Posts Tagged ‘Plan’

Promotional Plan

Monday, November 19th, 2012

A promotion plan outlines the promotional tools or tactics you plan to use to accomplish your marketing objectives. A promotional plan however is not a complete marketing plan it is simply a single component of the marketing plan. Nevertheless, without a promotional plan all the efforts put into making a good marketing plan could be a waste of time. A good plan covers all forms of communication between existing or potential clients and the seller. The four major components of a promotional plan include advertising, public relations, personal selling and sales promotion.

Benefits of having a promotional plan

A promotional plan helps you concentrate on your target market and discover any gaps available in the market to create new opportunities. The plan also helps you to gauge your progress by highlighting strategies that are successful and those that should not be entertained.

An effective promotional plan will incorporate the issue of sourcing for fresh leads and developing additional networking opportunities as well. In Layman’s terms your plan defines your customers, your business and future objectives.

The only way to earn trust and confidence of potential investors is by presenting a plan that knocks them off their feet. Having this in place will establish to them that you understand your market well and you have proper strategies in place to enable your business to achieve, its ultimate objectives.

A good promotional plan will also help you save money by reducing unnecessary expenses while presenting new business opportunities in the future. It will also benefit your business by ensuring you are involved in activities that fit your budget.

Importance of a promotional plan to a small business or corporation

If a plan is carried out properly it will propel a business to become highly proactive in the market. And yes small enterprise or corporations can react to the competition and changes in the market proactively. Preparing for market changes in advance can only benefit a business.

Developing a strong promotional plan is key to overcoming your shortcomings and generating more income for your business. Generally, a good promotional plan will demonstrate that your small business or corporation is in control. When your business is in control, the possibilities for success are endless and the achievements are greater