Creating a marketing plan without a marketing budget is like driving a car with no petrol…. You don’t get far. A business of any size should have a marketing plan and budget. Marketing is critical to generating business; without it people may not know you exist. Here are some basic steps:
1. ALLOCATE a % of revenue to marketing activities.
2. Decide who your TARGET MARKET is. How do you reach them? how do they like to be communicated to? Explore social media, websites, relevant publications, events, CRM and online marketing tools.
3. Put a PROMOTIONAL PLAN together. How will all the promotional elements work together and when?
4. BUILD YOUR BUDGET. Create a spreadsheet.
first column = marketing channel / tool
second column = description (name of service provider)
next columns = one for each quarter with the marketing cost broke into quarters. (so you can review and stay on budget).
5. ASSESS YOUR BUDGET – look at it regularly and keep track of what is working. If you have spent money and not had a ROI then don’t put in next years plan.
The marketing tools that provided the biggest bang for you buck should be replicated and increased.
If all this is too hard, give us a call we can do a marketing plan and budget for your business.