Building a marketing plan for your small business

Sales plan vs. marketing plan

Marketing is what sets the direction for how you will find and engage with prospective customers. Sales, on the other hand, describes how you will sell to that target audience and turn prospects into buyers.

We can break it down into:

Let’s take a real-life example. Imagine you started a restaurant. Now, you want people to come and eat there so you publish a post on Facebook. That’s marketing. Once the client comes in, the waiter suggests that they order a more expensive dish from the menu. That’s sales.

In this guide, we’ll focus on the marketing plan and how to bring those potential customers through the door.

Brand

A brand refers to a company or product that consumers recognize by its name. Ideally, consumers’ brand awareness includes positive perceptions of the qualities that distinguish the product from its competition.

Not every business is a brand name but that doesn’t mean it’s not known. Think of the most famous local restaurant in your hometown. When you talk about it with your neighbors, they know what you’re talking about solely by mentioning the name, right? When we talk about a brand, we mean something quite simple: your customers know who you are.

KPIs

KPI stands for key performance indicators. KPIs are the metrics used to measure the performance of a campaign. When starting a marketing plan, you can set a few very simple KPIs—which are basically goals—like how many people visited your store after you published an ad.

Leads

In marketing, leads refer to any individual or organization within your marketing reach who has interacted with your business and therefore has the potential to become a customer.

SEO

Search engine optimization, or SEO, refers to the process of improving your site to increase its visibility on Google, Bing, and other search engines. For example, if you own a barber shop in Atlanta, you want to make sure your website shows up when someone googles “barber shop in Atlanta.”

B2C & B2B company

B2C stands for business to consumer and refers to the process of selling products and services directly to consumers who are the end-users. B2B or business-to-business is a type of commerce transaction that exists between businesses. The type of marketing you pursue will be different depending on your audience (consumers or businesses).

Consumer journey

A customer journey is a map of all the interactions customers have with your company or product. It can be sales calls, website visits, or hearing about it at an event. No two customer journeys are the same, yet marketers can project certain journeys, and direct customers to a specific path, which can help increase sales.

USPs

USP stands for unique selling proposition. It is a marketing concept that refers to the unique benefit or advantage that a product, service, or brand offers to customers, setting it apart from its competitors. USPs are often used in advertising to highlight what makes a product or service stand out.

ROI

Return on Investment (ROI) is a financial metric that measures the profitability of an investment relative to its cost. The ROI is typically expressed as a percentage (as it’s not the profit itself) and is calculated as follows: Cost of investment – total return generated ÷ by the cost of the investment. For example, if your business invests $10,000 in a marketing campaign and generates $15,000 in additional sales revenue as a result, the ROI would be 50%.

Retention

Retention refers to the ability of a business to retain or keep its customers, clients, or employees over a period of time. It is often measured as a percentage of the total number of customers who stay with the organization over a specified period, such as a year or a quarter. Retention can be a customer coming back for a return purchase or a user that keeps using the company’s service. This is important because it can have a significant impact on the success and profitability of a business. And, retaining existing customers is often more cost-effective than acquiring new ones.

Step 1: Research and analysis

Before you start writing your plan, it’s important to understand your industry, customers, and competitors. Analysis sounds like a scary term, but keep in mind you’re not isolated from your industry. You are part of a larger ecosystem that includes customers, suppliers, competitors, and the broader economic and social context. Knowing what those are can truly benefit your business.

Step 2: Build your plan

Step 3: Create your marketing schedule

Create a list of all the marketing actions you need to take to achieve your goals. We’ll go over a few ideas for tactics you can use in the next section. Divide those actions into “must-haves” and “nice to haves”. 

Create a list of tasks for each tactic you’re using. Include actions like building or revamping your website, holiday promotions, launching new products, and social media campaigns. Try to plan one marketing effort a month. 

Put these tactics onto a Gantt chartGantt chartA Gantt chart is a bar chart that illustrates a project schedule over time. It is most useful when planning a project and defining the sequence of tasks that require completion.. Consider long-term tasks like website building and short-term efforts like a holiday promotion. You do not need sophisticated software to create your chart. Use Google sheets and create a plan that’s easy for you to understand. 

Here’s an example of such a chart:

Build a website and promote it

76% of shoppers check a business’s website before visiting their physical store or location. And yet nearly one out of three businesses still don’t have a website. Even if you have a store, and most people coming in are walk-ins, you can gain more customers and grow your business by having an online presence. And we’re not talking about e-commerce. A basic web page with your business name, details, and short info about your store/business/service, some visuals, and you are set!

You can use existing (free) DIY platforms to build your website yourself. Or, you can use more advanced tools if your budget allows it.

Build your community and brand with social media

Social media is a powerful, very accessible, and inexpensive platform for small businesses to market themselves and keep in touch with their community of customers. In light of that, it’s no wonder that a whopping 96% of small businesses use social media to market themselves. 

And with so many purchases done via social media these days, it’s really crucial for businesses to also be there. See what social media platforms your competitors are using, and join in as well. For help getting started, check out this beginners’ guide. 

On social media, you can create content and build a follower base without spending money. If your budget allows it, you can also pay for ads to be shared with target audiences across social channels or boost your posts for a small cost.

Start a customer club or loyalty plan

Loyalty programs offer your existing customers a reward for remaining loyal customers. These programs can be run digitally with a loyalty program app or through physical cards or points. For example, you can offer points that will, later on, be redeemed for physical goods.

First, you’ll need to collect email addresses. You can do that through your website, at the store, or via social media.

Send a monthly newsletter to your customers where you encourage customers to refer their friends and family by offering them an incentive to do so. This is a low-cost way to reach a large number of people who have already shown an interest in what you do.

Offer holiday promotions and discounts

Whether you have a store or are selling your products online, you can be creative and use holidays and other special events to make your business stand out. During the holidays, people tend to spend more money and buy more. If you offer a holiday discount—and make sure to promote the deal on social media or through customers—this can increase your sales.

Remember, you don’t have to offer a huge discount on your products. This is actually an opportunity to get rid of stock and clear some space for new arrivals. Any promotion is a good opportunity to post on social media and drive foot traffic to your store or visitors to your website.

Have a storefront? Be creative

Adding a little spice to your shop can help set it apart from the crowd during busy shopping seasons. Whether you choose to decorate for a specific holiday or for the season, don’t be afraid to get creative when dressing up your storefront.

To drive additional foot traffic, you can even offer food tastings, live music, raffles, and other unique, in-person experiences.

Use decorations to promote your special offers for the holidays, special occasions, and seasons. If you’re having a sale—make sure a big sign lets people know about it.