A marketing plan is a strategy for getting more business. It’s a way to get the best bang for your buck because you are being smart about what you mail and when. A good marketing plan fits the needs of your business and keeps your income steady and rising. And since you’re taking a longer look, it will help keep you from getting discouraged if a single mailing doesn’t knock your door down with new business.

Marketing plans can cover years, but should at least address the next three to six months. They are best when written down, so that you don’t forget them and can easily refer back later. And best of all, in spite of what you may think, you can create one in just 60 minutes.

So close your office door, grab a pen and paper and let’s turn your next hour into an income-increasing planning session! Here we go:

Step #1 KNOW YOUR MARKET

Whether you are planning to win a football game or planning to win customers, you must know what you’re up against. Your first step is to survey what you know about what you face. Unless you are very new in business or live in a cave, you probably know your market pretty well already. Take a few minutes and look over what you know. Is your market highly competitive? Is there a lot of demand for your product right now? What do you know about your competition? How does your pricing and positioning compare to theirs? What do your customers and prospects seem to want or respond to? Pull out a calendar. Are there any seasonal factors or other opportunities that you could take advantage of?

Write these items down for reference, particularly any key challenges you face or any key opportunities you could take advantage of.

Estimated time: 5 minutes

Step #2 CHOOSE WHAT PRODUCT TO PROMOTE

Don’t make the mistake of trying to sell everything at once (and end up selling nothing). Look over your various products and services, including their past sales history. Get actual numbers if possible so you’re not just estimating.

Then look over which products people buy first and which products they buy after that. Consider the opportunities and challenges above in the next few months and decide which product you want to promote in order to get the best return on your marketing dollars.

Take a look at your past postcards or other promotions that were successful. Dig up any response tracking records you might have to evaluate what has worked the best. Usually your best bet is to promote more of what has done well before instead of something new and untried. However, if your market conditions have changed, you may need to adapt in order to stay ahead. Write your chosen product down nice and big on your notepad.

Estimated Time: 5 minutes

Step #3 SELECT YOUR SPECIFIC TARGET MARKETS

You now must ask yourself who has demonstrated they buy this product and who else might buy it. And it’s important to get specific. Really breaking down those that are most likely to buy is the key to great return on investment.

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