MARKETING PLANS… “It’s Your Business, Let’s Build It!”
Your largest expense in your marketing plan this year most likely will be your cost for advertising. Think about it, this number covers advertising space in newspapers, magazines and billboards, airtime on television and radio, internet web pages, as well as other traditional and non-traditional forms of advertising. Since it will be such a large portion of your budget you will want to manage it closely, and treat it as you would other investments in your business. To this end, create a plan with set goals and an outline on how these goals will be met. Break your task list into easy daily, weekly, monthly, and annual objectives and to-dos.
A Good Marketing Plan Will Consider All The Elements…
Flyers, Brochures, Logos, Advertising, Public Relations, Corporate Branding, Event Marketing, Word of Mouth, Publicity, Sponsorships, Pricing, Market Research, Direct Mail, Sales Promotions, Newsletters, Product Testing, Employee Training and Motivation, Advertising Specialty Items, Product Distribution, Media Sales and Much More.
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Set your marketing plan by these basic categories: Goals, Clients, Budget, Strategy, and Media. One trick to following this plan is to chart it on a blank calendar. Note each media you are purchasing and the contracted amount by month. Make notations monthly on the calendar pertaining to size of your ad, specials, promotions, events and sales. Note on the side of each month any external information that
may have contributed to a good or bad sales month. Such things may include the weather, economic conditions, or recalls of your product. This calendar will serve as history gauge from year to year and will assist you in designing future marketing plans.
Since your advertising budget is an investment just like any other, treat it as such. You would never already done for you, right? So why would you consider purchasing your advertising without examining the exact same thing? The calendar notes you make give you a gauge on past performance and will help you make better advertising and investing decisions in the future. Watch for next month’s advice on “Managing Your Marketing Plan”.