Does your company have a marketing plan and
do you know where it is? If your marketing plan is sitting
on a shelf, if you aren’t getting the new business results
you want, or if you have a plan and don’t know what to
do with it – read on. A well-developed marketing plan
can help the “good times roll” in these not-so-good
times.
What a Marketing Plan Is
A well-defined marketing plan is your company’s road
map to results. It will guide you from your current situation
to your target destination. It should be a document that is
used and revised as needed (no one says you have to live and
die by what you decide to do today). You can develop an effective
marketing plan by following a tried-and-true series of steps.
What a Marketing Plan Is Not
A marketing plan isn’t some fancy, intelligently written
(although it should be clearly communicated) 100-page document
that “wows” people. It isn’t a document that
will take months to create, and isn’t going to take the
latest and greatest desktop publishing software to create.
A marketing plan that works isn’t something that only
the marketing director or VP understands.
Where are you now?
- Define who you are as a company.
- What is your company’s business philosophy or approach
to business?
- What are your company’s competitive strengths and
weaknesses?
- What differentiates you from your competitors? Knowing
your key differentiators is integral to developing your marketing
message.
Use these guidelines to write several paragraphs that summarize
where your business is now. Be sure to determine if this is how “outsiders” see
your company. Ask a few vendors, customers or business referral
sources to give objective feedback on your company’s reputation.
It’s important to know if you think you are the “tiger” of
your industry and your target market sees you as a “sheep.”
Where do you want to go?
- What do you want to accomplish?
(Increase new lines of business?
Expand existing business? Both?)
- Do you have name recognition in your market? If not, do
you want to build that?
- Do you know to whom you want to market? Do you want to
target a new market?
As Microsoft says, “Where do you want to go today?” A
fun part of the marketing plan process is opening your mind to
limitless possibilities. Working in your business instead
of on your business works well for tunnel vision – not
marketing. Thinking about the future will get you back in touch
with what you “dreamed” your company could be many
years ago. Or, it may open up new dreams. As you proceed through
this phase of plan development, outline your goals and be very
specific. To hit a target, you need to know exactly what you
are aiming at. It’s nice to say you want to be the most
well-known company in your city, but a more specific goal could
be for you to be the most well-known company to your target market
and increase sales by x percent in the coming year. And while
you should dream big, it’s good to be realistic – the
best marketing plan in the world won’t double new business
in one year. Finally, once you have your goals on paper, it’s
time to prioritize them. Put them in order starting with those
with the greatest importance.
Research, Research, Research
Research may not be your cup o’ tea, but it’s
critical to the success of your marketing plan. Once you have
your targets on paper, you can focus your research to find
out if another company is already the market leader in that
arena, or test your company differentiation against other local
offerings. You may decide that you would rather tackle another
area in which competitors don’t already have such a strong
foothold.
You also need to understand your target. What do they want?
What do they value? A good place to start is American Demographics
Magazine (www.americandemographics.com). The magazine’s
Web site offers articles on various consumer and business market
segments. Associations and publications catering to your target
market can be useful, too. Web sites for those sources also
are readily available. It never hurts to enlist the assistance
of a pro. Often, the investment more than pays for itself in
time savings.
Profile your target market with the information you gather.
Include the percentage of people in your town that would fall
into your “target” market. What is your target’s
need for the services you offer? Do they appreciate the services
you offer? Where do they currently go to buy these services?
How easy/difficult will it be to lure them over to your company?
The more specific your profiles are, the more they will help
you hit your target.
Hitting Your Target
This is the most important part of your marketing plan! For
each goal, you need to develop a strategy that incorporates
your key messages and outlines the tactics you need to accomplish
to reach your goal.
There are many tools for you to use to convey your message,
including:
- Newspaper
- TV
- Magazines
- Direct Marketing
- Campaigns
- Newsletters
- Public Relations – events, speaking engagements,
sponsorships
- Business Alliances
For each goal, write your strategy with the key message and the
tactics you will take to realize your goal. Here’s a sample:
Strategy: Position Bob’s Widget Company
as the unique provider of low-priced, high-quality widgets
in Any City, USA.
Key Messages: Bob’s Widget Company
offers low-priced, high-quality widgets and is committed to
serving the citizens of Any City, USA.
Tactics: Propose a story to the local business
journal that shows how Any City, USA’s citizens now have
access to the most affordable widgets in America. Attend trade
shows where you can meet retailers who serve your target market.
If Bob wanted to take his widgets straight to his target market,
he also might consider developing a direct mail campaign.
As you outline each goal, make sure you keep asking yourself, “Why
should I do this?” Also, be realistic. If you don’t
have a lot of money to pour into marketing, it doesn’t
make sense to list tactics that require a large budget. Marketing
doesn’t have to cost a lot of money if you are willing
to invest time and creativity to achieve your objectives.
Once you have all your goals broken down into smaller sub-goals,
set a deadline for each sub-goal and a timeline for the larger
goal. You want your marketing plan to be a win for you – set
practical time deadlines.
Let’s GO!
Guess what? That’s it! You now have your marketing “map,” a
well-developed “to do” list that was researched
and is highly focused to get the results you want. It is based
on facts, not hunches, and it will take you from point A to
point B. More than that, it will continue to move you closer
to meeting your company goals.
As you complete each goal/sub-goal, be sure to document the
results you realized. Use this analysis to tweak and improve
your marketing process. We think you will be amazed at what
you can do in just three months if you take your marketing
effort one goal at a time.
the one80group, LTD Article Source: http://EzineArticles.com/
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