All posts by davidsoxman

Branding, Communication, Marketing

Five Steps to an Effective Marketing Plan

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Plan blueprint

I’ll just start this post with some quotes I dug up:

“All you need is the plan, the road map, and the courage to press on to your destination.”

Earl Nightingale (1921-1989) American Radio Announcer, Author & Speaker

“A good plan today is better than a perfect plan tomorrow.”
George S. Patton (1885-1945) American Army General, WWII

“The beginning is the most important part of the work.”

Plato  (BC 427-BC 347) Greek philosopher.

Okay, no more famous dead people quotes but there’s nothing here that any of us don’t already know, it’s just easier said than done.  Many times we just don’t know where to begin, or if we do, we need a guide to help us along the way.  Most important though, it’s better just to get something down in writing.  By writing it down, it memorializes your thoughts and makes commitments to your goals much more definable.

So, where does one begin when putting together an effective marketing plan?

I have outlined below some very general, basic steps to follow to help you get started. Knowing that there are many very smart people out there, I prefer to use the wisdom of two authors, Roman G. Hiebing, Jr. and Scott W. Cooper from their third addition of “The Successful Marketing Plan” for reference.

Step One-Business Review

This first step is probably the most involved and perhaps the most important as this entails building the database that you will use year after year as your benchmark.  Various sources for gathering this data exist, not the least of which are your own sales records and will include analysis of your company, your competitors, your product and the marketplace respective to whom you are trying to target.  It is also important to look at the philosophy of your company, your goals and aspirations, and how you want to make a difference.  Your business plan is a great place to start but you may need to do secondary research from industry reports. Surveys and focus groups are also sometimes involved. From this research you can start to analyze your Problems and Opportunities.  Some people refer to this as the SWOT analysis (stands for Strengths, Weaknesses, Opportunities and Threats).  The more information you can include here, the better.

Step Two-Marketing Objectives and Sales Objectives

No plan works without clearly defined and measurable objectives.  With the thorough understanding of your target market and its demographics and buying patterns, you articulate what it is you want this target market to do.  What action do you want your target market to take?  How will the target market use your product or service and what are their buying cycles and habits?  Once you’ve established what you want them to do (your marketing objectives) you can now quantify how these actions translate into sales and profits.  If you haven’t defined exactly what kind of sales you hope to achieve, it will be difficult to know how the plan is performing.  What kind of sales must you have to make a profit and stay in business?  What kinds of margins are you able to command?  Be as specific as possible.

Step Three-Plan Strategies and Communication Goals

Here you are defining the desired perception of your product or service within your target market relative to your competition.  This is brand positioning and helps you decide how you will communicate with the target, what awareness and attitudes will be necessary to deliver on your defined objectives.  While the marketing objectives above are specific, quantifiable and measurable, the marketing strategies explain how these objectives will be met and will guide the tactical marketing tools you establish later in your plan.

Step Four-Tactical Marketing Mix Tools

It’s not uncommon for many business owners to jump right to this step.  Do you need a new website?  Is email or social media a better way to go?  Should you buy television advertising time or use outdoor billboards?  Will ads in trade magazines build more awareness?  If you have done a good job in the previous steps, this step should almost build itself.  You will have a clearer understanding of what marketing tools to use with the information formulated above.

Step Five-Budgets, Payback Analysis & Calendar

Clearly you must know what the execution of the plan is expected to cost as well as whether your plan’s marketing programs will generate the projected revenues that will exceed expenses.  This is also the step where you establish the calendar of when certain tactical activities will take place.  It is here that you can establish those tactical activities that should bring about a faster result and therefore a quicker return on the investment versus tactical activities where the results are longer term.  This kind of prioritization will determine your calendar.  It is important to stick to this calendar and budget in order to track the plan’s overall effectiveness.

If it seems like the seventy hours per week you are already putting in simply doesn’t allow time for creating this kind of marketing plan, don’t feel alone.  It is where my passion for helping business owners took me and why I offer to help with this important business process.

Feel free to contact me if you have questions or comments.

Next time I’ll talk about your Marketing Plan Execution.

Branding, Communication, Marketing

Article-Based Advertising Can Get Results

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Classical booksEveryone loves the storyteller who captures our minds and tickles our desire to be entertained, to be carried away to a world that only exists in our imaginations.  It’s what makes the classics so accessible and worth reading; their creators were incredible storytellers.  I wrote a recent blog about how to use storytelling in your marketing,  but there is a recent post about a two year consumer preference survey which supports this concept of creating content on the Internet that can help build brand awareness and drive sales if written as an article or in a story-based form versus other methods of online advertising.

Jack Loechner, writing for the Center for Media Research, sites a two year study conducted by the Opinion Research Corporation whose results show that “article-based advertising was preferred by 53% of respondents who said they are ‘very likely’ or ‘somewhat likely’ to read and act upon the material, compared to 51% a year ago.”  And of the age demographic of 25 to 34, there was a 66% favorable reaction.  Even the affluent, those making in excess of $75,000 per year, showed a 60% likelihood of reading and acting upon this kind of content.  These results far outdistanced other methods of Internet advertising like pop-up ads and sponsored search.

In examining closer, we find that this two year study was sponsored by Adfusion, which is a company that writes “advertorials” for their clients that are placed in publications around the country.  These are stories that are made to appear as articles but are really brand promotions.  This could cause us to invalidate these survey results; however I believe that would be a hasty conclusion.

I am not saying that when writing a blog, article, or newsletter, that there should be a blatant self-promotion or an attempt to fool people into believing that they are reading a legitimate article when in reality it is simply brand advertising.

What I am saying is that if you provide value through the telling of a story, and your readers find it interesting, then you will likely see a positive reaction to your brand. This in turn can support the other methods of direct advertising which are a part of your overall media mix and as the survey above shows, can bring measurable results.

What are your thoughts?

Marketing, Social Media

Marketing ROI: Is It All About The Low Hanging Fruit?

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“I want the marketing dollars I spend to have an immediate impact.  I need to be able to see sales go up within the first thirty days or I’m unlikely to continue with it.”

“I’ve never been able to see how using Twitter, Facebook, LinkedIn or blogging can increase the leads I receive.”

“Is there any way to get my phone to ring more?”

“I’m really only interested in going after the low hanging fruit, something that will pay for my efforts right away.  After that, I’ll figure something else out.”

We live in a world of instant gratification.  We learn to move on quickly if we’re not immediately entertained.  Wall Street demands quarterly results. If something takes too long, it’s just not worth it.

I have been accused at times of quoting Seth Godin too much.  I don’t really mean to other than I am a regular reader and I truly believe he is one of the innovative thinkers of our time.  So, please forgive my idolatry.

In “Driveby Culture and the Endless Search for Wow,” Seth poses the question of whether as marketers we should be focused on getting and measuring the number of eyeballs that view our content or whether we should be concerned about those people who have a true interest, who want to listen, who may actually become long-term customers.

I’ve always tried to emphasize to business owners that what ever marketing efforts are made, it is ultimately about sales and profits, otherwise why expend the energy?  And, I am also a proponent of prioritizing efforts so that at least you can garner the “low hanging fruit,” so you can see some immediate results.  But, I am also quick to point out that many other marketing efforts, especially those where you are trying to build a dialog, a relationship with people who can help spread your brand, people who will be your proponents, will definitely take time and patience. Sometimes a Return on Investment or ROI is not measured short-term in more leads or calls.

Do you agree?

Communication, Marketing, Social Media

Marketing Communications: Why Is Everybody Always Yelling At Me?

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man with megaphone yelling

There they were, two kids standing toe to toe and nose to nose, with faces beet red, cheeks puffed out, sweat dripping from their forehead, fists clenched to their side, and even though they weren’t more than a few inches from each other, their voices were raised in a mutual fortissimo that could be heard a block away.  The idea, of course: Speak louder than the other guy and win the argument.  This scene is a very funny thing to watch because as we all know, it just doesn’t work.  A whole lot of time and energy gets wasted.  Sound familiar?

I talk with business owners who are just getting into the “social media” game and of course they will ask my opinion on what they’ve done.  Many get caught in the trap of not being able to step outside of the mindset that social media tools should be used for promoting the business, to help people understand what it is about their company that is better than anything else out there.  And this extends beyond just social media to most other forms of communication.  Websites, billboards, brochures, television spots, email all are used as just another method of repeating their marketing message only louder, more often, to more people and oh yea, did I say LOUDER.  It is very hard to break old habits but it’s an absolute necessity.

We are yelled at all day, from so many sources, all standing about two inches from us trying as hard as possible to get our attention by yelling louder than anyone else, yet the effectiveness of this diminishes with each passing day.  As a species, we are developing greater capabilities for ignoring the noise.

As Seth Godin says, “The goal shouldn’t be to have a lot of people to yell at, the goal probably should be to have a lot of people who choose to listen.”

Here are some ideas that might be different:

  • Instead of telling someone about your product or service, ask them what they need or what is on their mind
  • Use Twitter, Facebook, your blog, your website, email, etc. to start a conversation
  • Stop promoting yourself
  • Invite comments, even if they disagree
  • Let people understand what it is about YOU that they might find interesting or be able to relate with
  • Build trust
  • Tell what is happening in your industry and what is your take on it
  • Mention interesting books, blogs or articles that you have read
  • Strive to give more than you get

What are your thoughts or what might you add to this list?

Communication, Marketing

I Knew in an Instant, Did You?

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It seemed so obvious just by looking at his face.  You could see the glint in his eyes, the slight up curl of his top lip resembling the snarl a cat gets just after eating the mouse.  This guy was cool, not a drop of perspiration.  He was guilty, you knew it and he knew it, and he was relishing the fact that he had fooled everybody.  Your gut was telling you, this guy did it, but with the wealth of testimonies, charts, diagrams, witness depositions, and all other types of evidence, the jury found him innocent.  How was it that with all that information available, they could make such an obviously bad decision?

This is a fictitious story however we have all been there.  How many times has your gut told you, don’t do this, you’ll regret it, but after you thought about it, weighed all of the possible outcomes you made a decision that turned out to be the wrong one?

This is the gist of Malcom Gladwell’s book “Blink” (after his best seller “The Tipping Point”).  When confronted with lots of information, humans can and often do make dreadfully wrong decisions.  The part of our unconscious brain that processes information very quickly and undetectable to us, the part that is a necessary hereditary trait that has kept our species in existence, is remarkably accurate.  It is our instinct, or our gut, that sometimes we choose to ignore because we’ve been taught to pause, gather information and deliberate before making a decision.

I don’t think it was Mr. Gladwell’s contention that we only rely on instinct to make decisions and I urge you to read his book to find out when deliberate conscious thought is better, however I believe he makes an important point relative to how good marketing can help or hurt this process of decision making.

In marketing collateral, signage, websites and other forms of communication, it never ceases to amaze me just how much information companies feel they need to include.  We are absolutely inundated with information and choices and yet we’re expected to sort through all of the possibilities and make the correct decision to take action.  More is better, right?  Worse yet, with too many choices, we will sometimes choose not to choose: paralysis by analysis.

As Mr. Gladwell says, “The key to good decision making is not knowledge. It is understanding. We are swimming in the former. We are desperately lacking in the latter.”

Here’s what I recommend:

  • Don’t be afraid to have “white space” in your marketing communications.
  • Strive not to present too many choices or force a lot of information on your potential customer.
  • Keep it simple and more than likely, their “instinct” about you and your product or service will be correct.
  • Help them to understand how your product or service will make their life easier or better.

I’d love to know your thoughts.