Creating Your Unique Marketing Plan

Below is an outline of steps I use with clients to help them think through and develop a focused marketing strategy for the year. Creating a strategy is about thinking, analyzing and planning, it is not about doing. That comes later. Right now you want to get a perspective on your business and where you want it to go.

  1. What were your total sales/revenue last year? Break that figure out into the dollars per major category of products or services
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  2. What are the top three to five producing categories of products or services that you provide? Market demands and customer needs change constantly, so do you want to add to or eliminate any categories this year? Do you need or want to up grade your customer base in any of these categories? If so what would the customer up grade profile look like?

  3. Of the goods and services you provide which one could or does now provide a consistent monthly revenue stream, 12 months of the year. Could it easily be expanded to cover all your basic overhead costs? It must be an area where you have or are creating a very high level of capability to perform extremely well with little effort. To do that you must have excellent systems and procedures in place for the task and it should be one you can delegate if possible. This is called 'bread and butter' business. It may not be exciting or creative and may not have a high profit margin but it pays the bills! In a men's retail department it could be underwear, sox and basic dress shirts.

  4. Profile your ideal target market for this 'bread and butter' business. Based on current revenues from this category, exactly how many more customers or product sales per month do you need to completely cover your overhead expenses plus 10%? The extra 10% allows for attrition with out suffering. There may be some current customers in this category who need to be replace because they are not profitable enough, are too hard to work with or don't pay on time.

    In order to increase business in this category and continue to provide excellent to superior service do you need to add any people, equipment, or improve your internal systems and procedures? If so how and when will you do this and what will it cost?

    A landscape maintenance client decide that adding more acreage mowing business was better than going after apartment complexes. This required investing in more heavy equipment but had a lower labor cost and fewer customer headaches.

  5. Your number one marketing effort should focus on the 'bread and butter' category. Set a specific time frame to meet your goal and put 90% attention into building this business until your basic financial needs are met plus 10%.

    Try to do this in three months or less. This will get you out of survival mode and will allow you to begin to think more creatively and expansively about your business. While you are building this basic business only enough time and energy is going into the other categories to maintain status quo.

  6. If there is an area of your business that is not very profitable, an area in which your company does not excel or you just don't like producing a particular product or service, then cut that category out. Refer that business out or subcontract it to someone who can make a profit on it or likes it better than you do.

    You do not have the time or resources to be good at everything so pick the areas of your business that give you the most satisfaction and personal juice in return. Money is important but if producing a particular product or service does not 'feed' you mentally, physically, emotionally or spiritually you will burn out quickly.

  7. Of the categories left which one can or does give you the greatest profit for the least effort. The least effort to produce not the least effort to market. This is a good candidate for your next marketing focus once the basics are met.

    Is there any small thing you can do with this product or service that will add value to the customer and differentiate you from your competition? You only need to be 1% better than your competition to have an edge. The best way to add value is to ask your customers what could be add to this product or service which would solve a problem for them. For one client 'zero billing errors' was enough to make him the only supplier of specific parts to a major corporation.

  8. Is there an area in which you wish to expand or add services? How could this benefit the clients you already have? What training, licenses, equipment, supplies, systems, procedures and personnel need to be in place to effectively expand or offer this service?

    Based on these considerations in what month can you realistically start delivering the service or product. How much marketing lead time will you need to introduce it to customers. Remember, 'Under Promise and Over Deliver Always".

  9. Once you have determined your bread and butter and most profitable categories, prepare a 12 month calendar just for marketing. Mark out special holidays important to your industry including special national focus weeks for your industry.

    For example spring break, the Christmas holidays and the month before school starts are key times for optometrist and dentists to remind parents to get the kids in for their check ups. In October and November all medical professionals who take insurance claims should send letters to patients to remind them to get any medical needs handled under the current years deductible.

    Create a basic weekly marketing plan for maintaining the bread and butter business all year. That might be as simple as 10 calls a week to current and potential customers. Consistency is the key here!

    In an area which you want to initiate or expand a particular product or service work backward from the date you want sales to occur and plan the infrastructure and marketing steps necessary to make that happen.

    Use this kind of thinking for each product or service you provide and you will see a clear and reasonable strategy and plan begin to unfold before your eyes. You will begin to see where you can use one product or service to build support and momentum for an other product or service. Your business is an organic entity. Thinking holistically about your business will allow you to create the greatest value from the resources available.

 

Joan Bolmer, 3307 Lake Ridge Bend, Spring TX, 77380; Office 832.458.0455
Copyright (c) 2007-2010, by Joan Bolmer, all rights reserved. Contact Joan Bolmer by e-mail at joan@bolmer.com Website: http://www.bolmer.com Permission is granted to reproduce, copy or distribute this article so long as this copyright notice and full information about contacting the author is attached.