KCARD helps clients with a variety of services, including business planning, grant facilitation, recordkeeping, and financial development. In addition to those services, KCARD works with clients on developing marketing plans and social media strategies. Kati Bowman, Marketing and Business Development Specialist, answers a few questions about how KCARD can assist you with your marketing.
Q: Why do I need a Marketing Plan?
A: Developing a marketing plan helps you to think through how you’re going to get your products and services from the production/idea phase to the consumer. The marketing plan outlines your marketing strategy, pricing and distribution, and advertising activities planned for the period. For a developing business, it outlines how you will grow the business beyond family and friends. For an established business, it might include introducing new products or reaching a new target audience or market area. It also establishes goals and benchmarks for the business, so you can measure the efficacy of your marketing strategies.
Q: When should I develop a Marketing Plan?
A: Typically, a marketing plan is developed or updated at the end or the beginning of the year. This way, you can start the year with a better outlook on who your target customers are and how to reach them. It also helps determine what your marketing budget is and how it fits into your business overall. However, if you are going through changes in your business, adding new products, expanding the business, new owners, etc., it is important to update or add to your marketing plan prior to these changes taking place.
Q: If I am already using social media, do I need a Social Media Strategy?
A: Absolutely! Many times, small businesses run their social media accounts for their business like they run their personal accounts – ad hoc and without any forethought. When you do this, your social media content can be sporadic and may not reach the followers you’re trying to reach. Developing a social media strategy can help you in scheduling your posts and predetermining content, but it will also help with content development so even on those hard days or days with no free time, you’re still getting content out there.
Q: How do I get started with developing a marketing plan or social media strategy?
A: To start working on a marketing plan or social media strategy, you need to step out of “owner” mode and into “customer” mode. How do your customers view your business? If you were a customer, what would you see or like to see from your business?
When I work with a business on developing a marketing strategy or social media strategy, I want to understand the following:
Who is your target audience? Are there customers that you think could benefit from your product(s) but are not reaching?
What are your marketing goals? These go hand in hand with your business goals. What does the timeline look like to reach these goals?
What are you currently doing for marketing? What are your strengths and weaknesses in marketing your business?
While the marketing plan covers so much more, these are the main questions that need to be answered first. This will help guide the marketing plan and social media strategy to best fit your business.
If you are having a hard time getting started or would like assistance, I would encourage you to reach out. Also, KCARD has a Marketing Plan Development Guide and Social Media Tactical Plan to help you work through these elements. Remember, it is ok if you don’t have the answers to every question – we are here to help guide you through. Contact us at (859) 550-3972 or kcard@kcard.info to get started!