Skinny Marketing Plan
As a jewelry business owner, you of course have a detailed marketing plan, right? In fact, many businesses do not, so if you don't have one, don't despair, because you're hardly alone. You might be saying, "well, I simply don't have time to manage my jewelry business, develop a marketing plan and carry out that plan". Or maybe you are simply selling online as a hobby. A marketing plan is still necessary, and it's easier than you think. The solution is the Skinny Marketing Plan.
Sure, if you were to hire an expensive consultant to do a marketing plan for you, it would probably be a hundred pages long. It would contain your mission statement, your positioning statement, extensive research on your customers, all your competition and how they compare, a detailed explanation of your current industry, detailed information on your jewelry products, your pricing, your distribution channels, your marketing materials, your marketing budget for the next five years, a detailed schedule of when each task will be carried out and who will carry it out. Whew - and this is just a sample of what it would contain!
Many small businesses are better served by a much more slimmed down version of the type of plan described above. This is a plan you can do yourself, and would include the following simple elements:
- A Positioning Statement: This explains why you are in business, what your jewelry products are and where they fit into the marketplace, along with a description of the overall market you are serving. You can do this in a page or two.
- A brief demographic description of your target customer (man/woman/age ranges/income ranges/geographical location/buying habits, to name a few).
- A description of how you distribute your product, as well as how you see that changing (if at all), as technology evolves in the future.
- A simple list of the marketing vehicles you have chosen to promote your business: i.e. monthly shows, banner ads, social networking, click or keyword advertising, direct mail, local advertising and trade advertising, to name just a few. This can consist of just a few things that you do regularly throughout the year.
- A one-year calendar that outlines exactly when you plan to carry out each of the vehicles you've chosen to market your business. This calendar will also include how much each vehicle will cost, and who will do each one.
That's it. The next step is making it happen. You'll need to post or store this plan in a place where you will see it frequently, and you can review it regularly, so you always know what you'll be doing next - and you'll do it. The trick to making this plan work is to keep it simple. Many businesses do a marketing plan and then toss it in a drawer until it's too late to act, as the market has changed. You don't want that to happen.
Ruby Lane is home to over 2,000 individually-owned shops from around the world offering antiques & art, vintage collectibles and jewelry. Visit www.rubylane.com