Successful business owners know their good customers, their bad customers, and their mediocre customers. They know more about their competitors than their competitors know about themselves. They never stop gathering information that will help them succeed in the marketplace. They use this information to reach new customers, retain existing customers, and grow their overall customer base.
Startups are often ignored or badly served by marketing consultants because they have low budgets and limited reseources. At Ground Floor Partners we have over a decade of experience helping startups develop marketing plans on a limited budget.
Benefits of a Solid Marketing Plan
- Higher marketing ROI — your marketing dollars go much farther
- Increased customer retention — which also leads to lower marketing and sales costs
- Lower management costs — less time spent chasing “new opportunities”, more time spent on sustainable business growth
- Improved business intelligence — you understand your competitors and your customers better, so you make better decisions
- Higher profits — and better positioning within the market as leaders rather than followers
Our complete startup marketing plan process consists of four stages:
- Market Research
- Analysis and Planning
- Monitoring and Adjusting
1. Market Research
Accurate, current market research makes a difference. Without it, you risk wasting money and time delivering the wrong products at the wrong price with the wrong message to the wrong customers. Our market research for startups yields solid, factual, defensible information that is directly relevant to your specific needs, not the needs of the “average” company in your industry.
- Survey design and execution (invite respondents, collect results, analyze, report)
- Phone or in-person interviews of customers, employees, executives, business owners, industry experts, etc.
- Focus groups, roundtables, and executive forums
- Market opportunity assessments (evaluate the potential for your ideas, products, services, or processes)
- Competitor analysis / competitive intelligence studies
- “Blue sky” (brainstorming) sessions on product / application / market possibilities
Ground Floor Partners can help you gain a much deeper understanding of:
- Market opportunities
- Prospects and Existing Customers
- Industry trends
- Environmental or regulatory risks
2. Analysis and Planning
We’ll develop a marketing strategy that differentiates your business from your competitors. We’ll help you differentiate your company from competitors in ways that are meaningful to customers; define (or refine) your company’s value proposition; and help your small business deliver the value you promise.
Then, we’ll help you execute by translating your marketing plan into action through all aspects of the marketing mix
4. Monitoring and Adjusting
To be successful in the long run, you need to establish metrics to track results and continually refine the approach.
Your tracking system can be as simple as one or two Excel spreadsheets, or as elaborate as a complete executive marketing dashboard.
Our marketing planning process can be tailored to your specific needs. Even if your company is in the earliest stages of development, we can help.
Contact Us now to discuss your market research and planning needs.