You know the quote: Failing to plan is planning to fail. Benjamin Franklin.
So how is 2015 planning progressing for your business? And, specifically, how is the marketing plan coming?
Next Monday is December 1st!
So here are some recommendations to help you get started on documenting the strategy for 2015, defining the business goals and then developing the marketing plan to get you on the right path for a great 2015.
Note this will be tougher if you have NEVER had a marketing plan. If you had a marketing plan in place for 2014, then leverage that as your starting point.
Below are 8 steps to get started on a useful plan:
1. Define and document your strategic objectives. What are the top 1-3 things you MUST accomplish next year? (Not tactics. Strategic objectives.)
2. Identify the resources needed to achieve these objectives. (people, money, processes, partners, new clients). Keeping at a high level, what is it going to take to get you where you want to be?
3. How will success be measured? If possible, identify intermediate metrics for success along the way and then ultimate success metrics. (revenue, # new clients, margin, # of new square footage operational in the new facility, etc.)
note: with key business goals defined, then the marketing plan can start taking shape…
4. Define the fundamental focus of the marketing effort. In other words, is the focus increasing awareness, generating leads and acquiring new clients? Perhaps retaining existing clients and acquiring new clients to support your growth strategy? Are you introducing a new product line that marketing will be critical in announcing and bringing to market? Clearly define the priority and the marketing strategy that will support the above business objectives.
5. The marketing plan needs to be developed within a budget. Any increase from this year? Know what range you are working with to avoid the frustrations of building a masterpiece only to learn your masterpiece has to be re-done to fit the approved budget. Document the assumptions and as details are developed, code each. Suggested coding would be critical (critical strategically), important (fundamental work that needs to happen) and nice to have (not essential, but would be beneficial). With this coding, if budget money becomes available during the year, you know where the money will be funneled vs. late nights preparing for a board meeting figuring out how to build your compelling story of why marketing should get a slice of the pie!
6. With a defined marketing strategy and a budget, phase the marketing plan. We start with defining the marketing priorities by quarter – then breaking that down into months. This keeps you aligned with the overall business objectives and enables you and your team to not lose the forest through the trees. Stay strategic.
7. Revisit the marketing foundation. As part of the marketing plan, there are ongoing foundational elements that require ongoing marketing work. The Dream list is never done. What capabilities or services lack the support of compelling client solution briefs and testimonials? Make sure your plan does not lose focus on efforts to strengthen the marketing foundation in the new year. Weave this work into the marketing plan.
8. Summarize the marketing plan on one page. If the executive summary is clear and solid, the detailed plan will be that much better. Just like an elevator pitch can be the most challenging part of messaging work given its brevity, the same is true for a one page summary. It forces us to clearly and concisely present the plan that is then detailed across many pages.
It’s getting late in November. If your fiscal year is a calendar year, you need to get going to be set up for success come January 2. If you are running a business without a business plan and without a marketing plan, maybe it’s time to think about your New Year’s Resolution now. After all, as Peter Drucker says: “What gets measured, gets managed.”
A solid plan is a great way to get ready for 2015. No time like the present to get started.
For Marketing Matters Weblog 