Vouch Network 1 Page Business Plan
Overview
Vouch Network has a clear business objective which is to develop, produce, promote and distribute marketing web design company products and services. These products and services have been developed over 5 years with a core focus on addressing the key customer problems and associated opportunities.
The Business Objectives
As a key component of our growth strategy, we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be a critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
Vouch Network has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem. We build websites with a turn around of 1-2 days with social media page integration and development. Companies currently create content that is not mobile friendly which causes decreased exposure on online markerting efforts. This is a critical issue for our selected target market of Business Owners and Startups.
The Value Proposition
Vouch Network is uniquely positioned to deliver value to Business Owners and Startups. "Vouch Network will increase company revenue by 30% by increasing your customer online exposure to 50% through online marketing efforts." In order to deliver on this value proposition, we understand that current marketing and web development companies market indirectly to their target clientele which is statistically proven to return a less than 1% return on investment. My 10 years of direct marketing experience has allowed me to develop a proven sales and client acquisition approach that has a closing ratio of 10:1 and a new client acquisition closing conversion percentage of 85%. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the marketing web design company market. We consider our key competitors to be: Wix, Godaddy. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Wix, Godaddy, by providing direct marketing over indirect marketing. We foster relationships with our customers directly, increasing client retention and acquisition.
Key Strategies
Over the next 6 months, our focus will be to acquire new customers through direct marketing efforts. I will generate leads through online ads, posting 10-15 ads per day. Another attempt will come through the use of professional email templates. We will send 25-50 emails per day for 7 days a week with creative design and approach using programs like constant contact and mail chimp. Direct customer acquisition will occur through face to face efforts which will also be a direct focus. We will self-generate 5-10 self-generated leads with walk-in visits marketing to direct businesses. Through online research of how potential clients are using current websites and online marketing we will be able to target customers current use of social media marketing and content management. Additional customer retention efforts will stem from networking events such as BNI (Business Networking International) groups which have a proven track record of accounting for upwards around 30-35% of members annual new business. We will join the local chamber of commerce to foster relationships with representatives and stay up to date with new business initiatives and struggling business programs. We aim to partner with the local business networking forums and programs to ensure a strong network in our communities. This task will be undertaken in the context of our broader strategy to allow for growth over the current 12 months of 100 clients on a minimum plan of $150.00 per month. We are targeting clients entering into a 12 month commitment. Our efforts in 12 months will provide us a frame work for dealing with 100 clients. We plan to grow to 300 clients by the following year by doubling our marketing efforts and expanding into different cities. My plan is to set up virtual mail boxes in different markets to provide addresses in different markets to advertise in those markets. I will hire 2 sales reps at a max salary option of 30k each with commission options of 10% of all initial setup fee payments. I will also hire a second developer to help build the sites for the customers and handle content management. Currently I average 45 minutes to build a single website. A second person trained will allow me to do two sites in a 90 minute time frame. By doubling our efforts in the sales acquisition as well as increasing production of web site development will allow us to double clientele. Marketing in multiple markets with virtual mailboxes will increase outreach and inform more customers. We will be able to double annual gross profit margins from $180k with payments to $360k. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: 100 customer acquisition target. 200 clients in 24 months. 100% renewal rate with first 200 customers.
About this document
Marketing web design company Business Plan
This document was created by Steven Rochester of Vouch Network using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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