5 Steps to Creating a Highly Effective Marketing Plan
Posted in Business Marketing Plan on 05. Apr, 2010
The great Harvey MacKay once said, “Failures don’t plan to fail, they fail to plan.” Those words could not be more true, especially when it comes to building your network marketing business. Do you have a marketing plan? Or are you just running around trying to see if you can figure it out along the way? If your answer is the latter, you may want to rethink your strategy.
As I move through the final part of my MBA program, I have realized that there are a variety of ways to get things done when it comes to business. I personally prefer to do something the simplest way possible – as long as it is highly effective. I value my time and yours, so I thought I would create a post that would give you the simplest, yet most effective way to create your marketing plan. It’s not too complicated (which is the way I like it) so you should be able to to take this outline and run with it… and I really hope that you do! If you’re following a plan, you’re almost always going to be more efficient and effective in your business building efforts because it’s like having a roadmap to reach your goals.
Here are my 5 steps to creating a highly effective marketing plan:
1. Determine your budget and set your goals. When I say “budget” I’m not just talking about money – I’m also talking about time! You see, I LOVE free marketing strategies like Facebook and Twitter. But, just because they don’t cost you any money doesn’t mean they won’t cost you time. In fact, usually it’s the free marketing strategies that cost the most time, in comparison to the paid ones. So, if you want to tackle some paid marketing strategies – how much money can you budget towards your marketing plan each month? If you’ve got more time than money (or plan on using a combination of both paid and free strategies), then how much time do you have to devote to your efforts each month? And finally, what are the goals of your marketing campaign? Do you want X number of leads and X number of new people sponsored in your business? Write it all down and be specific!
2. Determine your target market. This is so important because it will determine some very crucial factors in your marketing plan – like where you market, how you market, and who you’re speaking to in your ads. As an Internet network marketer, my target market is other network marketers and those seeking and/or interested in a home business. I prefer to focus on other network marketers about 75% of the time because these individuals do not need to be convinced about how powerful network marketing is. No matter what industry you’re in or what business your marketing, you absolutely must determine your target market because this is your audience. Once you know who they are, then you can determine where you need to launch your marketing campaign and the strategies you will be using.
3. Determine your marketing strategy. Now that you know who your target market is, you can decide on the strategy you will use to get their attention (i.e. market to them). Let’s say you want to focus your marketing efforts online – Great! However, there is more to it than just choosing the internet as our marketing medium. Take it a step further and choose the strategy that you will use online. I think all Internet network marketers should be using a strategy similar to the one I’ve diagrammed below. It’s basic but it shows how you use online marketing techniques like blogs and Facebook to drive traffic to your lead capture page (if you’re marketing the website your primary business gives you and not capturing leads, you need to go here now). After your new prospect enters their information in your capture page, it’s important that you follow up with them via phone and email (notice I said and, not or). At that point, you want to build rapport with your new prospect, get to know that person, find out what they’re looking for, and determine how you can help them. If you think they could be right for your business, invite them to meet you to discuss it further (or to an opportunity meeting, a webinar, or a conference call – whatever your business makes available to you). Then follow up again after that!
4. Choose your marketing techniques. I personally like to have between 4-7 different marketing techniques working for me at any given time. That’s mainly because I strive to keep a steady stream of leads coming in for me and my team. However, if you’re just starting out and have never marketed online, you may want to focus on only 1-2 strategies. Laser focus can be a very powerful thing! The various online marketing techniques can be broken down into categories something like this:
1) Social Media Marketing
• Facebook
• Twitter
• Forums
• Blogs
2) Content Marketing
• Video Marketing
• Article Marketing
• Press Releases
• Web 2.0 sites (Squidoo, Hubpages, etc.)
3) Paid Marketing
• Pay Per Click (Google, Yahoo, MSN others)
• Ezines Solo Ads
• Banner Advertising
• Facebook Social Ads
5. Set your schedule and stick to it! Once you’ve completed all the steps above, you need to map out your schedule to decide what days and times you’re going to implement your marketing plan. This is very important to your success. Use something like Google Calendar or an Excel spreadsheet to block off the times you’re at your day job working, in church, spending time with family, in class, or whatever your obligations might be. In between, before, and after all of those obligations, you need to find the blocks of time you have available to build your business and work your marketing plan. Then commit to doing the daily tasks of marketing your business that will help you accomplish your goals.
That’s it! I’d love your feedback, so let me know what you think, ok? If you have anything you want to add to this plan, or if you found this post helpful, I’d love to heard about it!
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Now more that ever you can’t afford to just sit back as your competitors will be working overtime to make as much money as they were pre-recession.
That’s true, Mary. We’re all trying to get ahead. I think the one who is the most focused, the most committed, and who performs the most consistent actions over time wins
You got a really useful blog I have been here reading for about an hour. I am a newbie and your success is very much an inspiration for me.
Thanks Norman, I’m pleased that you find the information useful!
hi there, i just stumbled your blog via yahoo, and i must comment that you express awesomely good on your blog. i am actually motivated by the way that you write, and the message is good. anyway, i would also love to know whether you would love to exchange links with my site? i will be more than willing to reciprocate and insert your link off in the blogroll. anticipating for your answer, i give my sincere thanks and gooday!
I’m glad to you’re motivated by what I’ve shared – that’s awesome.
If you want to exchange links, just go to my blogroll page and submit your request there.
I had a little trouble understanding at first, but I think I understand what meant now. Cheers!
Sorry Norbert, it was a lot of information in one post. Let me know if you have any questions, ok? I’m happy to help!
Great discussion. And I REALLY like that you practice what you preach. That’s when you can tell a post has come together.
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And I’m also fascinated by how fresh you made the routine [admit it: what you just shared has been regurgitated millions of time.
Ben Johnson said people don’t need taught as much as they need reminding.
Good work.
Thanks Kipu. I did try to share the way to create an effective marketing plan in a new way by presenting it through the lens of network marketing online. Glad you enjoyed the post!
The world wide web associated with marketing and advertising is all pretty intimidating and even frightening to an outdated person. I’m trying to figure out the ultimate way to make use of web sites like twitting and myspace when it comes to selling your regional company. I have read a good deal but we even now don’t think I’ve progressed to some complete comprehension just what exactly can be done and also how.
I can understand your point, Rhea. People who are used to more traditional ways of marketing may find the Internet marketing world a bit overwhelming… there is A LOT of information out there. When it comes to social media marketing, I would recommend you start with the two big ones right now – Facebook and Twitter. I plan on doing some blog posts in the near future about using those to build your business, so stay tuned!
Hello Hey I think you have a great blog going here,I found it on Bing and plan on returning regularly for the information that you all are providing.
Hey, I hope you will keep updating your content constantly as you have one dedicated reader here.
Hey, wonderful share,great article,very usefull for me,thanks
Liked your article on planning a marketing strategy. Good info.
@Tiffany, Holly, Suzanne, and Greg –
THANK YOU for the kind words, I really appreciate it. I haven’t posted in awhile because I’ve been crazy busy finishing up my MBA, but I will be posting again very soon. Stay tuned!
I really enjoyed this post. I can tell you put in a great deal of effort and time into this post. I will be back to read more as you post more!
Thanks Tobias – I appreciate the positive feedback!
Good ideas there. Congrats on getting linked from ProBlogger! Keep up the good work.
Thanks Tess! I love the Problogger blog and the occasional comment on the posts that speak to me do help
Does email marketing actually cost less than telemarketing in terms of generating leads?
Hmmm Oneida… when I think of telemarketing I think of calling people out of a phone book and soliciting them without their expressed interest in what I’m offering – is that what you mean? If it is – don’t ever do that. You will get nowhere fast. Now, I’m not talking about “cold calling” leads. That is an okay strategy for getting prospects, but your leads need to be fresh, real time leads that have at least expressed an interest in starting a home business. But to answer your question about cost, yes email marketing is cheaper than buying “cold call” leads. Email marketing also allows you to automate part of your business by using an autoresponder, which allows you to leverage the power of email to free up your time for other things while still building a relationship with your prospects. THAT is awesome!
Thanks for creating this great informational resource.
You’re welcome!
Hi there, awesome site. I thought the topics you posted on were very interesting. I tried to add your RSS to my feed reader and it a few. take a look at it, hopefully I can add you and follow.
Thank you Rosia, I look forward to hearing your opinions and feedback on the various topics
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Thanks Lavona – I appreciate your kind words
Thanks for sharing, I will bookmark and be back again
I certainly like your web site layout it’s so clean, simple to read.
@Wyatt & Ebonie – thank you, I appreciate the comments!
Very good stuff here, great job on this blog!
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Hey, this is my first comment on ur site. I’ve been reading it for a while in my RSS reader but haven’t commented before.
Anyways, thanks for the post.
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@Spencer, Gil, and Dewitt – Thank you for your kind words. I appreciate it so much that you took the time to comment!
Thanks Garfield