Are you planning to fail by failing to plan? How does your marketing plan for 2013 shape up?
Marketing Magic, Marketing Mediocrity or Marketing Mayhem?
It doesn’t have to take a long time or be a fancy excel work book. There are probably more millionaires with a fag-packet-plan in their sock drawer than spreadsheets in their computer. What matters is that you refer to it and update it regularly. So, if you are still putting it off grab yourself an old envelope or scrap of paper and…
1) Divide into 3 columns
2) In the first one list out all the marketing activity you did this year
3) In the next one put the costs associated with each
4) In the final one put the revenue gained from each
There now that wasn’t so bad was it?
Keeping simple records of your marketing expenditure and the associated revenue is really important and is the first step towards developing your plan. It is best if you can put this into an excel spreadsheet and create workbooks for each year – but this is not essential. A paper napkin can be just as effective – just keep it somewhere that’s handy and don’t blow your nose on it!
Having got a basic picture of the return on each marketing investment you now need to plan out what to do next year. Start with the most effective. Be honest, even though some things may be hard to give up you must put your budget into things that work. Roughly 80% should be placed into known profit drivers leaving 20% for trialing new ways to reach your target market. Absolutely forget anything that didn’t pay for itself- that’s just not sustainable.
It is essential to keep adding new ways to your marketing plan and to optimise current trends and seasonal/one off events – eg the Olympics. As a guide you should be aiming for 10 activities each month with the main objective of bringing leads into your sales funnel.
Why not use your loaf? Take the easy option and hire expert help to work out a plan for 2012 with you. Twice the ideas, half the time. Leaving you free to get on with the business of running your business.