A Marketing Plan…… we all know we need one, but most of us don’t know where to start. Last week Women’s Council of Entrepreneurs shared on our Social Media pages about the elements of a Marketing Plan. We thought that was a great place to start. But, here at WCE we never just stick to the basics ~ we are always finding ways to really help you streamline your business and get all of your ducks in a row. So, we created WCE’s Marketing & Sales Plan Worksheet Packet!
Not only have we created this 9-page Marketing & Sales Plan Packet that will guide you through the key elements of marketing and help break down your products and services so that you can easily set up a marketing and sales plan. This includes ~ a Marketing Summary, figuring out your Target Market, creating your Competitor Analysis, Creating a Product Sales Plan, Creating a Service Sales Plan, Creating your Marketing Goals and Action Plan, Creating your Sales Goals and Action Plan, Possible Marketing Channels for your Business, and a Marketing Budget Chart. But, for a limited time, we made 3 of the pages absolutely FREE for Download!! You will get the Marketing Plan Summary, the Target Market Worksheet, and Creating your Marketing Goals and Action Plan Worksheets FOR FREE.
You can download the free marketing worksheets from the packets by clicking the button or the image below!
We do think it’s important to go over the Elements of a Marketing Plan and really dissect some of the worksheets we have included in this packet. The first step of a Marketing plan is…
1. Know your Target Market
What does this mean? It means knowing your audience! In your marketing plan describe your target audience. Be aware of your target market’s size, demographics, and any trends that will affect the demand of your business. On our Target Market worksheet, we have you dive deep into your target market. What is the age range, gender, employment status, educational background, where do they live? Not sure who would be your target market? One way to figure it out is to look to your competitors. Study who their customers are or see who follows them on social media. Start to break down who your products or services appeal to.
Within our Target Market Worksheet, we also have you figure out your target market size which is your Total Available Market. If your target market is women ages 35-65 that live in an urban community, own a home, and are college or trade school educated you will have to research how many women with those demographics are in your target area.
Here is an article by The Pipeline on ways to find your Total Available Market
Once you have your Target Market Size or your TAM you then need to document the number of customers you currently have. With your target market size and your current customer numbers, you will be able to calculate your penetration rate so that you know how many of your potential markets you are actually reaching! This is important to know so that when you are creating your marketing and sales goals you know the potential growth of your customer reach, as well as, your business.
The second element of a Marketing Plan…
2. Competitive Advantage
What is your Competitive Advantage? What sets you apart? Think of your competitors and start to think about what makes things you stand out from them and use these things to promote yourself. In our Competitive Analysis worksheet, we help break this idea down and see where you and the competition stand.
3. Create your Sales Plan
Write down how you are going to sell your product or service. Will it be through retail, online, or wholesaling your products? Know how many steps it will take your customer to purchase from you. In WCE’s Marketing & Sales Plan Packet, we include 2 worksheets for the sales plan ~ one for products and one for services. We have you think through your products and services and really dissect what goes into them and how to market them properly. You need to look at your business from the outside-in so you can properly explain what you do and what you offer to someone that has never heard of you.
The fourth element of a Marketing Plan…
4. Describe your Marketing and Sales Goals
Create the marketing and sales goals for this year. Do you want to double your clientele? Do you want to triple your revenue? Do you want more email subscribers? Do you want to join a networking group? These are goals. Remember to think big, but also be realistic!!
5. Create a Marketing Action Plan
Make the action plan to hit those goals you just made. A goal without a plan is just a dream! List marketing channels you can use (online advertising, networking, etc). Plan out promotions and pricing that you will implement throughout the year.
With WCE’s Marketing & Sales Plan Packet we in a way combined elements 4 and 5! We created a Marketing Goal & Action Plan Worksheet that will help you narrow down your marketing goals and categorize them into different Marketing Channels and then into the Action Steps to execute your goal. The best part?! This is one of the FREE worksheets you can download above! Yay!
Not sure what Marketing Channels you could use?! Here are a few to start some brainstorming:
Local marketing ~ Get involved in your community! Sponsor local youth sports teams, support a charity or event, get a speaking engagement, or even join a local networking group.
Influencer marketing ~ Find an influencer of your target market to promote your business. Influencer Marketing is usually done with an article or post written about your business or product or even a product review.
Email marketing ~ Use your email list to market your upcoming promotions. You can also partner with other businesses or influencers to be featured in their newsletters!
Display Ads ~ Buying ads or banners on websites that have a high traffic volume of your target market.
These are just a few, we give even more ideas in our full version of the Marketing & Sales Plan Packet.
Also, in our Full version Marketing & Sales Plan Packet is the Sales Goals and Action Plan Worksheet. This worksheet is similar to the Marketing Goals and Action Plan Worksheet, but it helps you draw up a plan for all your SALES goals for the year.
Now, the last element of a Marketing Plan is…
6. Know Your Budget!
This one is important because if you mismanage your money you could find yourself out of business quickly! Calculate how much your marketing plan will cost. Research the cost of your ideas and know if they are possible. If you are over budget ~ reconfigure your goals as needed.
In our Full version Marketing & Sales Plan Packet, you will get a Marketing Budget Chart to fill out so you stay financially on track!!
We really hope the free worksheets help you kickstart your Marketing Plan. If you are interested in the full version Marketing & Sales Plan Packet you can purchase it by clicking the button or the image below.
For Basic, Bronze, and Gold WCE Members the Full version Marketing & Sales Plan Packet is only $5! For non-members, it is $15.
Platinum Members it is FREE!! Platinum members, to download the Packet make sure you are logged in and go here:
As a WCE Platinum Member, you can get this, other full downloads, and ALL of our workshops for free! You can find out more about WCE Platinum membership benefits here:
Remember that WCE is always here for you ~ for more tips and free downloads please browse through our other Small Business Resources.
And you won’t want to miss any of our upcoming virtual workshops or our in-person events! You can find those under our Upcoming Events tab or you can click below!
If you have any questions or concerns please don’t hesitate to reach out to us at firstname.lastname@example.org!