Gorillas start at the beginning, at the strategic
planning level. Now if you're in a large corporation, you usually don't have
control over top decisions at the CEO level. But if you have responsibility for
the on-line marketing aspect of your company, if you're a small concern
with an existing business, or if you're planning an Internet start-up, you'll
have to have an on-line internet marketing plan. Have a look at our prelim
marketing plans. They are good affordable and fast.
Internet marketing fulfills a vital
function. A business owner must be familiar with the business's
customer base, as
well as the strengths and weaknesses of the
internet business's competitors. These factors, and others, should be
identified in a well-prepared marketing plan.
A good plan will outline how
a business can attract and retain on-line
customers, how it will
compete against its on-line
competitors, and the budget needed to attain positive results. It should
include market research, the target customer groups,
competition, the product or service being sold, budget, and on-line
advertising and promotion.
An effective marketing plan begins with
conducting market
research. This will provide relevant data that will help you solve any
potential marketing problems. .
If using a direct mail survey, be sure to
keep your questions short, with a total length of no more than two pages. A
consumer probably won't voluntarily fill out and mail back a long
questionnaire without an incentive. In addition, you should include a
postage-paid envelope, so that the respondents don't have to pay for the
privilege of helping you.If your budget is sufficient, send a reminder about
two weeks after the initial mailing. Keep in mind that direct mail is
probably the most costly form of research, with the printing of direct mail
pieces, envelopes, postage, and any incentives used, and usually has the
least favorable response rate.
Phone surveys are usually the most
cost-effective manner in which to conduct a survey, in that you don't have
print or mailing costs, and have a better chance of getting an individual to
respond than if you simply mail a survey. The main costs are the
interviewer's fee, phone charges, and preparation of the questionnaire.
Focus Groups are
another way to gather specific data of your target audience. Your main costs
are the interviewer's fees, expenses in recruiting and assembling the
groups, renting a room if necessary, research time, any incentives used, and
the cost of recording the interviews, if necessary.
Secondary data is also imperative to a
successful market plan. Reports and studies done by government agencies,
trade associations, or other businesses within your industry can give you
important statistics on the area of research.
No matter what type of market research you
do, your focus should be on gathering enough information to determine who
your potential customers are, if there is a demand for your product or
service, if there are competitors in your area and, if so, how successful
they are
in the marketplace.
- The Components of Your Marketing Plan
Once you complete your market research, you
are then ready to develop your plan.
Listed below are some basic components you should include.
Include a brief summary at the beginning of
your marketing plan to summarize its contents.
Discuss your marketing objectives. They
should be clear, measurable and attainable within a specific time period
(one year is usually the most effective time period for a marketing plan).
If you have more than one goal, make sure they compliment each other, and
make sure that components of your plan support your marketing goals.
Define important characteristics about your
business.
Analyze your customers based on age, sex,
profession, income, educational level, and neighborhood. Where do your
customers shop? What qualities do your customers value most about your
product or service? What qualities do they least like about your product or
service? Are there prospective customers who haven't heard about your
product?
Who are your competitors and how do you
differ from them? How do your promotion methods differ from theirs? Is there
a demand for your product or service, based on other competitors' successes?
What are the similarities and dissimilarities between your product or
service and your competitors'?
Describe in detail your product or service,
emphasizing its special features, selling points, etc.
Write a description of your URL,
and the advantages and disadvantages of the
URL.
What are the costs allocated for advertising
and promotions, including any organic
and PCP campaigns? List the
advertising choices you will use and
estimate the cost for each . Is there money in the budget for public
relations activities, such as press releases or community sponsorships? Are
there any possible future marketing methods to attract new customers?
How will you price your product or service?
Will it be below or above the competition? Will you factor in internal
costs, such as materials, labor, overhead, etc.? List your pricing
techniques and give a brief description of each technique.
A well-written, comprehensive marketing
plan is fundamental to all business ventures because it describes how you
plan to attract and retain customers, how you will compete, and what
resources you have available to achieve your business goals.
