Sean McCool
Direct Marketing Strategist

IF you’re thinking about developing a marketing program, you need to begin with a marketing plan. 

Having been in marketing for most of my working life, I have seen my share of marketing plans. Some are short and to the point, others are hundreds of pages thick and cost thousands of dollars to produce.

The irony is that many of the expensive marketing plans end up on a shelf and rarely get implemented. However, the simple plans, if researched and implemented effectively, still have tremendous impact.

Best of all, it’s never too late to create a marketing plan. There are a few things you need to know. For instance:

Regardless of the scope of your marketing plan, you must keep in mind that it is a fluid document. Every business needs to begin with a well-structured plan that is based on thorough research, competitive positioning and ideas you can actually pull off. 

Your plan should be the basis for your activities over the coming months. However, you should always be willing to enhance or redirect your plan based on what proves to be most successful.

With that said, here is my 10 Steps to Profits Marketing Plan Formula™.

1. Market Research 

Collect, organize, and write down data about the market that is currently buying the product(s) or service(s) you sell. Some areas to consider: 

  • Market dynamics, patterns including  seasonality 
  • Customers–demographics, market segment, target markets, needs, buying decisions 
  • Product–what’s out there now, what’s the  competition offering 
  • Current sales in the industry 
  • Benchmarks in the industry 
  • Suppliers–vendors that you will need to  rely on

2. Target Market 

Find niche or target markets for your product and describe them. Look for a certain kind of business or person to send your message to. The more specific you can be the better your marketing can be.

3. Product 

Describe your product. How does your product relate to the market? What does your market need; what do they currently use; what do they need above and beyond current use? What do they really want? What do they want to feel after getting your product? 

4. Competition 

Describe your competition. Develop your “unique selling proposition.” In other words, what makes you stand apart from your competition? What is your competition doing about branding?

5. Marketing Statement 

Write a few sentences that state: 

  • “Key market” – who you’re selling to 
  • “Contribution” – what you’re selling 
  • “Distinction” – your unique selling  proposition

6. Market Strategies 

Write down the marketing and promotion strategies that you want to use or at least consider using. Strategies to consider: 

  • Networking – go where your market is 
  • Direct marketing – sales letters, brochures,  flyers 
  • Advertising – print media, directories 
  • Training programs – to increase awareness 
  • Write articles, give advice, become known  as an expert 
  • Direct/personal selling 
  • Publicity/press releases 
  • Trade shows 
  • Web site  

7. Pricing, Positioning and Branding 

From the information you’ve collected, establish strategies for determining the price of your product, where your product will be positioned in the market and how you will achieve brand awareness. Remember, there’s a reason we have both Walmart and Macy’s. Different customers buy for different reasons.

8. Budget 

Budget your dollars. What strategies can you afford? What can you do in house, what do you need to outsource to a professional?

9. Marketing Goals 

Establish quantifiable marketing goals. This means goals that you can turn into numbers. For instance, your goals might be to gain at least 30 new clients or to sell 10 products per month, or to increase your income by 30% this year. Your goals might include sales, profits, or customer satisfaction. If you can measure it, you can and will improve it.

10. Monitor Your Results 

Test and analyze. Identify the strategies that are working. 

How? You can: survey customers, track sales, leads, visitors to your web site, upsells on the jobsite, referrals, etc. 

Let me say it again: If you can measure it, you can and will improve it.

By researching your markets, your competition, and determining your unique positioning, you are in a much better position to promote and sell your product or service. By establishing goals for your marketing campaign, you can better understand whether or not your efforts are generating results through ongoing review and evaluation of results.

As mentioned earlier in this article, be sure to use your plan as a living document. Successful marketers continually review the status of their campaigns against their set objectives. This ensures ongoing improvements to your marketing initiatives and helps with future planning.

Sean McCool is a an award-winning marketer and success coach. He can help you create marketing materials or just talk with you about what’s possible for your business. You can contact or leave a message for him through his website www.SeanMcCool.com.