Marketing Plans: Your Roadmap

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1 SMPS P2W Prepare to Win Marketing Boot Camp 3-WEEK SERIES, EVERY WEDNESDAY Session 1 March 7: Marketing Overview People & Process Session 2 March 14: Marketing Plans Your Road Map Session 3 March 21: Marketing Deliverables Proposals & Interviews that Win SMPS P2W Prepare to Win Marketing Boot Camp 3-WEEK SERIES, EVERY WEDNESDAY SESSION 2 Marketing Plans: Your Roadmap Bill Strong, FSMPS, CPSM, Bill Strong Consulting 1

2 Marketing Planning A good plan is like a roadmap it shows the final destination and the best way to get there. H Stanely Judd 2

marketing plan is a written document that outlines goals and objectives for a

3 Agenda Marketing Plan Vision Analysis (SWOT) Goals & Objectives Sales Forecasts Action Plans Marketing Budget Plan Audit Top 10 List Close The marketing plan is a written document that outlines goals and objectives for a specific period of time, and establishes an action plan and budget for meeting those goals. 3

4 benefits of preparing a MARKETING PLAN Game plan for the entire firm Establishes SMART goals Provides strategy to meet goals Brings in the right kind of business 4

statistics & trends - firm & national Add consensus

5 The Marketing Plan PLAN FOR SUCCESS Develop goals & objectives for meeting Circulate an agenda Include statistics & trends - firm & national Add consensus building activities Toss in reality & challenges Demand commitment 5

PLAN IT Include stakeholders & decision makers

RESEARCH External Audit Perception Performance

6 PLAN IT Include stakeholders & decision makers Delegate responsibility & homework Meet off-site (with facilitator?) Commit plan to paper Keep it concise MARKET RESEARCH External Audit Perception Performance Market share and demand Competitors Internal Audit Input from all staff Firm History 6

the architect of choice in the luxury hospitality market.

7 DEVELOP A CLEAR SIMPLE PLAN Section 1 Marketing Vision Section 2 Situation Analysis Section 3 Goals & Objectives Section 4 Sales Forecast Section 5 Action Plans Section 6 Marketing Budget Section 7 Audit 1 MARKETING VISION We are the architect of choice in the luxury hospitality market. Our weekly staff meetings involve a discussion on improving every aspect of our business and client service to reflect this vision. Vision created for firm and/or division or studio 7

2 SITUATION ANALYSIS SWOT Reputation and talent Markets Active,

Differentiators Competition What worked & didn t work 2

trends Growth and statistics Challenges & influences Price and

8 2 SITUATION ANALYSIS SWOT Reputation and talent Markets Active, growth & reactive BD/marketing performance Innovation Differentiators Competition What worked & didn t work 2 SITUATION ANALYSIS: MARKETS+CLIENTS Innovation and future trends Growth and statistics Challenges & influences Price and profitability Quality Added services or scope Ask clients what works & doesn t work 8

9 2 SITUATION ANALYSIS: COMPETITORS 2 FIND YOUR SWEET SPOT 9

3 GOALS & OBJECTIVES GOAL: Statement of direction :: the end result OBJECTIVE: Specific target :: quantifiable

Goal Objective ABC Architecture Co. will be a leader in the design of luxury hotels.

Tweet weekly and post a blog about hospitality design quarterly.

10 3 GOALS & OBJECTIVES GOAL: Statement of direction :: the end result OBJECTIVE: Specific target :: quantifiable measurement :: resource or skill needed :: expertise to acquire :: significant achievements GOALS & OBJECTIVES 3 Goal Objective ABC Architecture Co. will be a leader in the design of luxury hotels. Develop new hospitality marketing materials by 8/17. Tour all 7-star hotels around the world by end of Tweet weekly and post a blog about hospitality design quarterly. Present a white paper at the ALIS national conference 5/18. Design two new 7-star hotels by Submit for AIA and ALIS national design awards in Get published in Conde Nast by

11 MARKETING C0MMUNICATIONS 3 Brand identity Website & Brochures Content materials Publicity Rankings & Directories Awards Social Media Outreach 4 SALES FORECAST ABC s Hospitality Studio will generate $20 million in revenues in Backlog: $10 million Probable's: $ 5 75% Revenue gap: $5 million Hit rate: 30% Sales pipeline: $10 million Pipeline gap: $20 million (3x) Lead generation plan Lead conversion plan 11

12 5 ACTION PLAN What: Identify the task Who: Identify the person How much: Determine labor & expense Schedule: Set completion date(s) Priority: Assign priorities 6 MARKETING BUDGET 12

13 BUSINESS UNIT CODES Corporate Offices Profit Centers Practice Groups Studios MARKET SECTOR CODES 10 Retail 20 Hospitality 30 Healthcare 40 Higher Ed 50 Industrial 60 Commercial Office 13

Memberships + dues 707. Photography/Videos 708. PR/Communications 709.

14 MARKETING ACTIVITY CODES 701. Advertising 702. Business development 703. Collateral materials 704. Conferences + exhibits 705. Entertainment + meals 706. Memberships + dues 707. Photography/Videos 708. PR/Communications 709. Special events or activities 710. Sponsorships + donations 711. Travel THE CO$T OF MARKETING INDUSTRY STANDARDS 14

THE CO$T OF WINNING WORK New service to new client 8% - 20% Established service to new client 4% - 8% New service to existing client 4% - 8% Established service to existing client.

15 THE CO$T OF WINNING WORK New service to new client 8% - 20% Established service to new client 4% - 8% New service to existing client 4% - 8% Established service to existing client.5% - 4% Category Strategy Our reason for existence: 7 MARKETING PLAN AUDIT What sets our business apart from the rest: Our ideal customer is: What s most important to our ideal customer when they are buying what we re selling: What we want to accomplish this year: The top 3 things that are going to get us there: How much will each contribute to my revenue/profitability: What will trigger our ideal customer to think of us: Campaigns or tactics we are doing to reach our goal: How much money will we need to get it done? 15

16 Questions & Answers Bill s TOP 10 LIST 16

17 1. Get buy-in. 2. Set clear expectations and consequences hold people accountable. 3. Boil it down to 1 page communicate to everyone. 4. Use it to make strategic decisions. 5. Course-correct if something isn t working. 6. Establish the marketing budget from the bottom-up. 7. Prioritize! 8. Monitor expenditures and follow up. 9. Develop a marketing dashboard and document progress and results. 10. Use it to negotiate your next career level! 17

18 what are you going to do differently? SMPS P2W Prepare to Win Marketing Boot Camp 3-WEEK SERIES, EVERY WEDNESDAY Session 1 March 7: Marketing Overview People & Process Session 2 March 14: Marketing Plans Your Road Map Session 3 March 21: Marketing Deliverables Proposals & Interviews that Win 18

Marketing Overview People & Process

SMPS P2W Prepare to Win Marketing Boot Camp 3-WEEK SERIES, EVERY WEDNESDAY Session 1 March 7: Marketing Overview People & Process Session 2 March 14: Marketing Plans Your Road Map Session 3 March 21: Marketing