Developing a powerful business plan focused on marketing
7 steps to growth and success
12.07.2023
As a busy professional or CEO, you know how valuable time can be. Who wants to spend hours creating a powerful business plan? Predicting future trends, market conditions, and competition is challenging. Anticipating changes and forming a realistic view of your company's future performance? A massive task. But don't worry, we understand the challenge like no other.
Step 1
Set goals
Dive deep into your business
Create a strong foundation for your business by delving into your mission, vision, and core values. Think about your brand strategy, the promise you make, and the story you tell. Leverage your strengths, address your weaknesses, and turn threats into opportunities.
Blue Ocean or Red Ocean? Dare to take on the challenge and choose the Blue Ocean Strategy! Reach new, untapped markets for organizational growth and success, instead of fighting in a blood-red ocean of competition.
It's time to execute your strategy with purpose. Use the SMART method to formulate your goals. Whether you aim to gain market share, reach a new target audience, or increase profits. Having clear, measurable goals on paper gives your strategy direction and a purpose to strive for.
Step 2
Analyse the market
Understand your target audience like no other
Knowing your target audience inside and out is essential. Conduct thorough market research to gain a deeper understanding of your target audience. Analyze market size, competition, trends, and consumer behavior. Know your customers better than they know themselves.
Utilize existing market reports, industry data, competitive analysis, and consumer research to gain valuable insights. Go beyond the surface and create detailed buyer personas and customer journeys. Understand the path your customer takes. Use empathy mapping and consider what your customer says, thinks, feels, and does. From discovering your product or service to making a purchase and improving customer engagement.
Step 3
Revenue goals and strategies
As a CEO, you have big ambitions. Whether you strive for business success, value creation in the supply chain, or building future perspectives: having ambitious revenue goals is crucial. Determine what you want to achieve and when, and how you will do it. Set each goal using the SMART method: Specific, Measurable, Acceptable, Realistic, and Time-bound.
Regularly measuring your progress is essential. By using measurable KPIs, you can track your progress and see which strategies are successful and which need adjustment. Dare to learn from your results and be flexible. Experiment, adapt, and strive for the growth you desire.
Step 4
Product and pricing strategy
Highlight your products or services clearly and differentiate yourself from the competition. Analyze your offerings and determine how you can differentiate to gain a competitive advantage. Choose pricing strategies that align with your market segment and value proposition. Each strategy has its advantages and disadvantages, so choose the one that best fits your situation.
Identify what sets you apart, whether it's quality, innovation, service, or brand reputation. These factors can influence your price positioning. Consider strategies such as:
- Cost-based pricing
- Competition-based pricing
- Value-based pricing
- Differential pricing
Step 5
Promotion and distribution strategy
Set clear, measurable marketing goals that align with your overall business objectives. Choose the right marketing channels to reach your target audience and select distribution channels that best fit your business model and target market. This increases both the mental and physical availability of your brand.
Step 6
Budget and resources
Determine what you need to execute your marketing activities. Allocation of resources to different marketing tactics, such as advertising costs, personnel expenses, and technological investments, is crucial. Ensure your budget is realistic and flexible. Marketing technology such as automation tools, CRM systems, and data analysis tools are essential in this regard.
AI is also a true game-changer, enabling you to offer personalized recommendations to customers and enhance the user experience on your platforms. Of course, remember to handle user data responsibly.
Step 7
Implementation, monitoring, and optimization.
It's time to bring your marketing plan to life. Implement, measure, and analyze the results of your efforts. Identify what works and what doesn't, and adjust your strategies to achieve your desired revenue goals.
As an professional, we understand the challenges you face on a daily basis. That's why we offer a practical full-service approach to assist you in creating a powerful business plan. Don't waste precious time anymore, follow the steps and establish a strong foundation for any business.
At Redkiwi, we are experts in creating digital and offline strategies that differentiate any business from the competition. Our team of strategists, creatives, digital marketers, developers, analysts, and specialists provides a unique, personalized approach for our clients.
We combine a strong strategy, creativity, and smart technological applications to help them grow and succeed. We assist CEOs, CFOs, COOs, and founders in achieving their organizational goals, regardless of the stage their organization is in. We can seamlessly adapt to your existing strategy or propose a completely new, distinctive strategy.
