Fierce competition in the business world, rising competitive edge, and oscillating customer choices compel entrepreneurs to do everything they can to achieve success. Without the right marketing plan to fuel your growth, churning a profit and scaling a business without a surge in costs is challenging for every company. If your long-term goals include swift expansion, it is a requisite to have a marketing plan with the flexibility to scale along with your business.
An efficient marketing plan aligned with your brand’s aesthetics is imperative to retain your current clients and manage your growing customer base. As a good marketer, you need to assess your target market, the customers, their demographics, research on psychographic details and purchase patterns. A flawless PowerPoint presentation is optimal to build a comprehensive outline of all this vital data. Leverage Market Segmentation PPT template from SlideModel to craft a stunning slide deck which effectively responds to user’s needs.
Here is your comprehensive guide to sketch out a winning marketing plan to scale your business for maximum profitability:
Build a SMART Marketing Plan
For short-term and long-term business scaling, your marketing plan requires not only to be good but structured on a SMART framework. Your goals ought to be Specific, Measurable, Achievable, Relevant and Timely concerning your branding objectives. To keep your business lucrative, you need to set targets which are feasible rather than lofty and grandeur. A documented and goal-oriented marketing strategy is crucial to determine the Who (customers), What (content), When (frequency) and Where (channels) of the business.
Track Your Business Metrics
Implement analytical software to examine your ads performance or engagement of your followers with your social media content. Forefront actionable metrics which reinforce you to make real decisions, instead of trying to collect every piece of data and then having to sort through valuable information. Track the source of your leads and which forms of marketing strategy provides the best return on investment (ROI). Look for metrics such as Marketing Qualified leads (MQL), Funnel Conversion Rates, Marketing spend per customer and Lifetime Value of a Customer (LTV).
Conduct a SWOT Dissection
As the architect of your business, an exhaustive SWOT analysis is your key to keep the business running seamlessly. While drafting a marketing plan, ensure to assess the strengths, weaknesses, opportunities and threats of your business. Outline your current business propositions and have a general audit of your business structure. SWOT analysis aids you to employ the right resources at the right time.
To develop a strong PR network is potential to business scalability in the long run. Engage with your customers, acquire feedback, and integrate chatbots on your websites for better communication. Gather positive responses on platforms like Trustpilot, Reviews.io and Birdeye. Provide discounts, host sales, send promotional messages and anchor targeted local advertising. Project your brand’s journey through videos and professionally tailored presentations with dedicated templates for the consumers to remain loyal to your brand. Remember that happy customers become brand advocates.
Invest in Technology
Gain massive business scalability with less labour with an investment of your time and money in the right technology. Enhance user data and team collaboration (sales and marketing team) with a Customer Relationship Management system (CRM). Employ Inventory Management Software to track inventory levels, orders and sales. Adopt technological tools and applications to promote direct marketing, advertising, public selling, word of mouth, and sales promotion.
Every business wants to expand its horizons by exploring new markets and boost sales. Scale your business points to the fact that you are aiming for higher sales and revenue. But, to set a firm footing in the market, you need to analyze your competitors and how they work. For a successful marketing plan, list down the achievements and failures of your brand’s competitors, your USPs and ways to improve customer loyalty. Ascertain the type of competitor you’re facing like Direct or Indirect Competitors, Tertiary and Potential Competitors to be unique in the market.
Lead Magnet- Digital Marketing
All marketers know that digital marketing is the new way of scaling their business, attract leads and convert them to sales. With most of the generation spending their time on the internet today, digital marketing is the source to optimize your sales with inbound marketing to attract new clients. Invest in Search Engine Optimization (SEO) tools, send Email newsletters and leverage paid and organic social media content to resonate your brand with your audience. Hire social media micro-influencers to promote your business to the mainstream market.
Paid Promotions and Google Services
One of the most powerful methods you can use to market just about anything these days are social media ads. Facebook/Instagram/YouTube advertising is a beneficial tool to reach customers. Build trust and brand equity to repeat sales by investing in brand awareness ads. Use Google Display ads to form touchpoints for your consumers at every stage of the funnel. Leverage Google Search Ads to reach a quality client base that is ready to purchase. Ranking your Google My Business (GMB) listing is one of the best endeavours you can do for your business.
When you construct your marketing operations, your business scales up, displays agility and stays lean. Watch out for indicators to scale your business in search of new customer attainments, new revenue sources, and better brand recognition. Be wary of opting for the marketing strategy to advocate an effective sales funnel and optimize your conversions. Using a combination of these nine marketing strategies will transform your business into a lasting brand. Prepare your marketing team with efficient processes, integrate technology, and invest in the right digital and content marketing tools.