Business plan marketing is a new approach to growing and marketing your business. Your business plan is an essential document that forms the backbone of your business. It communicates exactly what your business is, how you plan to build it, and what specific, measure steps you are going to take to achieve your goals.
If your business plan is the backbone of your business, it can be of enormous benefit to your business marketing efforts. Your business plan will help you decide which types of marketing will bring greater profits to your business and which will simply drain your budget.
As you take the time to put your business ideas and goals in writing, you can determine your target market. What is a target market? Sounds kind of scary, but in reality your target market is simply the group of people that you want to promote your products or services to. Determining your target market is one of the first steps in planning your marketing efforts. Can you see how the idea of business plan marketing can save you time and money?
Having a business plan, and knowing who your target market is, will automatically lead you to create a marketing plan for your business. A marketing plan is a written plan of action that communicates exactly and specifically how you are going to market your business. It helps you stay focused on the most profitable marketing methods. There are many ways to market your business such as paid advertising in newspapers, magazines, the phone book, and online. You can also use direct mail, business cards, flyers and referral marketing. You can even be a guest on a radio show or television program, or do public speaking, all of which will gain exposure for you and your business.
Your business plan and your marketing plans are tools to help you decide which marketing ideas will work best with your business. It is way too easy to try all kinds of different marketing approaches willy nilly, without planning or testing your results. Business plan marketing ensures that you always have written business goals, measurable and achievable action steps. If you ever get confused about your marketing efforts, take some time to re-read your business and marketing plan. This will help you decide if the new marketing idea you want to try will actually reach your target market and if it is a worthwhile investment of your marketing dollars.
Another great way to market your business is to develop relationships with other business owners that offer complementary products. As your business grows, you will determine which directions you want to take, and you can start scouting out possible future business partners.
For example, if you have created your own line of business briefcases for women and would like to start offering diaper bags, you can start researching the top baby and work at home mom websites to see if they would be interested in helping you promote your new product line.
Your business marketing plan should also include a plan for how you will retain your customers after their initial purchase. Some ideas for encouraging repeat purchases include special customer-only sales, backend sales, and free gifts for customers. This is also a great time to work with business owners from related businesses, to encourage referrals.
Business plan marketing can help you to build and grow your business sanely and with wisdom. I encourage you to try it! If you don't yet have a business plan of your business, see our free business plan template.