Notes on Sales and Marketing

Create a Marketing Plan A good selling final cause can shape the way you connect to your existing customers and attract new ones. It can also facilitate you determine the types of customers you should target, how to reach them and how to track the results so you agree what works to increase business. If you dont energize a selling plan, creating one is not difficult. A successful merchandising plan doesnt have to be complex or lengthy, but should contain enough information to help you establish, direct and coordinate your marketing efforts.To help you through with(predicate) the process, weve identified five steps to follow. These encompass information gathering before you write your marketing plan, the draught of the plan itself, and updating the plan after youve created it. Along the way we use Margies start, a new 25-person work service company, as an example. dance step 1 Position your point of intersection or operate To start your plan, elapse in mind the four Ps o f marketing product, price, promotion and place. Your goal is to put the accountability product or service in front of the right customers, at the right price and at the right time and place.A good way to get started is to answer some basic questions about your business. The following scenario for Step 1 is based on the marketing plan used by Margies function. Who atomic number 18 you selling to? Margies break provides personal work services to busy working professionals. Based on collected data, the typical clients are homeowners between the ages of 35 and 55, with yearly incomes of more than US$100,000. What do those customers need? The target market for Margies Travel is affluent working couples with children who want travel plans customised for a family.The companys goal is to provide convenient, unique and relaxing travel experiences appropriate to each family. What distinguishes your product or service from the competition? Margies Travel has a competitive reward in its ability to accommodate families with children of all ages, from putting together fun and entertaining travel packages to fashioning special accommodation travel plans with short or extended notice, flying domestically or internationally. Margies Travel also has the advantage of being a home-based business that equires lower overhead and start-up costs than a traditional travel service business. Are there marketing tactics that work best for your business? investigate indicates that the most effective advertising tool for a service like Margies Travel is small parade ads in local papers, such(prenominal) as a weekly community newspaper with a paying(a) subscription base of 5,000 to 40,000 readers. Margies Travel also places ads in the local boating community newsletter, and sends brochures to larger businesses. By answer these key questions about your business, you can develop a solid foundation on which to build your marketing plan. Step 2 Ask for input from believe adv isors To ensure that you have a clear sand of your own business, it is a valuable practise to gather information from those around you. Set up meetings with trusted friends, staff, advisors and peers, and ask for their input on the following Who is your business selling to? What do your customers need? What distinguishes your products or services from the competition? When and how often should you employ marketing efforts? Where should your company be one year from now? acquiring feedback on these aspects of your business can help you prepare your marketing strategy as well as create targeted materials. Step 3 Ask for input from customers and prospective customers To successfully market to customers, you need to learn how they react to your product, pricing, brand or service anything related to your business. Ask several of your current and prospective customers what they cogitate about your business, products and services, potential to sell to them, and competitors.You can ask them by e-mail, telephone or marketing postcards. Incentives, such as discounts or samples, can encourage feedback. Step 4 Draft your plan Now that you have feedback and an outline, you can draft your marketing plan. Start by summarising your market position and goals, and define what you expect to strive in a specific time period. A typical marketing plan might be organised in the following way Market Summary Competitive Landscape Product similarity and Positioning Communication Strategies Launch Strategies Packaging and Fulfillment Success Metrics Marketing Schedule With a marketing plan in place, you have a structure you can use to help salvage your business on track. Step 5 Track your results, update your plan Reviewing your plan every sixsome months helps you determine whether it is producing the results you need. You can easily track your progress with a spreadsheet, where you can also calculate your marketing costs and compare them with sales and other met rics. You should also update your plan regularly to respond to ever-changing market