Marketing Plan for Paperclip Company - Essay Example

By combining the two measures you will be able to significantly increase your annual profits. Essentially the goal for any business is to increase yearly sales. How do you accomplish this with a product that is already competitively priced? You do this by creating an online presence. Nearly everything is digital these days, why shouldn’t your company be? A business webpage allows users to easily access all the information they are looking for about your products and services.

You can also easily add a cart allowing customers to shop directly from your site. This is where you can compete with your prices by offering discounts for bulk purchases and have specific sections geared for businesses and schools. Another valuable hint about creating an automated system is you can reach a larger community. Rather than only focusing on your specific city, you will be able to reach millions around the globe. You could potentially double your yearly sales by simply having a virtual store.

In today’s ever-growing technology, no business will survive without a functioning website. Paperclips are virtually the most inexpensive and multi-fictional item on the market today. Here’s where we are proposing you expand your target market by offering specialty items. What we mean by this is rather than sticking to the same old plastic and metals. We want you to think of offering paperclips that are made with recycled material. We are in the midst of the green movement. More and more people are becoming concerned with the environment.

When you offer an eco-friendly product you have just launched yourself into a whole new market, opening the doors for all kinds of new customers. There are plenty of companies out there that are only using items made from recycled material; this is not a market you do not want to be involved in. Another market that most people are not thinking about is book stores and libraries. What we want you to think about is combining the multi-use with the recycled. Paperclips make really great page markers.

Think of the potential in offering a paperclip bookmark made from recycled material. This will allow you to expand your cliental base by presenting a unique and versatile object. The most cost-effective way to market your new product and services is through leaflets. You can not only design them yourself but the printing costs are also low. This is the fastest way to reach members of the community to let them know that you have made some changes to your current business. You can also send out special newsletters to eco-friendly companies informing them that you have also gone green and would like to offer them a special discount on their first order.

Promoting your new website and product should be done by networking. This is one of the fastest media sources to date. There are many different ways you can do this as well. Start by joining groups and organizations that are involved in the green movement. This gives you an open spotlight to talk about paper clips made from recycled materials as well as your eco-friendly bookmarks. Execute some cross advertising with your local bookstore and library. The bookstore, offers to set up a display with a certain number of their books and they do the same with your bookmarks.

For the library, you cannot keep their books, but you can advertise for them within your store as an affiliate. In turn, the library can have a small display of your special paperclips for sale. The more actively involved you become within your community the better chances you have at promoting your products. There are multiple online directories spread out across the internet in which you can add your webpage. The more visible your business is the higher traffic you will get to your website. Most businesses that you will be targeting will already have an online presence, as part of your service you can also add cross-website marketing.

This will accomplish two things, create a good relationship between you and your existing customers as well as create a whole new client base. By implementing our marketing plan into your business we estimate that you could see an annual increase in sales of approximately 45% just in the first year of execution. This is based on the assumption that you would have sold for $30,000 dollars last year and an estimated increase to $45,000 dollars this year. We also expect that this number will continue to climb throughout the following years. Our strategy will not only help you to expand your consumer foundation but teach you how to leave room for your business to grow.