The Key to a Positive Future for your Business
In this episode you will learn:
- What is a Comprehensive Marketing Plan?
- What is it not?
- Why it’s important?
- What can a Comprehensive Marketing Plan do for you?
- How do you use it?
Understand what a Comprehensive Marketing Plan is and why it is the most important part of your Business Plan.
Listen to or download the audio Podcast via Soundcloud:
Watch the video here:
Jesse Stoddard: 00:03
Jesse Stoddard here of Stoddard Consulting, let’s talk about Your Comprehensive Marketing Plan, what it is and what it isn’t, why it’s important, what it can do for you, and how do you use it? First of all, what is your marketing plan? It puts your money making ideas down on paper so you can schedule them and make them real. It is the most important part of your business plan because it has to do with acquiring and keeping customers for profit. Because of this, it is the key to a positive future for your business. It is what sets you apart from your competitors. It includes everything you can think of concerning marketing at a strategic level. It helps you control your revenue expenses, budget and customer acquisition costs, and finally, it is a living and breathing document that you refer to often and teach your team and vendors about so that they are on the same sheet of music with you.
Jesse Stoddard: 01:01
What your marketing plan is not. It does not own you. You own it. You’re not a prisoner of it. You’re in control. It’s not a puff piece or nice corporate promotional piece to file away in a drawer somewhere to be forgotten. It is not my plan or your SEO company’s marching orders or other advertising agency or vendors, internal process that you can ignore. It is your plan to use to make sure everyone is doing what you want them to do and when you want them to do it, it is not designed to make it so you never have to think about marketing again. On the contrary, it is designed to get you thinking about and clarifying your revenue, generating ideas more for a bigger and brighter future. Why? Your marketing plan is important. You’re not in the fill in the blank business. You’re not in the plumbing business, the personal training business, the Internet services business.
Jesse Stoddard: 01:57
You’re not in the making of the widget business. You are in the marketing of fill in the blank business. The doing of the thing is the easiest thing to duplicate, the easiest thing to outsource, the easiest thing to hire or train and hire for and the marketing and the sales and the big ideas of the business are the hardest things to duplicate and you don’t want to do that. You don’t want to abdicate responsibility because you want to retain ownership of two basic things when you are the entrepreneur, the marketing, and the checkbook. You can get help with those two things. Definitely get help with those things, but ultimately you need to make the final decision so you can delegate a few things but never abdicate responsibility. And the marketing of the business is the most important thing.
Jesse Stoddard: 02:44
Without new customers and revenue, everything else comes to a screeching halt. You need a predictable, reliable, executable marketing system to create true leverage and have a true business instead of a job that can stand the test of time. You are constantly bombarded with advertising and marketing questions and decisions. The plan helps you to make those decisions quickly and with more confidence. What your marketing plan can do for you. It helps you quickly and efficiently answer marketing and advertising questions you have when vendors, in other words, executor’s come to you offering to create an ad. You don’t have to have long conversations about your business. You simply refer them to specific areas of the plan that pertained to them. It helps you create and maintain a budget. It brings all your ideas and strategies together and integrates them for unification. It helps you predict the future by planning for the future and getting more done and finally, and most importantly, it gives you clarity. Now how to use your marketing plan? First,
Jesse Stoddard: 03:51
Be involved and read every single sentence of your plan and make sure it makes you excited and that you approve of it. Get very clear about your goals and make sure they are accurately represented in the plan. Involve everyone in your company and making the decisions about marketing and marketing in general because they are all marketing all day long. Whether they realize it or not, every interaction with a customer, every time somebody picks up a phone, every incoming email that’s responded with an outgoing email, every text, every time someone shows up to deliver the product or service, it’s all marketing at all is going to affect referrals, reviews, testimonials, the perception in the mind of the consumer. It’s all marketing, so you need to involve your team. Begin using parts of the plan to teach your team what a good job looks like and get them involved. Revisit the plan no less than once per year to evaluate, update, and revise where necessary. Make sure the key players on your marketing team, internally and externally are living and breathing the document on a consistent basis and finally introduce advertisers to the parts of the plan that may pertain to their projects. This has been Jesse. That is a quick overview of what your marketing plan is, what it can do for you, what it’s not, and how to make the most out of it.