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Goa Biofuels Marketing Plan

Essay by   •  August 15, 2019  •  Business Plan  •  1,720 Words (7 Pages)  •  28 Views

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Introduction

Goa Biofuels is a company originating from Goa. It was started by an ex student of St. Xaviers College, Mapusa, BBA department.

The company was set up in December 2015. The founder of Goa Biofuels, I, Kedar, recognised the need for cheaper, greener fuel for cars, commercial vehicles and industries.

The mission statement of Goa Biofuels is “To provide efficient, inexpensive, green fuel for all”.

Once the company was set up, we approached many industries to buy our products, biodiesel, on a regular basis. We were successful, but felt that they could tap into a larger market, as our revenues stopped growing.

Hence we decided to tap into the market of private vehicles, and commercial vehicles, such as taxis, trucks and even boats.

For the same purpose, we set up a website, by which customers could order biodiesel in small amounts to fill up in their vehicles, and then a small tanker would go to the location of their car to fill their fuel tanks.

As a BBA graduates, I came up with the following Market Plan for my website.

What is a Marketing Plan?

A marketing plan is a business document outlining your marketing strategy and tactics. It's often focused on a specific period of time (i.e. over the next 12 months) and covers a variety of marketing-related details, such as costs, goals, and action steps.

Market Plan

Why Do I Need a Marketing Plan for My Website?

Just like any other big task, having a plan for accomplishing your goals is critical to success. If you want to be successful with marketing your website, you will need to execute a number of different marketing strategies and marketing tactics. There are too many variables and moving parts to keep everything in your head. A Marketing Plan allows you to get all of your thoughts down on paper. It also allows you to think through your marketing strategies and tactics in advance of executing them. Regardless of whether you have a Marketing Plan or not, there will be things that arise throughout your marketing campaign that you cannot plan for. That said, these unforeseen events can be reduced dramatically if you take time to think through each of your marketing strategies and tactics in advance. A Marketing Plan for your website is a blueprint to a running a successful marketing campaign.

Foundation

1. Choosing a Market

• Market Size:

Approximately 75,000 new cars are registered in goa every year. Out of these, around 20,000 cars are run on diesel fuel. Hence 20,000 prospective customers each year.

Adding to this, there are currently around 1,00,000 old diesel cars.

• Market Saturation:

Currently there are no Biodiesel suppliers in Goa. Direct Competition is 100% Diesel sold at Petrol Pumps around the state.

2. Defining Keywords

With a clearly defined market, we can begin building a keyword list. We’ll use the keyword list primarily for blogging, social media and our main marketing site. Essentially, we want to build a list of words or phrases that are highly relevant to your brand. Ask yourself this: What would someone type into Google to find our startup’s website?

Our keywords would be Biodiesel, Eco-friendly, Inexpensive fuel, Green Fuel.

Three Core Components of a Solid Website Marketing Plan

I have broken our Marketing Plans down to 3 Core Components:

1. Company Goals:

The first step in developing a Marketing Plan is to set goals. This will drive the other two components of your Marketing Plan.

2. Marketing Strategies:

Once you set your company goals, you can begin developing Marketing Strategies that you think will allow you to achieve your company goals.

3. Marketing Tactics:

The third component of your Marketing Plan is to establish Marketing Tactics which align with your Marketing Strategies. Your Marketing Tactics are going to be the campaigns that you will execute in order to achieve your company goals.

Setting Goals for Your Website

Setting company goals allows you to make sure that everyone within the company is on the same page and all working towards the same ends. I usually try to set 4 -6 specific goals every year. Goals need to be tied to specific outcomes.

i. Sign Ups:

500 new sign ups to the website per month.

ii. Conversion Rate:

Keeping a conversion rate of at least 10% which is much higher than most paid websites. This will lead to 50 new paying customers each month

iii. Return Customers:

At least 75% of paying customers should return to the website for another order.

iv. Turnover:

Achieve a revenue of 22.5 lakhs per month, within 1 year of start of website, which would mean approximately 1,500 paying customers per month.

The above goals are all measureable and though not easy, achievable.

Having measurable goals will allow us to come back to our Marketing Plan 3 months, 6 months, 1 year after we launch our marketing campaigns and determine if our marketing tactics are working or not. Once we’ve set our company goals we can now move on to generating our marketing strategies for our website.

Marketing Strategies for Achieving Your Website Goals

Know What Makes You Unique

Knowing our unique selling proposition (USP) and marketing that USP is essential to beating the competition and solidifying our company’s value in the marketplace. Our USP ties in closely with our brand and our content because those are the conduits our USP will be communicated through. And communication is key. Clearly state your USP and do it often, on your

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