The 90 Minute Marketing Plan

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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.

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The 90 Minute Marketing Plan

  1. 1. Presented by Dan Stiel Stiel Direct LLC (949) 300-8325 Stiel Direct LLC 1
  2. 2. “If you think you can - or think you can't, you're probably right.” Henry Ford, Industrialist c. 1863 - 1947 Stiel Direct LLC 2
  3. 3. Today’s Goal: Build your Plan  We’re going to focus on the Two Parts of an effective Marketing Plan  Your Strategic Plan  Your Tactical Implementation Plan  But where do we start? Stiel Direct LLC 3
  4. 4. 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 Stiel Direct LLC 4
  5. 5. Setting Goals & Objectives  Set goals & objectives that are:  Reasonable  Believable  Achievable  Measured  Set Quantitative and Qualitative goals  Just the Facts, please  Soft and Fuzzy feels good, too Stiel Direct LLC 5
  6. 6. Setting Goals & Objectives  Goals & 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 Stiel Direct LLC 6
  7. 7. Goals & Objectives  Goals 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  $$ Sales in China by the end of next year Stiel Direct LLC 7
  8. 8. “Nothing endures but change.” Heraclitus, Greek Philosopher c. 535 BC - 475 BC Stiel Direct LLC 8
  9. 9. The Six Steps to Strategy Stiel Direct LLC 9
  10. 10. The “6-Step” Strategic Plan  Define goals, challenges & opportunities  Acquisition = Making new customers  Activation = Breathing life into new customers  Usage = Increasing your “Share of Wallet”  Retention = Keep profitable cash flows  Market Development = Create New Markets/Products  Market Insight = Understand change Stiel Direct LLC 10
  11. 11. 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 Stiel Direct LLC 11
  12. 12. 2. Activation  Get your customers to use what they bought  Engage your brand  How many people will actually “use” the product as intended?  Fundamental to service industry success  What 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? Stiel Direct LLC 12
  13. 13. 3. Usage: Increase Wallet Share  Spend more with you - and less with your competitors  What 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-sell  Promote repeat business  Measure future “Intent-to-buy-again”  “Intent-to-recommend”  What will you do to increase these measures?  Exceed expectations Stiel Direct LLC 13
  14. 14. 4. Retention  Keep profitable cash flows from slipping away. Measure and create an action plan to ensure you are:  Relevant  Remembered  Competitive  Differentiated Stiel Direct LLC 14
  15. 15. 5. Market Development  Developing New Markets  Geography  Demography  Psychology  Products  Are you staying with change  It’s usually better, at least o.k., to be first to-be-second  It’s never o.k. to be second-to-last Stiel Direct LLC 15
  16. 16. 6. Market Insight Who, What, Where, When Why, How, If, Then, So  Do you understanding  Research the fundamentals of  Customers your products, customers,  Changing markets markets, and their future:  Competitors  Technology  Economic forces  Financial  New world orders  Marketplace  Challenges  Competitive  Fashionistas & Tastemakers  Resources – financial, human, physical Stiel Direct LLC 16
  17. 17. Summarize Your Plan in Writing  Defining goals, challenges and opportunities  Acquisition  Activation  Usage  Retention  Development  Market insight Stiel Direct LLC 17
  18. 18. Part II: Create Your Tactical Plan Strategies to Tactics Tactics to Sales  Translate your strategies into  Types of Tactics: tactical “To-do’s”  Developmental  Tactics must be:  Communication  Effective – must achieve the  Creation goals  Implementation  Efficient – must use  Consummation resources wisely  Finalizing Stiel Direct LLC 18
  19. 19. Development Tactics Examples  Developmental tactics might include:  Product development  Opening New Stores & Markets  Building a web store  Remodeling  Vendor sourcing  Employee training Stiel Direct LLC 19
  20. 20. Communication Tactics Old School – still works New School – the Wild West  In-store merchandising  Social Media  A new logo or signage  Viral Marketing  Direct Marketing  Special Events/Community  Web Ordering  Mobi – phones, iPads, et al.  Advertising  Google  Newspaper  On-line  Magazine  Broadcast  Yellow Pages Stiel Direct LLC 20
  21. 21. Communications Basics  What do you want your audience to do?  Where are they?  What do they want from you?  Build your value-proposition  Tell your story  Engagement. Get noticed!  Ask for the sale!  Exceed customer expectations! Stiel Direct LLC 21
  22. 22. "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 Stiel Direct LLC 22

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