10 Quick Steps To A Home Business Marketing Plan

By BB Lee

Without a solid marketing strategy your home based or small business will struggle to succeed. You need a marketing plan to introduce your business to the consumer market, to create a buzz about your business and keep it in the minds of consumers.

Buzz and familiarity will create demand for your goods. And if this is successful...consumers will line up to purchase your goods or service, leading to P-R-O-F-I-T-S.

Simple enough?

You would be astonished at the number of business owners who start a new business with no solid marketing plan. Following are 10 tips to draft your own marketing plan quickly and easily. Adapt them to fit your business goals.

1. Research

You must know who would be the best customers for your business. Do you know their purchasing habits, income level, and education level? Are they male, female, young, older, city dwellers, suburbanites? And who are your direct competitor?

2. Target

Think of a unique angle or a niche to fill with your service. For example, there are hundreds of day care services in most communities. Here's an example of finding a niche: zero in on low-income single moms with special needs children. Offer a level of care they could not find for the same price. Or, you might decide to open your day care center earlier and close later in the day than similar centers. This will appeal to parents who work long hours.

3. Details

Write a detailed report of the benefits you offer. This will help guide you when you write classified ads or business sales letters.

4. The Competition

Find out what companies are marketing a similar service in your community. How much do they charge? What is their unique selling point? Determine ways to out-finesse them.

5. Mission Statement

Write a mission statement defining who you are and what you are about. Explain what you are selling and include your unique selling point.

6. Marketing Idea

How will you create demand for your product? Possibilities include offering extras, or better quality, performance or price.

7. Price

How much will you charge? Will you charge less than the competition to attract new customers? Charge a similar price, but offer extras. Or, you could charge slightly more and provide better quality. Emphasize quality as your unique selling point.

8. Budgets

How much money will you invest in marketing your product daily, weekly and monthly?

9. Goals

What income are you forecasting per week, month and year? How many sales per week, month, year? How many customers served per week, month and year?

10. Success

What methods will you use to measure the success of your marketing plan? Possibilities include: reaching a predetermined income, selling more than the competition, satisfied customers.

At the end of each year review all your marketing statistics. Did you reach your goals? If you did not reach your goal, revise your marketing plan until you find a winning strategy.

Need More Info?
Visit your local library for books on marketing plans or read the many free marketing e-books found online. Read every thing you can on advertising or marketing. Set up your own research files on marketing strategies. Keep striving to improve.

BB Lee is Editor/Publisher Of SmallBizBits Home Based Business Newsletter. Subscribe Now For Unique Startup Ideas, Great Home Business Articles, Tips, Advice. Visit: http://www.angelfire.com/zine/smallbiz
Email: smallbiz@angelfire.com


 
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