Archive for June, 2010
Business To Business Marketing – B2B – All You Need To Know
Business to business means the relation between the two businesses that is a business relation in which the end consumer is not involved. It is more popularly know by its abbreviation B2B. Business to business refers to the relation between more than one business institutes specifically for the marketing. This is in contrast to the other known marketing relations that exist between the business and the end consumer. Prior to the evolving of the term B2B, these kinds of relations between two enterprises are known as industrial goods marketing or capital goods marketing. These terms distinguish it from the business to consumer or B2C type of marketing.
How Does It Differ From B2C Marketing:
There are several major differences between the B2B marketing and B2C marketing. The involvement of so many people in the process of decision making in the case of B2B marketing makes it very complicated. On the contrary, in case of B2C, marketing only one person is responsible for making the final choice and when some special package is offered, involvement of only person facilitates quick buying decisions. Another major difference between the B2B business marketing and B2C type of marketing is that a business makes a buying decision when it needs the thing. On the contrary, the buying decisions of the end consumers are based more on wants.
Growing Competition:
However, there are few similarities also between the B2B marketing and B2C marketing. For both types of marketing, the competition is growing and the resources are reducing. This growing competition is resulting in the loss of market share for most of the small businesses. Along with this, the margins of profit are also going down. This has created a great demand for marketing data for the purpose of business-to-business marketing data, small business marketing research and B2B marketing research.
Importance of B2B Marketing:
To be successful in todays competitive world of business, having a very good product, best available technology and competitive process is not sufficient in itself. They have to focus on business-to-business marketing strategy. This will help them in identifying, locating, quantifying, segmenting and targeting the B2B customers that are really significant for their businesses. Only by adopting this kind of B2B marketing techniques, small business can achieve their set goals.
Eliminate Ineffective Marketing Channels:
marketing, you must concentrate on performance of the different marketing channels. These marketing channels may include a network of resellers, service partners, retailers and distributors. You not only need to develop new channels for marketing but also have to monitor and evaluate their performance on a regular basis. Then you can eliminate the marketing channels that are performing weak and focus on the channels that are producing desirable results.
Alexander Gordon is a writer for http://www.smallbusinessconsulting.com – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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One problem many Internet marketers face is how to advertise their business online at a budget that can afford. For this reason they will turn to article.
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Both the advertiser and the publisher will benefit from the use of banner advertising. This creates a situation that is often seen as more effective marketing because everyone wins. Of course, you should remember that banner ads are …
How Much Time to Spend on Marketing
Find out about how much time to spend on marketing in order to grow your company faster than ever.
Pokemon - Episode 9: The School Of Hard Knocks (2/2)
Johnny Vargas Internet Marketing
When you hear the word “marketing” what comes to mind? More business or wasted money? If your experience with marketing or advertising has been less than positive your cynicism may be well founded. Yet, have you ever noticed a competitor with a mediocre product and a healthy business? The difference is often marketing.
Some say they’ve never done marketing and don’t need to because of good word-
of-mouth. Positive word-of-mouth is great, but not enough if you’re serious about
growing your business. Others do invest in marketing yet treat it as a necessary evil.
The problem with that mindset is that it’s driving with the brakes on. Those people
sabotage their efforts by making poor decisions, taking half-measures and often
resisting anything innovative.
When asked about the “one big key” to marketing success I reply that there’s
nothing more important than a “marketing mindset”. A marketing mindset is an
attitude, a way of thinking, that values and embraces the power of marketing. If you
look at the companies and brands that are most successful — Nike, Microsoft,
Virgin, Trump, Saturn, Kenneth Cole, etc — you’ll find someone at the top with a
marketing mindset. People like Trump, Cole, and Virgin’s Richard Branson may have
it instinctively. For most, however, it’s a learned attribute. So, if you don’t have a
marketing mindset yet, keep reading and start to get one.
Follis Fact #1 You need a Marketing Mindset.
Attracting vs. Chasing
A guy sees a beautiful woman in a bar, tracks down her name and number, calls her
up and says, “Hi, my name is Joe and I’m great in bed.” That’s cold calling. Another
guy sees a beautiful woman in a bar and gives her a napkin that says, “I’m Bill and
I’m great in bed.” That’s direct marketing. A third guy sees a beautiful woman in a
bar, has his ex-girlfriend go up to her and say, “See that cute guy over there? He’s
my ex, his name is Tom, and he’s really great in bed.” That’s PR. Last guy walks into
a bar, a beautiful woman approaches him and says, “Hi, my name is Courtney and I
hear you’re really great in bed.” That’s effective marketing.
Attraction is the essence of marketing. When you create enough desire to get your
prospect to come to you, they’ll always be more predisposed to buying. That bares
repeating. When you create enough desire to get your prospect to come to you,
they’ll always be more predisposed to buying. The challenge, of course, is that your
prospect is elusive prey. So, imagine the first rabbit hunters. They’d exhaust
themselves using spears and rocks until a more evolved Neanderthal got the idea of
using carrots. Or, imagine the girl who desperately wants a date, but can’t
understand why she scares guys away when she chases them. Unfortunately, too
many businesses act like that girl chasing for a date by putting lots into selling and
nothing into marketing.
Follis Fact #2 It’s always better to attract than chase.
Expense vs Investment
Those who don’t understand marketing view it as an expense. Those with a
marketing mindset know it’s an investment. They know that, if done right, it can
excite their prospects and produce a great return. “Done right” means well-
researched, well-managed, and generally handled by someone who knows what
they’re doing. Regarding expense, being a small business is a bad excuse to do
nothing. Start small, but do something. There are plenty of cost-effective, non-
traditional ways to do a test. So, if you want to grow, you can’t afford not to develop
a marketing plan.
Determine your Objective and Budget
Like building a house it starts with a solid foundation. Start with a clear objective.
The more specific you make it, the better you can develop an effective plan to
achieve it. If your company has no marketing director to create a plan, get help. A
marketing plan is critical and it involves the analysis of key market factors such as:
o the nature and traits of your product.
o the exact audience you’re targeting.
o the competitive environment.
o the traits of your industry/category.
o the maturity of your business.
o timing.
Your marketing budget depends upon the analysis of these factors as well as your
short and long term objectives. For some businesses, 5% of annual sales is plenty to
invest. For others, 10% may not be enough. Once the marketing goal is determined
it’s easier to determine the budget needed to achieve it.
Have a Great Product
At the risk of stating the obvious, a big key for marketing success is having a great
product. In his best-selling book, Purple Cow, marketing guru Seth Godin calls it,
“being remarkable.” It’s about having a product or service that’s exceptional.
Though many non-remarkable products may seem to do well because of great
marketing, no long-term success can be achieved without a great product. In fact, if
a product is not great, great marketing will usually make it fail faster. People will
buy it, not like it, and never buy it again.
Case in point: Ever see an exciting teaser for an upcoming movie? It can make a lot
of people run out and buy a ticket. The problem starts a couple of weeks later when
folks see the movie, hate it, and then spread the word. Before you know it, the
movie’s gone. Here’s another case. Remember New Coke? If not, you’re not alone. It
didn’t last long. Despite the marketing muscle that Coke put behind it, the Coke-
drinking public decided they were quite happy with the old Coke. Another case
involves a new tropical hotel. Eager to jump-start his business the owner got tour
directors and travel writers to check it out and hopefully generate some good buzz.
Problem was, the hotel wasn’t finished. Had he waited a couple more months he
would’ve gotten great reviews. Now he’ll be lucky if those tour directors and writers
give him another shot.
If businesses spent less energy trying to sell their product and more on improving
it, they’d have more success in the long run.
Follis Fact #3 Great marketing will make a bad product fail faster.
When product, client, and marketing are all exceptional the results can be a
beautiful thing — even if it doesn’t start off that way.
“Let me get this straight…you want my commercial to start with my competitor’s
tagline?”
That was the company president’s response when I presented the concept. I guess I
couldn’t blame him. Recommending that he put $350,000 behind a TV spot that
began with his main competitor’s tagline may not have seemed like the smartest
idea. Yet, I knew my concept was strong — if I could articulate it. But, before I
continue, let me step back and explain the scenario.
Sorrell Ridge Fruit Spreads was an unknown all-natural “spreadable fruit” product
(ie. jam) that had been selling in health food stores. Now, the tiny brand was ready
to battle the big guys on the grocery shelves of America. The main competitor and
undisputed leader in the category was Smucker’s. Smucker’s had a 30-year history
during which it built one of the strongest, most positive brand images in history.
Their tagline, “With a name like Smucker’s it has to be good”, was famous and
endeared by the American public. What’s more, their ad budget was about 20 times
that of tiny Sorrell Ridge. To say we needed a kick-ass campaign is an
understatement. But Smucker’s was vulnerable. Their preserves were mostly high
fructose corn syrup, refined sugar, and little fruit. Sorrell Ridge, on the other hand,
was all fruit. It was a big competitive difference and the stage was set for a classic
David vs. Goliath battle. So, back to our meeting…
“You want my commercial to start with my competitor’s tagline?”
“The idea here isn’t to promote Smucker’s tagline, it’s to dismantle it,” I replied
passionately. The president’s eyebrows raised. I then walked him through the simple
30-second TV spot which opened with the Smucker’s tagline filling the screen…
With a name like Smucker’s it has to be good.
The announcer began: “For 30 years Smucker’s has been telling us they have to be
good. But in fact, Smucker’s Preserves is mostly corn syrup, refined sugar, and only
some fruit.” At the mention of each ingredient a pair of hands popped up from the
bottom of the TV screen and patched over the last line of type, “it has to be good,”
with a succession of modifications starting with “it’s probably good”, to “it might be
good,” and finally, “is it really so good?” We then cut to the Sorrell Ridge jar as the
announcer explained that “Sorrell Ridge is 100% fruit.” The final stake in the heart
was our tagline which played directly off Smucker’s:
Sorrell Ridge. With 100% fruit, it has to be better.
Holding my breath, I glance over at the Sorrell Ridge president who now looked like
a kid on Christmas morning. I then presented a “50 cents off” coupon ad with side-
by-side visuals of each jar positioned under their respective tagline. Like the TV, it
was simple, but compelling, and he loved it. But now came the legal questions.
Could we even do it? After some nail-biting delays, and a few minor copy changes,
the lawyers gave us the green light. But not without stern warnings that there was
no guarantee that Smucker’s wouldn’t sue. To the president’s credit, he pulled the
trigger on the campaign and we held our breath.
We didn’t have to hold it long. Sales spiked and within the month were up a full 90%.
Our thrilled client immediately doubled his media spending by scraping together
every dime he could muster. When the dust finally settled 12 months later, Sorrell
Ridge had a 50% national increase while sales for the entire jams category increased
only 3.5%. The Harvard Business Review wrote it up as a case study and Forbes
wrote it up as a 2-page feature. My partner and I got covered in a dozen trade
publications and appeared live on CNBC. And, despite all our legal fears, Smucker’s
never did take action. Everything we said was true and obviously Smucker’s knew it.
Though they probably could’ve tied us up in court, the last thing they needed was
more press. We simply had a better product and we got the message across in an
exciting way.
Follis Fact #4 The better your product, the better your marketing can be.
© 2005 John Follis. All rights reserved.
John Follis is one of the 12 “Best Advertising Minds of New York” as voted by The New York Ad Club. His campaigns are in 3 college textbooks, he has written for ADWEEK, and he has taught at 3 New York universities. Currently, John works on select projects, consults, and speaks. He may be reached at john@follisinc.com
For John’s booklet: How to Attract and Excite Your Prospects: A Guide for Getting the Best Marketing Results, visit: http://www.follisinc.com/booklet.htm
For consulting info, visit: Marketing Therapy: http://www.follisinc.com/therapy.htm
For speaking info, visit: Follis Speaking: http://www.follisinc.com/speaking.htm
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Best Affiliate Marketing Software | Internet Marketing Review 101
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Marketing Tip – The Top 6 Biggest Marketing Mistakes
When I started to write this article on the biggest mistake almost every marketer makes I was going to focus on THE BIGGEST single mistake, but there are several. And, an even bigger aha moment is that most companies that “call themselves” professional marketing companies make the mistakes as bad, if not worse, than the non-professionals trying to build their own business.`
Mistake #1 – Assuming that Marketing Results are Vague, Black Magic, and Not Predictable Marketing tip –Marketing done correctly will provide consistent, predictable results
As a guideline, the national average for direct mail marketing is 0.5% to 1.0%, meaning that if you send out 1,000 letters, postcards, flyers, etc. And IF you are even average, then you should have between 5 and 10 people contacting you.
Although that is considered average, doing some simple things can take that number up to 10%-30%, or even higher.
Mistake #2 – Trying Marketing One Time and Giving Up….Because That Didn’t Work. Marketing Tip –Marketing Results, or Leads are one of the critical results of a business that are ABSOLUTELY necessary.
In other words you can’t survive without delivering the number of leads needed to survive, nor will you ever super succeed without delivering the exact number of leads needed for that level either. Therefore, when someone tells me that they
- Tried marketing once
- Tried direct mail once
- Tried a newspaper ad once
- Or any other approach in marketing
and walked away because it didn’t work (that’s their opinion, not a reality) then I’m looking at a company that will fail soon, or at least not far down the road. Some move on to things that cost less in dollars and cents, but cost more in time, and the results delivered is almost nil. Delivering consistent marketing results, and in the right amount is not a choice. Do it or close your doors! Marketing Tip — Marketing results, or leads, are dependent on two things
- How many people see our marketing materials
- The percentage of those that see our materials who actually are COMPELLED to give us a call, signup, or touch base with us in some way.
It looks like this: If I need 10 people to call me this week, and if I know that for every person who sees my marketing 1% will call me then I only have to touch 1,000 people with my marketing. Now does that sound hard? Of course it isn’t…if you are reaching out to over 1,000 people every week. (# exposed to marketing materials) X (response rate) = # leads .
The problem is that in the hundreds of seminars I’ve done, most people miss that point totally. They report that they sent out 100 letters and only got 1 reply, so, in their opinion, it didn’t work because they didn’t get the 10 they needed. They missed the whole concept.
Mistake #3 – Not knowing your response rate Marketing Tip – Always know your marketing response rate, or be finding it.
So, when you send out marketing and have no clue of what your response rate is, then how in the world do you know how much to send?
Well, I’d send out enough to hit the 0.5% as a test market, and then measure the actual results coming back to be used in the next mailer.
Mistake #4 – Not knowing when your marketing isn’t working?
Mistake #4A – Not sending out marketing because it is perceived that it “costs too much.”
Mistake #4B – Not knowing what it requires to acquire a customer? These are sort of one in the same mistakes -
- Not knowing when your marketing isn’t working, and
- How to measure when it does work.
- And the answer to both is “what does it cost to acquire a client.”
How would you define “not working?” There is only one time when your marketing could be defined as “not working” and that is when it costs too much to acquire a customer. Notice, I didn’t say what marketing cost. I said what it costs to acquire a customer. Most decisions to not send marketing this month are based on “fear of spending money” when the decision should be made on “for every dollar spent on marketing it will generate X times more dollars” and then we MUST know what X is. If X is larger than an acceptable figure we move forward no matter what the cost because it will always generate more money than we put in. Let’s look at it this way, if you could generate 15% every year in the stock market would you do it? Of course….most would anyway. I wouldn’t because I believe that for every dollar put into my business I see 10-100 times come out and so I’m always looking for where to invest my money for the greatest return. And if you start managing your business that way instead of where to “avoid spending” you’ll find the answer and see similar results. So what does it cost you to acquire a client?
That usually is a result of not knowing what it costs to acquire a lead or acquire a customer, or what the response rate is for your marketing.
Let’s say that a mailer costs you $0.35 (for a postcard, printed and mailed, using http://www.usps.com/ ). If you send 1,000 pieces, that is $350, and if you get 1%, or 10 calls, that lead cost you only $35.00 each….right? Not bad if you ask me.
Now that is a lead, not a sale. So, let’s say that you close 40-50% of your sales, which I also consider a reasonable figure. That means that it costs you $70.00 to acquire a customer. If that is a reasonable figure for you, then your statement of “I can’t afford to send marketing this month” is nothing but a ‘business killer.” It really should be changed to “how many customers do I want to buy this month” and then adjust the number of letters going out to deliver that result.
If your sale is small enough that $70 will not work, then we’ve got to work on that we can. The point is you can’t afford to not make this work. We just have to find the results that will work for you.
Marketing tip – Have a clear cost to acquire a customer, and knowing what is acceptable.
Mistake #5 – Marketing that talks about you, your product, your features. Most companies look at marketing as a black hole, or black magic that they have no control over. That is only their perception….in which case they’ve made it reality….at least for them.
You are going to get a golden niblet here. This is a huge mistake that businesses make, and this is the one that relegates them to the “less than nothing” response rates in their marketing. Learn that this isn’t about you, it isn’t about your product, it isn’t about the features of your product, or even what you do….it is only about one thing….”what your prospect wants and needs, or a solution to his greatest problem.”
I know….I know…I hear the grumbling now….You say your product does all of that. The customer doesn’t know that, so don’t open your marketing with anything about you, your product, your features, or what you do. The first thing at the very top of your marketing should
Get Your Prospect’s Attention by making a value statement about what kind of results the prospect could get, or will get, or you will guarantee that he will get, or that a previous customer has gotten. Make it in dollars and cents.
Your response rate will jump up to over 5% to 10%. If you’ve been getting 0.5% to 1.0% (the national average) then this is a 10 to 20 times increase in the number of people walking through your door for a relatively simple change. If you’ve not even been hitting the 0.5% area, then it is how much bigger than where you are now….pretty darned big. I’ve seen customers increase their business results by over 10 times in a week by getting this right.
Marketing Tip-Marketing is ALWAYS about the customer, his wants and needs, and his pain or solution. Not about you, your product, features, or what you do.
Mistake #6 – Hiring a Professional Marketing Company That Won’t or Can’t Define Their Measurable Results When you hire anyone for anything, always ask for measurable results as a guideline. If you noticed in mistake #5 above, I suggested that you state your value in dollars and cents to the customer. After all, he will ultimately make a decision on hiring you or someone else based on the value you bring to the table. When you allow the customer to figure out what you are worth it isn’t likely to be anything near what you are actually worth. So, why shouldn’t you expect your marketing provider to provide you the measurements you need to make your decision?
Also, when a vendor is aware that that is what they are responsible for delivering they will also start managing it for better and better results. It just seems to happen that way.
So, IF you decide to hire out your marketing then ask one key question:
What measurable results do you, as my professional marketing company, typically deliver?
It should be a response rate, in other words a statement like “approximately 1% to 5% of the marketing sent out should call you” or what other action you want. And keep in mind that 1% is considered average and for a really good marketing company it should be a LOT higher.
Now, here comes the surprise, and something that will save you a LOT of money.
If they won’t give you a number…and MOST won’t…..what do you think that means?
- They don’t know – which means that that wasn’t on their radar screen, that isn’t something they are managing, and that WAS the reason you wanted to hire them…right? People manage what is important to them. They are managing their sales numbers, not the results they provide for you….get the idea?
- They don’t want you to know what their results are -no further comments needed here?
Most will sidestep the question by stating things like:
- Everyone is different…therefore, I can’t answer that.
- You are different….so we’ll have to find what works for you.
All are avoiding the real question….”What has been typical for their clients before?” You are buying results, so don’t get sucked into “beautiful graphics” or “fantastic copy” or “our clients are …..and …..”. when in reality, the only thing that counts are the results they have provided, the number of clients, response rates, dollars paid for dollars generated by their marketing. Do NOT allow them to take you away from measurable RESULTS…anything else is just activity that may or may not be delivering any results. They state results or walk. Marketing Tip – When you hire marketing companies they WILL state measurable results that can be backed up by talking to their customers or you WALK.
Alan Boyer, Small Business Coach helps businesses to find the opportunities to multiply their business in weeks. In many cases, marketing results go up 5-10 times, sales results go up 50% to 400%, and just getting your hands around the overall business can multiply overall results several times.
Find out how to Supersize Every Experience and Have Prospects CHASING you. Go to http://www.leaders-perspective.com/small-business-help.aspx to sign up for our weekly newsletter that multiplies businesses….FAST.
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iAd will in effect be an integrated advertising solution since the iPhone user will be offered adverts inside the application itself.
Summer.wmv
Why Does Your Business Need a Good Marketing Plan?
A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It is meant to be a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces. It should be a key component of a business plan and is essential to planning the overall direction that you want your business to take. A marketing plan is not something that you write and then forget. It needs to be followed, monitored and updated. You want to regularly evaluate a your plan to make sure you are reaching the goals you set.
Marketing plan objectives are typically on the level of sales, profit, return on investment or, for larger businesses, market share. Marketing is a function of business and has many dimensions, including market research, customer service, advertising, targeting, packaging, pricing, e-marketing, and others. Marketing plans, even those created within a small company, can vary in scope, format, length, and level of detail they do however typically include similar types of information.
Developing a good marketing plan is essential to the success of any business because you need to get everyone focused on the same issues and that’s what your plan should do. You need to customize your plan to suit your business and its objectives. It needs to be simple and to the point. In it you want to state your marketing objectives and do so in a way that your goals are very clear for everyone that might be involved with accomplishing the plan itself. Your marketing strategy needs to be clearly defined. It’s your plan of action for achieving each of your goals.
Marketing Actions are the tactics you plan to use to give your plan a life of its own. Developing a solid marketing strategy is the foundation of a well-written marketing plan and must be carefully considered before committing to it.
While a marketing plan contains a list of actions, If it does not have a sound strategic foundation it is of little use. The objectives in your marketing plan need to state just where the company intends to be; at some specific time in the future. The marketing objectives must usually be based, above all, on the organization’s financial objectives. If the marketing plan is to work, every exception to it must be questioned. Before you deviate from your plan you need to ask why you should do so. During the course of the year the lessons learned need to be documented so that they can be incorporated into the next year’s plan.
A marketing plan for a small business typically includes descriptions of direct competitors that are marketing similar products. What the level of demand for the product or service is. A description of the product or service, including special features. What your marketing budget is, including the advertising and promotional plan. A description of the business location, including the advantages and disadvantages of your location. And what your pricing strategy is going to be. A marketing plan is, after all, a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces.
This kind of balanced view is important to show risks are being recognized. Like a business plan, a marketing plan is an essential guide. Some business owners don’t understand the value of a good plan. Every start-up venture and existing business needs a business plan, yet many entrepreneurs don’t realize a marketing plan is equally vital to your business success. A marketing plan is required if you want your business to become a household name. It plan provides structure to the marketing efforts of your business.
Cash Miller is the owner of SmallBusinessDelivered.com and is an experienced speaker on the subject of small business and a dedicated entrepreneur. http://SmallBusinessDelivered.com is a resource website that small businesses and aspiring entrepreneurs can use to help them succeed and their businesses to grow.
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Education vs Sales-Based Marketing
The marketing paradigm that can literally make or break your coaching business…
What’s the single most important process determining whether or not your coaching business is successful?
The correct answer to this question can completely change your coaching business forever. It can change your perception of your business. It can change your focus in your business. It can change how you go about operating your business. And most importantly, it can determine the success or otherwise of your business.
We asked dozens of coaches this question and got a broad array of responses. But only 4% of them were even close to the mark! Most coaches answered: quality service; number of clients; pricing; branding; advertising copy.
…And whilst all these issues are critical, the single most important process is your marketing methodology. Whilst you must have all the other elements as well, it’s your marketing methodology that ultimately determines the success or otherwise of your business.
Let us explain…
Nearly all coaches use a marketing methodology that’s a sales-based marketing methodology. This is understandable as most traditional marketing methods teach sales-based marketing methods. We’re all impacted by sales-based marketing at every turn – on TV, newspapers, magazines, billboards, radio – everywhere. And when coaches research marketing methods, they are most likely to learn about traditional sales-based marketing methodologies – print ads (in newspapers, yellow pages, journals, magazines etc), direct telephone calls, radio, flyers, direct mail letters, etc.
But there are several extremely powerful forces at play against coaches employing a sales-based marketing methodology…
Most coaches invariably feel uncomfortable delivering a ’sales pitch.’ Coaches generally have better technical skills than marketing skills. They’re therefore uncomfortable talking about themselves and endorsing the quality of their product. This means they don’t close, and comes across to prospects as a general lack of confidence in themselves, and their product and service.
Sales marketing is extremely expensive – narrowing your net margin on your service. The more you spend to get a client the less net profit you’ll retain at the end.
Generally people are very skeptical and defensive against sales approaches. This exponentially increases the barrier of making a sale. When you employ a sales-based marketing method, most prospects have already closed themselves off to learning about your services due to their natural tendency to put up a defence against sales-based marketing.
There is no trust and rapport built through a sales-based marketing approach. For a prospect to buy from you, there needs to be an element of trust. Your prospect needs to trust that you can deliver on your promises and that they’ll gain a positive return on their investment. This level of trust is extremely difficult to build through a sales-based marketing approach.
You build no reciprocal obligation on the prospect to investigate your offer or purchase from you. It’s a natural human tendency to reciprocate in kind what’s been given to you. You can not build reciprocal obligation through sales-based marketing.
You attract price sensitive shoppers and ‘tyre kickers’ that take up a lot of your time and result in extremely low conversion.
It’s difficult to maintain contact with prospects for long enough to build rapport and trust – it generally takes 4 to 6 contacts before a prospect will buy from you.
So, we can hear you shouting “If sales-based marketing is not going to be effective, what’s my alternative to get clients?”
And the answer is… Education-based Marketing. Education-based marketing is simply the process by which you attract and convert highly-qualified clients by giving them what they want – valuable information and advice that solves their problems – and removing what they don’t want, a sales pitch.
Education-based marketing is generally undertaken by delivering Credibility Marketing techniques such as public speaking, information based teleclasses, publications, networking, hotlines, free educational give aways (such as reports, assessments, tools, ecourses), etc.
As opposed to sales-based marketing, education-based marketing means…
- You give your prospect what they really want – highly valuable information. And you take away what they don’t want – a sales pitch.
- You maintain your dignity and feel good about yourself as you never make an effort to sell.
- Your brand recognition and respect will skyrocket! Education-based marketing is the ultimate brand builder. By positioning yourself as the ‘expert’ or ’specialist’ by solving, through your education products, the most pressing issues your niche confronts. You become the only logical choice in your market.
- You can establish yourself as a credible authority as prospects depend on you as a reliable source of valuable advice.
- You significantly reduce your marketing costs – and can in fact get paid to market yourself. This vastly compounds the net worth of every client you attract – you can actually earn double the net profit with only half the clients!
- You don’t have to seek out new prospects – prospects come to you (to have their problems solved).
- You can maintain (mutually beneficial) contact with your prospects through the sales process because they don’t feel pressured by a sales pitch and value your information and advice.
- You reach prospects early during the first stages of their decision making process.
- You attract ‘moderately interested’ prospects that may otherwise be afraid to call you but are not afraid to request your information.
- Due to the high level of trust and rapport built early on you’ll be perceived as an adviser, not a salesperson, making added-value sales dramatically easier.
- You dramatically increase your referrals from prospects as they feel loyal to you – due to a relationship built on trust and reciprocal obligation and your efforts to help them – even if they don’t hire you! And your referrals will come much earlier in your relationship.
- You gain compounded advantage as your information is passed freely between prospects within your niche.
- You gain a competitive advantage because not many competitors are using education-based marketing.
- You achieve a highly leveraged advantage as you can put forward your marketing even when you are not present.
- You save valuable time as you often are delivering your message directly to your most highly qualified target audience.
As you can see, education-based marketing is the exact opposite to sales-based marketing, and can make an extraordinary difference to your business, and your enjoyment of ‘doing’ business. So, ask yourself, “How much education-based marketing am I currently doing?” and “How can I develop a marketing plan significantly comprised of education-based marketing methodologies?”
Simon Clarke has over 15 years of experience as a writer, entrepreneur and business specialist. He is also the founder and Director of the Life Coaching Institute, Australia’s leading coach training organization.
Coach IQ: for Intelligent coaches. [http://www.coachingclub.com.au]
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a. Marketing success begins with your attitude or your state of mind towards the marketing process. If you think that marketing is difficult and burdensome, that’s exactly how it will be to you.
See marketing as a fun thing to do. Believe that your marketing WILL bring you lots of customers. Decide to enjoy the process (you have to do it anyway, so you might as well enjoy it),then go on and have a ball while you’re at it!
Remember, by marketing your products and services, you are making people aware of something that could be useful for them. Think of it that way – it may help you stop thinking about how uncomfortable you feel about it.
To do: Check yourself to see how you feel about marketing. If you feel negatively about it, change the thoughts behind the negative feelings into positive thoughts. Write down the positive thoughts and look at your list every day, at least twice a day.
Focus on solving the needs of others through your products or services. Doing so takes the pressure and anxiety off you and helps you enjoy the process.
b. Marketing is something you’ll be doing for the rest of your life as a business owner.
As long as you own a business, you’ll need to market it. No marketing means no sales. No sales, no business. Even when things are going great, you need to market. That way you’ll be safe when things would otherwise be slow-going.
To do: Get the idea of a ‘marketing break’ out of your head! There is no such thing (unless you decide to stop running your business).
Begin to actively seek out marketing information to help you become good at it.
Here’s a paradigm shift for you: the business you’re really in is the business of marketing – not the business of Coaching/ Consulting or selling some widget or other.
Become a master marketer and you will always be in business.
c. One of the most important things to remember about marketing strategies is that you need to be consistent in order to see results.
Don’t think you can market once in a blue moon and have customers rushing to your door. No matter how great your product or service is, you must market it consistently. Be proactive about it. Go out and get the word out about your business.
Consistently.
Consistent marketing ALWAYS pays off. Sometimes not immediately, but definitely pays off eventually. Lousy marketing done consistently brings better results than excellent marketing done sporadically.
To do: Spend some time each day or week doing something (proactive) to market your business (eg giving out 5 business cards each day, or writing and submitting articles, or attending weekly networking meetings).
d. Find only a few marketing strategies that you enjoy doing, which you’ve proven to work, and stick to them.
There are so many ways to market your business but you don’t need to use all of them! Try various methods, by all means, but stick to just 2 or 3. Remember you do have a business to run, and you want to have time to run it properly.
Important as marketing is, you don’t want to spend all your time doing it to the exclusion of other aspects of your business.
To do: Find a few strategies you enjoy doing, and do them consistently.
e. Be clear about your marketing message.
If you’re not clear about it then neither will your potential customers be. This is especially true for service business owners. If you’re not clear about your message, you won’t know where to look for prospects.
You need to know (at least) what exactly you do, who you provide it for and what problems you solve.
To do: Craft a 60-second marketing message that clearly describes what you do, and who you do it for. Make it easy enough for a 12 year old to understand you.
Have a written version and a spoken version.
Begin to test out the spoken version on as many people as will listen to you. Tweak it until it feels just right. Then stick to that ‘just-right’ version.
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Dr Kem Thompson is a Success Coach, Speaker, Author. She can help you achieve better results at work, business, play, spiritual or in your social life. For resources you can use today to create a better life, sign up for her FREE ezine (and get a thank-you gift)- ‘Days of Success’ by submitting the form at http://www.successeminars.com/
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Have you asked a Marketing Agency to quote you for drawing up a Marketing Plan recently? If, like me, you own a small business, then it is hard to justify spending the £600 a day I was asked for here in Britain. I have to watch my bottom line like a hawk, especially in the difficult-trading-conditions we seem to be in. But here is a dilemma! A Marketing Plan is a really essential tool that will show a small business owner where their business is and map out where it needs to go. It is vital in today’s competitive environment that even small business should have one.
When you overdraft or financing facilities come up for renewal and your bank manager has to justify lending the bank’s money to your business, think how much easier it would be to convince him to continue backing you with a plan laid out in neat systematic form.
It is probably the case that far too many small companies don’t have a Marketing Plan, or the owner has it locked in his head. A place of storage that is really difficult to access when you need to show it to the potential investor or the bank manager. And inevitably this event usually occurs when you are really busy and committing your plan to paper, or computer file, is added pressure that you really could do with out. I run a small retail business – an independent bookshop and a Collectables gift business on the Internet.
Recently I studied for, and obtained, the UK’s Chartered Institute of Marketing’s “Professional Diploma in Marketing” by doing a convergent learning course on the net and in four intensive workshop days in my local town. It brought home to me that what we did in our own business was fine up to a point. As the course was very practical, with the chance to use any organisation of the student’s choice in the assignments that we had to submit, I ended up formally setting down the Marketing Plan on paper, that had been up there in my head for no one to see!
So what is a Marketing Plan for?
Well, its purpose is to lay down, direct and co-ordinate all your marketing activities and events. Think of it as a map. With a map it is easier to get some place. With a marketing plan it is easier to get the business to where you want it to head. This is, hopefully, to huge profits!
Perhaps you are the owner or director of a company seeking backing or further investment? Well a good marketing plan can be really important in attracting new investment or better bank facilities.
Perhaps you need help in making choices regarding which parts of the market to focus on and how to compete in that target market (Marketing Strategy)?
Often the mere process of preparing a marketing plan will help you to develop a successful marketing strategy through the discipline and process that you go through.
A good marketing plan will describe all the marketing actions to be carried out within a specific time period. It will contain details of your company, its products or services, its marketing objectives and strategies and information on how to measure the results of the marketing activities.
It might help if I give you a framework of basic elements that a Marketing Plan should include.
Basic Elements of a Marketing Plan
So what do you need?
1.Executive Summary – introduces and explains the major features and recommendations to executives (or your bank manager).
1.1 Introduction – a brief description of your organisation, its products and or services.
The context and objectives of the plan should be described and a description of what your business activities are. You should include current revenues, customers and your market position. You can also blow your own trumpet here! Note your accomplishments and successes to date.
If it is a new market entry or entirely new markets you are going for, then here is the place to describe any experience, training or competencies that your company has.
1.2 Vision, Mission Statement and Objectives
Mission statements focus on the long-range purpose of your marketing plan.
“To educate entertain and enlighten our clients so that they become more successful Marketers.”
Company objectives should be more specific and oriented towards action.
“We will deliver a balanced range of Marketing Solution Publications to the U.K. and Europe through mail order and Internet.”
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so?
Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc.
Agencies – Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market?
What are the dynamics facing businesses such as yours?
Who are your target customers?
What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at.
This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are:
Political
Economic
Social
Technological
Environment
Legal
2.3 Target market
It goes without saying that you should be aiming all your marketing efforts precisely at a target market or you are heading for a disaster.
All good marketing planning should follow from a very detailed segmentation of the market.
Size? Is it growing, staying the same, or shrinking?
Customer characteristics e.g. age, sex, income level, location, marital status, number of children etc.
Habits, patterns and values of target customer.
What are their wants, needs and desires?
What are their buying habits? – How do they spend their disposable income and when do they buy and how do they buy? How many times and when?
2.4 Competition analysis
In the micro environment analysis of a Marketing Audit you will hopefully have identified your present and potential competitors. What are their key products / services? How do they differentiate them selves? You should briefly explain the actions that you will take to oppose or overcome your competitor’s offerings.
I highly recommend you use Professor Michael Porter’s Five Forces Model for this and the four other threats he identifies. Space does not allow me to go into detail here although I have written a more comprehensive report in which I include a diagram of the Five Forces Model available from my own website.
2.5 Issues analysis
You should briefly list such key external issues as government legislation affecting your business, or new technological development that impinges on your product.
3.1 SWOT analysis
Strengths
Weakness
Opportunities
Threats
A major component of any marketing plan is the SWOT analysis. Strengths and weaknesses are born of internal elements while opportunities and threats come from outside.
When opportunities and threats are recognised they can then be examined from the point of view of your product strengths and weaknesses.
What could we change or improve about our product to make it easier for the customer?
What are our customers’ wants and desires? – We may possibly find new opportunities by thinking about such questions.
It is worth remembering that a threat can also be an opportunity to you, while a strength may also be a weakness depending on your point of view!
A business offering a vast selection of products may see this as one of their strengths. But for the customer, confused by the bewildering array of options as they try to find what they need, sees it as a weakness.
4. Positioning Strategy
Decide how you want your clients to perceive you in your marketplace.
Lowest price?
Best service?
Highest quality?
This is all part of the differentiation process.
5. Differentiation
You want to ’stand out from the crowd’ so you need to make some decisions on segmentation and the positioning of your business. Combine this with your competitive analysis and you should be able to differentiate yourself from the competition.
6. Key messages
Thinking about differentiation should also help you to decide on your ‘Key messages’. Be warned that it usually takes time for these to make an impact, to ’sink in’, as it were. This means it is important to keep repeating your consistent messages throughout any marketing campaigns.
7. The Marketing Mix
The 4 P’s.P is for:
Product – List your companies products and services. Include their key features. Is there something unique about them? If you are launching a new product or service include it here.
Price – There are many ways to set a price, some more scientific than others are! Remember that pricing is an integral part of the marketing strategy. Ask yourself is the customer willing to pay the price proposed and will it give you any profit? Some prices may be set on a cost-plus basis – adding a profit on to the costs of producing the goods or services. A better way is the ‘market-based’ price because it takes into account what your competitors are charging.
Place – where do you sell? Direct, through an intermediary? Bricks and mortar or virtual outlet?
Promotion – what activities are you going to use to create awareness of your product or service to generate sales? This is also referred to as Marketing Communications and includes direct selling, corporate events, brochures, web-sites, advertising. You should be warned that many inexperienced marketers think that the promotional plan is the entire marketing plan. It is, as you can see, but one component of the marketing plan.
7a. Integration of Promotional activity
Have you got a consistent look and feel to all your marketing mix? It is wise to make sure all your communications, brand positioning, propositions, messages, etc are derived from a single brand position so it is not confusing to the consumer by being fragmented. Also are there cross selling opportunities for you to exploit?
Only 4 Ps? – Funny, I thought I heard there were 7!
Before leaving the marketing mix I need to tell you about the Extended mix, which adds People, Process and Physical evidence to Product, Price, Place and Promotion.
If you are a service, or a not-for-profit organisation, then the extra three Ps are most important for you. But don’t just assume that because you are not, that they don’t apply!
People oriented organisations have to consider how their personnel make the marketing activities more, or less, effective when dealing face to face (or on the phone) with their public.
Process makes it easy for you to deal with the organisation. If it is a charity, for example, today people expect to be able to go on-line, set up direct-debits, pay by card and not just put money in the street collectors tin.
Physical evidence is expected to result from paying for a service or donating to a charity. You expect to see some physical evidence of the use your money has been put to.
8. Marketing Budget
You need a detailed budget for the next year showing the budgeted costs for each of your promotional items.
9. Measurement
Results and feed back must be gathered each month and compared with the marketing plan. When they are going astray you need to take corrective action.
Another tip is to ask your customers how they found you so that you can monitor what parts of your communications plan are working. Note this and include this in your measurements.
10. Milestones
It is a good idea to announce in the plan some marketing milestones you will strive to achieve. When you pass them celebrate!
So there it is a step by step process to create yourself a professional Marketing plan.
“A Marketing Plan to Copy” a more detaled report, is also available from the author, Nicholas Thorne, at http://www.promarketer.co.uk You see the marketing theory and models to use, plus a Free template and a copyright-free cut and paste plan. Nicholas Thorne holds a degree in Business Studies and is a Member of the Chartered Institute of Marketing in the United Kingdom. He is a business man with interests in bricks-and-mortar retail as well as on the Internet.
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Dramatically Improve Your Marketing Results With These 6 Simple Steps
What if there were things you could start doing now that could help you to market more successfully in the future? Even if you didn’t have your marketing act together over the past year. Well, there are.
(1) Review your past marketing activities and results
Take some time to review all of your marketing activities and try to understand which ones worked best. And when I say “worked best” I mean, which ones resulted in more clients, more customers, more sales, or more growth for your business?
Your goal each year should be to understand which marketing activities bring you more business and which ones do not, so you can concentrate on the activities that work, and delete the ones that do not.
Even if you did not have an organized marketing plan, or marketing activities that you implemented consistently during the past year, if you are still in business today, then there must have been some form of marketing going on.
(2) Broaden your definition of marketing
Marketing isn’t only things like running an advertisement, or sending out a direct mail piece. It’s anything you do that puts your business, product or service in front of the prospects you are trying to sell to.
You may be surprised to realize you’ve been marketing more than you know!
Any time you talk to someone about your business, product or service, in person, at an event, over the phone, or through a brochure or some form of media, you are marketing. Any time you send someone an email or a thank you card from your business, you are marketing.
Be aware of any time you are communicating with current customers, or potential customers. Take the opportunity to make them aware of new products or services, special offers or programs, or even milestones or changes in your business.
Do you include your business card every time you mail a letter to a client or prospect? Do you have an email signature that includes your business name, your phone number, your email address, your website address and possibly even your tagline? You should. You are reminding people about your products and services and making it easy for them to find out more if they so choose.
If you truly believe that your products or services can enhance people’s lives, then it should be easy to share the word at every opportunity. After all, if people don’t know about you, they can’t benefit. Put this way, it is almost a disservice to NOT market.
(3) See if you can track your sales to your marketing, either directly or indirectly
Take a look at the marketing you did do, taking into consideration all of the activities mentioned above. Can you directly or indirectly track any new or increased business to these activities? An example of direct tracking might be: You attended a networking event and someone you gave your business card to, contacted you or made a purchase.
An example of indirect tracking might be: You attended a networking event, and someone you gave your business card to, referred you to a friend, and that friend contacted you or made a purchase.
For each marketing activity you did over the past year, ask yourself the following questions:
(a) Did I get any new clients, customers or increased sales as a direct result, or an indirect result, of this activity?
(b) If the answer is yes, quantify the result by asking yourself: How many new clients, customers or sales did it generate?
If you can’t seem to track your past marketing activities, consider asking your current customers how they found out about you.
You could do a survey that includes a number of customer satisfaction questions, but also includes a question to determine how they found out about you.
If you have a handful of clients that you work closely with and you really don’t know how they found you, pick up the phone and ask them.
At the end of this exercise, you will have a list of all of your marketing activities, and the results connected to each one.
(4) Separate those activities that resulted in business from those that did not
Are there any activities on your list that did not result in new or additional business? If you gave these activities a good opportunity to bring you business, then maybe it’s time to consider dropping these activities and trying some new ones. After all, there is no sense continuing to spend money on marketing that has not proven to be effective for your business. Even if it has worked for someone else, it may not be a good marketing activity for you and your business.
(5) Use this information to plan your marketing for next year
Plan to spend more time, energy and/or money on those activities that brought you business and sales. These activities have proven themselves to be effective for your business, product or service. So odds are if you commit more to them, they will result in even more sales.
And, if you really don’t have any way to track your sales or new clients, don’t beat yourself up. You are not alone. In fact, one of my biggest challenges as a marketing consultant has been to get my clients to track the effectiveness of their various marketing activities. Just make sure to remedy this now, once and for all. Commit to never implementing a marketing activity again without some way to track how effective it is.
(6) Set up a way to track all future marketing activities
Recognize the importance of tracking and make sure that you have a plan in place to track all of your future marketing activities. The simplest way to track is to simply ask each new customer where or how they found out about you.
You may also want to consider including a code on any flyers or brochures that you distribute, and providing a reason for the customer to bring that flyer in when they come to make a purchase. Reasons to return the flyer could be to take advantage of a special offer, or to get a discount or free bonus gift.
You can also do this by phone or on the Internet if that is how your customers make purchases. Simply ask them to provide you with the code on the brochure or flyer that they are calling or ordering from. Make sure the code is specific to the location or group of people that you distributed the flyer to.
If you are networking or speaking to a group and someone gives you their business card and agrees to receive your free report or e-newsletter, make sure you include a reference in your contact database of the event where you met them.
For every marketing activity you do put a plan in place to help you track all them. Effective tracking is by far one of the easiest ways to improve your marketing effectiveness. And when you zero-in on what marketing activities are most effective for your business, you will be able to focus your efforts on only those activities, and will be able to spend less and get more as a result.
(C) 2005 Debbie LaChusa
Debbie LaChusa created The 10stepmarketing System to make marketing your own business as simple as answering 10 questions. Learn more about this unique, step-by-step system and get a free 10-week Marketing E-Course when you subscribe to the free, weekly 10stepmarketing Ezine at http://www.10stepmarketing.com
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Marketing’s Role in Entrepreneurial Business: Understanding Where It Fits
When I first meet them, many of the business owners and Entrepreneurs that I work with would prefer to avoid the whole issue of marketing altogether. They want to leave marketing up to the
“creative” people on their team and focus on the more tangible aspects of business. Or
they don’t see the need for marketing and prefer to rely solely on a strong sales team. The
exact opposite approach is needed for businesses that want to dominate their market and
achieve stellar results.
If you own a business, you must accept the fact that you won’t be able to create
sustainable, profitable growth without continually expanding your marketing knowledge.
Knowledge equals power, and, when it comes to marketing, clear and understandable
knowledge is a bit hard to come by.
As an entrepreneur, it is your job to know what is possible, what strategies make sense
for your business, and what results you should demand from your marketing system. This
requires a fundamental understanding of the role of marketing.
Marketing is one of the only activities in business that can help you make money. And
marketing done right can have astounding results.
Marketing Definition
The first step toward understanding marketing’s role in your business it to get a handle on
exactly what marketing is. When most small business owners think of marketing, they are
generally thinking about promotion-either advertising or sales. These are two elements
of marketing, but there is more to it than just promotion.
The simplest definition of marketing for the small business is “everything you do in your
business that puts money in your pocket.”
That’s a pretty broad definition. But true, nonetheless. Yet this definition, while it makes
a good point, doesn’t help us really understand what marketing is.
I prefer to define marketing this way:
Marketing is the business activity of creating value, communicating value, and
exchanging value to satisfy the needs of businesses and individuals.
This definition covers the entire scope of the marketing function. In your business you
create value through products or services, and then you tell people about the value you
have created, and then you deliver that value in exchange for something you value: that
green energy that fuels your dreams.
Let’s take it apart to make sure we understand the definition…
Satisfy the needs of businesses and individuals
Any effective definition of marketing must be built around satisfying the needs of
businesses and individuals. Without the need, there can be no value created or
exchanged.
You will notice that the definition includes “businesses AND individuals.” To be truly
successful, you can not take an ‘either or’ approach to the market. Markets are made up
of both businesses AND individuals, no matter what business you are in.
Create Value
Marketing is about creating value to answer the needs of your market through products or
services. The need comes first, and then you create value (products or services) to meet
that need.
Communicate Value
Now we get into familiar territory: advertising and sales. Certainly a large part of
marketing is about effective communication. This is where you inform those businesses
and individuals about the great value you have created.
Exchange Value
Finally, we come to the part where money changes hands. You exchange the value you
have created (your products) for something that you value (money).
But Isn’t That Everything My Business Does?
Aha! Now you have taken the first step to a major shift in thinking that will change the
way you look at your business and will significantly improve your profitability. In order
to really be successful in a small business, you need to start thinking of your business as a
marketing machine. You might bake bread, but your business is the marketing of bread.
You might be a software engineer, but your business is the marketing of software. You
might be a personal development coach, but your business is the marketing of coaching
services.
Don’t take my word for it. This is what Peter Drucker, who in 1997, Business Week
called “the most enduring management thinker of our time.” says about it:
“Because of the nature of business, it has just two functions, and
only two; marketing and innovation. Marketing and innovation
make money. Everything else is a cost.”
Now that you have a workable definition that doesn’t leave any critical element out of the
mix, you can start to make sense of what this means to your business.
If you are in business today, you are a marketer. Your job is to facilitate the exchange of
value between your company and an eager market. To really succeed in the marketplace,
your entire business must be focused on the business activity of creating value,
communicating value, and exchanging value to satisfy the needs of businesses and
individuals. When you truly get focused on these three elements of the marketing
definition that is when you will see your sales and profit expand dramatically.
Doug Hudiburg – Marketing Consultant, Entrepreneur and Creator of the MPaX Marketing System
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A marketing plan is a blue print document for a business which is developed to plan and implement the marketing activity necessary to achieve the goals set out for the business. For most small and medium sized businesses this will mean a marketing plan which is developed to achieve the sales and profit targets set for the business. A good marketing plan will target available resources in the most efficient and planned manner and enable the business to achieve its objectives. There are a number of stages to developing an effective marketing plan.
1. Define the business itself – What is the business in terms of size, location, sales channels, etc. What does the business do, what are the unique sales points or main sales points of the business or its services and products.
2. Define the objectives – What are the objectives for the business, these may include increasing sales from existing customers, winning new customers, increased profitability, launching new products or services, moving into new geographical areas, opening up new markets, raising awareness of the business or brand, developing new distribution channels. Most likely it will be a combination of several of these objectives.
3. Identify the target market – The marketing plan should identify the types of customers or clients that the products or services will be sold to. Factors to consider for B2C businesses will be social group A, B C1, C2, D & E. Geographical location, age group, gender, interest group, etc. For B2B businesses factors will include business sector, size, geographical location, job title, turnover, etc.
4. Timescale – It is most productive in developing a marketing plan to break down the achievement of the objectives by timescale. Set out what needs to be achieved in the short, medium and long term. In the short term it may be best to focus on achieving a level of sales which can at least support the business outgoings, longer term objectives would include achieving high levels of awareness in the target market and a reputation for excellence in your field.
5. Marketing Tactics – Once points 1 to 4 have been decided the next stage in the marketing plan is to decide which marketing tactics need to be employed to best achieve the objectives that have been identified for the short, medium and long term. The marketing tactics employed could include advertising, direct marketing, graphic design (logo, brochures, leaflets, point of sale), online marketing, search engine optimisation, public relations, sales promotion and channel marketing. The factors which decide which marketing tactics will be most effective include available budget, the nature of the target market, the main sales points of the business and its services and products, competitor activity, market conditions and availability of suitable media.
6. Media Selection – Once marketing tactics have been decided the next stage of the marketing plan is to select the most appropriate media. There are a whole host of available media channels whatever marketing tactics are employed. For example, for direct marketing there are a multitude of list brokers offering many options for suitable lists – so contact at least 4-5, the internet is now an excellent means of sourcing professional marketing help, consider which options are best for your business. For advertising you can select from media such as national, regional and local newspapers, magazines, newsletters, radio, posters, banners and even TV. The selection will depend entirely on your target market and budget – make your budget work as hard as you can.
7. Creative Message – This aspect of the marketing plan will de developed directly from the unique sales point and major sales points that were identified earlier in the marketing plan. The creative message may include a strapline that encapsulates the key sales point for the product or service. The creative message must be consistent across all media and have impact and standout. For the implementation of this aspect of the marketing plan it is advisable to seek the services of a professional marketing agency – again this can be sourced via the internet.
In summary, your marketing plan is key to the success of your business, it is a blueprint for the long term development of the business sales. It is important that your marketing plan centres around achieving sales and profitability, return on investment is key to good marketing. It is best to get professional help when developing your marketing plan – use the internet to source that help.
Carl Roughsedge is Director of http://www.e-Moonlighting.co.uk which specialises in providing marketing, marketing plan and graphic design services to small and medium sized businesses around the World. To obtain professional help with you marketing plan log on to http://www.e-Moonlighting/how_to_brief_us.html
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