A great tip to identify what type of marketing plan is right for a business is to ask this question “What is the lifetime value in profit of a customer we sell to?”
I suggest you then assign your business into one of these three customer lifetime profit value categories
- Sub €200 profit
- Sub €2000 profit
- Above €2000 profit
This is important as it defines your cost of customer acquisition (what it costs a business to get a customer to buy from them) and how much a business can afford to pay for clicks, traffic and a sales lead. The business should also figure in customer churn, do not over calculate how often or how long a customer will stay loyal to a business. Depending on the business model, the marketing plan also affects cash flow, because you pay for marketing upfront with a lag over weeks or months to get an ROI on the tactics.
Marketing plans and go-to-marketing strategies may get more advanced and complicated as a business grows but for the vast majorities of companies a simple, effective marketing plan will suffice. Do not write a marketing plan to please an investor or bank manager, write the marketing plan as your best bet to get customers interested into what you are selling.
The full article on marketing plan can be read here Marketing Plan – The Bitter Business
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