How to build and execute a marketing plan

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1 How to build and execute a marketing plan Kacee Johnson, MBA, CEO, Blue Ocean Principles 11/15/17 WiFi: QBConnect Password not required

2 CPE Process CPE Credit In order to receive CPE credit Be sure to sign in or scan your badge for this session You must stay in the session for the duration of the training This session is eligible for 2 hours of CPE CPE certificates are ed directly to you within 4 weeks of the conference date to the same address you used to register CP E Credit CPE credit administered in coordination with 2

3 Marketing without data is like driving with your eyes closed Dan Zarella

4 About today s speaker Kacee Johnson, MBA Kacee Johnson, founder of Blue Ocean Principles, is a regular speaker and commentator at Technology, Business, Accounting, and Legal conferences nationwide. Recognized as one of the Top 25 Thought Leaders in Accounting Technology for 2017 and awarded the CPA Practice Advisor Magazines Top 40 Under 40 Award in 2012, 2013 and 2015 and Top 20 Under 40 Superstar Professionals in 2016 and 2017; recognized as one of the young professionals leading businesses into the future. Sits on the AICPA Women s Leadership Summit Committee, Accountex Leadership Council, and the AICPA Accelerator Advisory Board. 4

5 Agenda 1 First agenda item creating A marketing plan 2 Next agenda item tools to keep your marketing plans on track 3 Final agenda item marketing templates 5

6 Creating a Marketing Plan

7 What is a marketing plan? A marketing plan is a comprehensive documented plan that outlines a businesses marketing strategy and tactics. The plan strategically focuses on marketing-related objectives such as cost, goals, and action steps within a specified time-frame. 7

8 Creating a marketing plan Develop a strong marketing foundation by Determine your situation analysis Identifying your target market Listing your marketing goals Knowing your competition Finding a niche Setting a marketing budget Develop awareness Building credibility Being consistent Maintaining focus 8

9 SWOT analysis Define your company and it s products or services. Determine what sets you apart from your competition. STRENGTHS Consider the different ways your products or services are superior to the competition. Think about what gives your business the competitive advantage. S W WEAKNESSES A weakness can be operating in a highly competitive market. OPPORTUNITIES THREATS Describe any external opportunities you can capitalize on, such as, expanding market for your product or service. O T! Determine your external threats that can hinder your company s ability to gain market share. 9

10 1 st Step: Define who you are Vision Mantra/tagline Services offered Specialties Expertise/credentials What do you stand for? How do you differentiate your firm? 10

11 1 st Step: Define who you are Pricing model Branding Consistency in message Team development Sense of community What do you stand for? How do you differentiate your firm? 11

12 Step 2: Define your client Who do YOU serve? Niche Individuals or business Size Services Seasonality Geographic location 12

13 Identifying target markets Research the market. Collect, organize, and write down data about the market that is currently buying the product or service you sell. $$$ INDUSTRY AGE SIZE REVENUE LOCATION CONTROL Sharpen your focus on your specific clientele Determine age or clientele, whether B2b or B2C. If B2B, also narrow the client size (small, mid, enterprise) Money is always a factor. Whether B2C or B2B, narrow what the annual income needs to be to obtain your product or services Demographic is important to know if you want to appeal to your potential buyer(s) Control the nature of the market by keeping on-top of market shifts and staying ahead 13

14 Identifying target markets After your market research analysis, find your niche. Based on your market research, ask: Is there a market segment that is not currently being served or not being served well? TOOL: Sageworks benchmarking software or Statista.com 14

15 Marketing goals Set measurable marketing goals as your benchmark. Turn your goals into numbers. Your marketing goals may include: Sales Profits Customer s satisfaction Expansion 15

16 Know the competition A competitive analysis gives you the opportunity to monitor the way your competitors do business. Determine who your competitors are What your need to know about your competition Learn about your competitors Engage with your competitors Know how to act with competitor information Local business directories Local chamber of commerce Advertising Press reports Trade shows Customers Product or service provided How they distribute and deliver Brand and design values Media activities Whether they innovate Enhancing customer loyalty Read their marketing literature Check directory entries Trial service if option View their websites Go to trade shows or their seminars Speak to your competitor Ask for brochure s or price lists Listen to your customers and suppliers Talk to them at events Evaluate all information Find what your can learn from and do better Determine what they re doing worse Learn what you re doing the same 16

17 The perfect niche(s) Define your target market. Is there a market segment that is not currently being served or served well? Who is your demographic or consumers or businesses? 17

18 Marketing budget 11% of total budget Free template Budget your dollars on a monthly, quarterly, and yearly basis. Allocate your dollars according to better maximize your ROI. 18

19 Marketing budget 11% of total budget 19

20 Action Item: Marketing Budget Download

21 Creating brand awareness Create memorable, valuable content. Unique Personality Build Referral Programs Social Media Contests Developing brand awareness is a key function and objective to help prospective customers become loyal brand followers. Create Infographics Freebies Local Partnerships 21

22 Building credibility Pave the way for new and returning customers. AFFIRMATION AUTHENTICITY RESPONSIVENESS LISTENING TRUST TRANSPARENCY 22

23 Being consistent Being consistent is more important than having the best product. Be consistent in everything you do The look and appeal of collateral materials The message you deliver The level of customer service The quality of the product 23

24 Maintaining focus Focus allows for more effective utilization of time, money, and results. Monitor your results Consistently re-evaluate your SWOT analysis Consistently view budget and monthly analytics Always examine your target market with goal to grow 24

25 Tools to Keep your Marketing Plans On Track

26 Affiliate marketing campaign tools Affiliate marketing is a marketing arrangement that is designed to increase a customer base in which an online retailer encourages an external website to sell products or services. Pay-Per-Click (PPC) Content Marketing Social Media Marketing (SMM) Search Engine Optimization (SEO) 26

27 Pay-per-click campaign tools PPC, or pay-per-click campaigns is one of the most effective marketing strategies to generate immediate traffic to your website for a price, versus those visiting organically. Tools to Help Adwords Certified Knowledge AdGooRoo 27

28 campaign tools marketing, a form of direct marketing, used to communicate messages to target demographics. Messages can include: advertisements, solicitation of sales or donations, educational purposes, etc. Tools to Help Mail Chimp Aweber Mail Gen Fresh Mail 28

29 Content marketing campaign tools A marketing technique focused on the creation and distributing valuable, relevant, and consistent online materials such as blogs, social media posts, and videos. Tools to Help Google Analytics Rival IQ SimpleReach SEMrush 29

30 SEO campaign tools Affiliate marketing is a marketing arrangement that is designed to increase a customer base in which an online retailer encourages an external website to sell products or services. Tools to Help YOAST HubSpot Marketo 30

31 Social media marketing campaign tools Social Media Marketing (SMM), is a form of internet marketing that utilizes social networking platforms to promote a product, service, or business as a marketing tool. Tools to Help Sprout Social Simplymeasured.com Co-Schedule HootSuite 31

32 Affiliate marketing campaign tools Affiliate marketing is a marketing arrangement that is designed to increase a customer base in which an online retailer encourages an external website to sell products or services. Tools to Help Click Meter Link Trust Hit Path Improvely Impact Radius 32

33 Retargeting campaign tools Retargeting, also known as remarketing, is a type of online advertising tool that helps keep your brand front and center, even when they leave your website Tools to Help Google Adwords Rocket Fuel AdRoll 33

34 Marketing Calendar

35 Holding staff accountable to marketing tasks Integrated software Team collaboration 2 4 Goal setting and Plan development 1 Performance Metrics 3 35

36 Goal setting and plan development Set Goals Develop Plans Stay On Schedule Integrate Tools & Strategies Determine What Works Prioritize all requests in one place Build a business case before work begins Manage times and timelines. Leverage timesaving tactics and techniques Assess planned versus actual project time PRIORITIZE BUILD MANAGE LEVERAGE ASSESS 36

37 Software integration Manage tasks and deadlines Create proficiency & eliminate wasted time Organization Workflow between departments 37

38 PROS CRM & Automation Software CONS Added revenue Cost Scalable Dependent on proper Set-up Automation is king Focused on the Wrong person Streamlines sales Activities Without a solid process, It s pointless 38

39 Coordinate and promote, with ease Have a streamlined plan in place that will outline your month-to-month marketing activities. Marketing calendar options: 1. Free template Excel 2. SmartSheet Online KEY TAKEAWAY: Creates structure around your marketing efforts. Keeps everyone on-track, focused, and ahead of schedule. 39

40 Action Item: Marketing Calendar Download

41 Performance metrics Visibility and reporting TRACK SCHEDULES VISIBILITY NEEDS REPORTS Track metrics visually and in real-time basis Integrate team calendars and project schedules With team calendars and project schedules, staff and management can see who and what work is being done Allows you to determine staff and budgeting needs View and deliver reliable reports and analysis for personal use, company, and client. Determine what works best and what doesn t 41

42 Team collaborations PROVIDE REAL-TIME STATUS UPDATES COORDINATE ACROSS TEAMS AND VENDORS ESTABLISH ONE PLACE FOR ALL WORK COMMUNICATION UTILIZE A SOCIAL INTERFACE FOR ALL TEAMS AND MANAGEMENT Woodard Events, LLC

43 Best options to outsource Most common services Social media campaigns SEO (Search engine optimization) Website and graphic design 43

44 Access the presentations & continue the conversation The QuickBooks Connect 2017 Conference App The QuickBooks Community qbcommunity.com Sign in with your QuickBooks login

45 Questions?

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