10 Quick Steps To A Home Business Marketing Plan

by BB Lee (c)2003

Did your know that without a solid marketing strategy your home based or small business will struggle to find success. You will need a marketing plan or strategy to introduce your business to the consumer market. To create a buzz about your business and keep it in consumer minds. Buzz and familiarity will create demand for your goods.

And if this is successful...consumers will line up to purchase yourgoods or service, leading to P-R-O-F-I-T-S.

Simple enough?

You would be astonished at the number of business owners who start a new business without a solid marketing plan in hand.

What follows are 10 tips to draft your own marketing plan quickly and easily. Adapt them to fit your business goals.

1. Research
You must know who are your best customers for your business, what are their purchasing habits, their income level, education level, are they male, female, young, older, city dwellers, suburbanites, and who are your direct competitors.

2. Target
Think of a unique angle or a niche to fill with your service. For example, there are hundreds of day care services in most communities. Here's an example, zero in on low income single moms with special needs children. Offering care they could not get for the same price. Or you might decide to open your day care center earlier and close later in the day than similar centers for parents who work long hours.

3. Details
Write a detailed report of what you are offering. This will help guide you when you write classified ads or business sales letters.

4. The Competition
Find out who is marketing a similar service in your community. How much they charge and their unique selling point. Determine ways toout finesse them.

5. Mission Statement
Write a mission statement telling who you are and what you are about. Explain what you are selling and add your unique selling point.

6. Marketing Idea
How will you create demand for your product? By offering extra's, quality, performance, price.

7. Price
How much will you charge. Will you charge less than the competition to attract new customers. Charge a similar price, but offer extra's. Or you could charge slightly more and provide better quality. Use this as a unique selling point.

8. Budgets
How much money will you invest in marketing your product: daily weekly monthly

9. Goals
What income are you forecasting per week, month, year? How many sales per week, month, year? How many customers served per week, month, year?

10. Success
What methods will you use to measure a successful marketing plan? Reaching a predetermined income. Selling more than the competition. Satisfied Customers.

At the end of a year review all your marketing statistics. Did you reach your goals? If you did not reach your goal, revise your marketing plan until you find a winning strategy.

Need More Info?

Visit your local library for books on marketing plans or read the many free marketing ebooks found online. Read every thing you can on advertising or marketing. Set up your own research files on marketing strategies. Keep striving to improve.

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BB Lee is Editor/Publisher Of SmallBizBits Home Based Business Newsletter. Subscribe Now For Unique Startup Ideas, Great Home Business Articles, Tips, Advice. Visit:http://www.angelfire.com/zine/smallbiz mailto:smallbiz@angelfire.com

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About the Author

BB is editor and publisher of SmallBizBits home business newsletter and a published freelance writer.