Two Blueprints for Success: A Business Plan, A Marketing Plan

A business plan does not guarantee your small business will be the next big thing but it does increase your odds of long-term success.  Tim Berry, the official business planning expert for Extrepreneur.com and author of Lean Business Planning, surveyed thousands of business owners and found it doubled the chances for success.

A business plan also gives you a way to focus your energies, your budgets and your priorities.

A marketing plan must be a part of the overall business plan to define target audiences and outline the strategies of how your company intends to reach them and generate new business. And it’s not enough to just have it in your head.  The most effective plans are a written document.

So, while plans may seem cumbersome and many question their value, the data suggests otherwise.

Tim Berry gives his thoughts on the connection between business and marketing plans in this clip below from The Marketing Mojo Show.

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest.

How to Determine the Right Social Networks for Your Small Business

Photo credit: Frau Holle via Flickr under Creative Commons license

Not all social networks are created equal. Likes, followers and fans are nice, but conversations and conversions matter most. Many small businesses learn the hard way that social media takes time and manpower. In many cases, they learn that social media requires a budget and plenty of patience – especially given the recent algorithm updates, which influence what users see in their streams and newsfeeds (read about the recently announced changes on Facebook and Twitter). To make the most effective and efficient use of your marketing resources, it pays to be strategic and selective. The following tips will help you evaluate or reevaluate your social media presence to grow your business.

A social media strategy and related tactics are part of a bigger picture, so begin with your marketing plan, which should include characteristics of your target audience. Create target audience profiles and find out which social networks they prefer. Kristi Hines, freelance writer, blogger, social media strategist and recent guest on The Marketing Mojo Show, suggests knowing what keywords your audience uses and provides this example.

…Let’s say that you sell gardening supplies online.  Your target audience would be gardeners.  Here is how you can use that keyword on the top social networks.

• To find out if your audience is on Twitter, try searching for gardener or gardening on Twitter user directories and search engines such as Follower Wonk, Wefollow, and Twellow.  Follower Wonk lists at least 15,000+ people with gardener in their profile.
• To find out if your audience is on Facebook, try searching for gardening in the search box at the top.  The interest page for gardening has over 3 million fans.
• To find out if your audience is on LinkedIn, try searching for gardener or gardening using the People search box in the top menu bar.  The results for gardener shows over 24,000+ people.
• To find out if your audience is on Google+, try searching gardening or gardener using the search box at the top, then change the dropdown from Everything to People and Pages.  Google+ doesn’t give a count of the number of people it finds, but there is an extensive list that goes on and on.

Most social networks will have their own search box to use, although when it comes to Twitter, using outside search engines and directories make it easier to find people with specific interests.  This will help you gauge which network has more of your targeted audience.

Kristi also provides a few questions to ask to find the right social networks for your business:

• Is my competitor on this social network?
• How popular is this social network?
• Will this social network help my online reputation?
• Is this social network driving traffic to my website?

Read Kristi’s entire article at recruiterbox.com

This infographic will help you determine which network provides a good fit for your business.

Courtesy of: Quick Sprout

What criteria do you use to select social networks for your business? Feel free to share your thoughts in the in the comments section of this post.

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest.

Five Reasons Why a Marketing Plan is the Key to A Good Night’s Sleep

A common theme has emerged on the question to small business owners on The Marketing Mojo Show about “what keeps you awake at night?”  Not surprisingly to us, the answer is:   generating new business.  Even when business appears to be smooth sailing, small businesses are more susceptible to market changes, client issues and budget woes, creating a constant concern about the next big account. Whether it’s securing leads, making the ideal match between the client’s needs and the goods/services offered, following up on referrals or just being in the right place at the right time, the solution is often a marketing plan away.

The U.S. Small Business Administration (SBA) has this to say on the subject:

Marketing is crucial for small business owners… Think of your marketing plan as a kind of “business plan” for your marketing.

Rieva Lesonsky, SBA.gov Blog

So, as a service to sleep-deprived entrepreneurs, here are 5 reasons to develop and implement a marketing plan.

1. A good marketing plan will sync with the goals and objectives of your company and allow you to identify target audiences, reach your marketplace and grow your business. Your organic baby food start-up’s marketing plan, for example, will have a specific customer target and where/how to find these customers.
2. Putting things in writing helps give you achievable goals and allows you to focus on important matters and maximize your resources.  It also guides you on what not to do.  If your business needs are best met by LinkedIn for example and videos are not relevant for your industry, then it won’t make sense to have a YouTube channel and produce videos even if this is a cool thing to do.
3. It helps with your budgeting.  Marketing should be a thoughtful budgeted item, not a series of random, unaffiliated acts.  A plan will allow you adjust your priorities to account for the costs and help determine the pricing structure for your goods/services.
4. It serves as a guidebook for everything you do such as branding and helps determine what makes sense to do in all areas such as social media, daily deals and advertising.
5. It is an internal roadmap for success.  The strategies and timetables give structure and meaning plus provide a source to measure and celebrate achievements.  It’s not a coincidence that the most successful companies have ongoing, powerful marketing plans.

Get working on your marketing plan and catch up on your sleep.

Leisa Chester Weir

 

 

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest.

Marketing Audio Memo with Susan Baroncini-Moe, Strategist and Author

LGK Marketing Memo: Marketing on Your Own Terms

As you settle in for the week, spend a few moments with your favorite Morning Joe and this take on the debate of accomplishing tasks versus achieving results with Susan Baroncini-Moe, marketing and business strategist and author of Business in Blue Jeans: How to Have a Successful Business on Your Own Terms, in Your Own Style.

Now, take a moment to bootstrap the basics and revisit your marketing plan. What’s your measure of success? Is it productivity, effectiveness, or constructiveness? Is it short-term or process oriented? What advice would you like to share with fellow small business owners? Feel free to share your thoughts in the comments section of this post.

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest.

Marketing on Your Own Terms and Bootstrapping the Basics

How do you market your small business for success?

Whether by design, default or budgetary restrictions, many small business owners pull double duty serving as primary marketers for their organization. Many will confess, privately of course, that as masters of their marketing fate, keeping up with new ideas, tools, consumer behaviors and the competition can be exciting, overwhelming, daunting and downright exhausting – all at the same time. For those who have no chance but to go solo or those who dare to be different, transform the challenges into opportunities; the opportunities into success on your own terms. Bootstrap the marketing basics, start with a plan and execute a marketing program that works for the business structure, target market and bottom line.

In an interview with Inc.com, business and marketing strategist and author of Business in Blue Jeans, How to Have a Successful Business on Your Own Terms in Your Own Style, Susan Baroncini-Moe succinctly summarized the importance of a marketing plan.

…a marketing plan is a critical component of success. If you don’t have a marketing plan, then you’ll be chasing strategies and tactics without a clear idea of why you’re doing those things. “It makes much more sense to develop a marketing plan that includes a comprehensive review of the climate of your industry, a clear description of your target market and the competition, and a blueprint for reaching your potential customers,” says Baroncini-Moe. And remember that a marketing plan shouldn’t be a static document, it must be flexible and fluid, evolving as the market changes and your business grows.

Read the original article at Inc.com.

Meet Susan Baroncini-Moe on the May 21, 2014, live episode of The Marketing Mojo Show. Tap into her treasure chest of professional and personal expertise to maximize your marketing momentum.

Catch author Susan Baroncini-Moe on The Marketing Mojo Show. Call-in to comment, log on to chat.

Do you march to the beat of your own marketing drum or is there a tried and true formula that guides your strategy? Feel free to share your thoughts in the comments section of this post.

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest.

3 Often Ignored Elements of a Simple Marketing Plan

Billy Bob would be proud of your simple plan! Photo Credit: guardiantv.com under Creative Commons license

A simple plan may not have been of any benefit to the sibling characters played by Billy Bob Thornton and Bill Paxton in the film of the same name, but if you are a small business owner, you can ill-afford to not have a marketing plan and at the very least, a realistic, simple one. In a timeless post, 10 Reasons to Create a Simple Marketing Plan, Debra Murphy lays the foundation and lists key elements for one of the most important documents for your business. Many components, such as vision, mission, goals and target audience, are familiar; however, here are three that small business owners and marketers often ignore:

What makes you different

The secret to defining what makes your business different is to understand what your ideal client really wants and make sure you deliver it better than anyone else. What do you uniquely offer that your clients find amazing?

Usually what makes us different may not be a complicated process or service but in fact, it may be something that is simple but has the effect of wowing our clients. We are taught to believe that things of value have to be hard or complex. Just because these things we do are easy for us does not mean they are easy for others. You need to become consciously aware of this value you provide and use it to your benefit.

Your marketing road map for achieving your goals

You wouldn’t take a trip without planning your route. Marketing your business is no different – you need a plan to guide you towards your destination. This plan defines the marketing strategies and the tactics within each strategy that you will use to achieve a particular goal.

To create an action plan for what you need to do and when

A marketing action plan eliminates random activities that create haphazard results. It takes your road map one step further and assigns dates, topics and other activities to each activity so that it eliminates the guess work – you always know what you’re doing and when you’re doing it.

Read the original article at Social Media Today.

Do you have a realistic, simple marketing plan? Feel free to share your thoughts in the comments section of this post.

Need to take inventory of your business and brand? Download the Marketing Assets Toolkit, LGK’s free self-evaluation checklist.

For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest. Maximize your momentum!

Spice up Your Marketing Mojo: 4 Ingredients for Effective Messaging

What is said, when it’s said, where it’s said and how it’s said are keys to effective communication. But too often we leave these keys in the glove compartment when it comes to marketing, choosing instead a “one and done” ride on a self-serving wing and prayer for immediate results. This week, we’re serving up suggestions in “marketing speak” to help you reach, engage and influence customers and clients.

When planning and budgeting for marketing programs and campaigns, add the following four ingredients in the mix to maximize your momentum.

• Consistency: Find the right balance, channels and platforms to clearly convey your identity, brand/product promise and statements on an ongoing basis. Think long-term and plan for the long haul.
• Frequency: A widely accepted rule of thumb is to “touch your target” or expose your audience to messaging a minimum of seven times to trigger a call to action response.
• Repetition: Relentless use of the same message makes an imprint, builds “top of mind” awareness and reinforces brand/product positioning.
• Emotional Anchors: Roy H. Williams, a well-known marketing guru, defines this term as implanting an associative memory. In other words, connect to the target’s needs, wants and emotional triggers; personalize the value proposition.

If you are a small-business owner, you can ill-afford to omit these ingredients in the marketing messaging mix. To do so will cost you time and money – resources in short supply for those pulling triple duty as chief cook, bottle washer and marketing officer.

What’s your messaging strategy? Stir this pot with what works for you and check out our previous recipe on focus to maximize your momentum. In the meantime, get your creative juices inspired by one of our favorite Tom Petty and the Heartbreakers tracks from the 2010 Mojo album.

For daily marketing communications news online, subscribe to LGK’s free MarCom Digest. 

Spice up Your Marketing Mojo: 5 Suggestions to Improve Focus

If you’re the chief cook and bottle washer of your business, chances are, you’re the CMO (chief marketing officer) too. You are not alone. In fact, a small business survey by AWeber found that 88 percent of owners pull double duty as primary marketers. No surprise here, these owners have to be master multitaskers, for heating up the business and bottom line boils down to time and money. And success requires a key ingredient: focus.

This week, we’re serving up suggestions to improve your marketing focus. Assuming you’ve identified goals, determined strategy and outlined objectives, you need a plan to define what must be done. But here’s the rub. Many business owners know what they want but don’t have a plan, which is a recipe for disaster. A plan, be it merely a list or comprehensive document, holds you accountable and keeps you focused on using time wisely and spending marketing dollars most efficiently. Here are our top five suggestions to improve focus:

1. Identify the Buyer Persona. In other words, switch places with your ideal customer/client. Who are they, what makes them tick, what motivates them to choose your business or service. Failure to identify the buyer persona will have you trying to be everything to everyone and that’s expensive, time consuming and, in many cases, futile.
2. Develop no more than five actions based upon your buyer persona. For example, if your buyer persona is a 49-64-year-old commercial banker engaged on social media, why would you have a presence on a network that skews teens and why, oh why, post a selfie in a restroom (our new anti-obsession)?
3. Do the work. Allocate time each day to work on each of your actions.
4. Evaluate. Your actions should have measurable results and you should be monitoring them.
5. Adjust. Based on your evaluation, an action may require a little more time each day or a complete makeover if results prove ineffective.

How do you maintain your marketing focus? Help stir this pot of marketing mojo with your suggestions. And check back regularly for updates as we count down to the debut of the Marketing Mojo Show a flavorful podcast and Twitter Chat series to stimulate your marketing senses. In the meantime, get your mojo working with this classic Muddy Waters concert clip.

For daily marketing communications news online, subscribe to LGK’s free MarCom Digest. Maximize your momentum!