Posts Tagged marketing plan
Do you show an understanding of the marketing landscape?
An integral part of the business and marketing plan is to provide a fundamental understanding of the market space. When getting the attention of the investor it is paramount that the entrepreneurs demonstrate that understanding in a concise manner. As an entrepreneur what might you need to show?
- How big is the market?
- Is it a new or mature market? Is it growing, staying steady, or shrinking?
- Who are the major players? This includes the producers and the buyers.
- What products are in the market?
- How is the market segmented?
- What are the outside influencers?
- What barriers exist in the market for new products?
There are many other aspects (which I will address in a later post) in a marketing plan’s overview of the market condition; but these are the fundamentals when first introducing you to potential investors. Later, there is time to do a deep dive but the initial impressions should be that you did your homework and you are someone that is the right person to tackle this market.
Talk about the marketing in the Executive Summary
In this series of installments I am discussing the executive summary and how to make it stand out. The executive summary should present the compelling reason for the investor to buy into the company.
Yesterday, I wrote that when you ask for money, you should state how it will be used. I discussed how the products and services will be made and sold. Marketing makes that initial connection with the buyer and builds that relationship. Often, the money is used towards marketing; however, simply stating that may not be enough.
On the other hand, going into depth with a marketing plan is going to be too much for an executive summary. Remember, the point of the executive summary is to demonstrate that this company and management team will be successful. Therefore, what about the marketing of this product will make it successful enough to entice an investor to want to buy in?
Approach the question by addressing five basic aspects of the marketing plan:
- How will this be promoted? (Remember, who is the audience for the product/service?)
- How will this be sold? (Could be a very different channel than the promotion!)
- Is there a specific price or range of prices, not already discussed that will be a major factor?
- Are you in a contractual relationship with a key player that will help you market (that is different from yesterday’s answer)?
- Are you in negotiations with a key player that will help you market (that is different from yesterday’s answer)?
From these five questions, you can come up with the key elements that will distinguish this marketing, and make it successful. The critical element is that marketing must be addressed, whether or not the funds from the investors will be used for it.
The starting point for actively marketing yourself online
Posted by Steve in For Job Seekers, Plan, Strategy on April 27, 2009
Actively marketing yourself and your company is the best way to get noticed. The question is how? Before we even touch on how, you have to ask yourself a few questions:
What are you trying to achieve? Are you seeking a job, seeking to gain skills and contacts to garner a promotion, starting your company, doing consulting while you look for a job, or trying to find companies for investing?
- What are your skills? Can you write, answer questions, create web sites, program, create web art, create interactive media, or use search engines and social sites effectively? Can you do SEO?
- How much time do you have? Can you spend an hour a day, eight hours a day, or only a few hours a week? It is easy to take on a big task and then after a couple of weeks you lose time and interest.
- What is your deadline? Are you unemployed an need to be earning money quickly, or do you have time to work on it at as a supplement to your existing job?
Answer these four questions and then come up with a goal statement, a mission statement, and a set of priorities. This is the beginning of your online marketing plan.
As we discuss the different ways to do online marketing see which ones fit your plan parameters. Do only those that fit your goals and mission statement, and hit your priorities. The others can be used at a later time.