Any business will only succeed if it is effectively marketed to its customers. While a marketing campaign can utilize any format from word of mouth through to expensive TV advertisements, the internet is rapidly becoming the medium of choice.

It is cost effective and reaches a global audience. However, without an effective marketing plan, there is no guarantee of success. Here then are some basic steps to take to formulate a winning marketing plan.

Set your goals

The first step is to understand what it is you want to achieve. We are talking goals here, not visions. Goals are concrete, specific and measurable. They include both short and long term objectives. They also need to be reviewed at regular intervals.

This is equivalent to setting out your journey on a map, highlighting all the major destinations. Goals could include the return you expect to make on your investment, building brand awareness or reaching new customers.

Know your target market

Next, define your potential customers. Are they young or old, married or single, male or female? What educational level are they likely to have achieved and what income bracket are they in? How much time are they likely to spend on the internet and what methods would they use to search for your product?

Once you have established an ideal customer profile you can design a website or advertising campaign focused on this specific target group and market your products or services more effectively.

Know your competitors

This is a the old maxim of know your enemy. Establish whether you are competing with small, local businesses or large national or international companies. Keep track of their websites and online marketing techniques. Look for gaps in their marketing campaign which you can fill or ways in which you can make the presentation of your own product or service unique.

Choose your advertising sites

The most effective advertising technique is to use a variety of sites which would most likely be visited by your potential customers. Before choosing a site determine the quality of the site, the number of external links, whether or not your competitors’ advertisements appear on the site and the extent to which the content of the site complements your own business.

Any external advertising should link back to your own website. It goes without saying that your website should be visually appealing and easily negotiable.

Make quite sure that any download links work properly. Monitoring your site is also important. Encouraging visitors to register or subscribe to a free newsletter are two ways in which you can keep track of your customers. Using web analytic software is another.

Budget

Once you’ve figured out your target audience and the placement of your advertisements, and have some idea of the costs involved, establish a marketing budget. If you find that your planned advertising campaign exceeds your spending limit, prioritize the placing of your advertisements.

Once you start reaping the results of your advertising you can expand your campaign. If you are using a variety of marketing techniques, track the return on each initiative and compare your actual revenues with your projected income.

By setting up an effective marketing plan, consistent with your business goals, you improve your chances of launching a successful marketing campaign and garnering a substantial return on your advertising investment.