Do independent retailers need a marketing plan?
By Bob Phibbs - Oct 10th 2017, 17:06
Many independent retailers have never considered a marketing plan unless they had to file for an SBA loan.
If you don’t have a marketing plan, you really haven’t focused your attention on who your customer is or how you’ll reach them. One of the greatest benefits of doing so is that, once it's developed, all of your planning becomes easier.
The good news is that creating a plan for your small business doesn’t have to be difficult or expensive. But “build it and they will come just” doesn’t work in 2017.
Five questions to ask in forming a plan:
Who am I?: What makes your small business better? What makes you unique? How is what you do different than your competitors? Better yet, why do you do what you do?
Who are my customers? You can’t market to everyone effectively. That’s like shooting a shotgun into the air and hoping you hit something. Yes, you will have many types of customers, but stay focused on just three different ones, or “personas.” The smaller and more focused your audience, the less you will spend to reach them.
What are my goals? This is part of knowing whether your campaign is successful or not, so choose your goals to be black and white results, not a feeling.
How much can I afford to spend to achieve these goals? Your budget will keep your marketing expenses from spiraling out of control or running out of money when you really need to be visible, like during the holidays. You don’t want to spend $1000 to get $500 in sales, so be realistic.
How exactly are you going to reach your target market to meet your goals? The simplest way is to work backwards from your goals to develop strategies (what’s your logic) and tactics (how you’re going to do it). Then plug them into a calendar.
And just for the record, word-of-mouth is not a marketing plan. It’s the bonus, the pink frosting on the vanilla cupcake.RetailWire
Zara to introduce augmented reality displays to its stores
16/03/2018 - 09:50
Zara is set to introduce augmented reality displays from April as part of efforts to lure millennials into its stores and increase footfall.
AI set to revolutionise consumer and retail sectors
15/03/2018 - 10:16
Almost a third (32%) of consumers surveyed globally by PwC plan to buy an AI device including robots or automated assistants, with retailers watching closely as ‘voice commerce’ develops in the home.
Understanding RCS and why it matters to marketers
13/03/2018 - 10:54
Text messaging is a staple in communication that allows marketers to connect to virtually every consumer’s phone.
3 ways companies can reinvent themselves in the Digital Renaissance
08/03/2018 - 14:55
The Renaissance was a period of renewal and passion, with the invention of the Gutenberg printing press allowing citizens to communicate quickly to a wide audience. Today, technology is driving fast, sweeping changes across the globe, altering the way business is done while taking unprecedented leaps forward at a breakneck pace.
Listeriosis outbreak puts fragile value chain in spotlight - expert weighs in
07/03/2018 - 16:12
The ripple effect of the outbreak of listeriosis in certain processed meat products in South Africa has identified the fragility of the industry's value chain, Professor Andre Louw, chair of Agribusiness Management at the University of Pretoria said.