Starting Your Marketing Plan

So you you've been updating your Twitter account like a good kid, posting to Facebook often, but not too often, you make sure your blog and your web site always have fresh content, and you may finally get that press release done this week. For some reason, though, you feel like none of this is helping. The traffic just isn't coming.

Planning Essentials: Photo: Flicker user JacQueLyne

Why?

Because it's not part of a larger marketing strategy. Twitter, Facebook, blogs, web site, and PR are tactics, not strategies.  These tools play their part to support a larger plan. If you don't have a larger plan, then won't realize their true potential to grow your business.

OK, so now what?


I like to lay out an annual plan, mapping out the year and determining some major themes. Marketing events might include promotions around holidays, the launch of a catalog, a major web site update, and a quarterly PR push. This is also a good time to think about new product that will be launching in the next year, where that goes on your marketing calendar and what you'll be doing around it.

"But, I can't possibly think of every single tweet, Facebook update, or blog post I'm going to do for the next year!" you say.

And you're right. You'll plan those things out on a daily, weekly, or monthly basis, depending on how you prefer to work. It's important, now, though, to lay out your year so you can see what needs to be done in advance. For example, if you're launching a major new product line in the next year, you'll need to build in time to update your web site, put together a new catalog, write a press release, and make sure the rest of your online properties are updated.

Your Takeaway?

Set a goal to put together a marketing plan for 2012 by the end of October. Think about what your major campaigns will be, and what you'll need to do to execute them. I'm happy to review what you've put together and offer my feedback. You can connect to me on twitter at @leahibraheem or on LinkedIn here.

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Creating Your Marketing Plan

You've got a Facebook page, a blog, a twitter account, and a web site. You send out emails, do press releases when you can find the time, and you made a New Years' resolution to update your direct mail program and get on top of your SEO.

But how are you connecting all of these things?
photo © 2005 Francis Bijl | more info (via: Wylio)

Does your SEO support your press releases and your new product launches? Is your twitter feed engaging customers about the same deals you're promoting on your email newsletter? How do you keep everything straight?

This is where a basic marketing plan can help you get organized about how you invest your marketing time and money. First, list all of your marketing channels. Channels are ways of engaging with your audience. Channels include things like direct mail, PR, advertising, web site, email, Facebook, etc.

I like to map out each week with related promotions for clients. That way, if we take the time to update the web site, videos, and in-store merchandising, our press releases, advertising, and social marketing all support those investments. Since we know what we'll be promoting in a strong, multi-channel way, it's also easier to forecast what will be selling best each week.

Too many channels? I can help.

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Don't Rickroll Your Audience - Try this Instead

For those of you who haven't had the pleasure, getting rickrolled means that you've clicked on a link to content that interests you, only to get Rick Astley's "Never Gonna Give You Up" video.

Why am I talking about this now? Rickrolling is so 2008.

Because thousands of businesses rickroll potential customers every day.

How?

Rick Astley.
Flickr user chinnian

1.  Say you really need to move some polka-dot sweaters this week, so you advertise a great deal on them. Unfortunately, you send users to your home page, where the sweaters aren't promoted. Users have to use your menus to get to apparel, then women's, then sweaters, then polka-dot. Congratulations, you've just annoyed the crap out of your customers, and most have given up.

Don't rickroll - link directly to your deal!

2. Say you've just discovered that your product, baby powder, repels ants like nothing you've ever seen. So you do some promotions targeted to people interested in beating their ant problem. Unfortunately, you send these folks to your regular baby powder page, which is all about beating diaper rash. Is this the same stuff that makes ants go away? Your customers don't know. They leave empty-handed, feeling confused.

Don't rickroll - match your audience to your content with tailored landing pages.

3. Say you've created a great new diet solution. You place an online ad that says "Avoid these five foods, and lose weight today!" Lots of people click on this ad, but these five dastardly foods are nowhere to be seen. Instead, there's a video of indeterminate length (Are the five foods in there? Do I have time to watch this now?) and a exhortation to join your paid diet plan web site.

Don't rickroll - provide the content you've promised and people will want more.

Need help matching your deals, your content, and your audience? Let me know.

Setting Your Price Without Screwing Yourself

How much should you charge?

This is a hugely important question. How much you charge for your product or service affects everything - how much you profit, how much you're able to pay your employees and vendors, how much you can spend on supplies, marketing, and everything else.

So how do you decide?

First, it's time for some competitive analysis. Once you determine who your major competitors are, do a thorough check of all of their pricing. What do they charge online? Is it different if you call or go into a store?

What does their pricing really include? What should your pricing include?

photo © 2008 Paul Falardeau | more info (via: Wylio)


Some of your competitors probably charge a little more and include some extras. Some charge a little less and use a more a-la-carte plan. These extras should make for happier customers with more loyalty to your brand. This is what's behind L.L. Bean's recent decision to include free shipping on every order. Watch out, though -  if you include too many extras, you can't stay in business.

By the same token, price yourself too cheap, and you just can't generate the cashflow to stay solvent (like former apparel retailer Steve and  Barry's).

So now what?

Say you do  decide to go the L.L. Bean route and include free shipping on every order. Can you really do this? If you're not sure, ask your financial analyst (or hire a financial analyst - it's worth it) to do a full rundown on how much including shipping in every order would really cost you. If you find you can't afford to include shipping on every order, are there certain orders where it's better to include free shipping?

Like maybe for first-time customers, or customers referred by other customers? Or your most loyal customers? Or customers who spend a certain amount? Or even customers ordering your clearance items?

You can do (or have someone do) a financial analysis on each of these scenarios, according to your current order pattern. Then, you'll see what each might cost you.

What about pricing on everything else?

Run the numbers. What can you afford to charge? You'll want to leave room in your regular pricing for a sale, should you need to discount items later to move them. If you're charging far more or far less than the average price, you should have a good idea as to why. Is your product better than others like it and that's why it costs more? Is it handmade? Made in the USA? Environmentally friendly?

When you charge less, customers want to know what that is too.

Oh yes they do. I promise. So why are you charging less? Do you negotiate the best prices from your suppliers? Use super-efficient manufacturing methods? Buy from a variety of vendors so you're always getting the best price? Concentrate on really low overhead?

Finally, always be willing to change.

If your current pricing strategy isn't working, change it. You might find you're not charging enough for some things and too much for others. Keep analyzing and testing until you get to where it works.

Does the thought of a pricing strategy give you the shakes? Let me know, I can help.

Why Marketing is not Sales

One endless source of confusion for business owners is the difference between marketing and sales. As I said in my first post:

Marketing is NOT sales. Marketing is your sales strategy. Marketing is a disciplined plan as to how you will identify your audience, assess their unmet needs, and communicate to them how your service or product can meet those needs.

Basically, Marketing is the how of how you sell. It's strategic:

• Determining where your business exists in the competitive space;
• Defining your unique offering;
• Clarifying your brand; and
• Defining your audience...

And it's also tactical:

• Developing lists of contacts;
• Creating or updating your online presence;
• Designing other marketing materials if you need them;
• Creating your marketing calendar; and
• Executing that calendar

To have great sales, you must support your sales activities with a strong marketing strategy.

So here's the first question. Where are you in the competitive space? Who are the other players and what do they offer right now? How are they getting the word out?

OK, that was three questions.

You'll need to figure out the answers to them all (or ask for help).  I'll tell you more about competitive analysis in a future post.

What IS Marketing?

Some of my clients are small businesses - tiny businesses, in fact. My clients in these tiny businesses are experts at what they do - and they do amazing things all the time. They are some of the smartest, most innovative, most creative people I know. But marketing gives them the shakes. What is it about marketing that's so scary? Here are a few common misconceptions people have about marketing and a few hints about how to get started:


1) Marketing is NOT sales. Marketing is your sales strategy. Marketing is a disciplined plan as to how you will identify your audience, assess their unmet needs, and communicate to them how your service or product can meet those needs.


2) Marketing is NOT rocket science. See above. It's about planning, getting organized, and executing. You already know your customers and you already know your product. Now you just have to get the two together.


3) Marketing is NOT impossible! See 1 &2. Be organized, be disciplined, and be action-oriented. Each step you take gets your customers closer to your product.


4) You don't have to go it alone. You can begin with Ad Age's list of 150 best marketing blogs or work with a marketing consultant like me to make a plan and get it done.