you can sit back and review a series of the company’s marketing plans. The best way to carry out the review is to do it year after year of marketing plans. This enables the company to get a clear picture of business growth and direct future plans.
A marketing plan serves the purpose of enabling company representatives to know what to say and how to say it.
A marketing plan or agenda has 7 distinct parts:
–Define what your business, company or organization does. Point out any unique attributes and note down missions and goals as well as strengths and weaknesses.
–Product and service description; describe the benefits of your product or services and the problems it solves.
-Define the target audience, who are they? Where are they? What are their characteristics?
-The 4 Ps of your product or service: what position? What promotion? What place? And its price.
-What is the offer or message?
-Communication medium, this could be radio adverts, billboards, social media or t-shirts.
-Conversion and sales: how to convert potential customers into sales.
New markets can be challenging but with a proper marketing plan or agenda, your company will have an easier time setting up and start making a profit in as little time as possible.