MBSTL Business - Running a Business - Sales & Marketing: Home

Adapted from Effective Marketing and Sales Guide

Stage 1 Develop a Marketing Strategy

1. Market Research

Understand your customers, target market, competitors and trends in your industry.

• Market & Consumer Research Guide
• Market Research (SBA Webinar)
• Conducting a Market Analysis (SCORE Webinar)
• Understanding Your Customer (SBA Webinar)
• Competitive Advantage (SBA Webinar)

Find a market research firm at Quirks Directory Sourcebook.

2. SWOT analysis or Viability analysis

Work out your costs and break-even point to ensure that this business venture is feasible; analyze your strength, weakness, opportunity, and threat.

• Break-even point calculator (Bplan)
• SWOT analysis (Free Management Ebook)
• SWOT analysis (Bplan)
• SWOT Analysis Worksheet (SCORE)
• 48 Questions to Ask in Your SWOT Analysis (SCORE Webinar)

3. Develop a            Marketing Plan

Use your market research, marketing plan guides and templates to create your roadmap to success.

Webinars

• Increase Brand Awareness with Promotional Products and Retail Packaging (SCORE)
• Simple Steps for Starting Your Business: Module 3 - Creating Your Marketing Plan (SCORE)
• Fusion Marketing: The Next Generation of Marketing (SCORE)
• Marketing 101: A Guide to Winning Customers (SBA)

How-to Guides

• Marketing Plan Guide (SCORE)
• Simple Steps for Starting Your Business: Module 3 - Creating Your Marketing Plan (SCORE Course)

Template

• Marketing Plan (The Massachusetts Small Business Development Center)
• How to Create a Marketing Plan

Samples

• Marketing Plan Sample (mplans)
• Marketing Plan Sample (Maine SDBC)   
• Forbes Marketing Plan Templates

4. Branding

Use your market research and the brand strategies to create your roadmap to success.

• Protect Your Brand- How to Create a Trademark That’s Truly Distinctive (SCORE Webinar)
• Guide to Rebranding Your Business  (SCORE Webinar)
• 3 Steps To Building A Profitable Digital Brand (SCORE Webinar)
• Pictures Speak Louder Than Words: Visual Content Strategies for Small Businesses (SCORE Webinar)
• Your Brand Brainstorming Worksheet (SCORE Article)

Stage 2 4Ps of Marketing. Product, Price, Place & Promotion

5. Product

What are you going to sell?

Articulate the features and benefits of your product or service. Define your Unique Selling Proposition (USP) and understand what differentiates you from your competitors.

• Unique Selling Proposition (USP): Definition, Examples & Templates (Business News Daily)
• How to Write a Unique Selling Proposition – USP (the Charted Institute of Marketing)

6. Price

How much can you charge for your product?

Costs, constraints, customers and competition all affect price.

Research how much you can charge for your product by understanding price elasticity.

• Introduction to Pricing (SBA)
• Pricing Models for Successful Business (SBA)
• Pricing Products and Services (SCORE Course)
• The Power of Pricing (SCORE Webinar)
• The Startup Roadmap: Chapter 9 - Pricing, Sales, and Distribution (SCORE Webinar)

7. Place

Where will people buy your product?

Manage your distribution to maximize revenues through direct and indirect channels in physical commercial environments and online.

• Place in Four P’s
• Channels of Distribution (Lars Perner, Ph.D.)
• Distribution Channel Assessment Worksheet (SCORE)

8. Promotion

How will people find out about your product?

Highlight the types of promotional activities you will undertake such as sales calls, social media, networking and any other means of promotion that you will use to reach your target markets.

• Building Your Brand (SCORE Course)
• Fusion Marketing: The Next Generation of Marketing (SCORE Webinar)
• Live Q&A: Masters of Marketing with Seth Godin and Ramon Ray (SCORE Webinar)
• Outdo Your Competition by Optimizing Your Online Search Listing (SCORE Webinar)
• How to Turn Your Customers into Volunteer Marketers (SCORE Webinar)
• Social Media Marketing Industry Report (Social Media Examiner)
• Create a Powerful and Practical PR Strategy for Your Small Business (SCORE Webinar)

Find media circulation rates and listing advertising rates, using

SRDS  Publications or Gale directory of publications and broadcast media

Digital marketing/content marketing tools:

• 50 Tools to Jumpstart Your Content Marketing Efforts
• Essential Digital Marketing Tools

Research advertising trends from AdAge

Stage 3 Implement an Effective Sales Strategy

9. Sales Fundamentals

Develop sales forecasts, sales plans and techniques to drive revenues. Create performance measurement targets and key performance indicators to measure.

• Sales: A Guide for the Small Business Owner (SBA)
• Preparing to Sell: Defining Your Target Market and Aligning Your Sales and Marketing Message (SCORE Webinar)
• Scale Your Business Through Outsourcing (SCORE Webinar)
• Sales Is Out! Content and Education Are In (SCORE Webinar)
• 4 Secrets to Grow Your Business Independent of Your Role (SCORE Webinar)
• Pavement-Pounding Strategies to Generate More Sales (SCORE Webinar)

• The Barefoot Spirit and Company Culture: Sales is King (SCORE Webinar)

10. Online Business

Assess whether you can provide superior customer service, streamline business processes, increase sales, and reduce costs by going online.

Refer to Doing Business Online Guide

11. Close and Follow up Sales

Understand methods of closing, negotiating and building the client relationship to ultimately drive your bottom line.

• The Culture Imperative- Drive Growth with Customer Obsession (SCORE Webinar)
• Expert Tips to Keep Your Online Customers Excited and Engaged (SCORE Webinar)
• Gain and Retain Customers With 7 Simple Social Tips (NFIB Webinar)

12. Customer Care

Improve your reputation and increase the likelihood of further sales with your customers through exceptional client care.

• Customer Service Plan (SBA)
• How to Connect with Any Potential Customer, Referral Partner, or Influencer (SCORE)