CHECKLIST APPROACH
TO CREATING A MARKETING PLAN
By Henry DeVries
Developing a plan to market and promote
your business takes time, effort, and a dedication that most
new entrepreneurs, or busy established businesses think they
don’t have.
But without a map to guide you to your
ultimate destination, treacherous roadblocks and time-consuming
detours can keep you from reaching your goals. Try not to
look at planning as an obligatory to do, but as a way to
solve tangible problems like improving cash flow, generating
new business, overcoming ill will, and meeting customer deadlines.
Think of it as a way to solve problems before they arise.
Don’t leave your life of the success of your business
to chance.
Planning doesn’t stop once you open
your business, close the deal, or win the account. It’s
a constant process that demands concentration and hard work,
but the payoff is worth it. By applying the planning techniques
that sophisticated public relations and marketing professionals
use to position their company, promote their cause, or sell
their product, you can improve your business, advance your
career, and improve every other facet of your life.
Let’s work at developing a rudimentary
marketing plan. Marketing plays a vital role in successful
business ventures, yet its systematic implementation is often
overlooked by many small businesses.
Sure, every business owner has his repertoire
of marketing gimmicks, but I’ve noticed over the years
that the majority of small businesses operate without formal
business plans, let alone some semblance of a marketing strategy.
If you’re one whose total marketing
efforts include a yellow-page advertisement, some outdoor
signage and an occasional flyer, this short marketing course
is for you.
Too many individuals believe that the
tactical plan—the newsletters, press kits, trade shows,
banners, 800-numbers, display advertisements, logos and give-aways—come
before the strategic plan. Those promotional, publicity and
advertising tactics—and there are hundreds to choose
from—should be contained within a well-orchestrated
marketing plan.
A marketing plan is a strategy best contained
in a formal document, not on a cocktail napkin or recalled
from memory. Approach this checklist as though you were compiling
a simple report.
Each subsection requires an appropriate
entry. You—the business owner—should write a few
paragraphs for each topic. When finished, you’ll have
a basic marketing plan.
The executive
summary consists of a one-page top level summary
of the entire plan. It’s placed at the front of the
document, but it’s the last thing you’ll write.
Its purpose is to convey the gist of the plan to stakeholders,
investors, and anyone else who needs to know the facts
in a hurry
The scope
of the plan is a paragraph that outlines 1) the
product or service being marketed; 2) for whom the plan
is being prepared; 3) the time period the plan covers;
and 4) the geographic area where the implementation occurs.
The corporate
profile introduces the company and includes: 1)
a brief overview of the product or service; 2) a brief
overview of the personnel involved; 3) a past history of
the company; 4) its present performance; and 5) financial
information if appropriate.
The product
or service profile provides information regarding
the specific items you intend to market. By addressing
the following categories, a profile emerges. They include:
- Position Statement—the
niche the product or service is intended to occupy.
- Description—the
product or service described in detail.
- Pricing—the
methods used to establish pricing. Questions such as “will
discounts be offered?” are asked.
- Market Maturity—the
overall market maturity is addressed.
- Quality/Reliability—What
level of quality is being portrayed? What’s the
relation to price?
- New Market Potential—the
potential size of the market is assessed.
- Delivery of Service—an
explanation of the service delivery mechanism is given.
- Packaging—includes
overall presentation of the product or service and its
delivery.
- Image—the
impression customers receive from employees, furnishings,
stationary, etc.
It’s important to identify the target
audience, or the customers you intend to reach.
Provide specific information about the people your company
considers its clients.
It’s also important to identify user
trends, or those changes in the market that can
create opportunities for your company.
A brief summary of a past sales
performance should be given. Why do you think you
were successful in the past? Look at issues related to
growth which include: 1) seasonal sales performance; 2)
cyclical or repeating patterns; and 3) an evaluation of
what has been done by others trying to market this type
of product or service.
The type of competition you
face in the marketplace should be addressed. Insight here
will help you understand why certain competitors have done
so well or so poorly, and why, and how, your competition
can create opportunities for you.
An assumption of the uncontrollable elements
in the marketing environment, or what we call marketing
considerations, should be offered. These assumptions
include, for example, anticipation of radical changes in
the social, political or economic environment. Hopefully,
you’ll be able to identify realistic challenges you
can expect to face in the marketplace.
What are your objectives—what
do you intend to accomplish in the next six months? One year?
Five years? Elaborate on your marketing objectives and attempt
to assign some kind of figure to market share, growth, and
market penetration.
You’ll need some type of research to
complete your plan, but have no fear—plenty is available.
Secondary research is broad research that has been conducted
by others, and is found at libraries and on Internet Web
sites. Take advantage of it. Primary research is that which
you collect specific to your particular endeavor (more expensive
to obtain). Getting the number of Buick owners in San Diego
from DMV records is considered secondary research. Counting
them at intersections is primary.
Next, the tools, training, and support
needed to accomplish the sales objectives—or what’s
called your sales support strategy—needs
to be addressed.
Last, you’ll need to establish some
type of budget in order
to execute your marketing plan.
If you manage to write two or three paragraphs
for each of the topics, you’ll end up with at least
a 10-page marketing plan. From there, you can refine your
objectives. More important though, you’ve taken a big
step forward because you’ve written your strategy down
on paper.
It’s said, “if you don’t
know where you are going, you might not get there.” But
you’re ahead of the game, because this marketing plan
is your blueprint to success.
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Copyright© New Client Marketing Institute
2000 – 2003. You may reprint this article in any publication
or Web site as long as you credit Henry DeVries as the author
and include his Web site address, www.henrydevries.com.
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