Develop Advertising and Promotion
Determine the most effective approaches, tools and methods to increase your customers’ awareness of your products and services.
Here’s a list to get the brainstorming started.
View a Business Plan Example: Advertising and Promotion
Action
If you have set up a working copy of your business plan using the Shell™, this information will be entered under section 3 “Marketing” under the heading 3.8 “Advertising and Promotion”
Download the “Advertising and Promotion Plan Checklist” Worksheet.
To complete this Element you will need to analyse the various competitors and then:
- Determine the Industry standard as to the percentage of revenue put towards advertising and marketing.
- Establish which methods within your means will enable you to achieve your goals.
- Develop a detailed 12-month advertising and promotion plan and budget using the “Advertising and Promotion Plan Checklist” Worksheet.
- Brainstorm how your business can get free publicity or how you can partner with other businesses or agencies to conserve costs.
- Include the detailed budget in the Appendices Section of your business plan.
- Identify areas needing further market research and set goals to carry it out.
- Develop a summary of your advertising, promotion, and publicity plan for this Element.
- Define as many components of your marketing package as you can, with attention to your business graphics, logo design, business cards, letterhead, packaging, signs, advertising style, methods of sales, telephone use, service, and physical surroundings.