Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


The 10 Step Marketing Plan For More Sales In 2014

The 10 Step Marketing Plan For More Sales In 2014

With 2014 just around the corner every business owner should be thinking about how they will grow their business next year. We’ve prepared a 10 Step Marketing Plan to help you drive more sales in 2014. Once you have completed your plan you may also want to use the Promotional Calendar with key dates including public and regional holidays, celebrations and events and government dates to help plan your monthly marketing activities.

1) Set a realistic marketing goal. You’ll be surprised how many people overlook starting with the end goal. If you’re at an early stage of business (say less than 2 years) you are probably needing double or triple digit revenue growth in order to reach breakeven. If you’ve been in business a while in a mature market your growth rate is probably less but with higher turnover.

2) Write down who your target customers are. Think about demographic (age, sex, location), their needs and wants in relation to the solution you are offering them.

3) Understand your competition and research what they are currently offering. This can be a great source of inspiration and help you to redefine your offer so it is competitive. Often you may wish to engage a friend or colleague who can act with some independence in assessing how you stack up against your competitors.

4) Record what your Unique Selling Proposition is. This can change with improvements to your offer and what else is happening in the market. Have other competitors caught up or copied your offer? Do you need to redefine your USP to stay relevant and ahead?

5) Revisit and freshen up your offer. Can you bundle your offer or provide a strong ‘entry point’ to draw in new customers? Is there a guarantee you can offer to reduce perceived risk to new customers who have yet to try your service or product?

6) Think about your conversion strategy. We often come across businesses that get a good volume of leads but the conversions to sale aren’t happening. This could be due to your offer (is it competitive) or personality of the person tasked with closing the sale. Perhaps it’s the process that needs to be looked at or your website just isn’t working due to mixed or poor messages and navigation issues. A third party who is separate from your business should be engaged at some point to take a hard look at this area as all too often there are opportunities to improve conversions that are overlooked by those inside the business.

7) Referral strategy. If your business is like ours there will be a strong element of referral business coming your way in 2014. Rather than being reactive and waiting for referrals to come in, seize the moment and work out how you can influence referrals. Can you partner with people who are likely to generate more business? Is there a reward mechanism in place to encourage future referrals? Should you actively ask your existing customers if there’s anyone else who can benefit from what you have to offer?

8) Retention of your existing customers. You will have already heard time and again it’s easier and cheaper to hang on to existing customers than acquire new ones. One great way to lift customer retention is to go to your customers and find out why they choose to do business with you and if there are any areas you can improve your service. Either a survey tool (perhaps online) or even by picking up the phone or visiting them in person could yield valuable data for your business.

9) Update your marketing collateral. Now that you’ve gone through the process of thinking about your USP, competitor review, target market and overall offer, you may need to update your business cards, website, flyers and other marketing collateral.

10) Financial Projections. With new key insights and strategies for your marketing plan you now need to write down all the channels to market (think online including Google, social media, offline such as radio, letterbox drops, referrals) and document what revenue you will derive from each. This can be based upon a mix of historical data, some guesswork and online research to figure out likely returns on investment by channel. Does this projection add up to the goal you set yourself for 2014? Is it realistic and what budget do you need to execute this plan? As a rule of thumb you should allow from between 3% to 10% of your revenue for your marketing plan to be effectively carried out.

Download our 10 Step Marketing Plan Template.

Need help?
Talk to the Onmark Team about your 2014 Online Marketing Plan.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news