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Startups: How to Update Your Marketing Plan

Starting your own company can be one of the most exciting moments in an entrepreneur’s life. While it may be an important milestone, running a startup company is often associated with a number of obstacles and not to mention major headaches, especially if this is your first time to enter a business. One of your ultimate goals is to make your target customers know your brand and what you can offer to them. This is where strategic market planning comes into the picture.

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How to Make an Effective 2017 Marketing Plan

We all know that marketing is integral to the survival of startup companies in the competitive world of business. An effective marketing plan helps to successfully promote your company’s products and/or services. Unfortunately, the trends in marketing change every year that is why it is important to always update your marketing campaigns and efforts to be able to meet the latest trends.

To help you get started with your marketing plan updates, we have rounded up some tips on how to make a marketing plan that can effectively get your business in the right direction this year.

1. Analyze Last Year’s Trends in Your Sales and Revenue

It will provide you a clear overview on how and where your sales and revenues were generated last year. Consider the following factors and make sure to document everything that you have learned.

  • The source of your revenue (from existing or new customers)
  • The duration of your average sales cycle
  • Where your best lead sources came from
  • Opportunities that you lost and gained

2. Redefine Your Company Vision

Once you have gathered your data, use them to redefine how you see your company this year. Write a one-page document describing the things that you want to achieve in 12 months. Make sure to be specific in your sales and marketing goals.

3. Update the Profile of your Target Customers

Since the change in trends can affect your market, it is important to take some time to review and update the profile of your ideal customers. By updating their profile, it will help you to easily achieve your business growth this year.

4. Study and Analyze your Competitors Marketing Strategies

Because of the change in the marketing trends, your competitors are probably busy updating their strategies too. However, you do not have to study and analyze all your competitor’s strategies; just select maybe two or three. A great way to start is by checking out their website and seeing if they have made any changes in their designs and profiles.

5. Review and Update Your Marketing Plan

If your marketing strategy involves website and use of social media, then make sure to check if its present design can still effectively attract prospective customers. Your branding and messages should always be consistent in engaging your target customers in order to reach your company’s target sales growth.

6. Document Your Updated Sales and Marketing Strategy

Once you have identified any sales and marketing gaps, make sure to develop an approach on how to address these issues over the next 12 months. Document your updated marketing and sales plans for content and social media marketing, lead generation and nurturing, as well as your account development.

Final Thoughts

Obviously, there are so many things to do to make a startup business a successful one. While some companies require the services of a business consultant, you can choose to download our marketing proposal templates. They are available for free download and can be edited to match your marketing efforts. So what are you waiting for? Do not waste time and download them for free!

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