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Because many aspiring small business owners and freelancers are working with a tight budget to get their idea off the ground, more thought, planning (and funds) tend to go into developing the product or service, and marketing gets set aside.

As a small business owner, knowing where to start can feel pretty overwhelming. What can you actually afford, and what will give you the best ROI? The marketing mix is big—and can include anything from email, flyer distribution and face-to-face networking to social media, online ads and website content.

Each business is different and requires a different set of marketing tactics to ensure your potential clients know what you’re offering (and how it will benefit them.) The marketing plan essentially forces you to look at the big picture before launching your venture.

Get your whole team together and sit down for a brainstorm. Grab some coffees, a pile of pens and paper, and have a round table discussion. If you’re a freelancer or sole proprietor, grab some old colleagues, acquaintances from the industry, and even friends. Getting others’ opinion on your product or service before you go to market can save you a lot of wasted time and energy.

We’ve outlined 3 reasons why creating a marketing plan is essential for your future business—regardless of your industry. In Part Two, we’ll share the basics of putting together your marketing plan for your small business venture.

3 Reasons you need a marketing plan before launching

1) You’ll know your customer better

Taking the time to build a marketing plan forces you to sit down and really think about the direction your business is heading in. It’s important to listen to what your target market wants, and make sure what you’re offering actually satisfies one of their needs. You may have a wonderful idea—but launching it without testing it through market research can lead to disappointing results.

2) You’ll understand your business environment

Understanding your competitors, customers, and current issues that might impact the marketplace within which you operate will already put you at the head of the pack. Without understanding the risks and issues that could arise, you won’t be able to plan ahead for challenges or consumer demand shifts, and instead be left floating in a sea of uncertainty – while your competitors swim ahead.

3) You’ll match long-term goals with short-term tactics

Creating a marketing plan allows you to contemplate all your potential marketing options and stagger them in a controlled way that will help you achieve your overall business goals. For example, you might not be able to afford a large scale digital campaign right now, but can build your online presence with a modest budget by starting out with a simple website presence, being active on social media, and advertising in a local directories.

You’ll need to consider this important question: where am I now and where do I want to be in a few years? Then consider how you’re going to get there—what resources you have available now, and what you see yourself having access to in the near future.

We love to hear personal business stories. Let us know if you have any tips of tricks for creating a marketing plan, or share your success and failure stories with us. If you have any questions, tweet us @411dotca

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