What do I need to consider when putting together a marketing plan?

What do I need to consider when putting together a marketing plan?

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Kindly take note that i m planning to develop block of flats about 30 units, 6 per floor – mixture of 1 bedroom and 2 bedroom in Arcadia. My funder for this new development has requested me to provide him with MARKETING PLAN. I’m planning to develop them and hopefully ask a reputable property management to manage them for me. 

What i m requesting from your office, is to assist me with any person`s contact details whom you have futured in the magazine can assist me with a  MARKETING PLAN that I can present to my funder for this planned project that will help me convince the funder to release the funds, attract potential tenants, etc. 

When considering a marketing plan, it is critically important to think about your target market. In my experience, many businesses forget to critically examine the target market that they are trying to reach.

There are many great marketing campaigns that fail because they are not relevant for the intended audience. Remember, the message needs to work with the consumer in mind. What you may find to be a great marketing campaign may not work for the intended target market. If you are unsure, try testing your concept out first. This will give you a good indication if you are on the right track or not.

In your case, you need to think about who will be buying these apartments. Will it be investors that will be renting them out? Or is it perhaps first-time buyers? Whatever the case may be, your marketing options will change depending on the audience that you are targeting.

It is also important to set out a reasonable budget for your marketing efforts. There are many wonderful plans that have never been successful, because they did not have the budget to support them.

 

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Other factors to consider include:

  • Environmental scan – in other words, what the market looks like at the moment. This includes: competitors, legislative factors, available properties, interest rates, rental incomes, building costs and any other factors that would affect the proposed development.
  • Threats and opportunities
  • Marketing objectives – what do you want to achieve with this plan? For example, for the development to become the premier choice of investors in the Pretoria area.
  • Controls – this is to track the effectiveness of your campaign. How exactly are you going to measure the results?

These are just a few of the building blocks to building a successful marketing programme for your business.

 

Leigh-Ann Fowle
Leigh-Ann Fowle is the founder of The Written Word, a marketing and communications agency which focuses on the needs of SMEs. She is passionate about finding innovative solutions to help companies get the results that they are looking for from their marketing efforts. She also runs the Johannesburg chapter of Girl Geek Dinners, a networking group of women in business and technology. For more information, visit: www.thewrittenword.co.za or email info@thewrittenword.co.za