Your marketing plan can either make or break your business. However, among all dynamic forces that can build an effective marketing plan, there are three factors that determine marketing success: trust, targeted audience and budget.
TrustMany businesses believe that marketing should be an occasional effort. This is a big mistake. One way to gain the good will of customers is to give them custom laptop bags that are imprinted with your company’s logo. Before you implement your big marketing plan, build a relationship with the audience to whom you want to sell your product. Social media is a powerful tool you can use. Instead of trying to sell your products on social media, introduce them and initiate a conversation about them. Today’s public has become increasingly knowledgeable about media messages. In other words, they know that the purpose of media messages is to persuade them to take action; hence, building relationships is more important than selling people. Most people no longer buy because they are told to do so. They buy because they know the product; they love it and believe in its value. When you’ve build a good relationship with prospects, they will buy your product and become your regular customers without you sweating blood to convince them.
Target AudienceSending out marketing messages without first defining the targeted group is setting yourself up for failure. No business, small or large, can afford to be everything to everyone. A successful marketing message is one that is created for a group of people with a distinctive need for a particular product. Once you find the demographic you want to target, you will be able to send messages that set your company apart from competitors. For instance, if you give away customized backpacks to gain marketing exposure, you’ll need to ensure that your target audience can actually use this type of promotional product. In this case, a customized backpack can be used by almost everyone – from students to working professionals alike.
BudgetThe main aim of marketing is to increase sales and ultimately improve the profit margins of a company. However, if the marketing budget is not strategically planned, the business can experience a loss instead of gain. If you have a well-determined budget, you will plan your marketing accordingly and be able to optimize your returns.
It will be easy for people to buy your products or use your services if they know you are trustworthy. Your company will benefit from its marketing efforts if the budget is strategically planned and your target audience is well-defined.