Do you know what you are doing with your small business marketing? Knowing how to write a marketing plan can mean the difference between scattershot marketing that only registers once and well-thought-out marketing that attracts new leads and helps your business.


Maybe you wrote a marketing plan included in your business plan when you started your company...but that was years ago. Maybe he's getting ready to start a business and needs a marketing plan. Or maybe you've never written a marketing plan and you'll be marketing on the go. Whatever the situation, every small business needs a marketing plan.

Read how to write a marketing plan by answering five simple questions.

1. What is my target market?

If you don't know who your target customers are, you won't know how to sell. If you've done market research for your business plan, review that information and update as needed. Gather the following information about your target market:

Demographics (household income, age, gender, marital status, occupation, location)

Media used (websites, blogs or special publications, social media channels, TV or radio shows)

Motivation (What drives them to buy? Do they want to save money, save time, look successful, or have fun?) Motivators are generally emotional.

2. How does my business fit into the market?

First, explain what you sell; then answer these questions:

What is your Unique Selling Proposition (USP)? How is it different and better than the competition?

Who are your competitors? There may be dozens or just a few. Don't forget the online contest.

What are your marketing strengths and weaknesses? If your biggest competitor has an old trademark, you have a chance to jump. On the other hand, if you're just starting out, you don't have brand awareness yet, which is a disadvantage.

What marketing tactics are your competitors using and how successful are these tactics?

3. What are my marketing goals?

Answering the questions in step 2 will help you define your marketing goals. For example, if your business is new, creating brand awareness should be your primary marketing goal.

Choose a measurable goal, such as increasing your website traffic by X percent or getting X number of people to fill out a basic form on your website. All of these marketing goals should help increase sales.

 

4. What is my marketing budget?

Find that middle ground between spending too much and spending too little in marketing. Marketing is an investment, not an expense. If a $1,000 marketing campaign generates $5,000 in new business, the cost is well worth it.

In fact, small business owners have limited budgets. Check out affordable (or free) tactics like organic search engine optimization, public relations, and social media marketing to manage your marketing spend.

5. Which marketing channels should I use?

Given your goals and budget, determine the best marketing channels to reach your target customers. If your target market is elderly homeowners, direct mail postcards or door hangers can be great marketing channels. However, for millennials, digital channels such as social media, online review sites, or paid search advertising may be a better solution.

Once you know which marketing channels you want to use, figure out what marketing tactics to use. If you plan to use pay-per-click advertising, determine how many ads you want to run each month and how much you want to spend. If you're going to send a sales letter, set a date and budget. Write everything down so you don't forget anything.

There is still one question to ask: Is my marketing working?

Knowing how to write a marketing plan is just the beginning. To know if your marketing is working, you need to track how your marketing is doing. See where your customers come from, what actions work best, and what approach has the most impact on your portfolio.