Chapter Twelve - How To Create A Strategic Marketing Plan And Take Action - Carol Goedken

"We Wish We Had Known - Everyday Tips from Consultants To Grow Your Business"

#Marketing
#Strategic Planning

"How To Create A Strategic Marketing Plan And Take Action"

Carol Goedken

Action Marketing, LLC
Chief Marketing Strategist
ActionMarketingStrategy.com carol@actionmarketingstrategy.com

The first step to creating an action-oriented strategic marketing plan is to hold a brainstorming session to review the elements of the plan. You can do this yourself by following the structure presented below or you can engage a facilitator to guide the process.

      The product and/or service, market and launch tactics should be reviewed at the brainstorming session. Set a three-hour limit for the session as this should be enough time to effectively brainstorm ideas in each area of the plan.

      Key participants who are working on the business should be involved in this session. It is best to have all functional areas represented but be careful about having over-representation from any one area as this might skew the discussion. Include participants who have knowledge about the current markets served, as well as participants who have knowledge about new markets you are considering. It might also be valuable to include participants who are not involved in your business. Participants should come with an open mind to explore new ways of thinking about the organization.

      A facilitator or a volunteer participant should be assigned to take notes with the goal of developing a working document to serve as an action-oriented strategic marketing plan. A timeline should also be created for further exploration and implementation.

      The next section is an outline of the format of the brainstorming session, split into the two major components – strategy and tactics.

STRATEGY: Products, Markets and Marketing

·       Objectives of the Organization

·       Product Overview

o   Product Description/Features and Benefits

o   Key Product Weaknesses

o   Future Product Development

·       Market Analysis

o   Product Category/Competition

o   Market Size/Target Customer

·       Marketing Strategy: Create a competitive advantage.

·       Name and Branding Strategy: Your name and identity should be memorable. Create your unique positioning:

 

COMPANY NAME is the best WHAT for WHO because WHY Example: Action Marketing is the best resource for a company that wants to build a strategic plan with a unique identity and competitive advantage because Carol Goedken has experience growing companies and launching new products.

·       Positioning: How do you compare to other products?

·       Pricing Strategy: Is your offering low cost or high value?

·       Sales Strategy: How will you reach prospects to purchase?

 

TACTICS: Review current materials, tactics and suggestions for the most cost-effective revisions and future tactics. For new products or markets, this session could evolve into a launch plan.

Collateral	Direct Marketing	Advertising
Social Media	Public Relations	Trade Shows
Market Research	Third Party Relations	Website

 

SUMMARY:Prepare initial financial projections, timeline, and challenges/risks to evaluate viability.

CAROL GOEDKEN

       Experienced executive with proven track record of growing companies and specializing in launching new products.

      Typical projects have included finalizing the product, developing positioning and copy, and executing product launches.

      Created a sales/marketing plan for a start-up educational software company. Executed a project completion plan to release the product which included finalizing the product’s feature set, setting the pricing strategy and managing release milestones. Managed the launch of the product at a major trade show and executed a tactical plan including public relations, email campaigns, trade shows, and telemarketing over a 12-month period.

      Transitioned a website from a free service to a paid subscription service through new positioning and revisions. Executed a launch promotion plan on a limited budget including email campaigns, an innovative collateral piece, new trade show tactics, new benefits-oriented advertising, and special promotional offers.

      Created the company identity and marketing plan for a service business, which involved conducting an extensive analysis of the competition, developing new positioning, and producing professional marketing materials and website. Launched an innovative 3D graphics product with a start-up software company. Executed the company's first official trade show within the first 30 days of hire, followed by five shows over the next six months. Finalized the product for shipment, developed collateral and promotional incentives, launched a public relations campaign, and executed direct mail campaigns. Won a national ADDY award for innovative CD/ROM packaging working with design agency.

            Smaller projects have included researching competitive products, writing marketing plans and conducting phone surveys to prospects/ customers for market viability or gathering testimonials.