Over the past months, we’ve looked at six different marketing topics that will become components of your Marketing Plan. This month, we’re going to talk about the steps in devising your marketing strategy.As you’ve no doubt gathered by now in this series, the differences between different areas of marketing can be rather subtle. So, perhaps the best way to explain how Public Relations differs from Reputation Management or Customer Relations, is with some examples.
Setting objectives for your marketing plan is all about math. Considering your business model, overall business objectives, and customer purchasing data, think about what you need to accomplish with your marketing. If 50% of your existing customers spent an additional $10 a month, would you reach your business objectives? Would a 25% increase in your customer base be sufficient, or do you need to double it? Is there a sufficient population of your target market in the geographic area you currently serve or do you need to expand? When you’ve done your research and calculated the various options, your objectives should be stated as precisely as possible, and in measureable terms. For example:Over the next three years, we will increase our customer base by 25%, bringing in 500 new customers.In each of the next three years, we will increase the average sales per customer, per month by 10% to a total of $60.By June 2019, 20% of our customers will be in the United States.