SECRET Tricks for Your Start-Up Marketing Plan:
Times may be bleak. But it is always comforting to challenge the conventional with some UNIQUE Marketing tricks. But how do you decide if the plan is right for your business? How long will it take for the marketing plan to bring profits? I will answer all those and most other queries today.
At VoiceOFAction, we believe that small, yet significant actions can change the course of the greater future. This projection will prompt me to share the best marketing tips to help you create a brand from scratch.
Imagine your friend is developing a marketing plan for her new business. What should she put in this plan? Last week, I got this question at a seminar. At first, I was slightly pressed by such specifics. But when I read between the lines, I understood it was time to share some SECRET marketing tricks.
Your friend is developing a marketing plan for her new business. What should she put in this plan?
Let’s start the blog with the question that sparked a start. Most of us scroll through listicles of “Marketing Hacks” for starters. All that effort to help your business get the right start!
No! Not worth the effort. Finding suggestions like- “start a blog,” “Sell your brand on YouTube,” or get help from “influencer marketing.” I feel people living the laptop life can comment more but act less.
I will prompt potential ideas and discuss how to implement them from scratch. What’s more, – I will also project average revenues or increases in revenues you can expect from your marketing plan.
Key pointers my entrepreneur friend should consider:
- Does she have the resources needed to launch the marketing plan?
- Is there a vision that fits her marketing objectives/plan?
- Does she fathom how to derive tangible and/or non-tangible values from her marketing plan?
- What are the KPIs in the marketing plan? Are the KPIs measurable and quantifiable?
- What are the critical channels discussed in the marketing plan?
- Is there any timeline defined in the plan?
The WHAT-WHO-HOW-WHERE Prism
What must an entrepreneur do after creating a business plan? Certainly, build the PERFECT MARKETING PLAN.
But you don’t need a B School degree to create a marketing strategy. But what you need instead is a creative streak and loads of passion for the business you started. Once you get that, the remaining work is not that tough!
You need to understand these four things:
- WHAT product should you promote
- WHO are your competitors?
- HOW are the rivals marketing the same or similar product?
- WHERE do you excel in comparison to others?
(** Please make an infographic with these points)
WHAT product do you want to promote?
Pro tip: Choose a product that’ll help you quickly go from 0 to profit in 1 to 2 weeks.
How to grow your small business within 90 days (about 3 months)? The best and fastest way is to develop a KILLER product. For that, you must scan the market and observe what customers want. Imagine my entrepreneur friend wants to build a service-based business.
She can make quick profits through a freelancing service or a consultancy business by default. But why only these? BECAUSE these businesses have 0 overhead costs. And no start-up costs, of course.
The North American consultancy businesses only reap more than $100 billion as fee income. On top of that, there are subscription fees. In fact, the US is a hub of 40% of the global consultancy sector.
The bottom line is choosing an idea that is easily scalable and in demand. Also, look through your idea to ensure you can pull it off at a meager operating cost. Once you do that, you will start seeing profits within 2 weeks from start-up.
WHO are your rivals in the market?
After scanning the competition, you will set your marketing strategy. Those tactics will make your business sustainable in the long run. If you have followed my prism, you always have your first $1000 in your pocket.
Now, it’s time to make the first $100,000. To do that, you must clinically observe what other brands in your sector do. But your job is not to replicate them blindfolded. Instead, make your mark by thinking something Out of The Box.
Don’t worry. I will also advise you on how to do that. REMEMBER, we have set forth to make $100k for your business together. Ok, back to TOPIC now! You need two things to get past your rivals:
- Solving PAIN POINTS
- CHARGE Your customers reasonably
How to SOLVE PAIN?
You know I was given a tricky question- Your friend is developing a marketing plan for her new business. What should she put in this plan? Now, she may change or adopt other points as per her understanding. But these two pointers will be the backbone of her marketing plan.
Fathom what paint points you can solve with your products/services. That will streamline your business start-up. You can try these tricks to identify problems you can solve:
- Are people asking Burning Questions about your product/business after market entry? What are those?
- You can scan Quora, LinkedIn, Facebook, and other sources. First, detect the trending threads. After that, read deeply to understand the problems people are discussing.
- What is one purpose of writing a business plan before entering the market? The answer is giving a direction to your business. Keep doing the same while making your marketing plan. Search online for COMPLAINTS or FRUSTRATIONS among people about your product.
- Try to avoid those areas from the point of detection.
Pro Tip: Go to the reviews section of your sales channels (Amazon, eBay, your website, or your distributors). But don’t amaze yourself with the good comments. Instead, focus on the 2–3-star reviews that people gave. You can understand the real pain points there.
Deciding the RIGHT Price for your Product
How to market a small business easily?
In that same seminar, I was asked this question. Remember that seminar where I got a beamer- Your friend is developing a marketing plan for her new business. What should she put in this plan? That’s the one I’m talking about.
The most straightforward answer is to set your PRICES a cut lower than competitors. But is it that easy? Well, NO.
You need to think of three distinct pricing strategies:
- What will be your staple charge (for your STAR PRODUCTS/ BEST SELLERS)?
- How will you charge for customized/gourmet products?
- What will be your RETAINER Fees?1
Here are some metrics for your understanding. You can earn $20 to $40 per hour with a consultancy start-up. For the best sellers, you can charge $30 to $50.
HOW are the rivals going about?
At this stage, you have started to get the initial cuts from the $100,000 mark that I promised you’d make. But the market is open. Any day, any of your competitors can come up with a striking marketing plan.
So, the best you can do is to keep a tab on what others are brewing. First, note the USPs that all significant competitors are trying to flaunt. Then, check the channels they are using to promote their USP.
After that, you can set or modify your USP(s). On one hand, it makes your marketing plan more persuasive. For now, you may be serving only 10 to 20% of the customers in the market. But when customers spread your WOM, your bank will keep jingling!2
WHERE do you stand?
3 months have passed. By all means, you have cracked the $100k mark. But that can’t be the penultimate goal of your business. Your marketing plan should have another section- “The long-term USPs.”
The USP should not only be concerned with the product. Instead, you must consider what other channels you can use to make your products popular. The content marketing strategy is the first thing that comes to my mind.
You can create blogs, social media posts, review columns, and videos to promote. But don’t forget to attach buy-links to your products.
Don’t worry about the cost. A good content marketing strategy needs a gross budget of $500/ month. You can hire freelancers to create the content/videos. It may cost you $200 to $300. You need another editor to trim and post your content. For that part, the monthly expenses would be $250 (approx.).
Frequently Asked Questions (FAQs)!!!
Your friend is developing a marketing plan for her new business. What should she put in this plan? If I ask this question now, you can give a convincing answer. But there are still some pestering questions that readers ask. Let’s answer those.
How do you write a marketing plan for a business plan?
Start by setting your MISSION and VISION. Then, include the tactics to sell your products faster and retain customers from the ideas in this blog. One thing I couldn’t do for you is create a customer profile because that varies from one business to another. Finally, find the best promotional technique that suits you and your customers.
What do you need to do when developing a marketing plan?
1. A market analysis report; 2. Your business goals and your marketing objectives; 3. Your marketing strategies outlined; 4. Budget………………
What are the key steps of developing a business marketing plan?
There are 6 significant steps. The first is crafting your marketing goals and then scanning the market. The third and fourth goals are creating customer profiles and setting your marketing budget. The fifth and final goals are setting customer retention plans and frequently checking if your marketing plan still works.
Let’s make some MONEY!!
There you have it. The critical marketing SECRETS that can help you MAKE MONEY right away. It would help if you had neither a ton of investment to implement this plan nor any substantial upfront costs.
Maybe it will take you some more months. And loads of effort. But who has ever succeeded in start-up warfare without a bit of elbow-greasing?
Now, it’s time for you to take the lead. But you’re not alone. Let me know about your QUERIES and confusions in the comment box below. I’m here to help!!
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