By: Jan Wellborn-Nichols
www.zeromillion.com
If marketing is everything you do
to place your product (or service) in the hands of potential
customers, how do you do it all -- the advertising marketing plan? It
helps to have a plan.
An
advertising marketing plan is more than your
map for success. It's actually a map-making process that when complete
will reveal a clear route to your prospective customers.
A good map reveals specific items
of information. A good advertising marketing plan should do the same for you. Here
are six things your marketing plan should help you accomplish.
1) Prove that you understand your
industry. Knowing your product isn't enough.
2) Identify your target market.
These are the people most likely to buy your product or use your
services.
3) Identify your competition.
Who's out there and what are they doing?
4) Establish your pricing,
distribution, and product positioning. How much will it cost plus a
fair profit? How will you get it there? And where do you fit into the
marketplace?
5) Get someone to subsidize your
dream. If you want to attract investors, a written marketing plan is
essential.
6) Focus on a single effective
marketing concept. Define your strongest strength and lead with that.
For example, Little Caesar's "pizza pizza" may not be the most
innovative idea ever conceived -- but it's certainly one of the more
effective. Why? Because it's simple and consistent.
Here are the major components that
you should consider when writing your advertising marketing plan.
Mission (or vision)
statement:
This is an external
communication of your company's values. Like Admiral Stockdale, you're
answering the question, "Who am I and what am I doing here".
Company objective:
This section communicates what you want to do, by when, and how (what
are your resources?). It is specific, quantifiable, and is inclusive
of your entire company. It is not merely a sales goal. If you're an
entrepreneur, your company objective might also serve as your
marketing objective.
Market analysis:
This section reports on the findings of the extensive research
that you have pursued and prepared. You need to discuss various
factors of the market environment in relation to your product. These
factors include legal, social, political, economic, and technological
considerations.
Target audience:
Based on your research, discuss who your customers are and how you can
reach them. Here's where you decide whether to niche or not, or to
segment your audience either vertically or horizontally.
Competitive analysis:
Your advance research should reveal your competitors, the obvious and
especially the others. How does what they're doing relate to your
product? What advantages do you have? How can you keep the advantage?
Action plan:
As Shakespeare said, "Action is eloquence". You've made your map. Now
you can define the best route to reach your customers. This section of
your marketing plan outlines what media mix you'll use to reach your
audience. Advertising -- where, how often, and at what cost. Public
relations -- specific programs and promotions of interest to the
community. Sales strategies -- incentive programs for representatives
and distributors as well as prospective customers.
A successful advertising marketing plan is based on research and analysis. But
because information can be manipulated to prove almost anything,
insight is equally important. As Edward de Bono says, "Proof is often
no more than a lack of imagination".
