• Ralph

Business Plan Writing: Marketing and Sales Plans

Updated: May 14, 2020

“If you believe your product or service can fulfil a true need, it’s your moral obligation to sell it.” - Zig Ziglar

In the last installment of our creating a business plan series, we talked about the approach for detailing your products and services.

In the sixth “creating your professional business plan” installment, we’ll expand on this, and help you to develop your marketing and sales plans, so that your business plan readers will gain an appreciation for how you’re going to advertise your offerings to your target core customer base.

To be thorough in your process, there a few key aspects that you will need to answer.

Recognizing Your Target Customer

Before you can develop brilliant marketing and sales plans, you need to identify whom you’re selling your services too.

Who is your ideal customer?

A helpful way to define your target market is to construct customer personas — fictional customer biographies that represent members of your target demographics. Personas are useful because they create “people” that you can speak to when designing your marketing and sales messaging.

Customer personas describe your ideal customers; you may have more than one customer persona, especially if you have a diverse product or service offering. Focus on describing real people, including their name, profession, income, interests, preferences, previous purchase histories, and more.

The more you flesh out a persona, the better you can target your strategies, and the more effectively you can reach them, please them, and keep them.

Pricing Strategy

You’ve defined your target market. Now you need to decide what you’re going to charge for your products or services. There are several factors