Welcome back to our series on "How To Write A Business Plan", this is Part 5 "The Marketing Plan" section.
From personal experiance marketing my own companies I can tell you in theory marketing is easy. Simply place your product or service in front of someone who wants to buy it. In practice however, as is the case more often than not, it is not that easy. Finding out where your potential customer is begins the marketing product.
It is very easy to ramble off the ways you can market a product, i.e. online, tv, radio etc, but make sure that your financial projection in your business plan accounts for these marketing expenditures. Avoid marketing efforts that research shows will not be viable and understand that more money in marketing does not equate to more revenue. You must be willing to test marketing strategies and adjust for those that work and those that do not work. More targeted marketing is always more effective marketing so try not to advertise on a billboard when a flyer will do.
Hope this was helpful,
The PushYourRank Team
Posted By: Nicholas Coriano
About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses. While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes. To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com
From personal experiance marketing my own companies I can tell you in theory marketing is easy. Simply place your product or service in front of someone who wants to buy it. In practice however, as is the case more often than not, it is not that easy. Finding out where your potential customer is begins the marketing product.
See Video How To Write A Business Plan: Part 5 "The Marketing Plan"
Marketing 101 teaches us the 4 P's of marketing. These things listed below should be well thought out before investing in a marketing strategy.
Business Plan Writer Pro Tip For Writing The Marketing Plan Section of Your Business Plan
It is very easy to ramble off the ways you can market a product, i.e. online, tv, radio etc, but make sure that your financial projection in your business plan accounts for these marketing expenditures. Avoid marketing efforts that research shows will not be viable and understand that more money in marketing does not equate to more revenue. You must be willing to test marketing strategies and adjust for those that work and those that do not work. More targeted marketing is always more effective marketing so try not to advertise on a billboard when a flyer will do.
Hope this was helpful,
The PushYourRank Team
Posted By: Nicholas Coriano
About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses. While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes. To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com