I”™m always having marketing brainstorms and rush to put time, effort and money into doing different things, some of which work and some that don”™t pan out so well. I”™m sure there”™s probably a better way to go about it. Got any suggestions?
THOUGHTS OF THE DAY: A marketing plan can give you a structured approach to marketing that can significantly increase your chances for success. Figure out how to come across with your core message and identity. Define where you are and where you want to get to. Describe the unique items. Then dig deeper into the how”™s and why”™s of interacting with prospects and converting them to customers.
Some entrepreneurs, being eager, resourceful optimists are far too willing to jump into marketing with both feet and no plan. Others stay away from marketing altogether, finding it uncomfortable, unfamiliar and overwhelming. Many have been highly disappointed in the past, with limited results for the money and effort expended. Few take an organized approach to marketing that forces them to think through what will lead to long-term success in marketing for their businesses.
Start by answering two key questions:
How do you set your company apart from everyone else who does something similar?
Who might be most interested in that?
Define what makes your company special, from the insiders”™ and the outsiders”™ points of view. Inside means your employees, values and ethics, company mission, processes and systems, products or services, your vendors, everyone and everything you interact with to deliver your goods and services. Outside is the marketplace that is looking for the kind of help your company can provide ”” whether those in the marketplace know it or not.
Address the following to refine your approach:
What makes you so special? Document how your company stands out.
Make sure there”™s a wide-open market with plenty of need, because you”™re not going to come close to selling everyone you contact.
Define desired results. Report on results. Analyze how much further you have to go. Measurement is critical to any successful marketing plan.
Play with changes in price and scope that may alter prospects”™ interest. Look at which offers bring in sticky prospects and customers.
High-value road or bargain-basement approach? No perfect answer here, although many folks will agree that a higher margin beats high volume.
Is your potential customer a beginner, expert or somewhere between the two? Highbrow or low? Formal or informal? Make sure you understand and speak the language of your best customers.
Craft messages that reflect the tone and needs of your company and the marketplace. One of the best ways to develop messages is to ask your best customers how they would best describe what your company has done for them. Keep in mind that great customers, speaking powerfully about their experiences, can help you craft messages that potentially great prospects can recognize. Come up with several that you can test.
Dig into where and how to connect with prospects and what special offers will get their attention. Plan the traditional connection routes: trade shows, billboard, events and media campaign. Document how you will put the internet to work ”” from website and landing pages, SEO (search engine optimization), key words and tracking, to video storytelling and advertising on various sites. Complimentary variety usually works the best.
Build a budget and break that down into a variety of options for reaching targets, keeping in mind that some tactics are costlier than others. Document a capture system that converts interest into inquiries into qualified leads into sales. Track results and compare them to the forecast you created when you started your plan, to find out what”™s working and what still needs work.
LOOKING FOR A GOOD BOOK? Try “The Marketing Plan Handbook” by Alexander Chernev.
Andi Gray is president of Strategy Leaders Inc., StrategyLeaders.com, a business consulting firm that teaches companies how to double revenue and triple profits in repetitive growth cycles. Have a question for AskAndi? Wondering how Strategy Leaders can help your business thrive? Call or email for a free consultation and diagnostics: 877-238-3535, AskAndi@StrategyLeaders.com. Check out our library of business advice articles: AskAndi.com.
