Create a Great Marketing Plan with 3 Simple Questions

Any company that exists, whether you are a startup or a global business, needs money to survive. It is no secret. Even the nonprofits need money to survive or they could not do their work, though their money may be from donations.

What is interesting is just how many entrepreneurs in the world put their money into marketing efforts that do not have ROI. It is all about the marketing plan and strategy that is put into place that will determine if your marketing plan yields any ROI. The way you market your business is dependent on your industry and your demographic of consumers. Maybe you will gain sales from print advertisements, radio, TV, social media, search engine optimization, etc.

So what are the three questions you need to ask yourself in order to create a great marketing plan?

• Why should someone buy your product or service over someone else? 

This is a question that can be tough to answer legitimately. We like to think, "Well, because mine is better, duh." Every business owner must be able to answer this question; if you are not able to answer this question, that is not a good sign. If you are not able to say why your product or service is better, than no one in the world will be able to figure that reason out in their head and if they can't do that, they won't buy your product or service over competition. If you are not able to figure this out, then you need to hire a Chicago marketing firm.

Once you can successfully answer this question, you will know what your competitive advantage is and this is what you will deliver to your target market(s) in your marketing. 

• Is there a market segment that will appreciate your differences? Are they a big enough group to support your business? 

You will need to be able to differentiate your product or service and identify your target market. You also have to realize if there is a segment of the market that will be interested in and be able to support you with the sales. You might have a unique product, like body-odor scented candles but will people want that? No. 

• What is the best financial way to reach this target market? 

You have to realize this market and the way they are accessible. Is it via ads? Which kind? Or is it social media? Which platform? Etc. You have to research the way they communicate and how they like the messages to be delivered within that medium. 

Hire a Chicago marketing company that is able to help you get noticed and in the right way to gain ROI. Contact Integraphix.