The Topics You Need to Discuss in Your Internet Marketing Plan include:
1. Market Research
Collect, organize, and write down data about the market that is currently buying the product(s) or service(s) you will sell. (From now on we’ll refer to your products or services as “product”.)
Some areas to consider:
- Market dynamics, patterns including seasonality
- Customers-demographics, market segment, target markets, needs, buying decisions
- Product—what’s out there now and what’s the competition offering? Conduct market research by going to google.com and conduct searches on the types of products or services you want to sell
- Current sales in the industry
- Suppliers-vendors that you will need to rely on
- Target Market(s)—To be successful, focus on one or two small niche markets instead of a large general market. Niche markets have far less competition and they tend to be more profitable. If there is one thing you can do to help your odds of being successful in business it is to focus on one or two small niche markets
Describe your product (or service). How does your product relate to the market? What does your market need, what do they currently use, what do they need above and beyond current use?
Describe your competition. Develop your “unique selling proposition.” What makes you stand apart from your competition? Why are you special? Why should a customer choose to do business with you instead of one of your competitors? The better job you can do to differentiate yourself from your competitors, the more success you will have.
4. Mission Statement
Write a few sentences that state:
- “Key market” – who you’re selling to – be very specific!
- “Contribution” – what you’re selling
- “Distinction” – your unique selling proposition – why are you different from your competition?
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