Many entrepreneurs think developing a small business marketing communication plan is a daunting and time-consuming task. But it doesn’t have to be. You don’t need a complex marketing plan to get where you’re going; you just need a workable plan that keeps you heading straight on the road to success.
A small business marketing communication plan includes:
Understanding Your Market and Competitors:
An easy way to know your market is to simply ask customers (and prospects) what they want. See what your competitors are doing. Can you provide the same product/service at a lower cost and with better service? Important elements of a small business marketing communication plan include understanding:
If you’re a big fish in a small pond or a small fish in a big pond – You’ll be chasing a different type of customer depending on what type of “fish” you are
How you can capitalize on your competitors’ weaknesses – What do their customers want that they’re not delivering?
Whether there is too much competition in your market – Think about the best niche for your business
Understanding Your Customer:
This is a critical aspect of your small business marketing communication plan. When you know who your customers are, what they desire, and what motivates them to buy, you can effectively market your product/service to them.
Developing Your Marketing Message and Communication Strategies:
Your marketing message will begin with defining your unique selling proposition (USP), that one thing that sets you apart from your competitors. A compelling marketing message lets prospects know:
- You understand their problems or needs
- You’re the best business to solve those problems or meet those needs
- Your solution will benefit them in very specific ways. Remember to focus on benefits rather than features. Features attract. Benefits sell.
Your small business marketing communication plan should also take into account the ways you’ll deliver your marketing message. Focus on a few mediums that make the most sense for your target market. Examples include:
Websites
- Advertising
- Direct marketing
- Social networking
- Business and professional organizations
- Client Events
- Trade shows
- Signs and banners
Setting Goals:
The goals in your small business marketing communication plan should be both financial and non-financial. Financial goals include annual revenue, gross profit, and marketing budget. Non-financial goals include the number of clients acquired each month, the number of face-to-face meetings, and so on. Remember that all of your goals should be measured as you continue to develop your small business marketing communication plan.
Developing Your Marketing Budget:
If you’re just starting your business and you’re unsure of your marketing budget, assess your available funds and begin with a ballpark number. After you’ve been in business for awhile and have tracked your goals, you’ll have a good idea of what it takes to market your business. You can update your small business marketing communication plan accordingly each year.