You've finally come out with that great idea that you've been dreaming about. In fact, you've already created your product and have boxes of inventory stored in every inch of your house. Your test market loves it, but how can you reach all the people you are sure will buy your product? Marketing your product or idea can be a huge undertaking for a new entrepreneur. Perform an online search and you will find an endless number of websites claiming to have the answer to your marketing dilemma. And although most of the of the information you find can be useful, it might also be filled with a lot of outdated methods. The best way to work your marketing magic is by creating a sound marketing plan.
Create a Sales Strategy
The first thing you need to do is define your target audience as accurately as you can. By doing this, you will have a deeper understanding of exactly who are trying to reach. For instance, instead trying to market to a huge general group like women, narrow it down to women between the ages of 21 and 28 years old. What are their hobbies? Where would you find your ideal customer? By honing in on these two points, you narrow your target audience down to a specific group of people. The more specific you are, the more accurately you will be able to target your marketing efforts.
Perfect your Sales Plan
Yes, you will need to develop another sales plan. Understand that this doesn't need to be complex. It can be as simple as writing notes in your notebook to help organize your thoughts. Since you've honed in on our target audience, you need to clearly define how you want to reach them. For the most part, it should include the following:
Goals:
Your goals need to be very specific and measurable. Think about the nature of your product and try to break it down into manageable parts. For example, sell 100 units in 30 days to local independent retailers.
Your Sales Activities:
These tactics are how you plan to make the sales. Will you sell directly to the consumer via your website? This part of your plan might include activities such as creating a sell sheet to send to your local independent retail stores and coming up with marketing ideas like postcards and email lists.
Target Accounts:
Your sales plan also needs to include any accounts you want to sell to. If it's end-users, your plan needs to encompass how you are going to reach them on your website, eBay, or Amazon.
Marketing 101
In addition to developing your sales strategy, you need to define your marketing plan. You need to focus your efforts on the right buyer, so you need to do your homework. If you run into roadblocks, you might want to consider hiring a manufacturer's rep who already has an established following.
There are many other sales channels besides a conventional brick-and-mortar store. Television shopping networks and online stores are also fantastic methods that enable you to sell your product while learning how to effectively sell and market online. Talk to a professional with a master’s in business administration or marketing degree to get a better understanding of the market you are entering and how you can better reach them.