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Creating a Perfect Marketing Business Plan for Entrepreneurs

By SiliconIndia   |   Thursday, January 3, 2013
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Bangalore: Marketing is indispensable to most businesses. However, a major obstacle for entrepreneurs is that they don't have marketing experience. They may be skilled at their respected trade, savvy financial advisers or creative writers -- proficient in the niche they decide to build their business around -- but they're not marketers. Although some might know that marketing is critical to the success of their business, they tend to not know where to begin. Here’s how you can create a business plan, as suggested by Marsha Friedman via entrepreneur.com.Here's why it's so important: No matter how ingenious your product or service, no one will find it if they don’t know it’s there.



The marketing component of your business plan should include a budget for time; if you plan to tackle the job yourself, and money. You need a timetable and a professional website that attracts visitors and makes it easy for them to learn more about you, your product or service - and makes it equally easy to purchase what you're selling.



Here are some other points to consider as you're developing your marketing plan:



• What is your message? Your message has to suggest more than "My product is superb." What are the problems your product will be able to solve? Adopt a more professional approach by asking, what would be the value that your business and your service offers? What are the qualities that set your business apart from your competition?



• Who is your audience? Unless you have a niche product, consider your potential audience to be boundless. For example, foldable furniture may be just about perfect for a college student's tiny dorm room. They will make-up your primary target audience. But his parents and probably grandparents too, who help with equipping that dorm room, can also be treated as possible audiences. It also could be suitable for campers, boaters -- anyone living in a small space.



• Which are the appropriate media outlets for a public-relations campaign? Social media is perfect for niche products as online forums build communities around common interests. Daytime TV talk shows and soap operas’ tend to draw in a large percentage of female audiences. Today’s newspaper readers are mostly at an average age-group of fifty-five or older. Once you have figured out who your audience should be, it becomes essential that you make efforts to research they’re daily habits. Find what they're watching, listening to, reading as well as what they do online, the next step would involve customizing your message  in order to cater to that audience via the appropriate medium.



• What's your budget?  Once you’ve successfully answered the aforementioned questions, you should be able to conclude how much marketing you will be able to achieve by yourself, if any; and how much external help you will require. If you're handling it all by yourself, budget for the time it will take to regulate your marketing strategy. For instance make note of the time you would require for keeping your website active with fresh blog posts once or twice a week, posting content via social media and developing pitches to get print, television or radio interested. If you’ve decided to pay a professional for marketing services, use your marketing plan to explore the costs and timetable, so that you will be able to budget more smartly.



Whether you're launching your very own business or re-evaluating your existing business strategy, marketing is what ultimately drives the business, hence it has to be effectively dealt with.


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