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Are you ready to grow? SEVEN STEPS
TO AN EFFECTIVE MARKETING PLAN
March, 2009
Linda K. Carlisle, PresidentTHE SMALL BUSINESS MARKETING DEPARTMENT, LLC630.886.3629 – www.the-mktg-dept.com
Are you ready to grow?
PLANNING ALLOWS YOU TO:
– Select the right things to do…and ID some of the wrong things
– Stay focused…make sure all of your marketing activities are designed to accomplish what you’ve set out to do.
– Get refocused when things get crazy…but then finally slow down
– Assess new opportunities – will they really help you get where you want to go?
– Assess how you did at the end of the period
If there is ONE SURE THING you can do to be sure your business moves in the right direction, it is HAVING A PLAN.
WHY PLAN?
Are you ready to grow?
FIRST : LOOK INSIDEKNOW THY SELF
Your plan should document everything you know about:
• your CUSTOMER• your PRODUCTS/SERVICES • and how they meet customer needs
• DO A SELF-ASSESSMENT – called a SWOT ANALYSIS.
Describe your:– STRENGTHS – find ways to protect & leverage these– WEAKNESSES – find ways to fix these– OPPORTUNITIES – go after these!– THREATS – protect yourself & monitor the situation!
WHAT ARE THE ESSENTIALS OF THE PLAN?
Are you ready to grow?
SWOT ANALYSISstrengths weaknesses
opportunities threats
INTERNAL TO YOUR ORGANIZATION
EXTERNAL TO YOUR ORGANIZATION
**What can you do to turn weaknesses and threats into strengths and opportunities?
WHAT ARE THE ESSENTIALS OF THE PLAN?
LEVE
RA
GE
THES
E!
DEF
END
AG
AIN
ST T
HESE
**…
.
Are you ready to grow?
THEN : LOOK OUTSIDEKNOW THY ENEMY…
• conduct a COMPETITIVE ANALYSIS…
• Look at their SERVICES and PROMOTIONAL ACTIVITIES• What do they do…• What do they say?
• Do a SWOT ANALYSIS for them…how can you…?
• Counteract their STRENGTHS• Leverage their WEAKNESSES• Beat them to their OPPORTUNITIES• Monitor how they do against their THREATS
WHAT ARE THE ESSENTIALS OF THE PLAN?
Are you ready to grow?
WHAT ARE THE ESSENTIALS OF THE PLAN?
COMPETITIVE SWOTCOMPETITORS STRENGTHS WEAKNESSES OPPORTUNITIES THREATS
YOUR COMPANY
COMPETITOR A
COMPETITOR B
COMPETITOR C
COMPETITOR D
COMPETITOR E
COMPETITOR F
Etc……
Visit competitive websites. Research where, how, and how much they are advertising. Be clever. Call customer service departments and ask questions.
Are you ready to grow?
USE THIS KNOWLEDGE TO…
– Make STRATEGIC CHANGES to your SERVICE OFFERING or HOW you service your clients
– ADJUST PRICING as needed to remain competitive or to reflect demand
– CHANGE OUTREACH STRATEGIES
– CREATE YOUR MESSAGE – now you know WHAT to say and WHERE to say it (what media will your prospects pay attention to?)
THE MARKETING MIX : Sometimes called “The 4 Ps”
Are you ready to grow?
DEFINITIONS
STP : not just a gas tank additive –it will power-up your business
– Segmentation– Targeting– Positioning
How do they work together?
Are you ready to grow?
BRAND BLUEPRINTPRODUCT DESCRIPTION
Name, category, packaging, price how sold (distribution). What is unique about it (features, benefits)? How does it fit the prospect need?
PROFILE of TARGET PROSPECTS
Who are the people with a need to be filled? The people most likely to buy? Their demographics: gender, ethnicity, age, income, education, location? Their psychographics: beliefs, attitudes, behaviors related to the need? In the case of business-to-business marketing, focus on decision-makers by job function, responsibility, buying habits; but also on their companies by type, size, location and SIC categories.
PERSONALITY
If this product were a person, what human traits would describe it? (e.g. helpful, fun, intelligent, healthy, honest, zany, frugal, strong, caring…)Try to picture the product as a person and describe it with just a few well-chosen words.
REWARD
What positive feelings will customers have from using the product? (e.g. self-confidence, pride, in control, acceptance among peers, smart, sexy, rewarded, self-satisfied, excited.) Put yourself into the user's psyche.
COMPETITION
Who will this product take business away from? Or what behavior will it change?
OBSTACLES TO THE SALE (The problem)
Why might prospects resist buying the product? (e.g. lack of perceived need or priority, loyalty to present brand, skeptical of things new, lack of trust, hesitance to change, high price perception). Begin statement with: Prospects believe that…
MESSAGE OBJECTIVE (The solution)
What message will overcome the obstacle? What action do we want prospects to take? Begin statement with: Convince prospects that…
KEEP YOUR MESSAGES CONSISTENT OVER TIME
Are you ready to grow?
CREATE SMART OBJECTIVES SPECIFIC – what will you do?
MEASUREABLE – how will you measure whether it is done?
ACTIONABLE – is this something you can take specific steps to achieve?
REALISTIC – can you really achieve the specific objective you have set forth?
TIME SPECIFIC – when do you plan to achieve this objective?
CONCRETE OBJECTIVES KEEP US FOCUSED ON THE RIGHT THINGS
Are you ready to grow?
NETWORKINGACTION PLAN SPECIFICALLY DESIGNED TO
ACHIEVE YOUR OBJECTIVES
PUBLIC RELATIONS & ADVERTISING
PERSONAL SELLING & SALES TOOLS
DIRECT MARKETING
INTERNET& WEBINARS
WHAT TO DO….WHAT TO DO….
Are you ready to grow?
MONITOR, MEASURE & MODIFY
• Track your progress.
• Adjust your program as you go.
• DO MORE of what works…
• STOP DOING WHATEVER DOESN’T WORK.
(but figure out why it didn’t…)
REMEMBER: ALWAYS Keep those SMART Objectives in sight!
Are you ready to grow? Take time to EVALUATE how
you’re doing AGAINST PLAN at least once a quarter…
Staying focused on the BIG PICTURE is the single
best thing you can do to accelerate growth.
FINAL WORDS…..
Are you ready to grow? SCHEDULE TIME
TO WORK ON
YOUR BUSINESS –
Most of us get lost
in the process of working
IN our businesses.
FINAL WORDS…..
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