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Mark: Hi it’s Mark of Top Local Lead Generation and we’re here with business coach, John Nieuwenburg, we’re going to talk about how to market your business. How’re you doing today John?
John: I’m doing great, thanks very much. How about you Mark?
Mark: I’m good. So what is a tactical marketing plan?
John: You know last week, we starting talking about how we get started a client engagement and I spoke about two of the three sections of a typical engagement. The first of which is a revenue and profit plan and the second is building out your USP or your Unique Selling Proposition, and the third part is a tactical marketing plan. So to go back to the revenue and profit plan, we reverse engineer starting from what you want to take out of the business, at what level of profit or however you want to take money out of the business and work backwards from there through the seven levers, the seven different key performance indicators in a business to work up to how many prospects do you need in order to reach your level of profitability or the amount of money you want to take out of the business. Once you’ve worked out the financial details, then we want to work out a tactical marketing plan which is what specific ways, what specific tactics will you use to drive out the results that you want in the revenue and profit plan. So there’s a long, long list, 300 things that a typical business could do and of the 300 I’m going to tell you or suggest that at least 250 for most businesses are junk or garbage or not relevant and so the key thing to do is to organize down to the 50 that should be considered. When considering a marketing plan, a guide line that I like to use is a thing called a ten by ten which means that we have ten strategies each producing 10% of the leads or the improvement that you need. Now I say that and it makes it sound like it’s neat and tidy it almost never works as smoothly as what I’ve said but as a concept it’s a great idea to have more than the 2 or 3 strategies most businesses are using because you know, it’s too narrow and will likely lead to trouble if one of the, or two or three strategies that a business is using stops being effective. So when you spread out over ten you have much more flexibility and have many more options if you need to make an adjustment. When thinking about a ten by ten the strategies ought to consider three dynamics. So as an example, will the strategy you are choosing give you results in the short term or the long term. So something short term would be for example Google Ad Words or Facebook Ad Words, you could probably get a result pretty immediately. Something like networking might take you three to six to twelve months before you get a result. Secondly, you want to think about money expensive versus time expensive.
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