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How Good Is My Marketing Plan?

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This presentation I gave to New Mills Business Network on 20 October 2009 looked at some basic principles of evaluating a marketing plan.

How Good Is My Marketing Plan?

  1. 1. How Good Is My Marketing Plan? Matthew Goldsbrough October 2009
  2. 3. Remember … Strategy Before Tactics
  3. 5. Value Objectives Model Options Reality
  4. 6. Have You Defined Your Value Proposition?
  5. 7. Define Your Value <ul><li>Why buy from me , and why now ? </li></ul>
  6. 8. Define Your Value <ul><li>Who is your customer? </li></ul><ul><li>What problem do you solve? </li></ul><ul><li>What do you offer? </li></ul><ul><li>What benefits do you offer that your competitors don’t? </li></ul><ul><li>How do you substantiate what you’re saying? </li></ul>
  7. 9. Define Your Value <ul><li>www.goldsbrough.biz/valueproposition </li></ul>
  8. 10. Clear Objectives?
  9. 11. Clear Measurable Objectives <ul><li>What you want to achieve </li></ul><ul><li>When you want to achieve it </li></ul><ul><li>‘You can’t manage what you can’t measure’ </li></ul><ul><li>Collect the metrics now that will enable your next plan to be better </li></ul>
  10. 12. A Financial Model?
  11. 13. Build Your Financial Model <ul><li>Work backwards from your goal </li></ul>
  12. 14. Build Your Financial Model 500 1000 10 = 100 = 5 x INCOME ASP CUSTOMERS CONVERSION PROSPECTS
  13. 15. Build Your Financial Model 1000 500 2 = BUDGET PROSPECTS SPEND PER PROSPECT
  14. 16. Choose Appropriate Tactics <ul><li>How can your average spend per prospect be achieved from a mix of activities? </li></ul><ul><li>How will the target audience in your value proposition want to be reached, and what will make them respond? </li></ul>
  15. 17. Did You Consider All The Options?
  16. 18. Consider All The Options <ul><li>‘A plan that isn’t built on choices you’ve made is worthless’ </li></ul><ul><li>What works for others? </li></ul><ul><li>Will it work for you? </li></ul>
  17. 19. Based on Reality?
  18. 20. Reality <ul><li>Can you actually carry out all of the activities you’ve planned? </li></ul><ul><li>Are you dreaming, or planning? </li></ul>
  19. 21. How Good Is Your Plan? <ul><li>Value </li></ul><ul><li>Objectives </li></ul><ul><li>Model </li></ul><ul><li>Options </li></ul><ul><li>Reality </li></ul>
  20. 22. www.goldsbrough.biz

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