How to write a business plan: sales and marketing
By Matthew Jenkin, theguardian.com
Experts offer advice on writing the fourth part of the business plan, which focuses on your sales and marketing strategy
Having a great idea is a good start. But going from that initial
spark of genius to turning a profit is unlikely without a clearly
thought-out strategy outlining who your customers will be, how you will
sell to them and how you intend to promote that product once it is
launched.
We asked the experts for their advice on how to write the
sales and marketing part of the business plan:
Mark Posniak, head of marketing and sales at Dragonfly Property Finance
When dealing with potential investors or your bank, it's vital that
you are strategic in everything you do. Showing a clearly defined and
well thought-out marketing strategy will give them confidence in your
proposal and make them more likely to want to be a part of your
business.
Use the marketing section of your business plan to communicate how
you intend to reach your target consumers through various channels, from
advertising and PR to social media and email campaigns. Break down the
strategy into the various areas and cover each one in detail, to explain
exactly what you intend to do and why you think it will be successful.
In the digital age that we live in, social media cannot be overlooked
for most products and services, and will almost always play a part in
your communication strategy. Not being on social media can even count
against your brand.
Richard Kenyon, chair of The Chartered Institute of Marketing in Merseyside and chief executive of marketing consultants Kenyon Fraser
The type and detail of a marketing plan will, of course, depend on
the type of company and the sector it operates in. However, there are
some key elements of good practice that underpin any good marketing
plan. Firstly, a detailed situational analysis and review of the
competition will help shape the next stage of this process, which
concerns objective setting. Objectives need to be realistic and
attainable within the time and with the resources available to the
company. Strategy comes next and details how you will go about achieving
the objectives – this is often the stage where professional support can
be valuable. Next is the tactical implementation of the strategy – map
out what activity happens and when, and details who's going to be
responsible. Finally, make sure that regular review and control measures
are in place so that the overarching strategy and the tactics can be
reviewed and adapted if required.
John Hall, founder and director of Capology
A key question to consider when writing the marketing section of a
business plan is: how are you going to provide potential customers with a
tangible experience of your product/service before they buy? This is
especially true if you are setting up an e-commerce business, as
generally speaking, the first experience a customer will have of your
product/service will be when it is delivered.
You need to know exactly how you are going to implement "physical
evidence" at a much earlier stage in the buying process in order to
reduce uncertainty. Service providers may want to implement testimonials
on their website as a way of providing evidence that you can deliver
what you have promised. Alternatively, if you are planning on having a
bricks and mortar store, you need to make sure that the environment you
create is one that is likely to resonate with your target audience and
confirm their assumptions about your business; fashion retailers are a
prime example of how this should be done.
Commentaires
Enregistrer un commentaire