Your 2009 Marketing Planning


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Your 2009 Marketing Planning

  1. 1. Have a Happy New Year: Creating Your 2009 Marketing Plan Stacy Armijo & Eric Whittington Pierpont Communications, Inc.
  2. 2. A little about us… Stacy Armijo Eric Whittington
  3. 3. Most Common Marketing Planning Mistakes…
  4. 4. Disconnect from business strategy <ul><li>Deeper than sales targets. </li></ul><ul><li>Do you really understand where the organization is headed? </li></ul><ul><li>Think 3 – 5 years out. </li></ul>
  5. 5. Too ambitious <ul><li>Factor “people” needs as well as monetary resources. </li></ul><ul><li>As long as you think it will take, double it (and you’re getting close). </li></ul><ul><li>Allow for the unexpected. </li></ul><ul><li>Leave space to be a superstar. </li></ul>
  6. 6. Plan by committee <ul><li>Gain broad buy-in on the strategy, not the plan. </li></ul><ul><li>Get the CEO’s support early on to fend off “committee think” </li></ul><ul><li>Minimize personnel involved in tactical decisions and reviews / edits. </li></ul>
  7. 7. Excluding current customers <ul><li>It’s easy to focus only on acquiring new customers, but… </li></ul><ul><li>It’s critical to keep the ones you already have </li></ul><ul><li>While you’re at it, look for opportunities to expand existing client relationships (development) </li></ul><ul><li>Remember: It’s much easier and cheaper to keep a client than gain a new one and happy customers are your best sales people! </li></ul>
  8. 8. Skipping straight to tactics <ul><li>Must set the strategic foundation first…every time. </li></ul><ul><li>Avoid the “we know that already” trap. </li></ul><ul><li>Keeps you focused on strategy, particularly when the plan is challenged. </li></ul>
  9. 9. Lack of Discipline <ul><li>Good plans too often derailed by “helpers” with good intentions. </li></ul><ul><li>Marketers sometimes sold too easily by salespeople from media outlets. </li></ul><ul><li>Urgency to “do something” can overpower methodical planning and due diligence; “ready, fire aim!” </li></ul>
  10. 10. Lack of metrics <ul><li>The more specific, the better, but anything is helpful. </li></ul><ul><li>If possible, consider market research (position as a risk mgmt investment). </li></ul><ul><li>Learn to love numbers because metrics = More budget, credibility </li></ul>
  11. 11. Switching gears too quickly <ul><li>Agree on how long you’ll give the plan (and specific tactics) before changing. </li></ul><ul><li>If you’re changing marketing strategy every year (or more), time to address the bigger problem. </li></ul>
  12. 12. The Marketing Planning Process <ul><li>Research </li></ul><ul><li>Mission / Vision / Values </li></ul><ul><li>SWOT analysis </li></ul><ul><li>Business objectives </li></ul><ul><li>Audience identification </li></ul>6. Key message development 7. Marketing strategies 8. Tactics 9. Budget 10. Implementation
  13. 13. Research <ul><li>Last year’s sales metrics </li></ul><ul><li>Last year’s marketing metrics </li></ul><ul><li>Industry research for new ventures </li></ul><ul><li>New market research </li></ul>
  14. 14. Vision / Mission / Values <ul><li>If established and meaningful, document them and use them. </li></ul><ul><li>If not, I recommend moving on. </li></ul>
  15. 15. SWOT analysis An evaluation of your organization’s strengths, opportunities, weaknesses and threats. Weaknesses: Something the organization needs and does not possess. Example: Little to no name recognition for our company among prospective customers. Strengths: Something the organization needs and currently possesses. Example: Experienced management team that is well-known and respected in the renewable energy industry. INTERNAL FACTORS Threats: If it is not eliminated or mitigated, the organization will be affected negatively. Example: Texas lawmakers are considering legislation that would require a change in the design of our product. Opportunities: If no action is taken or the action is ineffective, the organization will not benefit. Example: There is substantial demand in our market for cost-effective, energy efficient appliances. EXTERNAL FACTORS
  16. 16. Competitive Analysis <ul><li>Who are your competitors? </li></ul><ul><li>Think beyond those in your business. </li></ul><ul><li>How do they compare in market share, services, messages and profile? </li></ul><ul><li>What can you learn from them? </li></ul><ul><li>How should you differentiate yourself? </li></ul>
  17. 17. Business objectives and goals What are your business objectives and goals? SMART goals: Specific, measurable, attainable, realistic, timely <ul><li>Drive adoption of ACME’s in-motion telecom services among U.S. yacht owners. </li></ul><ul><li>Achieve maximum valuation in the sale or acquisition of ACME. </li></ul><ul><li>Enhance ACME’s per-client profitability. </li></ul>Sample Objectives (Qualitative expression) <ul><li>Achieve $2.5 million in revenue in 2009. </li></ul><ul><li>Earn $10/share for the purchase or acquisition of ACME in 2009. </li></ul><ul><li>Increase profit for each ACME client to 10% by the end of 2009. </li></ul><ul><li>Outcomes of the organization </li></ul><ul><li>Goes back to mission, vision, values </li></ul><ul><li>Why are we in business? </li></ul><ul><li>How will we know when we succeed? </li></ul>Sample Goals (Quantitative expression) What is it
  18. 18. Audience Identification Who is your customer? For B2B : What types of companies? How big? Where are they based? What industries? Which individuals within the companies? For B2C : What are the demographics? What about psycographics? What motivates and engages them? Who else must you influence? <ul><li>Partners </li></ul><ul><li>Distributors </li></ul><ul><li>Regulators </li></ul><ul><li>Investors </li></ul><ul><li>Employees </li></ul><ul><li>Industry leaders </li></ul><ul><li>Analysts </li></ul>Stratify audiences: Primary, secondary, etc.
  19. 19. Key Message Development <ul><li>Your key messages should answer: </li></ul><ul><li>Who are you? </li></ul><ul><li>What do you do? </li></ul><ul><li>How are you different? </li></ul><ul><li>How are you better? </li></ul><ul><li>The Approach </li></ul><ul><li>Keep it simple – really </li></ul><ul><li>Test them (formally or informally) </li></ul><ul><li>Must be compelling and relevant </li></ul><ul><li>Be consistent, but flexible </li></ul>
  20. 20. Marketing Strategies <ul><li>Turn your outcomes into actions and use your research. </li></ul><ul><li>For example: </li></ul><ul><li>Educate U.S. yacht owners regarding the availability and benefit of in-motion telecom services. </li></ul><ul><li>Build awareness among ACME testing customers of the benefits of the company’s outsourcing services. </li></ul><ul><li>Attract prospective employees to ACME based on its award-winning associate training program and family-friendly environment. </li></ul><ul><li>Position ACME as an expert in financial advising for high net worth individuals. </li></ul>
  21. 21. Marketing Tactics <ul><li>So many options… </li></ul><ul><li>Web Site </li></ul><ul><li>Email marketing </li></ul><ul><li>Pay-per-click advertising </li></ul><ul><li>Search engine optimization </li></ul><ul><li>Media relations </li></ul><ul><li>Event marketing </li></ul><ul><li>Webinars </li></ul><ul><li>Events </li></ul><ul><li>Sponsorships </li></ul><ul><li>Advertising (all types) </li></ul><ul><li>Community relations </li></ul><ul><li>Direct mail </li></ul><ul><li>Tips for evaluating: </li></ul><ul><li>Does it reach my target audience? </li></ul><ul><li>What will I gain (leads, awareness, recognition as an industry expert)? </li></ul><ul><li>Does it give me an opportunity to spread my key messages? </li></ul><ul><li>How will it affect the perception of my company? </li></ul><ul><li>What is the cost versus the benefit? </li></ul>
  22. 22. Marketing Budget <ul><li>Be as specific as possible. </li></ul><ul><li>Consider “people” resources (more staff, temp support, external agencies). </li></ul><ul><li>Leave some wiggle room. </li></ul><ul><li>Track expenses closely all year for accurate budgeting in 2010. </li></ul>
  23. 23. Implementation <ul><li>Create specific action plans with clear deadlines and responsibilities. </li></ul><ul><li>Use the Implementation Plan as a working document all year long. </li></ul><ul><li>Consider a monthly scorecard that tracks your metrics. </li></ul><ul><li>Adjust throughout the year, if necessary. </li></ul><ul><li>Keep detailed reports of tactical effectiveness for use planning next year. </li></ul>
  24. 24. Process Review <ul><li>Research </li></ul><ul><li>Mission / Vision / Values </li></ul><ul><li>SWOT analysis </li></ul><ul><li>Business objectives </li></ul><ul><li>Audience identification </li></ul>6. Key message development 7. Marketing strategies 8. Budget 9. Implementation
  25. 25. Tips for Success <ul><li>Connect your plan to the business strategy. </li></ul><ul><li>Plan resources – people and money – conservatively. </li></ul><ul><li>Gain top-level buy-in and hold the process close. </li></ul><ul><li>Include current customers. </li></ul><ul><li>Take time for the strategy. </li></ul><ul><li>Follow a disciplined approach. </li></ul><ul><li>Instill metrics throughout. </li></ul><ul><li>Give it time to work. </li></ul>
  26. 26. Questions? Call us… Stacy Armijo 512-448-4950 [email_address] Eric Whittington 210-372-9200 [email_address]