This coming Friday May 17, I will be giving a talk on the essential ingredients of a marketing plan. My presentation will be at 2 pm at the Civic Center Library at 3839 N. Drinkwater Blvd. Scottsdale. Yes, it is open to all and hope you can join us. (It will last approximately one hour).
In preparation for this presentation I listed all the words that pertain to marketing on a white board. I ended up with 33 words (topics), each being an essential part of an overall marketing program. For a small business owner, the thought of developing an action plan for all 33 marketing points is overwhelming.
The need for and the development and implementation of a business plan is understood by most business owners. Within that business plan is a marketing plan which is centered on opportunities and the strategies needed to take advantage of them.
By inserting marketing within the general business plan it loses its independence and is often filed in a drawer as happens to most business plans. A marketing plan is what generates profitable growth, and it must be a live document that is in constant use and carefully monitored.
A business plan is developed for several reasons; one being the ability to say “I have one” and another, most common use, is to raise funds. A well-developed marketing plan is the most important tool in a small business owner’s arsenal. It is composed of some of the same ingredients that are part of a business plan; values, vision, target market, systems, customer service, etc.
The difference in the marketing plan is the prioritization of effort, the research needed to set the starting point and the accountability factor. A marketing plan has time lines with expected results. It provides a method to measure success and the ability to make a change when necessary.
A business fails because it is no longer profitable. Marketing is the key to creating profitability. Time and resources allocated to marketing must be managed properly so that the desired results can be reached. Of the two, time management is the most critical. That means that the time allocated to marking must be used effectively according to a developed plan.
A marketing plan, just as a business plan, must be developed specifically for a company. A cookie cutter plan (one size fits all) usually makes money for the person selling the plan and not the person who buys it.
If you are in business (business owner or commission sales person) and if you don’t have a fully developed marketing plan, stop whatever you are doing and find someone to help you develop and implement your own plan.
Leaders not only know where they are going, but they know how to get there. John C. Maxwell
Nick J. Petra CFP www.onebizcentral.com offers the best and most useful information for growing a business.