Have a Happy New Year: Creating Your 2009 Marketing Plan Stacy Armijo & Eric Whittington Pierpont Communications, Inc.

A little about us… Stacy Armijo Eric Whittington

Most Common Marketing Planning Mistakes…

Disconnect from business strategy Deeper than sales targets. Do you really understand where the organization is headed? Think 3 – 5 years out.

Deeper than sales targets.

Do you really understand where the organization is headed?

Think 3 – 5 years out.

Too ambitious Factor “people” needs as well as monetary resources. As long as you think it will take, double it (and you’re getting close). Allow for the unexpected. Leave space to be a superstar.

Factor “people” needs as well as monetary resources.

As long as you think it will take, double it (and you’re getting close).

Allow for the unexpected.

Leave space to be a superstar.

Plan by committee Gain broad buy-in on the strategy, not the plan. Get the CEO’s support early on to fend off “committee think” Minimize personnel involved in tactical decisions and reviews / edits.

Gain broad buy-in on the strategy, not the plan.

Get the CEO’s support early on to fend off “committee think”

Minimize personnel involved in tactical decisions and reviews / edits.

Excluding current customers It’s easy to focus only on acquiring new customers, but… It’s critical to keep the ones you already have While you’re at it, look for opportunities to expand existing client relationships (development) Remember: It’s much easier and cheaper to keep a client than gain a new one and happy customers are your best sales people!

It’s easy to focus only on acquiring new customers, but…

It’s critical to keep the ones you already have

While you’re at it, look for opportunities to expand existing client relationships (development)

Remember: It’s much easier and cheaper to keep a client than gain a new one and happy customers are your best sales people!

Skipping straight to tactics Must set the strategic foundation first…every time. Avoid the “we know that already” trap. Keeps you focused on strategy, particularly when the plan is challenged.

Must set the strategic foundation first…every time.

Avoid the “we know that already” trap.

Keeps you focused on strategy, particularly when the plan is challenged.

Lack of Discipline Good plans too often derailed by “helpers” with good intentions. Marketers sometimes sold too easily by salespeople from media outlets. Urgency to “do something” can overpower methodical planning and due diligence; “ready, fire aim!”

Good plans too often derailed by “helpers” with good intentions.

Marketers sometimes sold too easily by salespeople from media outlets.

Urgency to “do something” can overpower methodical planning and due diligence; “ready, fire aim!”

Lack of metrics The more specific, the better, but anything is helpful. If possible, consider market research (position as a risk mgmt investment). Learn to love numbers because metrics = More budget, credibility

The more specific, the better, but anything is helpful.

If possible, consider market research (position as a risk mgmt investment).

Learn to love numbers because metrics = More budget, credibility

Switching gears too quickly Agree on how long you’ll give the plan (and specific tactics) before changing. If you’re changing marketing strategy every year (or more), time to address the bigger problem.

Agree on how long you’ll give the plan (and specific tactics) before changing.

If you’re changing marketing strategy every year (or more), time to address the bigger problem.

The Marketing Planning Process Research Mission / Vision / Values SWOT analysis Business objectives Audience identification 6. Key message development 7. Marketing strategies 8. Tactics 9. Budget 10. Implementation

Research

Mission / Vision / Values

SWOT analysis

Business objectives

Audience identification

Research Last year’s sales metrics Last year’s marketing metrics Industry research for new ventures New market research

Last year’s sales metrics

Last year’s marketing metrics

Industry research for new ventures

New market research

Vision / Mission / Values If established and meaningful, document them and use them. If not, I recommend moving on.

If established and meaningful, document them and use them.

If not, I recommend moving on.

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

Competitive Analysis Who are your competitors? Think beyond those in your business. How do they compare in market share, services, messages and profile? What can you learn from them? How should you differentiate yourself?

Who are your competitors?

Think beyond those in your business.

How do they compare in market share, services, messages and profile?

What can you learn from them?

How should you differentiate yourself?

Business objectives and goals What are your business objectives and goals? SMART goals: Specific, measurable, attainable, realistic, timely Drive adoption of ACME’s in-motion telecom services among U.S. yacht owners. Achieve maximum valuation in the sale or acquisition of ACME. Enhance ACME’s per-client profitability. Sample Objectives (Qualitative expression) Achieve $2.5 million in revenue in 2009. Earn $10/share for the purchase or acquisition of ACME in 2009. Increase profit for each ACME client to 10% by the end of 2009. Outcomes of the organization Goes back to mission, vision, values Why are we in business? How will we know when we succeed? Sample Goals (Quantitative expression) What is it

Drive adoption of ACME’s in-motion telecom services among U.S. yacht owners.

Achieve maximum valuation in the sale or acquisition of ACME.

Enhance ACME’s per-client profitability.

Achieve $2.5 million in revenue in 2009.

Earn $10/share for the purchase or acquisition of ACME in 2009.

Increase profit for each ACME client to 10% by the end of 2009.

Outcomes of the organization

Goes back to mission, vision, values

Why are we in business?

How will we know when we succeed?

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? Partners Distributors Regulators Investors Employees Industry leaders Analysts Stratify audiences: Primary, secondary, etc.

Partners

Distributors

Regulators

Investors

Employees

Industry leaders

Analysts

Key Message Development Your key messages should answer: Who are you? What do you do? How are you different? How are you better? The Approach Keep it simple – really Test them (formally or informally) Must be compelling and relevant Be consistent, but flexible

Your key messages should answer:

Who are you?

What do you do?

How are you different?

How are you better?

The Approach

Keep it simple – really

Test them (formally or informally)

Must be compelling and relevant

Be consistent, but flexible

Marketing Strategies Turn your outcomes into actions and use your research. For example: Educate U.S. yacht owners regarding the availability and benefit of in-motion telecom services. Build awareness among ACME testing customers of the benefits of the company’s outsourcing services. Attract prospective employees to ACME based on its award-winning associate training program and family-friendly environment. Position ACME as an expert in financial advising for high net worth individuals.

Turn your outcomes into actions and use your research.

For example:

Educate U.S. yacht owners regarding the availability and benefit of in-motion telecom services.

Build awareness among ACME testing customers of the benefits of the company’s outsourcing services.

Attract prospective employees to ACME based on its award-winning associate training program and family-friendly environment.

Position ACME as an expert in financial advising for high net worth individuals.

Marketing Tactics So many options… Web Site Email marketing Pay-per-click advertising Search engine optimization Media relations Event marketing Webinars Events Sponsorships Advertising (all types) Community relations Direct mail Tips for evaluating: Does it reach my target audience? What will I gain (leads, awareness, recognition as an industry expert)? Does it give me an opportunity to spread my key messages? How will it affect the perception of my company? What is the cost versus the benefit?

So many options…

Web Site

Email marketing

Pay-per-click advertising

Search engine optimization

Media relations

Event marketing

Webinars

Events

Sponsorships

Advertising (all types)

Community relations

Direct mail

Tips for evaluating:

Does it reach my target audience?

What will I gain (leads, awareness, recognition as an industry expert)?

Does it give me an opportunity to spread my key messages?

How will it affect the perception of my company?

What is the cost versus the benefit?

Marketing Budget Be as specific as possible. Consider “people” resources (more staff, temp support, external agencies). Leave some wiggle room. Track expenses closely all year for accurate budgeting in 2010.

Be as specific as possible.

Consider “people” resources (more staff, temp support, external agencies).

Leave some wiggle room.

Track expenses closely all year for accurate budgeting in 2010.

Implementation Create specific action plans with clear deadlines and responsibilities. Use the Implementation Plan as a working document all year long. Consider a monthly scorecard that tracks your metrics. Adjust throughout the year, if necessary. Keep detailed reports of tactical effectiveness for use planning next year.

Create specific action plans with clear deadlines and responsibilities.

Use the Implementation Plan as a working document all year long.

Consider a monthly scorecard that tracks your metrics.

Adjust throughout the year, if necessary.

Keep detailed reports of tactical effectiveness for use planning next year.

Process Review Research Mission / Vision / Values SWOT analysis Business objectives Audience identification 6. Key message development 7. Marketing strategies 8. Budget 9. Implementation

Research

Mission / Vision / Values

SWOT analysis

Business objectives

Audience identification

Tips for Success Connect your plan to the business strategy. Plan resources – people and money – conservatively. Gain top-level buy-in and hold the process close. Include current customers. Take time for the strategy. Follow a disciplined approach. Instill metrics throughout. Give it time to work.

Connect your plan to the business strategy.

Plan resources – people and money – conservatively.

Gain top-level buy-in and hold the process close.

Include current customers.

Take time for the strategy.

Follow a disciplined approach.

Instill metrics throughout.

Give it time to work.

Questions? Call us… Stacy Armijo 512-448-4950 [email_address] Eric Whittington 210-372-9200 [email_address]