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

 

'Irregular Accounting': Voluntary Suspension Of Fuji Xerox Govt Contracting

This suspension gives the Ministry of Business, Innovation, and Employment time to understand the full implications of the report from FUJIFILM Holdings into irregular accounting practices at FXNZ. More>>

ALSO:

MPI: Cow Disease Detected In NZ For First Time

MPI is responding to the detection of the cattle disease Mycoplasma bovis in a dairy herd in South Canterbury... The disease is commonly found in cattle globally, including in Australia, but it’s the first detection of it in New Zealand. More>>

South Island Flooding: Focus Moves To Recovery

As water recedes throughout flood-impacted areas of the South Island, Minister of Civil Defence Nathan Guy has praised the efforts of those who were involved in the response to the flooding... More>>

ALSO:

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fund For PPP Plans: Govt Embraces Targeted Rates To Spur Urban Infrastructure

The government's latest response to the Auckland housing shortage will see central government and private sector firms invest in 'special purpose vehicles' to fund essential roading, water and drains that Auckland Council can't fund without threatening its credit rating. More>>

ALSO: