Begin by asking yourself 3 questions: 1.) Do you have a marketing plan from 2012? 2.) Did you follow the plan? 3.) If yes...did it work? Why or why not? Those three questions will help you a lot when planning for 2013.
OK. Let's begin.
Always start with a Situation Summary. A Situation Summary is a one-page summary of your current business landscape and your historical data. This is a place to tell your story (i.e., where you do great, where your opportunities are). What is your financial situation (profit or loss)? Be sure to include industry forecasts and trends so get a “big picture” view.
Next, include a
Competitive Analysis. This should also be one or two pages that
summarize your current competitors. Be sure to include obvious ones and
not-so-obvious ones, like DIY for example. What are your competitors’ marketing
tactics; where are they winning market share; what are their weaknesses? You
want to keep a close eye on your competitors, but DON’T COPY their marketing strategies.
Who
is your Target Market? Every demographic has a different buying
behavior, so it is important to know how and when to talk to them! Include a
one-page detailed summary, but expand into multiple target market segments if
you need to. You may have more than one demographic you are marketing to! To
make this easier, pick one of your PERFECT customers and paint a “picture” of
that person. Tell their story and BOOM! You have your target market demographic
and psychographic (behavior) profile! 
Most
marketing plans have 1-3 Objectives, which are usually revenue
targets. What do you want to accomplish next year in your business? Are they
S.M.A.R.T. Objectives (Specific, Measurable, Attainable, Relevant, Time-bound)?
Here is an example: Increase revenue by 12% from our existing product lines
before December 31, 2013, while maintaining current profit margins of 35%.” Do
you have non-revenue objectives to include (i.e. improving your
reputation)?
How will you
accomplish your objective/s? Next, list Strategies to carry out
through the year. Each objective should have 2-3 strategies to achieve it, i.e.
using the previous sample objective of increasing revenue by 12%
- Increase average unit price
- Increase awareness among potential new customers
- Increase number of transactions per customer
Then, now comes the fun part! What specific mediums are you going to utilize to carry out your strategies? You can have an unlimited number of Tactics per strategy, however your budget needs to be considered! Remember to include timing (or a marketing calendar) in your plan so you can stay on track! Here are a list of my favorite tactics (in no particular order)!
-
Newspaper
-
Television
-
Radio
-
Magazines
-
Sponsorships
-
Public Relations (FREE!)
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Social Media (Kinda FREE!)
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Website
-
Point-of-purchase
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Marketing Collateral
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Networking (Low-cost!)
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Memberships
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Cold-calling (FREE!)
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Strategic Alliances (FREE!)
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E-Newsletters (Low-cost!)
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Seminars and Events
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Trade Shows
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Referral Program
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Direct Mail
Before you start spending money with every sales
person who calls on you, determine a REAL Budget! Every tactic
has a price for execution and be considerate of what your company can AFFORD to invest, incase your marketing
plan fails to give you an impressive ROI (sorry, Charlie…not all marketing works
all the time!) Ask yourself this…Will the amount you set forth achieve your
objective? Do you need to re-think your budget or objectives?
Last,
but definitely MOST IMPORTANT! How will you know if your marketing plan (i.e.
your MONEY!) is working if you don’t Test and Measure it!
Determine what your expectations are for your plan? If you know where you are
starting from (review your situation summary) then you can easily track
improvements in sales from your bookkeeping software. Set up an easy to follow
lead tracking system, conversion rate tracker, etc and test and measure all
year! If you know what is working…do more of it. And, if you know what is NOT
working, you can replace it with something that works better!
There you have
it. Marketing Plan Writing 101. Congratulations! Your diploma will be arriving
soon, and your sales are sure to increase because you have taken the time to
THINK, PLAN and EXECUTE a marketing strategy for your business.
Don’t want to write your own plan? Call me at 515-259-0577 or email me at renee@trioagency.com and I will develop your plan for you!
Until next
time,
Renee Schneider, OwnerTRIO Marketing | Branding | Advertising
15-259-0577 - office
316-644-7029 - cell
renee@trioagency.com
www.facebook.com/trioagency
www.trioagency.blogspot.com
www.trioagency.com
About TRIO Marketing|Branding|AdvertisingTRIO is a full-service marketing communications company providing a wide array of integrated marketing services to meet all of your business and marketing needs. At TRIO, we understand that each client is unique; therefore we provide customized solutions based on your goals and growth objectives. All of our recommendations are made specifically for you and your business.
TRIO Marketing|Branding|Advertising delivers an effective blend of creative talent and strategic thinking, delivering results that increase the bottom line of our client partners. We utilize our network of local experts in the community to execute the campaigns on the basis of design, printing and mailing.
Our Services include:
- Marketing, Branding, Public Relations and Advertising Consulting
- Strategic Annual Marketing Plan Development
- Integrated and Interactive Marketing Services including E-mail and SMS Marketing
- Promotional Products
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- Print Design & Production
- Web Development & Search Engine Optimization
- Direct Mail Services
- One-on-One Business Development/Sales Team Coaching
At TRIO, we work hard to combine marketing talent and technology with outstanding customer service to build long-term partnerships with you and your business. Our strategies are delivered on time and in a cost-effective manner to achieve maximum response and grow your business.
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