Trying to figure out how to write a marketing plan for your small business?
We are guessing that you are in the middle of trying to improve your marketing plan for your small business. You just realized that something don’t feel right. Your marketing plan is missing something. Below are some topics that you need to consider when writing your marketing plan.
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Section 1: Executive Summary
The Executive Summary of your strategic plan should be completed last. This section summarizes each of the other sections of your plan.
Section 2: Elevator Pitch
An elevator pitch is a brief description of your business. Your elevator pitch is included in your strategic plan. It is key to your business’ success. Your elevator pitch should be updated annually.
Section 3: Company Mission Statement
Your company mission statement explains what your business is trying to achieve. While it may seem unimportant, it’s not. Your Company Mission Statement is used for internal decision-making. Your mission statement guides employees to make the right decisions.
Section 4: SWOT
The reason to include a SWOT analysis (analysis of your Strengths, Weaknesses, Opportunities and Threats) in your Strategic Plan is to help you determine the best opportunities to pursue to achieve your growth goals.
Section 5: Goals
Setting and achieving goals is the hallmark of successful companies and is a critical element of your strategic plan.
Section 6: Key Performance Indicators (KPIs)
Great businesses understand their metrics and KPIs. By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.
Section 7: Target Customers
In this section of your strategic plan, you will identify the wants and needs of each of your target customer groups.
Section 8: Industry Analysis
Your industry analysis doesn’t have to be a comprehensive report on what’s going on in your market.
Section 9: Competitive Analysis & Advantage
Similarly to your industry analysis, your competitive analysis doesn’t have to be a thorough report listing every detail about every competitor.
Section 10: Marketing Plan
We recommend you develop a comprehensive marketing plan. This plan describes how you will attract prospects. The tactics that you will use to convert them to paying customers. And the ways you plan to maximize your lifetime customer value.
Section 11: Team
The team section of your strategic plan ensures you have the human resources to execute on the opportunities. This makes sure you can achieve the goals you established in section 5 of your plan.
Section 12: Operations Plan
Your operations plan helps you transform your goals and opportunities into reality.
Section 13: Financial Projections
The final section of your strategic plan is your financial projections. Your financial projections help in multiple ways. You can use a financial model to assess the potential results for each opportunity you consider pursuing.
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