Learn how to write a marketing approach and incorporating sales management strategies to create a professional small business plan outline.
When an entrepreneur determines to start a small business, the first step is to write an adequate business plan. If the business proprietor wants to bring investors or needs a loan to get lighted, it is essential. The project should be complete and cover all viewpoints. This article looks at writing a good marketing line of attack and an emphasis on sales management tactics for a successful business plan.
Creating a Market Strategy for a Small Business Plan
Developing a market strategy is an integral part of a sound business plan because it describes how the company will interest and retain customers. The portion of the outline should illustrate the methods used to attract customers to the product and/or services of the business. Some of the methods used as part of the marketing strategy may include:
- Advertising media methods
- Promotional strategies
- Market penetration strategies
- Demographical consumer data and infiltration
With each strategy used in the business plan, the entrepreneur should explain why and how it will be implemented. Furthermore, the marketing outline needs to explain why consumers choose the company’s products or services over the competition.
Creating a Sales Management Strategy for a Small Business Plan
Since the marketing plan illustrates how the business will attract consumers, the sales management outline illustrates how customers will handle daily sales activities. Sales activities and interactions with a customer can vary widely depending on the business model. Some considerations for a sales management strategy may include:
- How amounts are made for goods and services
- Pricing structures with competitive comparisons
- Delivery methods of products
- Outside and/or inside salesforce
- Customer complaint resolution process
- Salesforce compensation
- Sales training
Like the marketing strategy outline, the business plan’s sales section should go into detail to illustrate why and how the strategies will be implemented. Depending on the project model, there may be ber other factors to consider. These are just a few models of generating a sales management strategy outline.
According to the U.S. Small Business Administration (SBA), the marketing and sales strategies outline should be the fifth section within the elements of a business plan. This section should follow the organization and management section of the business plan. Following the marketing and sales section is the service or product line section.
Each part of the business plan has to be as comprehensive as possible. They should also be written in a manner that holds the reader’s attention, especially for potential investors or lenders. Any innovative marketing or sales strategies that will increase sales and consumer confidence should be emphasized for increased profitability potential.