Don’t Face a New Business or New Markets Without a Strategic Marketing Plan
One of the Main Reasons Businesses Fail: Lack of an Effective Marketing Plan
Whether you’re planning a new business launch or looking to take your existing business to an entirely new level, you’ll turbo-charge your chances for success with a solid marketing plan.
A strategic marketing plan carefully answers the questions, “What am I going to produce, for whom, and how will I promote and sell it to them?” It is a strategic document based on your company, your goals, offering, markets and customers.
Your plan lays out how you’ll approach the market so your actions and expenditures are more likely to get the results you want.
What a Strategic Marketing Plan Does, and Who Needs One
A strategic marketing plan is designed for businesses where the general market strategy is not yet determined.
It provides a comprehensive road map for your business, addressing which markets you will serve and how you will position and promote your offering.
The marketing section of a business plan often contains (or should contain) a strategic marketing plan.
You should have this kind of plan if you:
Are an entrepreneur or business owner in the pre-launch or start-up phase.
Own an existing business and you’re planning to launch completely a new product/service initiative unlike your existing line.
You are entering a brand new market, perhaps with unfamiliar distribution channels–even if it’s with the same line you offer in another market segment.
Without a well-developed strategy document with corresponding tactical recommendations, chances are you will waste a lot of time and money. Or worse, you may exhaust your resources before you can achieve your business goals.
“Tim is an incredible marketer, innovative change agent and results oriented. He brings many years of experience to developing high powered marketing solutions for small to mid size companies. He is one of the few marketing gurus that uses marketing to create more money coming in than going out!
That is why so many people hire Tim to be their marketing expert. I have recommended him to many people, and he always delivers superior results!” –George Ishee, CEO, PlumTree Marketing
Strategic Marketing Plan Overview
We develop your plan in stages. It begins with an assessment process where you provide detailed information through an executive interview and diagnostic survey. Then we conduct market research and formulate preliminary recommendations. We bring this information to an in-person planning session with you and your executive team that runs at least one full day and possibly part of another.
The planning session is an exhaustive but exciting process. We conduct a “master mind” style meeting during which we work with you to brainstorm a wide variety of possible strategies.
Together, we discuss your options and then narrow them down into a feasible plan outline. The next step occurs off-site as we write your plan. We present the finished document to you in another executive session, conducted either in-person or via web-based technology.
Objectives for Your Planning Process
Listen to you. We want to fully understand you, your goals, strengths and vision. Your plan should reflect the person behind the business, so the process begins with a personal interview and discussion about you.
Build your strategic foundation. Your marketing should be based on key foundational documents that define your company and your place in the market. Examples of these include your mission statement, vision statement, value proposition, branding and positioning strategy. If these elements already exist, we incorporate them into the marketing plan. If they do not exist, then we help you develop them.
Research your market and industry. The basis of a good plan is good research. We review secondary sources that bear on your market and industry. In addition, if necessary, we recommend and can coordinate primary research (e.g. focus group research or customer surveys).
Establish achievable objectives. The purpose of any plan is to achieve a goal. Your plan should include specific, measurable goals in mind. If you haven’t already identified objectives, we help you define them.
Formulate marketing strategy and tactics. Working with you, we review relevant information and discuss possible options. Then we develop appropriate strategy and actions geared toward your business and goals.
Prepare the written plan. Write a plan that helps you make a compelling case to investors, lenders, business partners or other interested parties.
Present the plan and make revisions. Following a detailed presentation of the plan to you and/or your executive team, we fine-tune the plan to achieve final document status.
Provide follow-up coaching to move you to the next steps. Once the plan is completed, it’s important that you move successfully into plan implementation. We support you with focused coaching designed to keep you on track.