Breakthrough Marketing Plans Tim Calkins
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1 Breakthrough Marketing Plans Tim Calkins Why read this book? Key Quotes If you can create, secure support for, and execute a strong marketing plan, you can have a huge impact on a business. If you can t, you will struggle. (P. 7) Marketing contributes to an organization when it leads to action, and ONLY then. (P. 9) A marketing plan lays out the course for a business, drives integration, and builds support. These are all critical tasks of leadership. (P. 22) Jack Welch You can t believe how hard it is for people to be simple how much they fear being simple. They worry that if they re simple, people will think they are simple-minded. In reality, of course, it s just the reverse. Clear, tough-minded people are the most simple. (P. 38) A great marketing plan has to be built on realistic assumptions. It has to be achievable based on the dynamics in the market. (P. 66) The people reviewing a plan really don t care about the work that went into creating it. (P. 108) You have to create a document that communicates, persuades, resonates, and inspires. (P. 109) BLUE SKY LEADERSHIP CONSULTING PETER@BLUESKYLEADERSHIP.COM Blue Sky Leadership Consulting works with organizations to leverage Strategic Thinking and Execution Planning and we encompass many of the principles in these books into our Four DecisionsTM methodology and development of company s One Page Strategic Plans. Whatever system you decide to use, understand them fully, implement them slowly and completely and maintain the discipline and rhythm necessary to see concrete results. Employees tire of Flavor of the Month and thrive on organizational alignment, execution of plans and achievements that garner a sense of accomplishment. Copyright 2016 Blue Sky Leadership Consulting All rights reserved
2 Breakthrough Marketing Plans by Tim Calkins Contents 1. Introduction 2. Why Bother? 3. The Problems 4. The Key Elements 5. The Best Marketing Plans 6. The Planning Process 7. Writing the Plan 8. Presenting: The Big Show 9. Twenty Strategic Initiatives 10. Marketing Plan Template 11. Common Questions 12. Example: Flahavan s 13. Example: Edzo s Every company needs a plan that connects data and action. It also needs a process that connects what you sell, services that you provide, and ideas to the needs of your customer. A good marketing plan can help you boil down the vast amount of data available to you, identify what is important and then make some good decisions on what actions to take. We ve perhaps experienced the following: 6 weeks of work to gather data, assess the landscape, develop the plan, create a 100-page report, present 80 PowerPoint slides in a 2-hour briefing, receive the accolades for a job well done, set the report on the bookshelf and then. NOTHING. until we do it all over again the next year. There are five problems with most marketing plans (P. 30): 1. Too much data 2. No strategy 3. Lack of rationale - not persuasive 4. Unrealistic thinking 5. No focus B o o k R e v i e w : B r e a k t h r o u g h M a r k e t i n g P l a n s P a g e 2 6
3 The Key components of a great marketing plan is explained as the GOST framework. (P. 43) 1. Goals or objectives what the business is trying to achieve through the marketing plan; the DESIRED END RESULT. There should only be one or two, they should be quantifiable specific and measurable. a. Should be a FINANCIAL objective and the plan should focus on the money the PROFIT. b. Revenue goals tend to be flawed as you can generate revenue that does not deliver profit. c. There should also be a second target to BALANCE profit goals customer satisfaction or market share for example to incorporate the HOW to the WHAT. (P. 48) 2. Strategic initiatives What the business will do to achieve the objectives. a. These are the main actions the company will take to achieve the goals. b. They should be CLEAR, start with a verb, be measurable and DIRECTLY support the objectives. c. Stay focused more than three goals are often equivalent to having no goals (a quote from an old boss of mine ) Fewer goals makes it easy to stay focused, easy to communicate, easy to remember. 3. Tactics specific actions that will bring the strategic initiatives to life. This is HOW you are going to do it your action plan a. Every initiative should have tactics and tactics should be related to the broader initiative. b. Tactics encompass the FOUR Ps Product, Price, Promotion, and PLACE. Create a one-page summary of your plan to maintain FOCUS, create an easy way to monitor results and keep everyone on the same page. Writing the plan 1. Don t begin until you are clear on the recommendation. 2. Know who your audience will be. 3. People who write great marketing plans tell a story. 4. Provide data to prove your points and identify sources. 5. Simplify create clarity. Refine and revise your document. "A marketing plan has to be written, and written well, to be effective. A great plan should quickly get to the point, tell a simple story, and be supported by facts." (P. 129) B o o k R e v i e w : B r e a k t h r o u g h M a r k e t i n g P l a n s P a g e 3 6
4 The Planning Process (Pp ) Create a cross-functional team all impacted areas Builds support Check the Foundation brand positioning company vision Vision statement of purpose company values long-term objective Clarify the goals and objectives Never assume - verify rarely does a bottom up approach work Analysis, Analysis, Analysis What is changing what is new SWOT and three Cs (customers, competitors, channel partners) Identify strategic initiatives and tactics Initiatives FIRST Grow share or category Penetration or buying rate awareness, trial, or repeat Profit equation (P. 95) evaluate the tactics Check the numbers Sell the plan Execute and track progress Presenting your plan 1 1. No surprises sell your plan BEFORE you present to all key influencers and senior executives. 2. Set the stage prepare the meeting room; arrange the seating. 3. Show confidence practice, know the business, find the relevant facts and avoid opinions. 4. Gain some altitude try to encounter turbulence in the middle not near the end. 5. Bring it to life win the rational AND emotional argument. Make it memorable. 1 Breakthrough marketing plans. Tim Calkins. Pages B o o k R e v i e w : B r e a k t h r o u g h M a r k e t i n g P l a n s P a g e 4 6
5 Strategic Initiatives In chapter 9 the book shares 20 strategic initiatives that most businesses would find appropriate, as well as corresponding examples of tactics and measurements. Some examples include: Build Awareness, Expand Distribution, Increase Loyalty, Decrease Product Costs, and Enter a New Market. As the author states: NO STRATEGIC INITIATIVE IS RIGHT FOR EVERY BUSINESS. EACH BUSINESS HAS UNIQUE CHALLENGES AT A GIVEN TIME, AND WHAT WORKS FOR ONE MAY NOT WORK FOR ANOTHER. THE KEY IS TO BE AWARE OF THE WIDE RANGE OF AVAILABLE OPTIONS AND USE THE MARKETING PLANNING PROCESS TO IDENTIFY THE INITIATIVES THAT HAVE THE BEST CHANCE OF DRIVING YOUR BUSINESS FORWARD. (P. 166) Marketing Plan Template The book helps in understanding what elements should go in each section providing detailed information for each one. There is also a chapter on common questions that arise when developing your plan. 1. Executive Summary 2. State of the Business 3. Goals/Objectives 4. Strategic Initiatives 5. Tactics 6. Financial implications 7. Risks and contingencies 8. Milestones 9. Summary The book concludes with several sample marketing plans. Like most learning I found that the best way to thoroughly digest the material and understand the full impact is to put the information into action. Develop your own plan based on these suggestions and you will find, as I did; that the principles Calkins suggests really do provide focus and will complement, not replace, management systems in place. For a real life example, Saul Vargas from Wittigs Marketing department share his insights on their marketing plan. B o o k R e v i e w : B r e a k t h r o u g h M a r k e t i n g P l a n s P a g e 5 6
6 Calendar of Events May 27th June 17th July 22nd August 26th September 23rd October 21st November 18th December 16th Friday May 27th The Storytellers Secret Carmine Gallo Simple Rules- Sull & Eisenhardt Everyone Communicates, Few Connect John Maxwell Team of Teams Gen McChrystal Triggers Marshall Goldsmith The Storyteller's Secret The Storyteller's Secret Friday June 17th Friday July 22nd In Simple Rules, Sull and Eisenhardt masterfully challenge how we think about complexity and offer a new lens on how to cope. They take us on a surprising tour of what simple rules are, where they come from, and why they work. The authors illustrate the six kinds of rules that really matter - for helping artists find creativity and the Federal Reserve set interest rates, for keeping birds on track and Zipcar members organized, and for how insomniacs can sleep and mountain climbers stay safe. Everyone Communicates, Few Connect Everyone Communicates, Few Connect Book Review: Breakthrough Marketing Plans Page 6 6
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