STOP Building Your Marketing Plan Now!!!

When I ask someone what is their marketing plan the answer usually can be netted out into READY>FIRE>AIM>DID I HIT ANYTHING? 

They started with a “great idea” and invested time, energy and precious resources because someone said just get started. Well how’s that working for you? 

Why Creating an Executive Summary will save you time/money and produce much better results. 

What is an Executive Summary and why should you start first with this step? 

When I work with my clients we develop a Strategic Business Plan. We begin by first identifying where they are and draw a picture of their Roof & Pillars. The Roof represents their high level Goals for example the revenue that they have produced. The Pillars are the Strategic initiatives that are the reasons why the results were produced. Then we create their Three Year Vision to provide focus, direction and consensus. Getting clarity upfront is critical to the process. 

Marketing is normally a Strategic Pillar for most businesses and requires a specific plan. Therefore it is a key component of a detailed business plan. 

When you are beginning a Marketing Plan, most people do too much and make them far too complex to follow. I recommend that you start by creating an Executive Summary that includes the following steps. Until you can clarify the answers to these questions don’t spend another dime on marketing. 

Step 1-What is the defined Target Market? Be specific.

1. It might be your A+ or Tier 1 Clients (said differently these are your Ideal clients and prospects).
2. Drill down and it could be your A+ or Tier 1 Clients and prospects that are business owners.
3. Or more specifically your A+ or Tier 1 Clients and prospects that are business owners in the Construction market.

What is important is that you are crystal clear on whom you are targeting.
 

Step #2 – What are the primary problems of your targeted market?

1. If you are targeting all A+/Tier1 Clients and prospects- it could be the fact that their financial lives are becoming more and more complex as they become more successful.
2. Or if they are business owners in the Construction Industry- it could be the fact that they can not retain high quality management talent needed to meet their plans for business expansion. 

Step #3 – What solutions do you provide that will solve the problem?

1. What specifically do you do to make their financial lives simpler?
2. If they are business owners in a specific industry have you implemented a proven, repeatable approach that produces predictable results? 

Step #4-What is your Target Markets Solutions Process?

1. Have you defined the process so that you can easily explain it to your target market? This is a key leverage point –to have your clients benefit and then be able to articulate your strategy to others so that you can multiply your marketing/sales effectiveness. 

Step #5 –What is your Target Market 90 day action plan and when will you do the first physical action?
 

Step #6- What is the process you follow that will enable you to sustain market penetration? Eventually you need to “own” your market.

Marketing needs to become a core competency. Think of it as salesmanship multiplied. When you have a good marketing function in place it will make your sales force 10 times more powerful/effective than it currently is. Insuring that the process that I have outlined is followed will insure that you have determined the right strategies before executing the right tactics.
 

About ten years ago I coined a term - a “Stratecal” thinker. This is a person who can conceive a strategy and then determines the tactics necessary to bring about extraordinary results. It is important to become one.
 

The facts are that 90% of all people are tactical thinkers. To succeed you must select the right strategies first/ then develop the implementation plan and lastly become focused on strategic execution. Tactics that don’t support an overall strategy are a waste of your time and resources because there is no leverage. If you can honestly say that you fully understand and practice this process then you may claim that you are a “Stratecal” Thinker. Congratulations as that makes you part of less than 10% of all managers that are running businesses today. If you want to learn more please read on:

About Bob Molluro-Has thirty plus years experience in Strategic Business Planning and Execution that Produces Extraordinary Results. Bob is the CEO of Benchmark Consulting Services and has worked on the development of a proprietary business planning methodology for the last 25 years. He developed this system to improve the performance of the businesses that he managed at IBM and Amdahl. He developed a nationwide sales organization from scratch in 1982 that sold over $1.6 Billion in products and services revenue to AT&T over a ten year period. He is a business advisor that has worked directly with 115 businesses, 700 managers and 3,000 sales professionals helping them to understand and easily use his Strategic Business Planning & Execution System. Can his system work for you? You be the judge. For more information go to  www.Vision-In-Action.com.