The 90 minute Marketing Plan

Presented by Dan Stiel

Stiel Direct LLC(949) 300-8325

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Can you develop a Marketing Plan in 90 minutes?

“If you think you can - or think you can't, you're probably right.”

Henry Ford, Industrialist c. 1863 - 1947

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Today’s Goal: Build your PlanWe’re going to focus

on the Two Parts of an effective Marketing PlanYour Strategic PlanYour Tactical

Implementation Plan

But where do we start?

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A Chicken or Egg Question!What came first?

Your Marketing Plan? - or – Your Marketing Goals?

“Begin with the End in Mind.”  -- Stephen Covey

The 7 Habits of Highly Effective People

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Setting Goals & ObjectivesSet goals & objectives that are:

ReasonableBelievableAchievableMeasured

Set Quantitative and Qualitative goalsJust the Facts, pleaseSoft and Fuzzy feels good, too

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Setting Goals & ObjectivesGoals & Objectives are not the same thing

Strategic plans have goals GOALS = DESIRED RESULTS

Tactical plans have objectives OBJECTIVES = COMPLETION OF TACTICS &

ACTIONS TO GET YOU TO YOUR GOAL

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Goals & ObjectivesGoals might include

$$ Sales per month ## Widgets sold per hour $$ Profit per year Open ## new markets

Objectives might include ## Telemarketing calls made per minute ## New products introduced this year % customers who intend to buy again Begin selling in China by the end of next year

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Every plan must be open to change

“Nothing endures but change.” Heraclitus, Greek Philosopher

c. 535 BC - 475 BC

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Developing your Strategic Marketing Plan

The Six Steps to Strategy

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The “6-Step” Strategic PlanDefine goals, challenges & opportunities

Acquisition = Making new customersActivation = Breathing life into new customers Usage = Increasing your “Share of Wallet”Retention = Keep profitable cash flows Market Development = Create New

Markets/ProductsMarket Insight = Understand change

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1. Acquisition Define who do you want as new customers?

Geography where will your customers come from

Demography what will your customers “look like”

Psychology What will motivate customers to shop with you –

and keep shopping

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2. ActivationGet your customers to use what they bought

Engage your brand How many people will actually “use” the product as

intended?

Fundamental to service industry successWhat are the barriers your customers face in

using the product?New customers at biggest risk

What actions will you take to ensure people “activate” Don’t forget dormant customers

How will you get current customers who’ve stopped “using” to re-activate?

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3. Usage: Increase Wallet ShareSpend more with you - and less with your

competitorsWhat are the barriers to buying more from

you? What will you do to remove those barriers?

Cross-sell What can you cross sell to current customers

What will you do to cross-sellPromote repeat business

Measure future “Intent-to-buy-again” “Intent-to-recommend” What will you do to increase these measures?

Exceed expectationsStiel Direct LLC

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4. RetentionKeep profitable cash flows from slipping

away. Measure and create an action plan to ensure you are:RelevantRememberedCompetitiveDifferentiated

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5. Market DevelopmentDeveloping New Markets

GeographyDemographyPsychology Products

Are you staying with changeIt’s usually better, at least o.k., to be first to-be-

second It’s never o.k. to be second-to-last

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6. Market InsightWho, What, Where, When

Why, How, If, Then, SoDo you understanding

CustomersChanging marketsCompetitorsEconomic forcesNew world ordersChallenges

Research the fundamentals of your products, customers, markets, and their future:TechnologyFinancialMarketplaceCompetitiveFashionistas &

TastemakersResources – financial,

human, physicalStiel Direct LLC

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Summarize Your Plan in WritingDefining goals, challenges and opportunities

AcquisitionActivationUsageRetentionDevelopmentMarket insight

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Part II: Create Your Tactical PlanStrategies to Tactics Tactics to SalesTranslate your strategies

into tactical “To-do’s”Tactics must be:

Effective – must achieve the goals

Efficient – must use resources wisely

Types of Tactics:DevelopmentalCommunicationCreation ImplementationConsummationFinalizing

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Development Tactics Examples Developmental tactics might include:

Product development Opening New Stores & MarketsBuilding a web storeRemodelingVendor sourcing Employee training

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Communication TacticsOld School – still works

New School – the Wild West

In-store merchandising A new logo or signageDirect MarketingWeb OrderingAdvertising

Newspaper On-line Magazine Broadcast Yellow Pages

Social MediaViral MarketingSpecial

Events/CommunityMobi – phones, iPads, et

al.Google

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Communications BasicsWhat do you want your audience to do?Where are they?What do they want from you?

Build your value-propositionTell your storyEngagement. Get noticed! Ask for the sale!Exceed customer expectations!

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A Final Thought…"The person who gets the farthest is generally

the one who is willing to do and dare. The sure-thing boat never gets far from shore."

–Dale Carnegie

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