Marketing Strategy And PlansStarting at the end makes good dollars and sense!

What is your sales goal?What Do You Want To Accomplish? Dont put the cart (strategy and plans) before the horse (result). Goal determines strategy, strategy does not determine goal.

Step - 1 Determine Budget

Determine BudgetStep - 1

You cant execute a strategy or a marketing plan if you dont know how much money you can spend. According to Entrepreneur Magazine, your marketing budget should be anywhere from 6% to 20% of your gross revenue or projected revenue.Marketing Budget6% - 20%Of Gross Revenue

Determine BudgetStep - 1

For new companies (1-5 years old), your marketing budget should be 12% plus of gross/projected revenue. You need to spend more to establish your brand. For established companies, your marketing budget should be 6% to 12% of gross/projected revenue. Remember, brands like Microsoft, Coca-Cola, McDonalds and Nike never stop marketing.

Step - 2 Whos your customer?

Whos your customer?Step - 2

Sorry, the answer isnt everybody. Get serious about demographics and psychographics so you can choose marketing medium wisely. Its notEverybody

So choose your marketing medium wisely!

Whos your customer?Step - 2 If you are not comfortable or do not have time to prepare your own surveys, outsource this function to marketing students, or hire a professional.

Step - 3 Let the PLANNING BEGIN?

Begin PlanningStep - 3

Develop a minimum of a 90-day marketing plan (a year is even better). If social media will help you achieve your goal, a social media plan should be developed in addition to your marketing plan.Marketing Plan 90 Day

Begin PlanningStep - 3

All advertising, social media, brand development and events should support your end result. If a marketing idea or option doesnt reach your target customer, its not going to help you achieve your sales goal.

Step - 4 MEASUREMENT TOOLS

Develop measurement toolsStep - 4

How will you know if your marketing efforts are getting you the ROI (return on investment) you expected? Nothing happens overnight but if you do nothing, then nothing happens. Give your plan at least 6-12months.Months6 12

Step - 5 Execute the plan

Begin PlanningStep - 5

Measure frequently, but stick with your well-developed plan long enough for it to work. And, finally, enjoy the results of your hard work! If you fail to plan, you plan to fail!

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