Creating an Effective Marketing Plan for Your Home Performance Business
If you are in the business of managing a home performance company, you need to create an effective marketing plan. Many consumers are still unaware of the efforts made by the home performance industry, which means you need to be able to effectively relay what your business does.
Here are some tips that can be used to improve your marketing plan.
1. The plan must be unique and tailored to your business.
One of the first things that you must do is to create a marketing plan that is unique to you and the customers you are targeting. The plan must take into account your business, customers, the market, and the environment in which these are operating. The reality of managing home performance includes the fact that external and internal factors may affect the efficiency and the performance of a home’s unique systems. Your plan must explain very clearly what your business stands for and the kind of services it would provide its customers.
2. The plan must be flexible.
The plan must take into account that there are likely to be changing needs and requirements of the customers. In other words, your plan needs to be dynamic and flexible. There should be options available in case of any drastic changes. Your plans should take into account factors such as weather conditions and the accompanying requirements as well as times of low and high demand.
3. An effective plan includes checks and balances for the quality control of the technology.
The plan must include monitoring of the quality of the systems you provide, including certifications, checks, and guarantees. Customers have to be made aware of the stringent requirements you enforce to ensure that your home performance system is above par. Proper communication of this information is a must.
4. Chart your plan in advance.
Try to create a monthly or quarterly plan so that you can see and track its progress—the changes, the disruptions, and the improvements made. The plans should be made before you begin marketing yourself. You should also spend extra effort and time on creating well-crafted messages that are timed with various occasions and holidays to create maximum impact.
5. An effective plan must include an optimum budget allocation.
A proper marketing plan would certainly need a well-planned and devised budget. For effective and successful home performance businesses, a considerable amount of your revenue has to be invested in marketing. Some business analysts suggest that small business with revenues lesser than $5 million should set aside about 7–8% of their revenue on marketing efforts that can be split between brand development costs and business promotion costs. If you are starting out a new home performance contract venture, then your marketing budget can go up to as high as 20%. Contrarily, if home performance is just one of the services you provide, the revenue for marketing can be as low as 2–3%. But the fact is that a definite budget is required to sustain marketing efforts for home performance, depending on the extent of the business as well as how long it has been in operation. You should spend money on promotional materials, business insignia, cards, banners, social media advertisements, and branding efforts—all of which will help enhance the image of your business amongst customers and in the market.
6. An effective marketing plan needs to include monitoring and tracking mechanisms.
Once you have determined your strategies and determined the kind of branding avenues and channels you are going to use, it is essential to invest in monitoring and tracking mechanisms. This includes monitoring the kind of response you are getting to your marketing efforts, monitoring consumer opinion, feedbacks, trends in the business and the environment, returns on investment, etc. One important item to track is the number of leads that convert into actual sales.
Jacey Johnson is currently the student advisor of AussieEssays.com. She’s also been a member of the English Language Center. She loves blogging in her free time.
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