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Is your marketing plan non-existent, ad hoc or outdated? If lack of
time, knowledge or money derailed your attempts to develop a marketing
plan, you can break the cycle with a simple approach.
Write a marketing plan by answering three questions:
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What are the top three customer-related goals?
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What is the single most important thing we must do consistently to achieve each goal?
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What resources are needed to make those three important things happen?
Read
on for more perspective on each question. And check out the example of
a 1-Page Marketing Plan for the fictitious ABC Company.
You
have the ability to influence how your company is perceived within your
target market. And your customers can make the best allies to help
build a distinctive brand identity for your business.
Write Your 1-Page Marketing Plan
1. What are the top three customer-related goals?
Customer-related
goals deserve your highest priority because customers are the
life-blood of your business. Make a list of goals that would allow your
company to attract and keep customers. Increase your chance of success
by focusing on three measurable benchmarks to achieve in the next six
to 12 months.
Customer goals tend to fall into one of the following categories:
2. What is the single most important thing we must do consistently to achieve each goal?
For
each of your goals, identify the critical activity, information or
skill that will make or break your ability to reach your goal. These
critical success factors may involve a one-time effort or an on-going
process.
For
example, a company with a goal to increase referrals from customers
might identify upgrading software to manage its customer database as
the most important thing to do. Another company with the same goal
might decide its critical success factor is simply keeping in touch
with customers on a regular basis.
To
complete this question, also summarize the reason why you identified a
particular factor as the most important. It will be important to
communicate the rationale to others–and to refine those assumptions as
you gain more information and experience as the marketing plan is
implemented.
3. What resources are needed to make those three important things happen?
Money
may be the first thing that comes to mind, but it’s best to identify
your resource needs in terms of staffing, skills, technology,
equipment, raw materials and physical space. Then, decide how much
money you will need to put each resource in place.
For
example, people can fill the need for time, capacity and skills.
Determine if your current staff are available and capable, or if you
will need outside personnel because more manpower (time and capacity)
or new skills are critical.
Establish
a budget or best estimate for each resource that has an associated
cost. Decide if funds will be drawn from operations or if outside
financing is necessary.
Example: 1-Page Marketing Plan for ABC Company
1. What are the top three customer-related goals?
- Get at least 100 inquiries every month from prospects in a 50-mile radius.
- Respond to all inquiries within 3 business days.
- Get repeat orders from at least 10% of past customers.
2. What is the single most important thing we must do consistently to achieve each goal (and why)?
- Attract
at least 200 monthly visitors to our web site. Prospective buyers
primarily search online for information about our category of products
and services. And our experience shows 50% of the prospects that visit
our web site request more information.
- Assemble
information packages and organize our mailing process for faster
turnaround. Prospective buyers value responsiveness and information. We
outperform our competitors in quality of information and
responsiveness, but response time has been inconsistent.
- Remind
past customers about our range of products and services to keep the
company top-of-mind. No proactive effort has been made to promote our
line after the initial sale.
3. What resources are needed to make those three important things happen?
- Marketing
services agency to develop and implement online ad campaign to drive
traffic to our web site. Funds needed to pay agency and pay-per-click
fees for at least six months, then increased profits will cover
marketing expenses.
- Part-time assistant to send out
information packages to prospects and follow up with past customers by
phone and e-mail. Assign current assistant to this role two days a
week.
- Reconfigure office to set up dedicated
workstation with collated marketing materials, packaging and mailing
supplies. Funds needed to print additional inventory of marketing
materials.
- Flexible and affordable financing, like the Business Line of Credit.
No collateral is required and line amounts range from $10,000 to
$100,000.¹ Each month, pay at least the interest on the outstanding
balance. As the principal is repaid, that amount is again available to
borrow. And, the line is automatically reviewed for increases so
available funds can grow as the business grows.
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