You could create a marketing plan with an exhaustive analysis of your target market, plus innovative strategies to attract that market. But you won't be able to tell if your hard work paid off unless you set goals and benchmarks to gauge your success.
Your Competitors: Much of the measurement will involve your market analysis, particularly analysis of your competition. You want to beat them, so look at how they are doing, and set that as one of your benchmarks.
Hard Numbers: Estimate how many customers you hope to have and how much more in sales you plan to make for a certain time period after you launch your marketing plan. With all your research, you should be able to deliver a percentage or an amount.
Plan Expenses: Lay out your strategy to boost business in detail, and then determine how much each strategy will cost. Compare that with how many customers you want to come in so you can find out the cost per customer. Then you'll be less likely to overspend just to attract a handful of customers.
Tracking Customers: All of your marketing plan strategies should include a way to track their success. You need to know how customers found you and whether or not that ad you placed in the paper or your brand-new Web site worked. Look back on previous sales. Give surveys. Track customers via coupons that you use in your campaigns.
Your SWOT: A good marketing plan will also include a Situation Analysis that describes your SWOT, or your strengths, weaknesses, opportunities and threats. This analysis isn't as satisfying as hard numbers, such as an increase in sales, but, when you have tried everything listed in your marketing plan, you can write a new SWOT and compare it to the old one.
 | Finding the most effective marketing methods for your individual business may come down to trial and error. Drafting a well-researched marketing plan can help you choose those trials more wisely and see better where you succeed and where you err. |
 | By writing a mission statement, you can help keep the purpose of your company in the forefront of every employee's mind, while also informing customers of what goods and services you provide. |
Writing your marketing plan is one of the most important things you will ever do for your business. It outlines the structure of your company as well as presents your goals and objectives in a clear and concise matter. |
Whether you have a formal written plan for your business or just a bunch of great ideas in your head, there are always going to be goals you set out to achieve. You will often think in terms of what do I want to accomplish in the next six months, as well as where do I want to be in five years. |
A lot of people have dismissed blogs as online diaries full of meandering thoughts. However, business blogging may be an effective route in marketing your small business. |
