detail may be appropriate.
Basic Marketing Plan Content
Include a summary at the beginning. Like any business report, your plan write-up should begin with a summary. The traditional executive summary is one option. I prefer to include — either in addition to or instead of the executive summary — a one-page table. The table makes everyday use of your plan easier. In one glance you can be reminded of your main challenge, objective, strategies, and tactics as well as budgets and deadlines. Also, as your plan evolves throughout the year, the table makes it easier to strategically modify the plan.
Explain your reasoning. Make some reference to why you chose the specific objective(s) and strategies in your plan. This will make it easier to justify the plan to others (if necessary). It will also help you make smarter, strategic decisions.
Identify your target customers. By doing so, you will be …
The hardest part of calculating CLV is figuring out exactly what your customers’ “lifetime” really is…. and the only accurate way to arrive at that number is by getting, storing and analyzing your customers’ data. Period. If you’ve been in business for a while, this should be easy to get, but if you’re a start-up you’re going to have to estimate this based on industry standards.
Although there are several ways to arrive at CLV, the easiest is to calculate:
- The average length of time a customer stays your customer
- The number of transactions that an average customer will have with you during that time and
- The average dollar amount per transaction
Multiply these together and you’ll arrive at a usable number. But remember, junk in, junk out… so make sure your original numbers are accurate!
Once established, you can use your CLV as a benchmark for developing a realistic …
The Internet and its advancing technology are significantly changing the way marketers reach consumers. In most cases, the cost to use these newer tools and tactics is within range for most independent innovators and entrepreneurs. The hardest part may be choosing which method to use.
Your first step is to familiarize yourself with the possibilities. Next, you will need to become more techno savvy or find a talented computer consultant. While the consultant can cost a fair amount, consider creative ways of working with such a person: Bartering or offering a percent of your profits for a limited amount of time are just two options. You also may need to consider enlisting the help of other professionals or talented amateurs looking for opportunities. Photographers, writers and videographers are a few that come to mind. Again, before you protest the potential cost, look for low-budget options in your area. Local community …
Some of the leading brand names and makers of banners stands world wide are Nomadic Displays, Nimlok, Octanorm, Discount Displays.com, Apple rock, Accura imaging, IMEX display, Alco Cutaways, Art-tech productions, Exhibit works, Display wizard, Redcliffe imaging and Magicpak.
Some overseas manufactures include Ask4plastic made by Ym-Display from China. Also Alibaba.com lists a number of overseas manufactures from the Far East like Admax Exhibition system from Shanghai, Dingyi display equipment limited (China) and Infotech.M.ltd from Korea.
A typical range of products from these manufacturers shows great versatility and style. At Display Wizard, there are a range of vinyl banner stands to suit every budget and taste. Their banner stands include scrolling banners, rollup banners, traditional banners, Cigogne tensioned cable fabric banners and flexible fabric banners.
Redcliffe Imaging has a wide range of beautiful and useful banner stand models. Starting with the cartridge banner graphic replace system (that allows quick changes of …
In other words, if the product or service you provide is truly of benefit to others, then marketing becomes a duty. Not spreading the word is irresponsible and unethical.
Of course, the opposite is also true. If you have a product or service with no real benefit, then to actively market it would be irresponsible as well. If deep down you have doubts as to whether what you’re providing is of real value, you’ll probably sabotage yourself in your marketing efforts. I see this all the time among small business owners — they often don’t believe enough in their products to aggressively market them. So they hold back and fill their days with non-marketing activities instead. Doing too much marketing makes them feel uncomfortable.
I’m not advocating trying to fool yourself into believing in your product/service when you don’t. I’m suggesting you consult your conscience to see what you already …
This latent tendency to be sales focused coupled with companies’ insistence on paying sales people for performance (i.e. commission) has kept “salesmanship” alive and well. Don’t gasp, because I think that deep down we all know this, and quite frankly, it’s not necessarily a bad thing. Not bad if used and managed properly, that is, and since we are never going to escape the need to do sales on some level, let’s explore.
The most worn salesmen cliché is of the used car salesman selling cream puffs and delivering lemons. What makes this model wrong? It is legal for a salesperson or company to use some hyperbole when promoting its products. It is also a known fact that most products and services are not the best in their given industry. The title of best can only go to a handful. What’s wrong is that the promise, or expectation, far exceeded …
Once the market is divided up, the company with the larger share is likely to continue to take business away from the smaller company.
The bigger company can afford a bigger advertising budget, a bigger research department, more sales outlets, etc. No wonder the rich get richer and the poor get poorer.
Is there no future for the small competitor? Of course there is which one reason why this book was written is. (General Motors, General Electric, and IBM don’t need to study Clausewitz to be successful.)
But smaller companies with smaller market shares do need to think like field commanders. They must keep in mind the first principle of warfare, the principle of force, be it military or marketing. “The art of war with a numerically inferior army,” said Napoleon “consists in always having larger forces than the enemy at the point which is to be attacked or defended.”…
Well, it’s hard to squeeze a message into 30 seconds. Near impossible. Yet, as a home business owner you MUST do it. And you must do it effectively if you want to leave a lasting impression.
“On whom,” you ask?
On anyone and everyone you meet.
So, I always recommend that every home-based entrepreneur come up with his or her own “30 Second Face-to-Face Commercial.” Word of mouth is your most powerful source of advertising. And it’s free. But what better place to take a cue from than the $2.6 million sound bites on Super Bowl Sunday.
In 30 seconds you don’t have time for detail. Instead, you need to communicate the key messages of who you are, what benefit you provide and how your customers should feel about you.
Some commercials do it… Take FedEx’s pre-historic slant on safe, reliable delivery.
Some commercials don’t… Remember the cat in …
Well run surveys are still vital to those companies who wish to research a market and obtain feedback on particular products or services. Many people are willing to express an opinion, and a small incentive like a chance to win a prize or a small payment is often all that is required to encourage people to give up their time and participate.
For years market research companies have assembled groups of participants into survey pools or survey panels, groups of people willing to provide an opinion on a range of subjects. Often incentives of nominal value were offered as a ‘thank you’ for the participant’s time; however the explosion of ‘paid for taking surveys’ websites has spawned a new profession – the professional survey participant (PSP).
For companies that are relying on market research generated by panels of PSP’s the question they must ask is how flawed is the data …