The most successful businesses have a strategic marketing plan in place and they refer to it often. They use it as a living document and not something that sits on the shelf collecting dust.
When developing your strategic marketing plan your first priority should be how you weight the different marketing activities available. Here is a suggested breakdown for you to consider when developing your strategic marketing plan:
Spend about 50% of your time and money on a combination of marketing through organizations and referral marketing.
Spend about 20% of your time and money on doing things related to speaking and teaching and seminar marketing. This part of your strategic marketing plan includes your solo seminars as well as those that you joint venture with accountants and other niche technology providers.
Third priority in your strategic marketing plan is direct mail. Plan to spend about 20% of your time and money on direct mail. Here, targeting is extremely important. In fact targeting is a factor for consideration with all of the elements in your strategic marketing plan.
The last and smallest facet of your strategic marketing plan should be the marketing activities that tend to work for some and not for others. These are all the other types of marketing activities available from door hangers and telemarketing to targeting specific industries. This part of your strategic marketing plan will include a lot of hit and miss items but you won't know what works until you actually test it.
Bottom Line on Strategic Marketing Plans
Start thinking about building your strategic marketing plan at the very beginning of your business planning exercises. Your strategic marketing plan will hold you on course as you wind your way through the many different marketing techniques available. If you follow the percentages above, your strategic marketing plan will force you to concentrate on proven marketing strategies and only pursue the most risky alternatives in small amounts.
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Strategic Marketing Plan Example
When devising an internet marketing plan, there are several things you need to take into consideration and carefully decide upon.
Due to the unlimited amount of internet marketing information available, it's important to remain focused on just one at a time. It's very easy to get lost in the world of internet marketing. There is such a vast amount of information that it's easy to become overwhelmed., don't let it happen to you.
Here are a few steps to take into consideration when setting up a strategic internet marketing plan.
** Decide WHAT you want to sell - an eBook? Software, Video or Audio files? A service?
** Select WHERE you will get this product - will you create it yourself or pay someone to make it for you?
** Decide WHO you will sell it to - define your target market.
** Know WHY these people would want to buy your product - tapping into people's emotions and needs will bring you success.
** Decide HOW you are going to get the word out about your product - your marketing method.
1. What is it that you want people to do first.
If you know what you want your visitors to do, you need to give them a starting point. Realize that once someone visits your website, or sees your ad, the odds of them visiting again are quite low unless you have a unique and compelling website.
So the first thing you want to do in any business is to set up a plan to create leads. You can do that online by creating a database. You will need to offer something of value in exchange to create a list of prospects. Remember, most people don't say yes the first time, so by exposing them to your marketing message, your chances increase because they see the value your provide them.
2. Which benefits do you want to emphasize to get your prospects to take the MWA (Most Wanted Action)?
You need to provide something of value that will provide a solution to your visitor and something that is of value. This is an important element of a strategic marketing plan.
Determine who is in your target audience, who are you speaking to? You speak differently to different people, so you want to tailor your message accordingly. Are you targeting retirees, golfers, high school students, stay at home moms, working women, soccer fans? You will speak differently and communicate differently, so know who your niche market is and create a virtual snapshot of your ideal customer.
3. What Niche Will You Target?
Realize that the internet is a vast place and people are interested in specific topics, not general subject. Create a niche that offers value and serves your market well.
4. What's Your Marketing Budget?
A marketing budget need not be millions of dollars like a large company. It could simply be $50, which could be enough to register a domain name, get a hosting account and few dollars for online ads. It can be as large as you want. Also, consider not only money but your time, how much time will you spend to get your new internet venture producing income.
Remember, it is extremely important to plan how you will succeed online. Take into account your own personal goals. Then go ahead and fill in the gaps of the above steps which will give you a pathway to follow.
Sure, you can add and change things along the way, but laying the groundwork down in the beginning by setting up a strategic internet marketing plan will put you light years ahead of someone who has failed to plan.
The Who, What, Where, Why and How are the five questions you need to answer before beginning your internet marketing endeavors. Once you have a sound internet marketing plan, you can take action and begin making money from the comfort of your home.
Both Joshua Feinberg & Michelle Greene are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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