Good news, there’s a buried treasure nearby, and you’ve got the map. It details each step toward your destination, with specific instructions on what to do at each stop. But when you make it to the end don’t start digging. You’ll want to retrace your route to make sure you’re in the right spot. Otherwise you might find the only thing you’ve got to show for your energy and time is an empty hole.
Your map is your marketing plan -- a document that will take you through the next 12 months. The treasure at the end is the reward of having met your goals.
One of the most important functions of your marketing plan is to guide you through the steps necessary to meet your objective. In order for this to happen, be as specific as possible about your goals, detailing what you need to do to reach each one.
For instance, your objective may be to increase sales by 15 percent during the next 12 months. Write that down, but then devise a strategy for achieving that, noting whom your target audience is, and plot on a timeline when you will accomplish each element of your marketing plan.
In this case, your strategy may include launching a quarterly newsletter to increase visibility. Your target audience may include customers, prospects, the media and industry leaders. Write down in as much detail as possible, how to get this newsletter off the ground and into the hands of your target audience. You’ll probably come up with something like this:
1. Meet with a graphic designer
2. Write my own articles or find a writer
3. Find a printer
4. Update my database
5. Arrange for a mailing house to distribute the newsletter
Then, plot backward on your timeline from the end of 12 months the dates you will accomplish each step.
When setting your budget, a general rule-of-thumb is 10-20 percent of your gross revenues should be put into marketing your business.
When you devise your marketing plan, be sure to give yourself enough time to accurately judge whether your strategy works. This means making at least a yearlong commitment to each marketing campaign. People have told me that they tried a newsletter a couple of times, got a good response, but never followed up. For a newsletter to help your business, it’s got to be ongoing.
Track the results of your efforts through your customers. When someone new calls, asked how they heard about you. This will help you decide which strategies work, and where to spend your marketing money. If the newsletter is bringing in business, then perhaps you should publish more often. If it’s the Yellow Pages ad that did it, consider adding a second color to make it stand out more.
When you’ve completed each strategy in your marketing plan, it should be a simple matter to go back over your marketing plan to measure the results.
The beauty of a marketing plan is that it helps you become more proactive and less reactive. It puts the map in your hands and all you have to do is follow its instructions. If the plan is well thought out, and the direction clear, then chances are you’ll be hitting pay dirt at the end.
