Marketing Plan How-To

SO YOU WANT TO WRITE A MARKETING PLAN A How-To Guide for the not-so marketing minded TAMARA HANCOCK

YOU'VE STARTED A BUSINESS! Maybe you have a really cool service, or you've invented the most effective toilet-bowl cleaner anyone has ever seen. Now, you want to sell that product or service to the world! GREAT! But ... how are you going to get the word out about your product in a way that will catch the attention of others, stay consistent with your message, and hopefully - not cost you your entire startup budget. Thousands of entrepreneurs just like yourself struggle with marketing every day. Don't worry, though. With the right marketing strategy, you can break away and stand out.

BUT, WHAT'S A MARKETING PLAN? Well - let's first start with what it is not. 1.A Marketing Plan is not a set-out strategy of fliers, social media posts, and written copy. 2.It is not a full-fledged media presence in video and written media (Super-bowl ads, anyone?) 3.And, it is definitely not hiring a sky-writing flying duo to air-paint your messages across the sky. A Marketing Plan IS: 1.Determining the allocation of resources available for marketing activities. 2.Market research in your particular demographic. 3.An analysis of your business's competitive threats, and strengths.

Don't worry - even seasoned professionals get a little nervous when it comes to the word \"analysis\". It's one of those scary words High School English teachers used when they wanted us to understand Shakespeare. However, analysis is an important part of knowing who and what to target in the demographic you're selling to, and the money you have available to reach them. Don't worry, I won't tell your teacher that you are using the research and analysis skills she taught you. It will be our secret. ANALY-WHAT NOW?

OK, I GET IT, BUT IS IT NECESSARY? In a word, Maybe. Marketing plans are helpful but not required by all business startups. However, if you plan to ask for funding from an investor, or if you are incorporated as an LLC, or, if you report to a board of directors...then yes, you'll need one.

FINE. WHAT GOES IN IT? There are four main pieces in a marketing plan: 1. The 360 View 2. The What 3. The How 4. The Snapshot

1. TAKE ME THROUGH THE 360... Who is your demographic? Why do you want to sell to them? What's the market like for your particular service/widget/offering? Who are your competitors? Does anyone have a donut???? There are a lot of questions to consider, but a successful marketing plan will ask them anyway. Things to consider for your 360 view: 1. Market trends and market size projections 2. Geographic Region you plan to serve 3. Competition in this market for your product. 4. Customer data from pre-launch sales (or market research data based on customer reviews) 5. Demographic segment statements: a. revenue level of the customer base b. Industry expectations c. common threads of customer groups

2. WHAT THE WHAT??? You know how sometimes you want to say something, and you know exactly what it is - but no one around you can figure it out because they can't read your mind? Well - a marketing plan is giving your investors and partners an insight into your brain. You'll include your marketing vision statement, mission statement, and objectives, Be specific and marketing-focused - and keep it breif. 4- 6 key objectives is a good enough start.

3. HOW? Now it is time to strategize ... kind of. This is probably the most feared section - but never fear - there are experts standing by to take your call, or at least, you can phone a friend. In this section, you are going to determine what your objectives are, and then some HIGH-level tactics to help you achieve that. Be specific, and make sure you identify the WHAT and WHEN in your objectives. Example: Reach 500 new Instagram followers by end of Quarter 3. As for your tactic - this is where the friend comes in handy. Consult with other marketing experts - get an idea of what it may take - and then find 2-3 tactics per objective. Example: 1. Post and engage three times daily with target accounts. 2. Hire my teenager to teach me.

4. TAKE A PICTURE? no - a Snapshot. This section of your plan will include all that financial data and analysis you've been gathering. This is where you wow the bean-counters with facts and forecasts. Things to consider including: 1. Revenue thus far 2. Lead count 3. cost per lead current/projected 4. Brand awareness 5. number of press mentions 6. website / social media metrics

ANYTHING ELSE TO CONSIDER? Well, since you asked. 1.DO Keep your plan clear and organized. Headers, subheaders, and charts should be clean and orderly. 2.DO Keep your language professional, but simple. Don't use high-dollar industry words that a potential investor may not understand. 3.DO use graphics and charts to illustrate points that aren't easily understood. 4.DON'T makeup or invent data. Show real numbers. 5.DON'T make unrealistic objectives.

Publish. Once it is all pulled together, you can publish it in whatever format best suits your business meeting agenda. Do you need to print hard copies with a clear report cover a la 8th grade? Do you have a website that is interactive that you can post the plan to? Do you need to create a powerpoint or other presentation? Whatever it is, this is the time for your plan to shine, and, don't worry, you got this. OKAY, SO I FINISH ALL THAT AND NOW WHAT?

CONGRATULATIONS. YOU'VE BUILT A MARKETING PLAN!