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25 Sep 2023

A marketing plan helps you reach the right target group with the right message

Marketing is one of the most important investments a company can make, because it helps you reach the right people, get more customers and, as a result, increase your sales and profits.

However, marketing is easy to forget while dealing with hectic everyday life. That's why a marketing plan is one of the most important tools an entrepreneur and a company can have.

In addition to the fact that a marketing plan helps you deliver your message correctly to the right target groups, it also helps you integrate marketing into the company's basic operations. Well planned is half done – even when it comes to marketing.

A marketing plan can be divided into seven areas:

1. the segmentation and profiling of customer groups
 2. making your services and products attractive and easy to buy
 3. formulating a value proposition to your customers
 4. analysing the competition and distinguishing your business from them
 5. the company story
 6. finding the right marketing channels
 7. an action plan that will help you reach the finish line of your marketing project

1. Segmentation

Segmentation is the division of a company's customer base into different groups, so that marketing can be tailored to suit each group.

Note that even if you are in the B2B sector, you will still have several different customer segments. Even companies and public organizations have many different types of needs.

Segmentation can also help you identify your most important customer groups, so you can direct your marketing efforts at them. A suitable number of customer segments is 3–6.

Segments, aka target groups, consist of individuals. Identifying a target group does not yet mean that you understand the preferences, behaviour and purchasing power of individual customers. Yet profiling every customer would be too much work, and that's why customer profiling is used to outline different types of customers.

Segmentation and customer profiling allow you to address your customers in the right way, appeal to their needs as well as find the right channels to reach the customers.

2. Productisation

When it comes to marketing, knowing your customers is key. It allows you to target your messages correctly and approach your customers in the right way, but it also helps you to develop and productise your services in a way that is attractive to your customers. Even the best advertisement or sales pitch will not help if your products and services do not provide value to the customers.

The more precisely you can define what and for whom you are providing, the better you can profile your products and services to match the right customers.

3. Value proposition

When customers buy your products or use your services, they definitely have expectations related to these products and services. If a customer pays for a tire change service for his car, he certainly also expects the tires to be washed and the air pressure checked. Maybe he also expects the service to be performed quickly, while waiting, and he might want to book the appointment online.

The value proposition is a company's promise to the customer about the value that the product or service will provide to the customer. But the value proposition is more than just a promise to the customer, it also steers the company's internal operations in the right direction.

There can be several value propositions, and they can be product- and service-specific. If you sell tire change services and new and used tires, each category will have its own value proposition.

4. Competitors

Standing out in the market and differentiating yourself from the other players forms the core of a successful business. By identifying the distinguishing factors, you can also profile your own products and services, and thus increase your customer base.

Think about your own competitors, for example, from the point of view of these five competitive forces:

  • existing competitors
  • the threat of substitute products
  • the threat of new entrants into the market
  • the power of suppliers
  • the power of customers

5. The story

Every company, and maybe even every product, has a story. It tells your customers why your business exists and why they should buy from you. A good story answers these questions and brings your services and products closer to the customer. When the service has a face, it feels safer for the customer to proceed with their path to purchase.

The customers' expectations have changed in recent years, and purchasing decisions are increasingly made based on criteria such as responsibility, values and reliability. These aspects may often be self-evident to you, but they may not be as clear to your client. That's why it is worth bringing them up in the story.

6. Channels

Marketing can be done in countless places, media and channels. But which ones are the right channels for your company? Naturally, the choice of channels starts with knowing your customers. You should market and be present in the channels where your customers spend time.

The variety of channels also means that choosing a single-channel marketing tactic is rarely possible. Marketing is more effective when the customer comes across your message in as many channels as possible. It is the repetition that results in effectiveness. In addition, the choice of channels is influenced by the methods that best suit your story and message. Would a video work best, should the customer hear something, or could an image result in a purchase decision?

7. Action plan

Creating an action plan, i.e. scheduling your marketing activities in a calendar, is perhaps the most important task. A thorough action plan will help you implement your marketing plan and stay on schedule and on budget.

  • set a budget for marketing
  • choose the most important channels and divide the budget between the different channels
  • think about what marketing services you want or can afford to buy from an advertising agency
  • if the budget is small, marketing should be carried out in the form of effective campaigns
  • think about the different sales seasons and how you can prepare for them
  • mark every social media update, newsletter and marketing campaign on your calendar and appoint someone in the company to carry them out – this way, the marketing will actually get done!

If you need help or advice in creating a marketing plan, your own Keuke business developer is ready to support you. Book an appointment for a free consultation!

 
 
 

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