This means reaching a wider public by publicising the business and information about its products or services. It takes time and energy to develop new products or ideas and find markets for them. But without a marketing plan you are going off in all directions, losing the chance to identify your most profitable areas of business. Your marketing plan will bring all your promotional activity together and provide a business framework for your PR goals.
It has been said that you need to spend as much as half of your time on marketing to reach your full potential share of customers. You need to market just to stand still. It’s estimated that businesses lose 10% of their business on average each year through no fault of their own. Buyers move on, clients collapse, customers needs change, etc.
Most people think marketing is advertising or market research or a fancy word for selling. All of these answers are partly right. The purpose of marketing is to detail how you are going to turn products and services into cash. Marketing is the art of getting the right products or services to the right people at the right price. Sounds easy enough, but how do you find out whether you have the right product or service that is right for people to buy? What is the right price? How do you make sure it finds its way to the right people?
That’s where you need a marketing plan.
Coast Creative can tailor a marketing plan specifically for your business giving you more time to do what you do best – run your business.