Search This Blog

Monday, August 15, 2011

Be Proactive: Marketing Planning for Bottom Line Results

The premise of business is identifying the people most likely to hire you for your work or buy your products and develop a “relationship” with them to demonstrate why your services/products are a better solution for them over competitors.  The end result is a win-win situation for your business and your clientele.

Marketing is an important activity that helps businesses “sell” products/ services.  A marketing plan prepares your business to be proactive in what the market does. Without one, you end up reacting to changes and to competition, which means you are always a step behind those who are already prepared. A marketing plan is crucial to being ready to deal with the changes in your competitive landscape.  A marketing plan helps you stay competitive and focused.

Marketing Planning = Efficient Time Allocation and Increased Revenue Potential

Marketing planning is important to all size businesses.  Business generation efforts have greater potential for success when there is a plan in place.  A plan helps you evaluate and track ROI and effectiveness of strategies to help meet a business’ growth and financial objectives.  For long-term success, marketing planning should be focused at the types of clients you want to have and tie them into growth objectives of the firm.
Building a plan takes time, but has instrumental value when implemented.  Elements to evaluate when starting your marketing plan include:
·         Situational Analysis of company
o   Goals/focus
o   Target Audiences/Market (Who are your customers?  Who do you want to be your customers?)
o   Strengths/Opportunities
o   Threats/Weaknesses
o   Competitive Landscape
·    Marketing Strategy to achieve company goals/objectives (what marketing initiatives will do to help meet the business’ goals)
·    Marketing Tactics (recommendations for multichannel initiatives to drive results)
§  Mass marketing and niche marketing
§  Web
§  Social media
§  Print
§  Sponsorships
§  Events
§  Business Development/targeting initiatives
§  Pricing strategies
§  Advertising/Promotional activity
§  Internal marketing
§  Cross-selling/Up-selling
·         Marketing budget and resources needed to achieve marketing strategy
·         High-level implementation schedule and tracking milestones

Put your marketing plan in a three-ring binder. Refer to it at least quarterly, but better yet monthly. Leave a tab for putting in monthly reports on status; this will allow you to track performance as you follow the plan.
Overall, if you have a good marketing plan in place you will have a business that is in control of itself.

To view sample marketing plans templates visit:

No comments:

Post a Comment