How to Build an Actionable Marketing Plan
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The marketing plan outlines goals of acquiring new users and clients to grow business. Key objectives include growing existing clients, using the new offering as an opportunity, elevating the brand, and expanding geographically. Strategies include positioning as the partner of choice through updated materials, thought leadership, and introducing the new offering. Initiatives are outlined quarterly with responsibilities assigned and metrics tied to revenue goals for measurement. A sample budget range based on industry benchmarks is also provided.
How to Build an Actionable Marketing Plan
- 1. How to Build an Actionable Marketing Plan
- 3. 1. Strategy and initiatives are not based on the business goal and supporting objectives 2. Lack of prioritization 3. No assigned responsibilities 4. Measurement is not tied to goal 5. No defined budget for each major initiative
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- 7. Goal: 100 users as part of ABC by end of 2016, ultimately want 1,000 by 2021 Objectives: • Grow business from existing clients • Use ABC as a door opener to acquire new clients who are likely to purchase other services • Elevate brand recognition and differentiate X from competitors • Increase ability to get into new geographical markets
- 8. Overarching Strategy: Introduce X to Central Ohio as the ABC partner of choice for small businesses. Supporting Strategies: • Build/enhance offline and online materials to position X as the small business Y. • Create and push thought leadership that educates small businesses on the value of Y. • Formally introduce ABC to the market. • Continue to raise awareness/visibility of the ABC solution.
- 9. Goal: Increase year/year sales revenue by 20% Objectives: • Increase gross margin and net income without increasing expenses • Continue to focus on optimizing operations • Enhance ability to attract and retain quality employees • Elevate brand recognition
- 10. Overarching Strategy: Continue to establish X as the ABC provider of choice in Columbus Supporting Strategies: • Continue to build consistent and cohesive brand • Cultivate relationships with customers and prospects • Elevate awareness of capabilities locally and nationally • Position X as an ideal workplace for employees
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- 15. Right Audience + Messages + Channels Audience Messages ONLINE • Email • Webinars • SEM • Online ads • Social • Blogs • Digital media coverage • Reviews ASSETS • RESOURCES OFFLINE • Advertising • Media and analyst coverage • Direct mail • Community • Awards and speaking • Events • Internal communications
- 16. • Plan and host at least one client appreciation event • Implement direct mail/email campaigns (minimum of three) tied to specific service offerings that leverage case studies and collateral ‒ E.g., Create and push tip sheet on how to choose a VAS partner • Create a calendar for regular client engagement and stewardship • Enhance and maintain client database • Plan and host event with Columbus Chamber Logistics Council Strategy #2: Cultivate relationships with customers and prospects
- 18. Initiative Q1 Q2 Q3 Q4 ABC Offering & Team Communication • Crystallize offering for pilot launch • Educate/ communicate with team Refine offering based on pilot and feedback • Launch offering • Define launch timeline/plan Website & Collateral • Website • Brochure • ABC presentation • Refine all collateral as needed • Success stories Media Relations & Social Media • Launch media efforts • Post updates on Bob’s profile • Continue media relations • Update LinkedIn • Continue posts • Begin Pulse • Continue media relations • Continue posts and Pulse contributions • Continue media relations • Continue posts and Pulse contributions Thought Leadership (White papers, speaking, events, infographics, blog, video) • White paper • Identify/begin to pursue speaking engagements • Begin to pursue 2 partner referral events • Infographic • LinkedIn 3 training • Video • Continue to pursue speaking engagements • Secure events • Continue to pursue speaking engagements • Secure events • Continue to pursue speaking engagements • Secure events
- 23. Measuring Success Start with no more than 8 key performance indicators, including 3 that are directly tied to revenue: – Marketing originated customer (% new revenue from a marketing-generated lead) – Marketing influenced customer – Total rate of growth – Sales tool effectiveness – Messaging effectiveness – Reputation/share of voice vs. competition – Sales-ready leads – Organic search
- 25. • Budget what’s most comfortable – start to track how much it costs to acquire a new customer • Some industry benchmarks ‒ For B2B, marketing budgets as a % of revenue fall within the 5-6% range ‒ For B2C, marketing budgets as a % of revenue fall within the 11-13% range • If you have a focused strategy, you can do a lot with your budget Your Budget