Thursday, November 19, 2009

Marketing Plans

As most people that know me very well are aware, I am a big believer in developing a solid marketing plan for your business. Most business people either don't understand this or they just don't have time. It's tough to make the time. But having a good solid marketing plan for your business is essential to growth and stability.

With the economy in flux, it is even more critical to think through your marketing strategies and develop tactics that not only fit your company, but also your budget. Don't skip thinking through exactly what amount your business can afford to invest in marketing. The national average is 10% of gross. Start-ups should spend more than that.

If you aren't sure what to include in your marketing plan have a professional do it for you. Don't forget to research your industry, the competition and the types of vehicles available to you. Research your clientele. It doesn't have to be a full blown market research project to get valuable information. Pick up the phone and call your clients. You would be amazed on what they will tell you. Ask them to rate your service, what types of publications they read, what online reading they do, what radio they listen to and more.

Update your marketing plan on a regular basis. You will be surprised at how much your business and its needs will change in a year. Put your marketing plan down on paper so you don't forget it. Be flexible, but be committed. Marketing will probably be the difference on which companies make it through the more difficult economy.

Cindy Neky
Marketing Pathways
For more information visit http://www.marketingpathways.com/ or Email Cindy

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