SCORE offers free business mentoring services and affordable workshops to any business owner in Southern Arizona. Here is some advice from SCORE that may help you build a marketing plan:
A good competitive market analysis may help you identify niche markets currently underserved by your competition. This can help you price your products and services correctly as well. Spend some time researching your competition. The knowledge you gain may provide you with a competitive advantage.
There are several potential target markets for every product or service you offer. Some target markets are much better than others in terms of demand, profitability, level of competition and ease of entry. By comparing each potential target market, you can determine the right ones for your business. Focus on the best ones first and do not try and market to everyone. A good rule of thumb is to target just a few markets at a time.
Once you have identified the right target markets, how are you going to reach them? Which channels will you use to get your message across? What message will you use to motivate them?
If you have a good understanding of each target market, you will know the right methods to reach them. This knowledge will also help you design the right messages to motivate them. It is important to note that each target market may have completely different marketing strategies and messages, specifically designed for that market.
Finally, you must have systems in place to track the results. It is important that you know what is working and what is not. Which targets are producing the best results? Which messages are the most effective? If one target is not producing, is there another target you could focus on instead? Remember, you cannot track what you do not measure.
Once you know what is working, do more of it!
