How To Formulate Online Marketing Plan With First 4 Steps (Part I)


However good a product or service is, no one is likely to know about it unless it is marketed properly. Even if you are offering a service that caters mainly to the needs of the local populace, it will be best for you to have an online marketing plan that will increase your exposure not only locally but globally as well.

Those of you who have put in writing a solid internet marketing idea can easily merge it with your current marketing practices to increase your turnover. For those who have not, I am providing the necessary guidelines herewith.

There are ten basic aspects that you should take into consideration while formulating an online marketing plan. We will discuss each in detail.

Points 1 to 4:

1. Your Objective:
While making a marketing plan, the first thing you have to consider is the objective of the plan, or the purpose for which you are making the plan. You may want to increase the number of clients, provide better service to the clients you already have, create product or service awareness, or create online support for your product. Identify that objective first and decide the amount of money you are ready to spend for it.

2. The Sales Funnel:
The sales or marketing funnel is a funnel-shaped marketing model designed to bring customers down through it into purchasing a product. The design starts at its broad top, at which level it consists of creating consumer awareness by advertising and giving freebies. Then it narrows to getting their opinion, then knowing their preferences, and finally making them buy the product or service. Create a plan where you place your products at these different levels and decide how the products that you are offering will relate to customer requirement. Then repair any flaw your product may have, to increase its appeal to the buyers.

3. Current Competitors:
Every business owner is striving for a greater share of the market pie. You should frequently search the internet with the keyword customers are likely to use for searching your product or service, and thus identify similar businesses that are doing better than you. You should then analyse the strengths and weaknesses of these businesses and use that knowledge to make your proposal more attractive to potential customers and thus improve your business.

4. Targeting the Right Market Segment:
Target marketing, also known as rifle marketing, where you target selected consumer sections for selling your product, is better than shotgun marketing or mass marketing, where you take your business to the masses. However, for target marketing, you should first of all identify the market segment that is likely to be attracted to your product. Various considerations like the gender, age, social strata, ethnicity, educational level, purchasing power, internet advancement, and even artistic inclinations of the people have to be analyzed to correctly isolate this target group from the general public.

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