How to create a marketing plan for your small business - build a brand, target customers and set prices that will maximise sales.
The internet has transformed business marketing. No matter what you do, the internet is likely to be at the heart of your marketing strategy.
Social media is firmly established as a marketing tool. Having a presence opens up new lines of communication with existing and potential customers.
Advertising allows you to promote your business to potential and existing customers. It can take the form of direct mail, email marketing, online and print advertising, leaflets, outdoor advertising on billboards and buses or sponsorship.
Customer care is at the heart of all successful companies. It can help you develop customer loyalty and improve relationships with your customers.
Sales bring in the money that enables your business to survive and grow. Your sales strategy will be driven by your sales objectives.
Market research exists to guide your business decisions by giving you insight into your market, competitors, products, marketing and your customers.
If you don't promote your business, potential customers will never know you exist or discover what you have to offer.
Sales are the name of the game if you run your own business. But being good at selling is rarely the sole reason for entrepreneurial success; passion, expertise and the desire to be your own boss are usually the main drivers.
The truth is that selling is often one of the most difficult aspects of the job for small business owners. Having a sales strategy will help to focus your attention and ensure you're making the most of every opportunity.
Improving your sales starts with having confidence in what you have to offer and understanding the needs of your customers. This applies whether you're selling products to a wide customer base or pitching to win just a few key contracts in your sector.
Having a plan is essential. You'll need to identify prospects, create a sales forecast, generate leads and convert those leads into sales. If you rely on a few key customers, it's worth brushing up on your presentation, pitching and negotiation skills. You'll also need to master the art of networking to make new connections.
It's important to consider the platforms you'll use to sell your products and services. In many industries, face-to-face selling is no longer be required, with an emphasis placed instead on online sales, product demostrations and reviews on social media, virtual product demonstrations and video conferencing.
If you're selling to a wider audience, you'll need to manage the process so that potential sales don't slip through the net. A customer relationship management (CRM) system is an essential tool that will help you keep on top of the status of leads. It'll flag up prospects and help you manage existing customer relationships so that you are maximising their potential.
As your business grows, you may delegate the day-to-day job of selling to dedicated sales staff while you get on with driving the business forward. To get the best out of your sales team you'll need to set goals, communicate regularly, listen to their feedback, offer motivation and provide any necessary training and support.
