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Ten steps to a strong marketing plan in 2010
By mgrizio1
Do you have a plan to hit the field running in 2010? Successful financial professionals have one thing in common: a well-organized, strategic marketing plan for growing their business. While everyone wants to get behind the curtain and see what magical plans and strategies these agents have planned for the year, there's really no substitute for creating a marketing plan that is unique to you. Fortunately, there are several common threads that bind every successful plan. The first step is simply to create one.
Here are 10 ways to develop and organize a successful marketing plan for 2010:
Take time out. To create a successful plan for your business, you need time to reflect and research. Getting out of your typical work environment for a few hours by heading to your favorite coffee shop, or simply shutting the door in your home office can provide the quiet and stimulation you need to get started.
Involve your team. If you have a support staff, include them in your planning. As they say, two minds are better than one. You may be surprised at the creative ideas your staff offers. Be sure to let them know that all ideas are valued and appreciated.
Assess your business. Prior to creating your marketing plan, reflect on the types of marketing activities you've done in the past. Ask yourself what marketing strategies worked, what didn't, and why. Know your strengths and play toward them.
Know your target market. Understand what prospects will offer you the greatest potential to grow your business. To do this, you must know your market inside and out. Whom do you serve? What products/services do you provide to this market segment? What are your barriers to reaching this market? How can you overcome these barriers?
Create a plan. Putting together a written plan is crucial to your success. Once your plan is complete, print a copy of it and put it some place where you can look at it regularly.
Develop clear goals. While they say the devil is in the details, don't get sidetracked by attempting to create the perfect marketing plan. Be simple and concise. List three main goals you want to accomplish for the year, and create strategies to move you toward your goals.
Choose a range of strategies. The "how-to" behind achieving your goals will require a process that blends the elements of strategy and creativity. While crafting ads and creating compelling brochures provides tangible collateral, these tools must be integrated within an effective strategy. For example, if one of your goals is to create a customized brochure, what's your strategy for getting that brochure into the right hands at the right time?
Set clear timelines. You won't be able to accomplish everything immediately. Establishing a timeline -- typically done on a quarterly basis -- will not only help you stay on track, but help you budget effectively.
Keep track of costs. Industry statistics hint that marketing budgets should be 20 percent to 25 percent of your revenue. If you're investing that amount of money, it's only wise to create a detailed allocation plan. Some strategies, like seminars, will require initial outlays of cash, while others, like networking, will require minimal expenditures.
Monitor progress. At a minimum, you should review your marketing goals quarterly to track progress. Allow yourself flexibility to make changes as necessary. Ongoing monitoring can help you course-correct if necessary, or perhaps focus more energy on a particular strategy that may be proving more effective.
It's time to get geared up for a strong start to 2010. Know your strengths, plan your strategies, and get ready to hit the field.
*For further information, or to contact this author, please leave a comment and your e-mail address in the forum below.
Here are 10 ways to develop and organize a successful marketing plan for 2010:
Take time out. To create a successful plan for your business, you need time to reflect and research. Getting out of your typical work environment for a few hours by heading to your favorite coffee shop, or simply shutting the door in your home office can provide the quiet and stimulation you need to get started.
Involve your team. If you have a support staff, include them in your planning. As they say, two minds are better than one. You may be surprised at the creative ideas your staff offers. Be sure to let them know that all ideas are valued and appreciated.
Assess your business. Prior to creating your marketing plan, reflect on the types of marketing activities you've done in the past. Ask yourself what marketing strategies worked, what didn't, and why. Know your strengths and play toward them.
Know your target market. Understand what prospects will offer you the greatest potential to grow your business. To do this, you must know your market inside and out. Whom do you serve? What products/services do you provide to this market segment? What are your barriers to reaching this market? How can you overcome these barriers?
Create a plan. Putting together a written plan is crucial to your success. Once your plan is complete, print a copy of it and put it some place where you can look at it regularly.
Develop clear goals. While they say the devil is in the details, don't get sidetracked by attempting to create the perfect marketing plan. Be simple and concise. List three main goals you want to accomplish for the year, and create strategies to move you toward your goals.
Choose a range of strategies. The "how-to" behind achieving your goals will require a process that blends the elements of strategy and creativity. While crafting ads and creating compelling brochures provides tangible collateral, these tools must be integrated within an effective strategy. For example, if one of your goals is to create a customized brochure, what's your strategy for getting that brochure into the right hands at the right time?
Set clear timelines. You won't be able to accomplish everything immediately. Establishing a timeline -- typically done on a quarterly basis -- will not only help you stay on track, but help you budget effectively.
Keep track of costs. Industry statistics hint that marketing budgets should be 20 percent to 25 percent of your revenue. If you're investing that amount of money, it's only wise to create a detailed allocation plan. Some strategies, like seminars, will require initial outlays of cash, while others, like networking, will require minimal expenditures.
Monitor progress. At a minimum, you should review your marketing goals quarterly to track progress. Allow yourself flexibility to make changes as necessary. Ongoing monitoring can help you course-correct if necessary, or perhaps focus more energy on a particular strategy that may be proving more effective.
It's time to get geared up for a strong start to 2010. Know your strengths, plan your strategies, and get ready to hit the field.
*For further information, or to contact this author, please leave a comment and your e-mail address in the forum below.
