Marketing planning
– essential as presents under the tree
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With a New Year just around the corner, now is the time to think about your marketing plan. Planning is crucial to success, but is one of those jobs that is easily put off until tomorrow.
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6 top tips for planning: |
| 1. | Start with your objectives, not your budget |
| 2. | Look at what’s going on around you |
| 3. | Assess your strengths and weaknesses |
| 4. |
Develop a plan to support your objectives and strategy |
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Write it down - a written plan represents a greater commitment than a mental note |
| 6. |
Communicate your plan to your team
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| 7. |
Monitor your performance – don’t just file it in a drawer!
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Your plan doesn’t have to be a tome, but it is important that you think about what is going to influence your business in 2008 and how you can make the most of every opportunity.
Start with the big picture: the general consensus is that the economy is going to slow down next year and everybody will have less money to spend.
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Do you just give up or do you plan to win every piece of business that is going? Who are your competitors and what are they doing? What influence will your suppliers have on your own competitiveness?
Think about what else is going on that might represent an opportunity or a threat. Are there trends or developments in the market that you need to react to?
Once you’ve worked out what is going on, you’re in a position to look at your own strengths and weaknesses and set some clear objectives for the year. These might relate to turnover and new customer numbers and could also include specific goals, such as opening in a new location or launching a new product.
With your objectives set, you’re ready to think about the things you need to do. Remember, marketing is more than just promotional activity: you need to review your pricing strategy; your distribution and your products and services. You should also think about your people and processes to maximise sales, reduce costs and improve the customer experience.
If you can do all this in your head, good luck! Lesser mortals will need to write it down.
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Best wishes
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ASK THE EYE:
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What are the key elements of a marketing plan?
How often should the plan be reviewed?
If you've got a question about marketing planning why not Ask the eye? It's free!
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IN NEXT MONTH'S
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Find out next month how to promote your business through positive PR ...
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