Here’s slide 6 in the business plan pitch deck. After providing an overview of your product / service offering, provide an overview of your marketing strategy. You won’t have time to explain your entire marketing plan here, so you’ll need to be selective. One way to do that is to give an overview of each major component of your plan. Here are a few topics to cover:
- Pricing. What is your pricing strategy? Here are a few examples:
|Penetration pricing||Set prices lower than those of competitors as a way to increase market share.|
|Skim pricing||Set initial prices higher than those of competitors to signal that your quality is better, then drop them later.|
|Freebie pricing||Give away a key component of your product to lock customers into your standard, and then sell them products that fit (give away the razors to sell the blades).|
- Distribution. How will you reach customers? Through your own sales force or through distributors or retailers? In person, by phone or online? Can you take advantage of “channel partners”—intermediaries that have existing relationships with your customers? Can you sell your product to manufacturers, and have them bake it into their own offerings, the way Microsoft does with Dell? Be sure to explain how you will activate these types of relationships. If you want another company’s sales force to sell your product, what kinds of incentives will get them to really push your offerings? If you want another website to promote your product and collect a share of revenue they help generate, how exactly will they get the word out? Make sure that approach is realistic, and ideally that it has been done before with other partners.
- Advertising and promotion. How will you promote the product? Maybe you will buy keywords online, set up booths at specific trade shows, run a local public relations campaign tied to your product launch, or provide in-store tastings. Maybe you will use a pyramid of influence model, where you influence the influencers.
You could also focus this section on a specific type of challenge you expect to face. For example, if building a large subscriber base is a key success factor, focus on the ways you’ll do that. If you will sell through retailers, show which retailers accounts you plan to land over time, and how many stores you’ll be in. If your plan is to offer a range of products and trade buyers up from inexpensive options to more expensive ones, lay out the process you envision.