Think of the last school, college, university or club event that you organized; what kind of ways did your team follow to bring it to the public? Probably you’ll put up printed posters around target locations, had cut outs, printed some leaflets about it, hold a flash mob on the streets and finally create social media public event pages. Think of the reason why you did so and you’d realize that without promoting a public event, you wouldn’t be able to get an audience for it.
This is the same when it comes to the business context as well for they also would use marketing strategies like advertising by obtaining services of online websites, e-newspapers or canvas printing services, sales promotions and maintain good public relations to attract and retain their audience which the customer base. Although, this is an important function of a business, small to medium scale businesses that are still on the edge struggling to stand on their feet would consider this to be a cost that they should move into later on but that is the worst case of all.
Every business, irrespective of the scale of operation should have a proper marketing plan in order to reap good outcomes out of it because marketing is not the just art of buying and selling but it is the process that links up from the start of the product to its pricing, where it is sold and to the strategies used to sell it off. Here are the steps to drawing up a marketing plan put into the simplest format.
1) Plan Well
This is the stage where you should write up a marketing plan for your business. At this point, you will need to think of the product, how are you planning to set prices for it, market penetration, skimming likewise and the locations where you decide to make it available, the vendors to whom you choose to distribute it and what kind of strategies you take to promote the product or service.
2) Know Well
Knowing well leads you understanding your client well. It is for your customer that the product or service will be catered and you should be aware of their tastes, preferences and the demographics related to the area you wish to operate in.
3) Decide Well
This step is in deciding well for your finances. How much money you wish to put in for the things planned. For instance, you could decide for the funds allocated for advertising, canvas printing services in Singapore, sales promotions and public relation campaigns.
4) Back up Well
This is the last step but also one of the most important steps which supports the business to survive and grow. Back up well refers to the business involving in strategic planning of all the “what if’s” and come up with contingent plans to face such challenges. Not preparing your business for challenges seem more like preparing your business for failure.
In conclusion what small to medium scale or any business in general should know is promotion plays a key role in building the customer base for any business and they should expect the unexpected to maintain that attracted set of customers. Thus; every business must promote for more!