- Are your marketing efforts delivering results?
- Are all your marketing campaigns working together, or are they going in random directions, just hoping for the best?
- Are you using the right mix of social media, SEO, PR, PPC and other components to reach your target audience effectively and regularly?
- Is your marketing budget in line with your overall business growth objectives (and your competitors)?
- Are you keeping up with your competition, or are you slowly falling behind?
Successful business owners understand who represents their good customers, bad customers, and mediocre customers. They know more about their competitors than their competitors know about themselves. They also never stop gathering information that will help them succeed in the marketplace. They use this information to reach new customers, retain existing customers, and grow their overall customer base.
Marketing Planning is More Important than Ever
Mark Twain’s famous line – “The reports of my death have been greatly exaggerated.” – may also apply to the concept of a marketing plan. In reality, every successful business has a detailed, well thought out marketing plan, and many struggling businesses do not.
On the other hand, it is true that even the best marketing plan’s shelf life is much shorter than it was in the past. Globalization, technological obsolesence, and social, political, legal and regulatory changes occur on timescales that were inconceivable in the past. The end result is that every business, even ones in traditionally slow changing sectors such as manufacturing or transportation, has to adapt much faster than before. So the idea of creating a 5 or 10 year marketing plan that only needs minor tweaks every few years, is unworkable. Most businesses require a quarterly review and minor adjustment, with a major review once a year.
Benefits of a Solid Marketing Plan
- Higher marketing ROI — your marketing dollars go much farther
- Increased customer retention — which also leads to lower marketing and sales costs
- Lower management costs — less time spent chasing “new opportunities”, more time spent on sustainable business growth
- Improved business intelligence — you understand your competitors and your customers better, so you make better decisions
- Higher profits — and better positioning within the market as leaders rather than followers
Our marketing planning process consists of 4 stages (or 9 steps):
Accurate, current market research makes a difference. Without it, you risk wasting money and time delivering the wrong products at the wrong price with the wrong message to the wrong customers.
Analysis and Planning
We’ll develop a marketing strategy that differentiates your business from your competitors. We’ll synthesize and analyze findings; differentiate your company from competitors in ways that are meaningful to customers; determine your target markets through data mining; define (or refine) your company’s value proposition; align your organization to close performance gaps, and help your organization deliver the value you promise.
Once the marketing strategy is in place, we’ll develop a detailed tactical plan for executing the strategy. This includes marketing channel selection, customer segmentation, product/service mix, price, promotion, processes, and customer service.
Then, we’ll help you execute by translating your marketing plan into action through all aspects of the marketing mix: Search Engine Marketing (SEM, Direct marketing, Pricing, Advertising and promotions, Public relations initiatives, Sales support materials, and Event planning.
To be successful in the long run, you need to establish metrics in order to track results and continually
refine the approach. These can be as simple as one or two Excel spreadsheets, or as elaborate as a complete executive marketing dashboard.
Our marketing planning process can be tailored to your specific needs. Generally the larger the business, the more involved the marketing plan. But even if your company is small or in the earliest stages of development, we can help you increase revenues and profits.
Contact Us now to set up a free initial consultation!