Marketing Plan for New Small Businesses

Creating Marketing Plan for New Small Businesses
Starting a new small business for some entrepreneurs means adventure while for others can be a scary and risky journey. There are usually a number of things to determine for your new business and one of them is creating a good marketing plan.

The practice of creating a marketing plan will certainly help you think in many different alternatives, angles and initiatives. Skipping the marketing planning part usually means not having a go-to-market strategy or simply changing your strategy daily. This is what drives many entrepreneurs out of business. Because you are managing with very limited resources you should be really careful how you invest your time and money and in order to do it the smart way you need a clear marketing plan.
Without big marketing budget to spend, public relationships are your own greatest marketing asset. Develop an ideal description of who you are, what you offer, how you help others and create your sales pitch so you clearly communicate to your target market.
Company identity or brand identity can be done at a very low cost these days – like website, logo and other company identity collateral, social media accounts, etc. Try to keep a consistent message across all the marketing platforms you use.
Another crucial piece of promotion that you should include in your marketing plan is referral program. Local businesses who are smart work together and they all benefit from each other. For example make a list of local companies that offer products and services to the same target market and start from there. This will help you grow fast and in an inexpensive way compared to traditional marketing channels.
Ask for referrals! Many small business owners are doing a great job by simply asking for a referral. Simple question like “Do you know anyone else who could benefit from our service?” goes along way. Unfortunately most business owners simply don’t think this way and they miss many potential opportunities.