The most critical network marketing resource you must have
Truth be told, if you’re reading this article and doing research for a network marketing resource, then you’re probably looking for ways to improve your business. In that respect, if I can recommend one single resource, it would be a reputable attraction marketing system. One that will not only give you the tools to generate leads and recruit online, but will also train you in the areas of marketing and sales. This is how people find me. This is how I recruit into my business.
Beyond all the hype, the important thing to understand about this particular network marketing resource is that it plugs in the gaping holes left by traditional MLM prospecting. This is not an attack on warm market prospecting by any means. It’s just that winning in MLM when going about it the old way is like gambling. It’s an odds and numbers game. And the house always win. Which means 97% of network marketing distributors tend to lose.
Why attraction marketing systems are invaluable as a network marketing resource
What good attraction marketing systems do for you is quite frankly game-changing. Take an internet-based marketing system like MyLeadSystem Pro, for instance. Here’s a platform that first and foremost, trains you on fundamental internet marketing and then eases you into advanced lead generation and branding strategies. Simultaneously, you also end up with a marketing system in-a-box. It comes complete with automatic web pages, free offers, sales funnels and everything else you need to offer irresistible value to your visitors and reel in endless targeted leads.
Other training platforms like Mike Dillard’s MLM Traffic Formula are also a great network marketing resource. Huge fortunes have been built by students who have adopted the concepts of these attraction marketing-based training platforms. Quite simply, these work because they are designed to help you create personal value through branding, generate interest through marketing of that value, and then convert that interest into leads and paying prospects. And the great news is that anyone can do this. There is no danger of saturation. Everyone possesses unique personal attributes that can be branded and leveraged to create loyal followings. You just have to learn the systematic process of how it’s done.
So make life a little bit easier on yourself. If you’re looking for a network marketing resource to improve your business, don’t get sidetracked or put off by the hype. Yes, there’s a lot of marketing noise out there when it comes to some of these systems. But the truth is that if applied correctly, they work exactly as advertised. Find a mentor who is having success with an attraction marketing funnel and ask them to help you. Believe me when I tell you they will be more than happy to do so because in the end, they know you will need someone to show you the ropes. But perhaps more importantly, they understand that your success propels their own.
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Blog
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Recently, a fellow network marketer approached me about my primary network marketing resource for generating leads. Coincidentally, he found me because I was marketing and targeting reps in his primary MLM company. Through a little known Gmail trick, I showed up right in his inbox. The sad thing is that because he didn’t understand it, he never took me up on my offer to introduce him to the MLM lead generation tool that brought me to his attention in the first place. Meanwhile, I continue to generate targeted leads for his primary network marketing opportunity on a weekly basis while he, on the other hand, continues to struggle with his large but unresponsive warm market.
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Marketing is basically an activity, a platform, set of institutions and the processes which are used for creating, communicating, delivering and exchanging offers that are valuable and worth for the customers, clients, partners and society at large. In other terms, marketing is basically a method, a process through which companies can create value for customers by building strong relationship with them in order to attain and gain value from their customers in return. Marketing can also be defined as a relationship which can be created by any brand in terms of short terms or long terms.
There were different eras in which various modes and methods of marketing were used. Late back when technology was not so fast, marketing was done through flyers and brochures but if you are expanding your business publicly, it will expand your expenses to a great amount as printing costs are too high. Furthermore, it enhances your costing and budgeting to a high level too. Sign boards which are placed for marketing which do give good business if they attract a viewer’s eye. Now a day’s living and life has become so fast that there is hardly any time left for us to read the board and look after the brand. Even if you are stuck in traffic, and have time to read the board you will forget that once you reach your destination.
Since technology changed in the new era and new developments came into being, marketing strategies were also changing as rapid change in internet marketing came into existence, in 2002. You can also define internet marketing as the marketing which is done on the internet. It is also termed as web marketing, online marketing, e-marketing and so on. Internet marketing is also done through email and digital media. It gives a vast platform and ties up the creative and technical aspects of the internet, which includes the design, development, advertising and sales. Internet marketing also gives a platform for the placement of media along with many different stages of the customer engagement cycle with the search engine marketing (SEM) and search engine optimization (SEO). Through internet marketing, you can also place banners on specific websites. Since, there are various forms and types of internet marketing, out of which one of them is the Niche marketing. It emphasizes on creating destination for web users and consumers, on specific topics and products as they provide the users with the targeted information. It allows the creators to establish themselves as authorities on the topic or product. Mobile marketing is also a very cheap and good way to market and expand your brand globally.
The major advantage of internet marketing, over local marketing is that it is inexpensive, rather than other advertising methods and terminologies. Companies reach up larger spectators in a small fraction of traditional advertising budgets, it allows the user to research and purchase the product more conveniently rather than surfing for the product in the market. Mobile marketing has also brought a rapid change in marketing a brand more elegantly. With the help of internet marketing, it has brought the users to appeal consumers in a way that can bring results more quickly and efficiently.
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B2B marketing (business to business marketing) can be referred to as one business selling to another organization, as opposed to selling to the end user. These days, B2B e-mail marketing is certainly an economical approach.
Several procedures & approaches can be used for this sort of marketing than for business to consumer marketing (B2C Marketing).
Essentially, the main objective of B2C marketing is on impulsive buying.
Teasing consumer feelings with cunning copy writing, wonderful pictures, targeting our vanity, freebies, etc, we’ve all noticed the adverts – “How could you actually live one more day without this totally breathtaking gadget?”
Marketing and advertising high cost goods and services requires a different strategy than marketing and advertising commodities, and business to business marketing is much more specialized.
B2B Marketing Must Always Focus On Solving Problems.
You need to know what tends to make your prospects happy, exactly what keeps them awake at night, what product or service will they need to make their business much more rewarding, achieve higher sales, keep costs down, run with less problems, require less staff, etc.
B2B Marketing is Regular Courting.
Business to business marketing is a long term strategy. the actual sales cycle is longer, sometimes months or perhaps years.
Business to business marketing is not “emotionless.”
While Business to business prospective customers commonly are not ‘excited’ by common B2C motivators, such as reaction or position, various individual emotional motivators apply.
For instance, the worry of making the wrong choice, the degree of belief in the predicted Roi, the amount of faith identified in potential customers – all of these are very real emotional motivators in the business environment.
Business to Business Marketing is Focused Towards Multiple Purchasing Affects.
Usually, the marketing tactics are wide spread and reach out to as many target customers as is feasible. A sizable marketing campaign can be high priced & truly must be part of your company financial plan.
Business to business marketing can be directed at any part of supply chain operations, which is the advancement of a product or service from the point of origin to the point of consumption.
This typically requires the movement of separate elements from the producer or supplier through the sequence that creates an final item.
For instance, it could concentrate on promoting –
. The raw elements for developing a component
. The specific components for a product
. Production gear for the item
. Point of sale content
It is critical for B2B marketing to concentrate on matching goods & services to the requirements of the target audience. The merchandise or service to be marketed will need to resolve the difficulties of the target market. Otherwise why would they purchase it?
Costs and the complete value of an item or service are usually integral pieces.
There are numerous effective business to business marketing tactics. Advertising, public relations, trade events and direct mail are a few of the more widely used choices.
And… There’s The Online World.
Online marketing is simply too big to disregard and has had a massive affect in shaping the path of your marketing. From the development of business Websites, company proprietors gain access to a substantially larger marketplace than in pre-Internet years.
Products and services can be marketed by using internet catalogs, allowing the business customer to figure out what a certain company can offer with respect to products and services. Many B2B Websites provide online purchasing, which usually improves consumer efficiencies and decreases the expense of purchasing by automating the procedure.
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Article marketing from home is a great technique used by internet marketers to generate excellent passive income. This article will reveal some of the reasons why it is possible to earn great money by article marketing from home, in your own time, and at your own pace.
To understand the concepts behind article marketing from home, it is first necessary to understand the principles that govern internet marketing. Internet marketing is big business, with many reputable companies paying commissions for sales made from their websites. Internet marketers drive traffic to a company’s website and earn a commission for every sale made by traffic they have sent. Article marketing from home is one of the key approaches internet marketers use to drive the traffic to websites and earn money.
So what is article marketing based on? As its title suggests, article marketing from home involves writing copy of about 500 words per article, about specific products that are available for purchase on the internet.
Internet marketers research a specific niche, then using orderly techniques, find specific keywords about the product to base their article on. The articles are then submitted to a large online article directory and if accepted, published online. Article marketing from home is exactly that, researching, writing, submitting and publishing using your own home computer or laptop.
One important component of article marketing from home is the way that the company who will pay you a commission knows exactly which of its customers were referred by you. Although it may seem complicated, the actual explanation is not. Each internet marketer is allocated a unique tracking code that he weaves into the text of the article he is writing. When a visitor is sent from an article to a merchant site, the merchants computer logs that code and no matter how many times in a set period that visitor returns, you as the initial referrer , are credited with a sale. This is the income generating secret of article marketing from home.
So does article marketing from home sound like something you could do? Are you great with words? Do you have your own computer and an internet connection? Remember that an average article is only 500 words in length.In the old days before email we used to write letters to each other twice that length!
If article marketing from home does sound like your cup of tea, the next thing you should do is work out how you will find the guidance and reference sources to get you started. You will remember in my first few paragraphs, I noted that internet marketers who do article marketing from home use product research and keyword skills to structure their product articles. Although as an article marketer you do not need to have any pre requisite skill set, you do need equipping with the correct techniques and knowledge to get started.
On that note, take care!. There are only a few reputable internet marketing programs on line that are both inexpensive, well regarded and effective. If article marketing from home is to become the great source of passive income it should be, your choice of guidance and learning at the beginning of your internet marketing career can certainly mean the difference between success or failure in your article marketing from home endeavours!
Article marketing from home gives the opportunity to all people, regardless of age, gender or position, the opportunity to make a great passive income from home. From stay at home mom’s through to retiree’s and every person in between, article marketing from home offers a real chance to work your own hours from home, using not much more than your own computer and internet connection.
If you are interested in learning more about how to gain the knowledge and techniques necessary to successfully work at article marketing from home, you cannot go past the Wealthy Affiliate program. It meets the clear criteria of being reputable and it offers state-of-the-art learning resources for even the most novice internet marketing aspirant. Wealthy Affiliate is also inexpensive and membership can even be on a month by month basis if money is tight.
Article marketing from home gives the opportunity to all people, regardless of age, gender or position, the opportunity to make a great passive income from home. From stay at home mom’s through to retiree’s and every person in between, article marketing from home offers a real chance to work your own hours from home, using not much more than your own computer and internet connection.
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No business, online or traditional, can exist without marketing. In fact no human endeavor can ever get out of its conceptualization without it being marketed in one form or the other.
It matters not whether the end is to make money or just to propagate an idea, a principle, a belief, it must still be marketed to be known, and accepted, by the audience it is intended for.
Marketing is a very broad subject. Something a newbie can easily get lost in. Before the Internet, marketing was simpler but expensive, its coverage largely limited. Now it has become more complex but cheap. And it can be spread quite easily all over the world at the press of a key.
But before a newbie gets into its complexity, these marketing tidbits should prepare him for what is to come:
What is marketing?
Generally, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.”
Sorry, if I got you a little confused with that.
To put it simpler, “Marketing is a product or service related set of activities. To be effective, it must create the strategies, sales techniques, business communications and developments.”
Prior to the Internet, this was commonly done through printed and broadcast media (word-of-mouth, radio and TV). Now, the power of the Internet has made it possible to reach out to a broader base of potential customers in a variety of ways.
Common forms of online marketing:
The Internet has spawned a very wide variety of online businesses. By necessity, this gave way to a variety of marketing methods as well. Here are a few a newbie must know:
– Affiliate marketing:
This is a marketing type used by companies with affiliate programs where affiliates promote the company’s goods and services. Payment schemes vary, i.e., direct commissions for goods sold, or for bringing in other affiliates or by viewing sites.
Affiliate marketing occupies a huge chunk in the overall online business marketing.
– Display advertising:
This is a marketing method where companies display their banners, logos, widgets in other people’s websites. This increases awareness among a broad range of viewers which, hopefully, will visit the company and buy its products.
– Email marketing:
In this marketing method, companies or individuals send promotional emails to targeted customers. It is fast, simple and cheap.
The downside is that unless done the right way, you could be banned for spamming.
– Interactive advertising:
This is similar to display marketing but uses animation and computer graphics rather than static banners to get viewer attention. Definitely more lively, it is also more expensive to set up and manage.
In some interactive advertising, viewer participation is required.
– Search engine marketing:
In this marketing method, companies use keyword-rich ads to increase their odds of being viewed by people searching the Internet for items of interest.
Search engine optimized ads use the services of high-flying copywriters for their expensive marketing campaigns.
– Viral marketing:
This is a “pass-it-along” kind of marketing. Companies using this type encourage viewers to pass the information along to friends, relative and associates by offering incentives like a free report, a free e-book, and subscription to a newsletter, a free website, a mailing list, etc.
This is heavily used in affiliate marketing as well.
Regardless of method, online marketing is convenient, affordable and fast. It also allows advertisers to track marketing results. Because it is cheap, practically anyone can do it from their homes.
The downside of online marketing is the inability of customers to touch, smell, taste, and “try on” the tangible goods they are buying – things considered important for most people.
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Finally, multi-level and network marketing companies are taking a giant step forward in providing their downlines with automated marketing systems. They have moved into the 21st century and are using technology to help people build their network marketing businesses. I myself am involved in two companies who provide these automated marketing tools. These forward-thinking companies are taking the one-one-one coffee shop presentation out of Starbucks and onto the web with sites such as gotomeeting.com, where the same presentation can be given to a group all at once, instead of to one person at a time. These companies are finally recognizing the inefficiency of old-fashioned MLM marketing techniques and are doing things to help their network marketing business builders become successful more quickly and easily than ever before. Let’s now talk about the automated marketing system that actually leads an interested prospect, step by step, to the desired end result of becoming a member of your network marketing downline.
So, what exactly IS an automated marketing system? Usually it contains a few key components. The first and most important component of the system is a lead capture page, also known as a landing page. This is a web page that someone may visit as a result of advertising, either online or offline, to find out more information about a product, service or business. Usually on the lead capture page of the automated marketing system there is some cleverly written copy, or perhaps a video for them to watch, that will cause the person to want more information and go further down the line toward becoming a member of your organization. A very important feature of the lead capture page is the opt-in form. This form asks the person viewing the site to provide you with his or her name, email address, and if you would like, even their phone number, before you give them more information. That is really exciting, because this one step, and whether or not they choose to take it, is what separates the information gatherers from the people who are hot for whatever it is you have to offer. Do you realize the importance of what I just wrote? The people who fill out the opt-in form have raised their hands and showed you that they are very interested in what you have to offer, and they are giving you permission to market to them. Each person who opts in to your site becomes what is known as a pre-qualified lead, which means they have just pre-qualified themselves as an interested prospect! That has just eliminated most of the work for you in finding out who really wants to hear your story and who doesn’t. With that one landing page, how many people did you have to speak to in order to obtain their contact information? In most cases, absolutely no one! Sure, in some instances you will speak to someone in the course of your day and verbally send them to your site (landing page). Even right there in that one step do you see how the conversation has changed? You are not trying to sell the whole idea right there and set up another meeting with them, you are just sending them somewhere to get more information on their own, and if they want to know more, they will let you know! More importantly though, with this automated lead generating marketing system, once you get all the components up and running and you are driving traffic to your site (more about that in a forthcoming article), it is on autopilot for you! Are you beginning to understand how valuable this type of automated marketing system can be?
Once the reader has opted in to receive more information, this is where the MLM companies with automated marketing systems truly deliver. Some really great companies provide you, the network marketer, with really great marketing pieces that explain the business to the prospect in one or a series of videos, and they provide a way for the prospect to take action. By that I mean there is usually a link for them to sign up or go onto your waiting list, making it virtually effortless for you to bring them under you in your downline. If they don’t sign up then and there, though, all is not lost. That is where the next key component of a good automated marketing system comes into play.
The next important part of an automated marketing system is what is known as an autoresponder. Remember when your prospect opted in to your marketing system to learn more about your business? Well, they handed you valuable information about themselves – their name, their email address, and depending on the opt in form, their phone number. The autoresponder enables you to collect those email addresses and keep them stored in a database so that you can easily send follow up emails to them as a group, instead of sending out individual emails. Guess what else autoresponders can do? You can set up a series of emails and designate on which days you will send them to each prospect, even if they were added to the database on different days! So, you only have to write them once, the autoresponder takes care of the rest. It is sheer genius. One example of an autoresponder site is aweber.com. There are others as well. Better yet, the MLM and network marketing companies who are providing you with automated marketing systems usually have an autoresponder in place for you as part of that marketing system!
Ultimately, a good MLM automated marketing system drives your prospects to join a live recruiting webinar that is usually done by the master marketers of the company, using sites like gotomeeting.com or gotowebinar.com. This is invaluable to you, because let’s face it, anyone in the beginning of their network marketing career isn’t very savvy at giving the presentation and making conversions happen; that comes with practice and listening to the masters.
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Many industries have already changed with the changing times, gaining and building a reputation for tech savviest. One such industry is real estate. With a range of technologies in real estate postcards marketing becoming more available to realtors and as the necessity to include more services becomes more demanding, the industry itself has grown more and more dependent on technology. A great part of marketing nowadays is technology-driven. Technology is also necessary to make the industry generally appealing to people with different backgrounds.
The present trend among realtors today is to jump into the tech savvy bandwagon and search for various ways to use technology for the betterment of their businesses. Technology has time-saving and cost-efficiency dimensions that quickly build business reputation and bring in a variety of buyers, sellers and investors. As a result of this trend, a strong demand for faster and more effective marketing technologies has emerged in the industry.
Technology Changes Everything
For the past two decades, technology in marketing has rapidly evolved. It is now imperative for every individual working in the industry to own a gadget or device that would make them more accessible to prospects. These technologies not only facilitate marketing, but they also change the way realtors approach their clients and interact with other members of the industry.
The purpose of having new marketing technologies is to make a realtor’s job a pool of useful information which can be applied pragmatically – and not just about volumes of prospects and piles of business cards.
The Local Nature of Real Estate Marketing Technology
Property management software is a new technology invented to provide more ease and flexibility to various marketing ventures. Chris Thorman, tech blogger, blogged about this software at Software Advice. In his write-up, he challenged everyone in the business to understand every nook and cranny of new marketing technologies and share their knowledge of them with the public. Sharing sparks interest and catches the eyes of prospective buyers, sellers and investors. Moreover, these technologies are bound to change the landscape of marketing.
One thing to note when looking deeper into new marketing technologies is that such technologies should be location-based to help prospective buyers locate properties within their area or any other desired location.
The Future
Technology in real estate marketing goes nowhere but forward. Real estate has rapidly evolved throughout the years along with new technological innovations. The inevitable route is a more automated and more convenient marketing process along with more effective and less costly marketing campaigns. Presently, there is still a lot of developments to pursue and the whole system needs some improvements too. However, with the addition of new marketing technologies such as the property management software mentioned earlier, the possibility that homes will start marketing themselves is not altogether farfetched. The caveat here is that such technologies should also be wary of and flexible enough to accommodate the volatility of the local market and the global economy in general.
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Most people ask “what is marketing” as if it’s a single entity. The truth is that marketing is so huge in scope that it can be defined in a thousand ways. With the entry of online marketing, the scope went even larger. For this article though, we are going to focus on niche marketing which is getting prominence nowadays in the online marketing arena due to the increasing level of competition online. The concept of niche marketing was born when internet marketers started building businesses that are tightly focused on small but uncompetitive markets. This move primarily aims to differentiate their businesses from the ones which are already dominating the markets.
What Is Marketing: The Basics Of Niche Marketing
The main goal of niche marketing is to target a niche that is part of a larger market and dominate such niche. Let’s say for instance that you are into the business of selling shoes online. Well, there are dozens of already established shoe merchants online. So if you try to get into the mix and compete with them, you will be committing business suicide. So what you need to do is focus on a specific niche within the shoe industry. For example, you could set your eyes on “ballet dancing shoes”. Selling “ballet dancing shoes” would then become your niche. This is how niche marketing works.
What Is Marketing: Niche Marketing Tips
1. Do your research. Larger markets can often be divided into numerous niche markets. What you need to do is research and find out which of these niches can be monetized and which have the least competition. Always remember that just because a market is small and tightly focused doesn’t mean that it’s not competitive at all.
2. Try to target several related niches then build businesses for each of them. When all your niche businesses are up and running, you can interlink them together. This way, the customers of one niche business can also become customers of the other niche businesses. This won’t be hard to do since your niche businesses are related to each other.
3. Always keep yourself ahead of the competition. No matter which niche you are into, there will always be competition. With that said, you should always be working on making your products/services better than what the competition is offering.
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Indian stock market is on a falling spree and has been volatile with a downward bias post Diwali last year when markets have hit a high of Nifty 6350 near the all time high. Since then markets have traded in a range, but past few days on the back of concerns shown by FIIs have taken the markets to a new lower range on the back of High inflation, political tensions, loads of scams, political drama’s, news of weak IIP growth figures, fear of RBI rates hike etc have caused great volatility in Indian Stock Market while the Global peers looks stable.
So why is the market falling and why are FIIs selling stocks in India?
Foreign Institutional Investors (FIIs) have poured in lot of money whole 2010, approximately $28 billions of money came to India from the global investors. Whole 2010 rally came on the back and support of FIIs who kept pumping money on all rises and prices.
Indian Mutual Funds have rather seen withdrawal’s than new investment and they have been on the sidelines. Now those FIIs who were regularly buying are shaken by internal issues and affairs our country, India is currently facing.
Indian Government in a Catch 22 Situation
High Inflation remains the major challenge for the Government. It’s a Catch 22 situation for our Government, since they have the responsibility of taming down prices and inflation without hurting the economical industrial growth.
Lower IIP no.s came as a double whammy for our market, already a market which was surviving many financial scams, corruption issues, political tensions and opposition drama’s, lower IIP no.s was not expected by our market and it sent the market on a knee jerk reaction.
All these issues along political stability have worried the FIIs and they have been selling and withdrawing funds from riskier assets to safe havens. The Global scenario looks much more stable for now and that also tells you that money is moving out from here and going to places where there are less internal issues for the time being.
It’s Not Exit India for FIIs – Just Temporary Weakish Sentiments
Its the sentiments and human psychology which makes investors Buy – Sell or Exit a stock or a country overall. With the FIIs selling these days, lots and loads of people are worried and asking if the FIIs are exiting India?
Lets talk logic. They invested over $28 Billions last year in Indian equities, markets have gone up a lot since then, its not a crime that FIIs are booking profits and taking some of it to home. They may be selling now and they will again buy at lower levels when prices reaches there desired zone.
When Will Nifty – Market Stop Falling To Rise And Go Up Again?
When Fundamentals don’t speak much for telling the story, its the skills of technical analysis which helps understanding the market and its future. Fundamentals cannot predict peaks, neither can they predict market bottoms, its the technical patterns and studies which delivers something which looks so unpredictable.
Our analysis on Indian stock Market suggests that markets are headed further down in the days ahead. For now Nifty’s future (5654) don’t look bright and I maintain that it could see 5400 levels on the downside, precisely 5370-78 is the target I am looking at. But it will not go there straight, it shall require some more pain and reaction which will take place in a process.
My understanding of market tells me that, Nifty will show a temporary bounce back from 5550 levels on Nifty Future, which is 100 points below from the current market price. We are very likely to see at least a 120-130 points bounce back on Nifty off 5550 levels which is the next immediate support level for market likely to act as a cushion.
Nifty Lower End Target and Bottom Price
The dead cat bounce will be short-lived and is likely to happen quickly off lower levels. On the higher side while bouncing back Nifty Futures will face strong resistance at 5705 and 5750 levels which shall take something to cross failing of which will again cause a major sell off taking it towards the panic zone of 5370-5400 on Nifty.
For now it looks like that the bottom for markets to be near 5400 levels. By the time it happens almost everything will be discounted and then markets will be looking at a favorable financial budget, speculation of which will take the markets up bringing in the much required stability.
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What happens when you go to the grocery store without a list? You typically end up buying a bunch of stuff you don’t really need, spending more money than you planned, and come home to realize you forgot quite a few things. Then you have to go back again to get everything right. This is the same scenario you will face when you don’t sit down and write a marketing plan. It may seem like a waste of time, when all you want to do is jump in and get started, but actually sitting down and writing a marketing plan will save you time, money, and frustration in the long run. Here is what a marketing plan can do for your business:
Help you Focus on a Target Market
Without a marketing plan, it’s easy to get caught up marketing to everyone instead of a specific target audience. When you sit down and write a marketing plan, you think about who has a need for your product or service. You look at demographics such as age, gender, location, and education. When you narrow down your target market, you’ll be able to focus all your marketing dollars on an audience who actually has a need for your product or service, and stop wasting money marketing to an audience who has no interest.
Help you Spend Your Money More Efficiently
How do you know how much money you will allot to your marketing efforts, or determine if you are over or under-spending? Generally, around 10% of sales should be spent on marketing. Once you figure out this number and actually get it written in your plan, you will easily see how much you will be able to spend of each marketing strategy, and keep yourself from going over-budget.
Help You Focus on Specific Goals
Are you trying to get more sales? More leads? Increase brand awareness? Without a marketing plan, you don’t have a specific goal to work towards. All of your marketing efforts are going to help you work towards your goal, but if you don’t have a concrete goal written down ahead of time, you may find yourself getting off track in your marketing efforts.
Help You Monitor Your Competition
You know your business is going to have competition, but do you know how you compare to them? With a marketing plan, you take the time to find out exactly how you stack-up against the competition in terms of price, products offered, marketing strategies, etc. When you are able to see a side-by-side comparison, it will help you know what you need to do to gain the competitive edge.
Focus Your Marketing Strategies
Are you going to run a newspaper ad, or send out marketing emails, or focus on social media? There are tons of choices when it comes to marketing strategies, and you can’t do them all. If you have taken the time to define your goals and target audience in a marketing plan, you can decide what strategies will work best to achieve those goals.
Creating a marketing plan requires some effort on your part. You have to do quite a bit of research and planning ahead of time, and it is an ongoing process that will change as your business grows. But a well-written marketing plan is like a map, leading you the direction you want to go and preventing you from getting lost along the way. Take the time to write a detailed marketing plan now and your business will definitely reap the benefits down the road.
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