Last week we went over marketing plan goals and measurement. Now that you know what your goals are, and how to determine what success looks like, let’s start talking about your target market and marketing tactics.
Target market: Take a look at your current book of business to help you figure out your niche – or possible niche. Who’s on the list – manufacturing firms, start-ups, hospitals? This can help you figure out what kind of clients you want to have. You want clients like the ones you’re successful with. What are their characteristics? Do they have an engaged committee, or are they parental, committed to participant education? Whatever the case might be –think about having a profile of your ideal clients and figure out who fits that profile to determine the size of your market.
Once you’ve identified your target market, it’s important to develop a pipeline management process. Your marketing activities toward each prospect will depend on where they are in your sales pipeline. Where are they in the buying process? Maybe you’ve met a CEO a few times socially, but you can’t get him to commit to a meeting. This can help you determine your marketing collateral needs – you’ll need different strategy and collateral for a CEO than a prospect you haven’t made contact with.
Several years ago, I was sitting in a finalist presentation for a plan sponsor and the key decision-maker made a comment that resonated with me, “If you document it and measure it, it will get done – if you don’t, it won’t.” How about that for a lead into a marketing plan series?
We’ve already talked about discovering your story. Now, let’s get you thinking about writing a marketing plan. Today we’ll focus on goals and measurement: what you want to achieve with your marketing plan, and how you’ll measure that success. Goals and measurement drive your target audience and marketing tactics, but we’ll focus more on that next week.
Sales and servicing keep you busy – I get that. You don’t have time to chase leads, nothing’s worse than wasting precious time on fruitless prospecting efforts. You have to be thoughtful about how you spend your time. A good marketing plan helps you prospect effectively. It keeps you front of mind with your clients and helps create a perception, or brand, with your prospects.