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Section 10: Marketing Plan In addition to your strategic plan, I recommend you develop a comprehensive marketing plan describing how you will attract prospects, convert them to paying customers and maximize your lifetime customer value.
A strategic plan is a roadmap to grow your business.
To help you succeed, use this proven strategic plan template, and the information below details the 13 key sections you must include in your strategic plan.
Section 11: Team The team section of your strategic plan ensures you have the human resources to execute on the opportunities you’ve identified and to achieve the goals you established in section 5 of your plan.
Here you should list your current team members and identify the types of people you need to hire in the next year to achieve your goals.
Section 7: Target Customers In this section of your strategic plan, you will identify the wants and needs of each of your target customer groups.
This is important in focusing your marketing efforts and getting a higher return on investment on your advertising expenditures.This is because the more you can “speak” directly to your target customer wants and needs in your marketing, the better you will attract them.Section 8: Industry Analysis Your industry analysis doesn’t have to be a comprehensive report on what’s going on in your market.Finally, you’ll map out each of your initiatives, ideally in a Gantt chart, so you know when each project will start and who will lead them.Section 13: Financial Projections The final section of your strategic plan is your financial projections. First, you can use a financial model to assess the potential results for each opportunity you consider pursuing.Also, once you determine the opportunities you will pursue, your financial projections will map out the goals.For example, you’ll know exactly how many new customers you must attract in the next month, and at what price point, to achieve next month’s goal.They key is to first identify your 5 year or long-term goals.Next, identify your one-year goals; that is, what you must achieve in the next year for it to be successful and to put your company on the right trajectory to achieving your 5 year goals.Rather, in addition to defining who your key competitors are, you should list their strengths & weaknesses.Most importantly, use this analysis to determine your current competitive advantages and ways to develop additional advantages.