Monday, December 24, 2007

Marketing Plans

Most business owners do not have any marketing plans. Marketing plans are very important to have for a business. Marketing is the key to sales. No marketing, no sales, it's that simple. Having a variety of marketing plans going at one time gives you more leverage and more exposure. It also helps you see what is working and what is not working in your marketing campaigns. Having only one marketing plan in action can actually hurt your business. Let's say your marketing plan proves to be ineffective, you must then build a whole new marketing plan and start from scratch. Now let's say you have multiple marketing plans working at once, you now have a variety of results to look at. Then you can pick and choose what works and what doesn't work. Marketing is all about testing/trial and error.

Many business owners make some key mistakes when creating their marketing plans. First they expect their first marketing campaign to be a huge success. Now this may or may not happen but marketing is all about trial and error. You must learn from your marketing plans. You must look and see what worked and what did not work. Then adjust your marketing plans and start a new campaign.This is how you market effectively. It's all about trial and error. Let say you see a certain ad pulling in all kinds of new business. Before you jump the gun and throw your entire bankroll behind the ad, run a couple additional tests to see how well the ad pulls in different markets. You want to do as much testing as possible before you come out with a major marketing campaign. Once you have everything as it should be, take full advantage of your marketing efforts.

Another key mistake I see with many business owners is they have either no way of tracking their marketing campaigns or they do not track their marketing campaigns. Not tracking your marketing efforts is bad for business. You must be able to see what is working and what is not working. Then you can stop spending in certain areas and increase spending in areas which are working.You must track your marketing campaigns in order to produce the most amount of sales for your business. Yes you can still have an effective business without tracking your marketing but it is kind of like cutting a steak with a butter knife.Yes it is possible to cut a steak with a butter knife but you make cutting the steak so much more difficult. Just like not tracking your marketing campaigns.

Building effective marketing plans is vital to building a business. Marketing is a key component to business. You should always have a budget setup just for your marketing efforts. I cannot stress how important marketing is to any business planning to become successful. I would even go as far as hiring a marketing company, if you have no experience in creating effective marketing plans.

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Marketing Strategies

Business owners need to use a variety of marketing strategies in order to build a successful business. Many business owners do not use multiple marketing strategies when building a business. This is a key reason most businesses end up failing. Marketing strategies are essential when building a business. Having one marketing strategy is great but in order to make the most out of your business you should employ lots of different marketing strategies . Your marketing strategies do not have to be complicated, in fact the simpler the better. Having a complex marketing strategy does not necessarily mean it will achieve better results. In most cases the most basic marketing strategies have achieved high levels of success for me. There are many ways to market both offline and online. You should use a combination of both to reach the most consumers. Your marketing strategies should also be tailored towards your targeted consumer base.

Your offline marketing strategies should include flyers, letters, business cards, and drop cards.Flyers are great to pass out at large events, depending on what you are selling. For instance conventions are perfect for flyers. Passing out flyers at ball games, malls, and church events is not really effective unless your product is in line with one of those themes. Finding a convention inline with what you are selling is priceless. For instance if you sell computers, passing out flyers at a convention centered around computers would help you increase sales. Setting up a booth would also help. Sending actual letters to your current customers and local community is also a great way to find new and repeat business. Lastly sponsoring events for your local sports teams, youth organizations and churches is a great way to build a relationship with your local community. Free promotional give always are a great way to gain new customers. Take a look at Mc Donald's they do an excellent job of this with the free toy which comes with every happy meal. And their monopoly game brings in huge amounts of business. The key is to offer people something they want, like a free appliance or something. Promotional giveaways can really help bring new business to you.

Some online marketing strategies are writing press releases. Press releases are a great way to get your business out in the open. Another way to get free publicity although it is not online marketing is to build relationships with your local papers. Having a paper write a story about your business will give you instant creditability and lots of exposure. Using Pay Per Click is also a great way to build your business online. With pay per click you must know what you are doing or have someone who knows what they are doing in order to be effective. You will also need at least a budget of 1,000 dollars a month depending on what keywords you are going after.

These are some very basic marketing strategies but they can be very effective if used properly.
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