Have you ever wondered why do I need marketing planner for my small business?
Well, on this episode we are going to cover how to get more clients faster getting, you know into market place, faster and more profitably.
Join me on this episode of the virtual entrepreneur. If you're new to this podcast, a very warm welcome. I am your host, her bed, innocent, and today we are talking about getting why a business plan and why you might need for your small business so if you don't have that, this should be very useful to you. So this is the go to podcast for entrepreneurs who see their business as a vehicle for change, and I bring you the tips the tricks and the big secrets, the how-tos and the success stories, the success stories from entrepreneurs around the globe.
And on our previous episode we talked about pricing models and how if you are using the wrong price model, you might actually be leaving a lot of money down on the table. By using the wrong pricing model and so if you want to go. If it's something that you want to think about, then go to our last episode stub this one go to the last episode and listen to that and when you're done, you can come back, we'll be right here, and the note from our last episode can be found at habit marketing help.com.
So, with that said, let's jump into today's episode which is episode on marketing plan for your small business and what I want to talk about here is in terms of marketing plan when it comes to marketing plan.
The first thing that you might be getting out of it easy to get the bird's eye overview, and what that means is you'll be looking at your business from the top down, looking at what it means, as it moves out from your main buildings and offices down into acquiring customers and bring them into your business. So you can create those transactions, and that's what a marketing plan really does it shows you where to go to in the art world, it's like really a planning adventure, we're gonna go and bring out all these people that you can serve and help them get a better result.
And one of the things that you've noticed, is the first thing is you start getting opportunities if you create a very good marketing plan.
You also do market research and to show you opportunities that you can take it will show you all these considerations, they'll show you different pricing model, it will show you a lot of elements about your business, some of which you didn't consider at first, and this becomes opportunities and leverages that you can use to really accelerate you forward, but it can also be too much work at once. What do I mean by this. Well, if you have a plan.
One thing that can happen is, most people have plans and don't follow them, and that's what's gonna happen. Right, so people will see that you have this plan but following it, you know, just because you have it doesn't mean you follow it, and what's gonna happen is you have this plan, but because there's so many opportunities, so many ways you could take action in, you could get polarised and not take action.
Right. And so that is one of the key things that usually happens with marketing plans, people write them marketing plans business plans, and then they don't really take action upon them, but really a marketing plan is a tool that can really show you where the hanging fruits are so you can create a strategy to go and capture and acquire those new clients faster, easier, cheaper, and even profitably without spending too much effort, energy testing to see what works and what doesn't. And so this becomes a very good way for you to grow your business.
Once in a while serving more people but also really utilising the best of what you have in terms of resources, and also in terms of available opportunities that you will go about so if it's very done well with an action plan, then it becomes a very powerful useful to the next thing that can really help you it is being able to essentially capture and keep the peace of the marketplace, right, because it shows you all these areas that your business can expand into all these opportunities that it can leverage to get to where you want to go.
It also can be a very powerful tool for allowing you to capture the different marketplace, their specific niche that you want to capture and then keep it. And so the goal here becomes that you can get a better picture of your business in terms of numbers. What does this mean to you.
Well, you will be able to set better goals because you can see them in terms of finance, as well, so part of your marketing plan is seeing how much it's gonna cost you. And how are you measuring those results are they effective is your media effective is your, do you need to change your tactics, and I astrology, you know, are they proven, are they measurable.
Are you getting better results. And if you're not getting better results and the idea is to change to adapt, until you're getting better results. Right. So just because you know the marketing plan doesn't seem to be working, you know the plan doesn't seem now the plan may not work right, but it just means you have to adapt it until it stops working. And that's the one thing that as business owners sometimes tend to forget we tend to think that you know, since it's a plan it's supposed to work. No, it's a plant, designed to guide you.
The actions, and all the processes that we take are the ones that are supposed to work and get us results and if they don't, we can change those and then update the plan. So the plan is job is to give us an overview and then we try to find ways to get a result right plan is a guide that we use to find the solution, which is how do we get ourselves, our business to our customers more efficiently, effectively, but also profitably.
And then the next thing here is you're able to predict things that could happen in the marketplace that could actually affect your business, because you have this word picture you can see what could happen and that means you can either use those coming events as opportunities, or you can avoid them if there are things that could slow or alter your business.
So just to give you a very quick example, if you're in the photography industry and depending on who you are, photography, your opportunities to photography and not are not consistent, day in day out.
Some months, you won't have many opportunities in some months you will have a lot. So for example during Christmas times, you may have a lot of parties business parties, a lot of business may have parties, And so you have a lot of chances to go and take photos for those businesses, whereas other businesses may not have anything during Christmas so depending on who your target market is.
You may find that in some time during the year, you have more business and another. Now, if you didn't have a market plan, you wouldn't be able to consider things like this, Right. And so that can be a very challenging thing. Another thing maybe, you know, if you're a business coach, some months may be much much better maybe, you know, in January when businesses are trying to review their mark their target goals.
They may also decide they need a coach to really improve upskill take the goals to the next level, and then tours as they go towards the end of the year you may find that you know, they're not so much aspiring anymore depending on what the business defines the year to stop so you may find yourself that you need to do something else to balance out for the months that you don't have many clients. Now these are just two examples that I've seen in the marketplace. But equally, I'm sure if you look around to find some or other examples that could really help you understand your business and the climate in which it lives in because your business is exposed, the elements of change.
The next. Last but not least is the cost of acquiring a customer this is called cost of customer acquisition and having a marketing plan can help you see that number there, especially if you look into the financing part of your business. And this essentially just gives you a really really good picture in terms of how much does it cost you to get a customer, because a lot of businesses start without knowing that there is a cost of acquiring a customer. And there is a cost, right, and that cost is either paid by having a very nice strategy that utilises all the free resources that you have, or you have paid by going about doing ads, right.
And what this means is, you need to spend X amount, and to get a customer and usually, depending on the business, it could be anywhere from a few, you know, a few dollars to a few 100 and to even a lot more depending on the price of the products that you're selling, so that initial barrier to entry so if you're selling a car, the cost of acquiring a customer may be much much higher because especially if you're trying to sell them not everybody's just gonna buy off the bat so you want to continue to you know, use the spend more efforts to try and acquire that customer.
And so usually they tend to use salespeople dedicated to that where some businesses. The motor made the process much much much easier. And those are the two things that. And another thing is you'll be able to spend it.
So, having a marketing plan will allow you to create, you know, a better customer acquisition strategy, but also so that you can be able to spend more, and still acquire customers profitably, Right, and that becomes your goal then because you can actually structure this in the way that you're always benefiting so you can spend more without ever losing anything. Right.
And this will mean that you can grow your business, much, much faster than the average, because you have a much better picture and a much better struct, Strategy and Action Plan to really help you propel forward.
With that said, That is us on this episode of the virtual entrepreneur, thank you so much for tuning in, you can find the notes to this podcast episode at Herbet marketing help.com And if you need help with marketing, I'm also down there. Aside from that, thank you for tuning in and I'll talk to you. When our next episode of the virtual entrepreneur. And as always, have a wonderful evening.