the 90 minute marketing plan
DESCRIPTION
Can you develop an effective Marketing Plan in 90 minutes or less? Yes, you can! Whether you run a small start-up business from your garage, or you're the captain of industry, here are all the basics for building or evaluating an effective marketing plan.TRANSCRIPT
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The 90 minute Marketing Plan
Presented by Dan Stiel
Stiel Direct LLC(949) 300-8325
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Can you develop a Marketing Plan in 90 minutes?
“If you think you can - or think you can't, you're probably right.”
Henry Ford, Industrialist c. 1863 - 1947
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Today’s Goal: Build your PlanWe’re going to focus
on the Two Parts of an effective Marketing PlanYour Strategic PlanYour Tactical
Implementation Plan
But where do we start?
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A Chicken or Egg Question!What came first?
Your Marketing Plan? - or – Your Marketing Goals?
“Begin with the End in Mind.” -- Stephen Covey
The 7 Habits of Highly Effective People
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Setting Goals & ObjectivesSet goals & objectives that are:
ReasonableBelievableAchievableMeasured
Set Quantitative and Qualitative goalsJust the Facts, pleaseSoft and Fuzzy feels good, too
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Setting Goals & ObjectivesGoals & Objectives are not the same thing
Strategic plans have goals GOALS = DESIRED RESULTS
Tactical plans have objectives OBJECTIVES = COMPLETION OF TACTICS &
ACTIONS TO GET YOU TO YOUR GOAL
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Goals & ObjectivesGoals might include
$$ Sales per month ## Widgets sold per hour $$ Profit per year Open ## new markets
Objectives might include ## Telemarketing calls made per minute ## New products introduced this year % customers who intend to buy again Begin selling in China by the end of next year
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Every plan must be open to change
“Nothing endures but change.” Heraclitus, Greek Philosopher
c. 535 BC - 475 BC
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Developing your Strategic Marketing Plan
The Six Steps to Strategy
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The “6-Step” Strategic PlanDefine goals, challenges & opportunities
Acquisition = Making new customersActivation = Breathing life into new customers Usage = Increasing your “Share of Wallet”Retention = Keep profitable cash flows Market Development = Create New
Markets/ProductsMarket Insight = Understand change
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1. Acquisition Define who do you want as new customers?
Geography where will your customers come from
Demography what will your customers “look like”
Psychology What will motivate customers to shop with you –
and keep shopping
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2. ActivationGet your customers to use what they bought
Engage your brand How many people will actually “use” the product as
intended?
Fundamental to service industry successWhat are the barriers your customers face in
using the product?New customers at biggest risk
What actions will you take to ensure people “activate” Don’t forget dormant customers
How will you get current customers who’ve stopped “using” to re-activate?
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3. Usage: Increase Wallet ShareSpend more with you - and less with your
competitorsWhat are the barriers to buying more from
you? What will you do to remove those barriers?
Cross-sell What can you cross sell to current customers
What will you do to cross-sellPromote repeat business
Measure future “Intent-to-buy-again” “Intent-to-recommend” What will you do to increase these measures?
Exceed expectationsStiel Direct LLC
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4. RetentionKeep profitable cash flows from slipping
away. Measure and create an action plan to ensure you are:RelevantRememberedCompetitiveDifferentiated
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5. Market DevelopmentDeveloping New Markets
GeographyDemographyPsychology Products
Are you staying with changeIt’s usually better, at least o.k., to be first to-be-
second It’s never o.k. to be second-to-last
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6. Market InsightWho, What, Where, When
Why, How, If, Then, SoDo you understanding
CustomersChanging marketsCompetitorsEconomic forcesNew world ordersChallenges
Research the fundamentals of your products, customers, markets, and their future:TechnologyFinancialMarketplaceCompetitiveFashionistas &
TastemakersResources – financial,
human, physicalStiel Direct LLC
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Summarize Your Plan in WritingDefining goals, challenges and opportunities
AcquisitionActivationUsageRetentionDevelopmentMarket insight
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Part II: Create Your Tactical PlanStrategies to Tactics Tactics to SalesTranslate your strategies
into tactical “To-do’s”Tactics must be:
Effective – must achieve the goals
Efficient – must use resources wisely
Types of Tactics:DevelopmentalCommunicationCreation ImplementationConsummationFinalizing
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Development Tactics Examples Developmental tactics might include:
Product development Opening New Stores & MarketsBuilding a web storeRemodelingVendor sourcing Employee training
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Communication TacticsOld School – still works
New School – the Wild West
In-store merchandising A new logo or signageDirect MarketingWeb OrderingAdvertising
Newspaper On-line Magazine Broadcast Yellow Pages
Social MediaViral MarketingSpecial
Events/CommunityMobi – phones, iPads, et
al.Google
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Communications BasicsWhat do you want your audience to do?Where are they?What do they want from you?
Build your value-propositionTell your storyEngagement. Get noticed! Ask for the sale!Exceed customer expectations!
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A Final Thought…"The person who gets the farthest is generally
the one who is willing to do and dare. The sure-thing boat never gets far from shore."
–Dale Carnegie
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