Position in the market.
Define the industry you’ll be doing business in and include research that goes into the details on the state of your industry. Maybe your business has cornered a niche market or is set up to succeed in a larger market due to growing demand. Make realistic goals on how to set yourself apart and how much of the market share to aim for. A competitor analysis can help here — describe your competition to help clarify ways to stand out.
Strengths and weaknesses.
A situation analysis shows that you understand your company’s strong points and areas for improvement. One method for this is to do a SWOT analysis, a four-quadrant grid devoted to strengths, weaknesses, opportunities and threats. Use your analysis to help your team brainstorm ways to meet your unique goals.
Target audience analysis.
Describe exactly who your potential customers are and what their needs might be. Market research companies can provide stats based on the space you’re doing business in, even going so far as to define buyer personas that can be used to help predict behaviours. This can shape your content strategy, informing plans to capture your audience’s attention in various marketing channels through voice, imagery, storytelling and more.
Marketing objectives and measurements.
List your marketing goals. Be specific about what types of business you want to win and how you plan to get your portion of the market share. Next, establish data tracking guidelines and key performance indicators (KPIs) or what you’ll use to measure your success. Your measurement might be the number of products sold, the number of subscriptions sold, the number of downloads or any metric attached to your specific objectives.
Marketing channels and strategy.
Outline each of the marketing activities you plan to carry out and how they support your content marketing strategy or how you plan on framing communications for your audience. Go into detail about what marketing channels you’ll use and why. This may include physical marketing materials, like print ads and flyers and digital marketing efforts, like social media marketing and search engine optimisation (SEO). Today, an email newsletter and a social media strategy are common components of basic marketing strategies. Depending on your market, you may also want to take advantage of promoted social posts, digital ads, podcast ads, targeted video ads and more.
Logistics and financials.
Add logistics and financials to create a complete business plan that can be used to convince potential investors that you’ll provide a good return on investment (ROI). Include your marketing budget, planned roll-out of marketing campaigns and financial speculations that outline how much you believe your company can make in its first one to five years — or the next five years, if your business is already established. Infographics, charts and graphs illustrating your financials can help to captivate your audience.