how to develop a simple marketing plan

Simple Marketing Plans

Presented by Harry Goldstein of

East Coast Consulting

Some Marketing Myths. Only the big companies

can afford marketing.... If the product or

service is right the customers will come....

We save on marketing because our product sells itself....

Downturns are a good time to cut marketing budgets....

www.yourvirtualboard.com.au

So what is Marketing?

Marketing is the process of getting potential clients or customers (prospects) interested in your products and / or services.

The key word in this definition is "process" as marketing involves researching, promoting, selling, and distributing your products or services.

Very simply put, marketing is telling people what you do – over and over and over again.


What then would be considered good marketing?

Again – simply telling the “right people” what you do or are able to provide and in such a way that they want your product or service.


Who are these “right people”

The “right people” are my businesses ideal client / customer or target audience. People I know have a NEED for my product or service.

Remember the 80/20 rule who wants / needs what your product or service does?


How do we find them?

What does our perfect prospect looks like.

Be specific! Things like gender, age,

marital status, occupation, income, location, what they like to do etc.

Where will we find these people?

This is to better target our marketing efforts rather than too broad an approach.


Why should they buy anything from you?

What makes you more unique, more valuable, and more visible in the market?

What is your USP (unique selling proposition / point) or edge?

How does your product / service answer a basic need?

How to develop your USP (handout)?


Winning USP Examples.

Example #1 - Package Shipping Industry Pain - I have to get this package delivered quickly! USP - "When it absolutely, positively has to be there overnight."

(Federal Express) Example #2 – Quick Service Food Industry Pain - The kids are starving, but Mum and Dad are too tired to

cook! USP - "Pizza delivered in 30 minutes or it's free." (Dominos

Pizza) Example #3 – Hair Care Industry Pain - People with dandruff. USP – "Healthy, beautiful, dandruff free hair“ (Head &

Shoulders) Example #4 – Medical Profession Pain – Long waiting times to see a doctor, dentist etc. USP - "We guarantee that you will never have to wait more than

15 minutes" or your consultation will be free."


Market Planning

The key to success in marketing is attracting and retaining a growing base of satisfied customers.

Creating and implementing a marketing plan will keep your marketing efforts focused and increase your marketing success.

A marketing plan is just a “to do” list to keep you focused and on track.

Know the purpose of your marketing – is it to; Make an immediate sale? Do a demonstration? Gain an appointment ? Gather email addresses?

What are you trying to accomplish? For Marketing to be effective it

needs to be approached as a 12 month a year job not a one time event


Sales Process

Awareness - Marketing

Interest - information from marketing

Evaluation - does it fulfil a need?

Decision - buy or not to buy?

Purchase - buy

Re-evaluation - how did it meetexpectation?

Repurchase - only if it continues to fulfil aneed and performs to expectation

Sales Cycle


Preparing a simple Marketing Plan Objectives – what do we want

to achieve? Defining our Target Market

Segmentation Analysis of current position

Company Competition

Strategy for each product / service or customer segment Product Pricing Place Promotion

Action Plan or 90 day calendar – handout

Budget – handout Measurement

TARGETMARKET

PRODUCTWhat does the customer wantfrom the product?What features does it have tomeet these needs?How and where will thecustomer use it?What does it look like?What size(s), color(s), shouldit be?What is it to be called?How is it branded?How is it differentiated versusyour competitors?

PRICEWhat is the value of theproduct or service to thebuyer?Are there established pricepoints for products or servicesin this area?Is the customer pricesensitive?What discounts should beoffered to trade customers?How will your price comparewith your competitors?

PLACEWhere do buyers look for yourproduct or service?If they look in a store, whatkind?How can you access the rightdistribution channels?Do you need to use a salesforce?What do you competitors do, andhow can you learn from thatand/or differentiate?

PROMOTIONWhere and when can you get acrossyour marketing messages to yourtarget market?Will you reach your audience byadvertising in the press, or on TV, orradio, or on billboards?When is the best time to promote?How do your competitors do theirpromotions? And how does thatinfluence your choice of promotionalactivity?


Action Plan or 90 day Calender

The Action Plan is to assist in the scheduling, implementation, and follow through of actions described in the plan. Without the discipline to follow the scheduling, implementation, and follow through objectives would not be achieved. It is recommended that an Action Plan be drawn up each quarter (90 days) with goals for the quarter that are specific, measurable, attainable, realistic and timely

Action Plan states what has to be done , when it has to be done and who is responsible for doing it

Actions Jul – Sept Jul Aug

Sept Who

Update email data base for email campaign

1st

email marketing to home owners

15th

Implement pay per click advertising

25th

Direct mail out to prospective builders

10th

Editorial for local press 1st

Add in local press 1st 1st 1st

Stand at expo 10th

Network event at chamber

20th

Joint marketing promotion with aircon. company

15th

Social media?


Budget

Budget is best broken into quarters to take into account the funds available. Marketing Budgets should be part of the annual budget process and updated each year in line with marketing objectives for the year ahead.

Item Completed

Cost Measure

Leaflets for builder mail out

30th July $ 500 Response to offer / increase in referrals

Pay per click advertising (quarterly)

1st Aug $ 800 Increase in web leads / sales

Paid search engine optimisation

30th Aug $ 1,000 First page listing on key word searches

Email marketing

1st July $ 250 Response from regular contact

Stand at local expo

30th Sept $ 2,000 No of leads collected / sales on the stand

Advert in local press

15th Oct $ 600 Number of calls as a direct result

Total $ 4,925


Measurement

“half the money I spend on advertising is wasted; the trouble is I don’t know which half” - John Wanamaker, US department store merchant (1838 – 1922)

Without measurement we won’t know anything about the effectiveness of our marketing spend.

Today with the internet exact stats can be produced to measure effectiveness of different approaches / campaigns.

Measurement is good to know what’s working (do more of) and what’s not (stop doing) and delivers trends for us to work from.

Measure things like Number of leads How many converted to sales Client / customer satisfaction

Source Leads Sales

Email campaign 15 1

Pay per click 50 4

Local advert 12 7

Stand at expo 120 4

Direct mail campaign

22 4


Effective Promotion There really are hundreds of ways to market your business, and different

types of businesses would have different results with similar marketing. The key is effective marketing for your business, or ways to generate more

leads / sales that work for you. There is no one size fits all. Some low cost ways of marketing include;

Cold calling Speaking engagements Social media (Facebook, Linked In) Blogging E newsletters Networking off line Writing articles for local press Alliances with local businesses (cross referrals) Direct mail letters and promotional pieces Educational seminars Hosting events in your office Letter box drops Online directories Print advertising


Marketing Do’s and Don’ts Do: Regularly review your marketing strategies to meet

changing situations. Focus on your customers' wants and needs, not on

what you think you have to offer. Find a niche - small businesses tend to succeed by

offering something that's a bit different. Don't: Waste money on promotional opportunities that

don't fit with your strategies. Neglect building networks to help you promote

your business and build your reputation. Forget to assess the effectiveness of your

strategies. www.yourvirtualboard.com.au

5 Common Marketing Mistakes

Too broad a target market (who you're selling your product or service to).

The wrong target market. Looking for your target market in all the

wrong places. Not a compelling enough message. Not getting in front of your target market

often enough.


Final Words Do your research Have your message right Make sure your message is consistent and

meaningful Have the right tools Create a sales funnel Keep in touch Track, measure and improve


how to develop a simple marketing plan

Business

marketing objectives

marketing budgets

marketing efforts

good marketing

marketing success

marketing myths

simple marketing plans

th joint marketing promotion