Why Does Your Business Need A Good Marketing Plan?

A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. A Marketing Plan is meant to be a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces. A marketing plan is a key component of a business plan and is essential to planning the overall direction that you want your business to take. A marketing plan is not something that you write and then forget. It needs to be followed, monitored and updated. You want to regularly evaluate a marketing plan to make sure you are reaching the goals you set.

Marketing plan objectives are typically on the level of sales, profit, return on investment or, for larger businesses, market share. Marketing is a function of business and has many dimensions, including market research, customer service, advertising, targeting, packaging, pricing, e-marketing, and others. Marketing plans, even those created within a small company, can vary in scope, format, length, and level of detail they do however typically include similar types of information.

Developing a good marketing plan is essential to the success of any business because you need to get everyone focused on the same issues and that's what your plan should do. You need to customize your marketing plan to suit your business and its objectives. Your marketing plan needs to be simple and to the point. In it you want to state your marketing objectives and do so in a way that your goals are very clear for everyone that might be involved with accomplishing the plan itself. Your marketing strategy needs to be clearly defined. It's your plan of action for achieving each of your goals.

Marketing Actions are the tactics you plan to use to give your plan a life of its own. Developing a solid marketing strategy is the foundation of a well-written marketing plan and must be carefully considered before commiting to it. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

The objectives in your marketing plan need to state just where the company intends to be; at some specific time in the future.
The marketing objectives must usually be based, above all, on the organization's financial objectives. If the marketing plan is to work, every exception to it must be questioned. Before you deviate from your plan you need to ask why you should do so. During the course of the year the lessons learned need to be documented so that they can be incorporated into the next year's plan.

A marketing plan for a small business typically includes descriptions of direct competitors, that are marketing similiar products. What the level of demand for the product or service is. A description of the product or service, including special features. What your marketing budget is, including the advertising and promotional plan. A description of the business location, to include the advantages and disadvantages of your location. And what your pricing strategy is going to be. A marketing plan is, after all, a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces.

This kind of balanced view in a marketing plan is important to show risks are being recognized. Like a business plan, a marketing plan is an essential guide. Some business owners don't understand the value of a marketing plan, and still others just don't know what a marketing plan is. Every start-up venture and existing business needs a business plan, yet many entrepreneurs don't realize a marketing plan is equally vital to your business success. A marketing plan is required if you want your business to become a household name. Your marketing plan provides structure to the marketing efforts of your business.


About the Author

Cash Miller is an experienced entrepreneur and speaker who has spent over a decade as a small business owner. His years of experience in small business cover many topics. For more information visit Small Business Resources or go to http://www.SmallBusinessDelivered.com

Relaited Links:

• The Importance of Marketing Mix and the 4 Key Mix Elements
• The Importance of Marketing Mix and the 4 Key Mix Elements
• The Importance of Marketing Mix and the 4 Key Mix Elements

Trade Show Contests: A Great Tool in Trade Show Marketing

Trade show contests should play a huge role in trade show marketing; after all, it will drive visitors directly to your trade show exhibit. An effective trade show contest produces brand recognition and adds to the visibility of your company at a trade show. It is vital to plan your trade show contest well to ensure it brings about success from your trade show marketing efforts.

Consider a Theme for Your Trade Show Contest

The first step in your trade show marketing is to decide on a theme for your trade show contest. Select a theme that fits in with your company's products and services. For instance, if your company makes power tools, a water park theme is not as enticing to targeted do-it-yourselfers as a home renovation and construction theme. You should include your theme in all of your trade show marketing and in your booth decor, so select your trade show contest theme wisely.

Select Your Prizes

As with your trade show contest theme, the prizes you give away should be a good representation of your products and services. For example, a great prize for the power tool manufacturer may be a selection of power tools or a home improvement store gift certificate.

Money is often the trade show contest prize that will bring attendees running to your booth. Cash cube money machines that swirl money around for people to catch is always a fun draw for any business. Massages, spa gift certificates, and vacations can usually be made to fit nicely into trade show marketing themes.

Make Sure Your Contest Does Not Break Any Rules

You may have an incredible contest idea, but if it violates the rules of the trade show, your incredible idea will not fly. It is essential that you understand the rules of the trade show and double check with the staff before advertising your trade show contest in your trade show marketing. If you fail to do this, you could end up with a worthless contest and a show full of angry attendees who came especially for you.

Hire Enough Staff Members

You should have one person in your staff that does nothing but manage the running of the trade show contest. You do not want people visiting your booth with the purpose of participating in your contest, just to turn away because everyone is busy and no one is responsible for the contest. By having one person dedicated to managing the contest, you have the chance for that person to talk about your products and services with a person who may have only come for the contest. Do not just put out slips of paper and a drop box. You do not want to lose the valuable conversations with potential customers because you were understaffed.

Market Your Trade Show Contest

Make the effort to market your trade show contest before the show so that people know about it and can arrange to come by your booth. Add information about your trade show contest on your company website and send trade show marketing materials to customers containing the same information. Sending out personal invitations to participate in your trade show contest also usually produces nice results.

Continue marketing your trade show contest at the trade show and even at locations near the trade show. Place flyers about your trade show contest at the airport, hotels, outside the venue, and anywhere else you think possible attendees may be lurking. Make sure you clearly provide directions and list your booth number in your trade show marketing materials so attendees can easily find you.

Trade show contests are a fun and efficient tool in trade show marketing. A well-planned trade show contest will always draw new contacts and potential customers.


About the Author

Christine OKelly is an author for trade show marketing consultant Jonathan Edelman. Jonathan is the founder of Ideas 4 Now, a trade show marketing company offering promotional products such as video game attractions that drive traffic to trade show booths. Edelman is also the founder of the trade show vendors directory Trade Show Vendors.com.

Relaited Links:

• The Importance of Marketing Mix and the 4 Key Mix Elements
• Market Segmentation Can Help You Grow, or Gain, Market Share
• Market Segmentation Can Help You Grow, or Gain, Market Share