Most small business owners understand the importance of a business plan (statistics favor the fact that a business has a much better chance of success with a well thought out business plan, by the way). But what about your marketing plan? Have you thought about how you will market your business, and more importantly, have you invested time in putting a plan on paper?
Some important elements to address in your marketing plan: What are the particular aspects of your business to advertise? What kind of budget do you have? When will you advertise – time of day, seasonal, etc? How do you maximize your budget’s reach? What kind of returns on your advertising investment do you anticipate? How do you plan to handle an influx of business from your marketing efforts – do you have enough staff? Where are your ads placed and what demographics do they target? Do you, as the small business owner, have the time to assemble and implement your plan, or do you need help from a professional firm – this could be anything from graphics design to media buying and placement. Most importantly(in my opinion), how do you track your return on your advertising capital?
All these questions must be addressed in order to put together an effective advertising campaign, whether it is an online Google Adwords campaign, or a local television or radio spot. When you think through the possibilities, problems and expenditures, you will likely save yourself a lot of money for the little time that you spend putting together a plan. You should plan for at least a year in advance on most major advertising expenditures and budget for them.
Just as with your business plan, you still must remain flexible – there is a good chance that not all of your campaigns will be successful, but a plan will certainly lessen the risk. Remember – if you fail to plan, you plan to fail!
If you would like a consultation, my team can put together a marketing plan for you – you will be happy you made the investment! Steve at 402.210.3283 in Omaha!
Have fun out there! SEM