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May,
2009
The
Marketing Plan
Welcome
to the May edition of the Servant-Leadership Solutions Newsletter.
Later this month (Thursday, the 21st), I will be presenting
a workshop on the Marketing Plan in cooperation with the
Hoopeston Economic Council. Because I'm focusing on preparing
for that, I thought this would be a good time to offer some
basic thoughts on this important document.
Simply
stated, a marketing plan is your road map to increased
sales. It details how you will make the world aware
of your products or services and convince them to
buy. More complex plans may also include demographic
information and the tracking mechanisms you will
use to chart your progress.
Marketing
is not just about buying ads in local media. Advertising
is just one part of an overall plan. Other facets
include promotional efforts (including brochures,
handouts, posters, e.g.), web presence, press releases,
telemarketing, trade shows, point of purchase marketing,
and more. Your marketing plan will determine how
you will address each of these facets, the resources
you'll need to accomplish each, and the mechanisms
you'll use to track your efforts.
Creating
your marketing plan takes time and effort. It's
not something you should expect to complete in an
afternoon or two. Most experts advise that you take
at least two months to create a detailed plan. The
more you put into your plan, the more you will get
out of it, so don't skimp on the preparation. Make
a commitment now to do the grunt work (creating
the plan) so that you'll reap greater rewards from
your effort and resources.
The
first thing on your list should be describing what
you will sell. Remember, it doesn't matter if you
have products or offer services; you have to sell
what you have to someone who needs it. And that's
the second task: defining who your customers will
be. Once you've decided what you will sell, and
to whom, only then can you plan how you will reach
those customers.
I
believe that these two tasks are extremely important.
So important, in fact, that I'm going to stop here.
This month, why not spend time carefully considering
these two points? Start out by reflecting and making
notes. Once you've fleshed out your overview, you
can then begin to organize your thoughts in a formal
document. When you have completed a rough draft,
invite comment from coworkers and employees, trusted
customers and vendors, and others in your network.
Don't
look for (or expect) a lot of compliments and "atta-boys".
Instead, focus on the criticisms that will help
you refine your plan. This isn't about making yourself
feel good; it's about finding better ways to market
your products or services. Even if you initially
disagree with some of the comments you receive,
be willing to carefully consider them. Sometimes
the comments that hurt the worst are the ones that
will help the most.
Once
you have refined these two sections of your marketing
plan, you can begin to draft the strategy that will
help you reach out to potential customers and clients
and bring in more business.
Remember,
something happens when you don't have an effective
marketing plan: nothing!
Resource
- Book
Marketing
for Dummies
Alexander Hiam
John Wiley & Sons
I'm
a big fan of the "...for Dummies®"
books because they contain valuable information
and are easy to read. They also normally include
lots of lists and tip sheets, which makes it easy
to refer back to the book and find the information
you need.
Marketing
for Dummies is a basic overview of the craft. It's
an excellent first book for those wishing to improve
their marketing efforts. If you've never studied
marketing, start with this book and you'll build
a strong foundation for subsequent studies.
Quick
Tip - Be in the Peace of Mind Business
Through
my work in the music industry, I meet a lot of small
business owners. Last week I had reason to interact
extensively with one of the best equipment rental
companies in the industry - Best Instrument Rentals
of New York, NY. During one phone call with president/CEO
Perry Winston, he made a comment that I think we
should all keep in mind. "When it comes down
to it," he said, "I'm in the Peace of
Mind Business."
Perry's
company rents amplifiers, sound systems and musical
instruments to production companies, TV studios
and touring bands. When they place an order, they
need to know it's going to be filled correctly and
on time. They need to know that when they flip the
switches, everything will work as needed. In other
words, they need peace of mind.
We're
all in that same business, delivering peace of mind
to our customers and clients. Whether we're selling
widgets and doo-dads, or providing services such
as accounting, legal advice or business consultation,
we fill needs and solve problems.
Take
some time to reflect on how you can more effectively
deliver peace of mind to your customers. If you
improve your delivery of this aspect of the relationship,
your customers will respond by doing more business
with you, and by telling more of their friends,
acquaintances and coworkers about you.
You've
Got Questions
Q:
I've got a web site but no one visits it. How can
I change that?
A:
There are two possible answers to this question:
1.
Make sure people know about your site. The web address
(URL) should be included in all promotional material
- business cards, brochures, press releases and
ads are just the beginning. Forget the first part
of the address (http://www.) and use only the site
name and extension: lanebaldwin.com. This makes
it easier for the customer to remember the address.
2.
Make your web site interesting and useful. If you
haven't added any new content for months, there
really is no reason for anyone to visit again. The
actual content will vary depending on your business,
but it's always important to offer customers (both
current and potential) reasons to visit your site
regularly.
Thought
for the Day
Half
the money I spend on advertising is wasted, and
he trouble is, I don't know which half.
Lord Leverhulme (1851-1925) - founder of Lever
Brothers
End
of Servant-Leadership Solutions V2009, #3, a publication
of:
Lane Baldwin Servant-Leadership Solutions
My business is improving yours.™
Copyright
by Lane Baldwin Servant-Leadership Solutions, 2009. Reprinting
or republication of Servant-Leadership Solutions is prohibited
without prior approval.
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