Have you ever known a builder to build a house without a set of plans or blueprints? Do firefighters try to control a wildfire without having a plan of attack? Does Ford (or any car company) release a new model without an extensive planning process?
In each case, the emphatic answer is NO. So why would you try to launch or expand your operation without having a business and marketing plan? Duffy Marketing can help you sell your product and generate profit. Let’s talk about some of the key strategies and marketing services to make that goal a reality.
Define your unique value
To be a success, your business must fill a need in the community. You must define what unique value you are offering. Some call it the “secret sauce” that sets you apart. It can be a combination of things including customer service, technology, or unique products and services.
Set a pricing strategy
This starts by knowing the marketplace. Any good business plan includes finding out what your competition is charging. This can serve as a baseline for what customers are willing to spend, but the key to good marketing is adding value and benefits to make your product or service attractive. Duffy Marketing believes providing added value is more important than price. Being cheaper isn’t always better. Remember, competitors can and will slash prices to meet or beat yours. That’s why it’s dangerous to compete only on a cost basis.
Sales & distribution
Any business plan has to include how you are going to get your product and services to the customer. This includes the type of sales team you’ll need and how they are going to pay (commission, salary, or both). In terms of distribution, you should use every method that makes sense whether it’s online, at a retail location, community events, or during site visits.
Marketing plan
You need customers, and marketing is how you attract them. This should include a multi-pronged approach with multiple strategies including:
- Traditional media like newspapers, TV, & radio
- Online ads
- Direct mail
- Referrals
- Word-of-mouth
Very few business owners have the experience and knowledge necessary to create a successful marketing plan on their own. This is why companies like Duffy Marketing are so vital in creating a consistent branding campaign so potential customers turn to you when the need arises. Creating a brand is what will set you apart from the competitors.
Budgeting
Since you’ve already established the price you will charge for products and services, now your marketing plan needs to help determine how you’re going to allocate the money you are earning. The first step is calculating your costs. How much can you afford to spend while still providing for a reasonable profit. How much can you afford to put back into the business to attract even more customers AND how much will it cost to attract each one of them? Again, a company specializing in marketing services can help provide the answers based on their experience.
Don’t hesitate to ask for help
Putting together a business plan can be intimidating, but it is vital to your company’s success. Duffy Marketing is a firm believer in that old saying, “Failing to plan is planning to fail.” Call today to learn how our marketing services can help get a new business off the ground or help an existing business dominate the marketplace.
