Mastering Your Envestors Digital Business Plan: Marketing and Sales Strategy

Setting your sights on the Innovator Founder Visa? Securing an endorsement letter is a key step, and to shine, you need to impress one of the three official endorsing bodies such as Envestors. Your journey with Envestors involves two critical stages: the initial registration, where you introduce yourself and your vision, and the business plan phase, the heart of your application. No need to stress, though. We're here to help.

Here are the areas you should focus on:

• Market Research
• Competitive Analysis
• Company Description
• Financials
• Marketing and Sales Strategy

Marketing and Sales Strategy

Finally, Envestors will assess your venture's viability and scalability, focusing on your marketing and sales strategy. A great idea needs a solid strategy to ensure growth and scalability. Do you have one?

Let’s talk about the Customer Acquisition Strategy.

Bad Example

 "We plan to attract customers through online marketing."

Okay. Online marketing makes sense. But what channels are you using, and what impacts you estimate it will have on your venture.

Salmo’s Version

"Our customer acquisition strategy includes a $20,000 initial investment in targeted Facebook and Instagram ad campaigns, aiming to reach 2 million tech-savvy consumers in urban areas. Based on industry benchmarks, we anticipate a conversion rate of 1.5%, resulting in 30,000 new users within the first six months."

This is better because it includes:

• Clear Investment Detail: It specifies the amount of the initial investment ($20,000), giving a clear picture of the financial commitment to the customer acquisition strategy.
• Targeted Approach: By focusing on "targeted Facebook and Instagram ad campaigns" aimed at "2 million tech-savvy consumers in urban areas," the strategy is shown to be focused and tailored to a specific audience, increasing the likelihood of its effectiveness.
• Quantifiable Targets: Mentioning the goal to reach 2 million consumers and anticipating a conversion rate of 1.5% provides tangible targets that make the strategy's ambitions and expected outcomes clear.
• Projected Outcomes: Calculating the expected number of new users (30,000 within the first six months) based on the conversion rate offers a measurable indicator of success, allowing for the assessment of the strategy's effectiveness.
• Benchmarks for Validation: The reference to "industry benchmarks" for the anticipated conversion rate lends credibility to the projections by grounding them in industry-standard expectations.

We know the devil is in the details with a digital business plan. That's where Salmo's endorsing services come in. Let us help you refine your application to ensure your content is polished and poised to secure that crucial 'endorsement letter'!