Archive for marketing plan

Creating Your Marketing Plan

marketing planHow to Plan Your Marketing Successfully

Marketing isn’t simple. To do it right, it requires a great deal of planning. Small businesses without massive marketing budgets have to handle this aspect of their business themselves and for many this is no easy task.

This is why businesses create a marketing plan. A marketing plan is a detailed document that includes the data you need to make marketing decisions and set a course of action that you can implement immediately. Drafting a marketing plan takes a great deal of time and work, but here are a few questions to get you started.

Who Is Your Target Market?

If you’re already selling, take a look at your existing customers. Who are they? What do they like about your company’s products? Try to recall any positive feedback you’ve gotten from them. Naturally, if your brand resonates with these individuals, it will resonate with others like them.

If you don’t already have customers, defining your target market may take a bit more work. Look at companies that offer similar products to yours. Who is buying from them? Who could benefit from your products? Try doing some market research to glean some idea of who your target market is.

What Makes Your Products Unique?

There are bound to be other companies out there selling goods similar to yours. So, what makes yours different? Why would someone buy from you and not another company? Remember here that ‘products’ actually means your offering, which includes services as well. The term refers to whatever people buy from you.

If the unique qualities of your products don’t come to mind immediately, some work needs to be done. Do some soul searching and look for the strengths of your products. If, in the end, you find that your product unfortunately resembles basically everything else on the market, how can you change it to make it unique?

What Do You Want Your Marketing to Achieve?

Every business takes for granted that it needs to market, but why? The ‘why’ is critical. You need to identify exactly what you hope to achieve through your marketing because this will guide all of your efforts and help you choose which tactics are most appropriate.

Once you know who your target market is, what’s unique about your product or service, and what you want to get out of your marketing efforts, you’re ready to get started with your marketing plan.

Have you checked out our Million Dollar Marketing Plan Webinar??

Business Planning Essentials

business planning3 Things Your Business Plan Must Have

Businesses of every type need a business plan. Don’t think you can skip by on this important step because you offer a service instead of a physical product. Every business can benefit from a business plan.

First Step, Focus.

      • When you create a business plan you need to focus on the reasons for the business:
    • Who do you want to serve?
    • What do you want to provide?
    • When do you want to start?
    • Where will you set up shop?
    • Why do you want to start such an endeavor?
    • How will you meld all these things together to create a prosperous business?

These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.

Something else to focus on is your big dream. How much money do you want to make over the next 5 years? Do you want to sell multiple products or have several locations? Everyone’s big dream will be different but you should write it down as part of the plan.

Second Step, A Plan.

Think of your business plan as a mountain. Your mission statement is at the base of the mountain while your big dream is at the peak. Everything in between is what you need to plan and these steps should also be incorporated into a business plan.

What products do you want to create? How often do you want to produce a product? How can you implement some passive income or affiliate income into your business? Are there any speaking engagements or online summit opportunities that will expand your reach and your followers? What can you add to your sales funnel for those not yet ready to commit?

Third Step, Action Steps.

This is where your planning steps are broken down into smaller, actionable steps. Instead of just saying I want to write a book, break the process down further. How much time can you dedicate each day to writing? Do you want to self-publish or find a publisher? You’ll need to hire an editor and someone to design the cover. These are actionable steps that can easily be crossed off your to do list once completed.

Don’t be thrown off here. You don’t need to plan 5 years’ worth of action steps at one time. The idea is to plan a year at a time, keeping your focus in mind, so that the action steps become a pathway or a blueprint to your big dreams.

If this seems like a daunting task, join me on my free webinar, Why You Need a Million Dollar Plan for a Million Dollar Business. We will discuss the importance of breaking down your tasks for more effective productivity as well as how to take ACTION, which is imperative to reach any goal.

Hope to see you on August 16, 2017! Save your spot at this link REGISTER HERE

Business Goals First, Marketing Plan After

business goals before your marketing planIdentifying Your Business Goals First, Then Your Marketing Plan….

Before you get into marketing your business and creating your marketing plan, you need to identify your business goals. Although we take for granted that a business’s goal is to increase revenue, that’s not the end of the story and it impacts your marketing plan. There are many other types of goals companies strive to achieve. It is important that you identify your top goals prior to creating a marketing plan.  How do you market if you do not know what you are trying to achieve?  We use a simplified Strategic Planning Process for both marketing plans and strategic plans. 

Product/Service Creation

Some businesses are driven by the desire to offer excellent products or services that make life easier for all of us. Your business goal may be to create the most innovative products/services on the market. This is a wonderful goal because your products or services are at the heart of your business’s success. On the other hand, you might have these in place and that is not part of your current business growth plan.  Both are fine. You just need to be clear.

customer service as part of your marketing planCustomer Service

Your business’s goal may be to serve your customers and help them solve their problems. It may also be to lend help to the community or to strengthen the community of your customers. This is also an excellent choice because good customer service leads to more sales.
Customer Retention

Your goal may be to not only gain new customers and increase revenue, but to keep the customers you have. Businesses do this by creating a community for their customers and by remaining open to their feedback in order to improve their products or services.

Growth and Expansion

Maybe your business’s goal is to grow and expand, eventually moving into new markets and new enterprises. If this is the case, conducting market research to find new areas would be a major part of your overall strategy.  You need to be clear what markets you are entering. This market research will give you insights on how to market to this new area as well.

marketing planEfficiency

A major goal for your company may be to tighten up your processes. This might include challenging your salespeople to reach an ever higher sales ratio or streamlining your shipping in order to reach your customers more quickly. This was the primary goal for one company that we worked with.  The CEO wanted a “well-oiled machine”.  It is a great goal for growing your company as well. When you have clear operations and plans are outlined and in place, then you are ready to bring on new staff, grow and expand.

Changing the World

Some companies have as part of their vision to enable social change. Your goal might be to make the world a better place through the use of your products and services. This is a goal for many companies that produce environmentally-friendly products marketing planor work to streamline their operations so that they’re more ecological. Here at Compass Rose Consulting we achieve this through the work that we do with women entrepreneurs.  By supporting other programs for female entrepreneurs as a give back we continue to expand our impact locally, regionally and globally.

Increasing revenue and profit isn’t the only goal of most businesses. Look at your business currently and ask yourself what other goals you have. This will help you as you plan your marketing.

Learn more about our Marketing Plan Planning Session –>> CLICK HERE

Do You Use Guerrilla Marketing Tactics in Your Marketing Plan?

Guerrilla Marketing Tactics Can Get Attention

Everyone these days are overwhelmed with marketing messages. Everywhere we go both online and off, we get a massive dose of aggressive marketing.  Marketing messages are coming at us from every direction.

How can you cut above all of this noise and get your message to your market?

Marketers have to think out of the box, be bold, creative and strategize new ways to get their marketing message out to masses.  The buzzword ‘guerrilla marketing’ is used to refer to these tactics.

So… What Is Guerrilla Marketing?

Guerilla marketing means marketing that is unconventional. Jay Conrad Levinson, who coined the term, calls it, “The achievement of conventional goals (e.g. profit) using unconventional methods such as investing energy and ideas instead of money.”

It is intended to achieve maximum results for as little cost as possible. This makes it a great alternative for small businesses that are operating on a shoestring budget. A small business can’t pump the advertising dollars a big company has into a massive campaign, so it has to leverage its creativity.

There ARE  Risks With Guerrilla Marketing

This unconventional approach isn’t appropriate for all niches or industries. Part of the point of guerrilla marketing is to ruffle feathers, surprise people, and shake things up. In industries where security is a major issue, such as finance or insurance, it’s not such a good idea. Instead of subverting the paradigm, you could show your company to be untrustworthy.

However, for most businesses in retail, it’s a great way to pique curiosity and get people interested.

A Few Guerrilla Tactics — Let’s Take a Look.

There is no standard for guerrilla marketing since it thrives on creativity. But common methods include creating urban art, turning unused space into art, or making ads that are optical illusions. Some companies set up funny scenarios that are straight out of a hidden camera television show. For example, they might have live people in their window displays.

Other ideas include leaving interesting post-it notes or branded merchandise in public places such as cafes and bars. Humorous or eye-catching stickers can be printed cheaply and put in unexpected places. You can create flyers to hang around town that are in an interesting shape or particularly eye catching. Business cards can be made in wildly creative styles.

Free stuff is often part of guerrilla marketing. The offer of something valuable for free is always an attention grabber. Talk to other businesses and put together a package of free stuff to give away to potential customers.

Finally, a common guerrilla marketing tactic is to throw a party. There’s no promotion involved here. Just invite your customers to come and have a good time, thus building a stronger connection with your business.

The idea is to get media attention, so let people know. An effective strategy to boost your guerrilla marketing is to issue a press release each time you employ one of these tactics.

If you’re going to try guerrilla marketing, remember that the goal is to surprise and engage, not to insult, offend, annoy, or upset people. It should be done in a spirit of fun.

Learn more about our marketing planning workshops –>> CLICK HERE

What are you doing in your company that is a Guerrilla Marketing tactic?  Leave your great strategies below in the comments

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Gorilla Marketing

The term was defined by Jay Conrad Levinson way back in 1984 which gave rise to this new phenomenon although it had been around for quite some time before Levinson’s book. This form of promotion consists of gorilla marketers coming up with innovative and effective slogans and other eye-catching advertisements to pull toward them consumers. Sounds a lot like other forms of marketing? The distinction lies in that in gorilla marketing, uses a lower budget and more imagination rather than spending huge sums of money to attract consumers. Simplicity, therefore, is the key.

It is of course very different from the traditional marketing strategies that the world has known for several years. Gorilla marketing techniques which were first used by smaller organizations and businesses are now used by several large companies and brands to appeal to their consumers. These techniques take all forms, from the usual posters and billboards to street art and graffiti.

With the improvement of technology and media, companies can now engage their consumers in a whole new experience .It is important therefore for businesses to be able to identify the needs of their buyers and effectively cater to these needs. Street giveaways are an excellent way to attract consumers.

The key to effective gorilla marketing is to put up advertisements in least expected places but where the consumer is guaranteed to stop and look. The method of promotion should be one that is highly likely to have an impact on the person, whether by mere words or a simple picture.

Often companies who use gorilla marketing techniques, use in their posters and billboards, images that are in no way connected to the type of goods they sell. This is in order to grab the attention of the prospective buyer. The buyer would then be aware of the brand and curiosity may lead this prospective buyer to learn more about what good the company sells.

Gorilla marketing gets a persons mind working as soon as they see the advertisements and are therefore used not only by businesses but even by various charitable organizations working on various campaigns, to encourage donations and sometimes to merely make their voices heard.

Gorilla marketing has been around for quite some time now but still continues to be a highly effective means of attracting and appealing to consumers and today we can see how important these techniques have become in the world of marketing, with the rise of very creative advertisements being used by so many firms worldwide.