If you’re currently in business for yourself or are considering starting a new business, marketing is a skill you absolutely must master, if you hope to be successful. Although marketing can be a daunting prospect for many entrepreneurs, mastering the basics of writing a marketing plan can be easy and fun – and it can provide you with the foundation you need to successfully grow your business.
Let’s get started by defining the purpose and mission of your business.
The purpose and mission of your business is one of the marketing plan basics because these details will inform the rest of your marketing plan, as well as the team who will eventually be responsible for implementing your plan.
It should be said here that as the owner of your company, you should be intricately involved in the development of your overall marketing strategy and its implementation. It is your primary job to ensure that you are effectively reaching your target audience with your marketing message.
The purpose statement details the objective (or objectives) you wish to achieve with the implementation of your marketing plan. You may be introducing a brand new product or service to a market you already serve, re-introducing an existing product that has been improved or re-engineered, or taking an existing product or service into a new market.
In short, the purpose outlines exactly what it is that you hope to accomplish by implementing the plan.
The Mission Statement
In your mission statement you will want to identify the primary reasons that your company exists in the market in the first place. This section often consists of several short, carefully worded statements that address some or all of the following questions:
- Why is the company in business?
- What market pain or problem does our product or service address?
- What markets do we serve? Why do we serve these markets in particular?
- What are the main features, advantages and benefits we offer our customers?
- What is our general philosophy for doing business?
- What is our primary point of differentiation from our main competitors?
Being able to clearly convey the purpose and mission of your business is critical to ensuring your team is able to execute successfully on your vision, winning more customers in the process.
When you’ve mastered the marketing plan basics outlined in this and other articles, you’ll be well ahead of many of your competitors in knowing how to communicate effectively with your target audience and motivate them to take action and become your lifelong customer.