A good marketing plan helps land small business funding: Here’s how.

You need to have a well thought out marketing plan to get small business funding. It’s important to back one of these plans up with the right research and figures so that it’s a rock solid testament to the fact you know exactly where your company wants to go.

Although there are several different templates for a good marketing plan, these all have some common ingredients that can help you when you’re looking for a loan for business.

  • A SWOT analysis will help you to identify your company’s strengths and weaknesses on paper. This type of situation analysis also involves identifying the competition. This is a good section to show off your competitive advantage in the marketplace.
  • It’s important for you to put together your financials to make sure your marketing plan has the right impact. This section needs to include budget and sales forecasts that will have numbers on what you will be charging for your products and services. This section should also have what they cost to produce .
  • A target market profile is another essential you can’t do without. It’s important to demonstrate that you know your customers and their expectations. Basic demographic portraits are an essential ingredient here.

A good marketing plan is all-inclusive and a clear path to small business funding. You’ll also need to set clear and realistic objectives and determine a marketing strategy that works. It’s wise to keep in mind here that you don’t always need to spend more on costly advertising to be effective.

Understanding your target market means that you can use social media tools as well as email as low cost marketing techniques. It’s important to have a quality marketing plan that’s been customized to your company’s individual needs. Don’t forget to include your projected income and expenses too.