Wed, September 26, 2018

Simple and Effective Business Plan – Promoting your Business

funny image of business plans
PROMOTING YOUR BUSINESS (Marketing)

Most business plans call this section a marketing plan. They want to see how you will get customers to know about your business.

First let’s define. Advertising is the ‘look’ of your company. These are things people see: logos, banners, web design, etc… Marketing is the ‘message.’ I want to make sure you get a good grasp on the difference. We want to get our message out there so people can know our business. Advertising is part of marketing, but it should include a bunch more than that. Many people today call it ‘promotions,’ but people can get promotions, schools promote from grade to grade, so let’s stick to ‘Marketing.’

With marketing, we want to attract customers. There are a lot of areas to consider: tactics, budget time

TACTICS:
Start with your target market in mind. List ways you will try to reach them. This could be anything from Twitter, to contests, to flyers to full TV ads. Tactics just means the way you will get the message out there. Remember, marketing is all about the message. Think about things like referrals, contests, web pages, videos,, stickers, t-shirts, direct mail . . . whatever works for your business concept. Don’t be afraid to think outside of the box and I would suggest doing some research on ‘guerilla marketing.’

GOALS:
Remember to always start with your target market. Goals are time-based. That means that you may send a twitter a day for a month, followed by an email a week for a month, etc.. You may buy a billboard that says, “coming soon the greatest business on earth” and have it up for three months, followed by your actual business billboard for the rest of the year. You will want to have some way of tracking what you do. Set up your marketing for a year, and list specific dates you will start the next stage.

BUDGET:
I know teens may not have a bunch of money, but you will have to spend money on some sort of Marketing. It is possible to do it for free, but you will at least want to have a hosted web page with your own domain. If you can do it all for free, great! If not, put a specific amount you are willing to spend, even if it is just a few bucks to make up some flyers. It may be a percentage of your sale, but you will need to start marketing before you have any sales.

MAKE IT HAPPEN:
Set up a 1 month, 3 month, 6 month and 1 year marketing plan. IF you are going to do flyers, design them and add them to your ‘appendices’ for your business plan. By now, you should have gotten a folder to hold all your business plan pages. I would suggest getting a folder with pockets, or a report cover where you can add and take way pages easy. All of these pages can be combined in an online document, but it helps to have some ‘scratch’ paper where you throw out a bunch of ideas that may help later.

Marketing is all about getting the message out there. The more your message sticks to someone’s brain, the more likely they are to use your product or service. They say, it takes someone 7 times to be exposed to marketing before they will recognize your business, so do all you can to put your message in front of your target market 14 times. Then, if they only see it half of the time, you will have a good customer. (You may want to read up on branding, slogans, logos and marketing in our other articles.)

Continue through “Simple and Effective Business Plans” here:

The Simple and Effective Business Plan
Introduction
1. The Business Idea – Concept
2. Defining The Market – Customers
3. Sending Your Message – Marketing
4. Creating Your Future – Forecasting
5. Communicating About Money – Financials

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2 Comments to “Simple and Effective Business Plan – Promoting your Business”

  1. tyloid says:

    Marketing can make a business or even a fund raiser fail or succeed for example we are having a FCA basketball tourtament but for the first couple of days no one signed up i’m going to try to use these princibles next time thanks for writing

  2. TBC says:

    Way to put it into action. Keep up the good work, buddy.

 
 

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