Tuesday, April 9, 2013

MondayMorningMarketeer, Five Things to Incorporate into Execution of 2nd Quarter of Yearly Marketing Plan

Most small businesses who have a strategic marketing plan, need to pay more attention to reality shows.  Stuff happens, has it happened to you?  Has the market changed?  By definition of being relevant to the marketplace, have you had to change direction?  Great questions to be asking in the second Quarter.  Is it time to evolve and fine tune your play book.  Here are:

Five Things to Incorporate
 into the Execution of the Second Quarter of Your Yearly Marketing Plan

1.        If you don’t have a strategic marketing calendar, you should have one.  This is a month by month timeline that not only sets up what you want to do but what your results should be.
The second quarter should be an evaluation time.
Are you on track to execute?
Are you on budget?
Have you realized the predicted results?
Are you getting your predicted return on investment?
This is reality check time.
2.        Is there any fine tuning to be done?  In this microwave generation of nano fast technology, has the marketplace changed.  Are there trends that you need to retool for.?  Your marketing plan has got to be dynamic and timely.  Please don’t say, but Joanne, my business is different, I sell flux coated welding rods and they haven’t changed in forty years.  Oh yeah, well the marketplace has and you must be aware of that or you may be sitting with your thumb up your perverbial butt trying to figure out why business has fallen off.  Please do add some evaluation time in your marketing plan and some metrics for doing this.  
There is No Magic Lamp!  Test and Re-Test!
The goal in basketball and football is still to win the game and in many advanced teams to win it with as minimal penalties and as many points as  possible, but many variables can change the methodology.    Big   For instance this has been a year frought with more tornadoes already than have happened in over a hundred years.  How does that affect your business.  What about the Tsunami in Japan, many companies are affected by the availability of parts and I know food companies are affected.
changes around you, external variables, these are things you must keep up with.
Recently Denny’s has instituted baconalia, a campaign that puts bacon on everything.  In an age when people are more heart conscious you would think that people would stop eating bacon. But here we are facing what some people fear are the ravages of 2012 and many people are saying, “what the heck,”—let’s live a little. That’s the only excuse why I can imagine that anyone would put bacon on an ice cream sundae.
Some other things to consider, a major competitior going out of business, a new competitor starting in the business, any synergistic companies that might be floundering that need your help or that might be thriving that can help you.
3.     Get R Done,  a client and restauraunteur, that was his by-line.  Jimmy G’s mantra was Get R Done.  
  • How much of your first quarter plan did you get accomplished?
  • Do you need to change some directions or tactics?
  • What worked, what needs to change?
  • If you had a failure what did you learn from it?                             
  • If you had a success what did you gain?                
  • Is it time for a press release to celebrate your success?
  • It is time to meet with your board or partners and analyze how things are going, 
         Success can be a great morale builder and failures can help you to learn.

All of these things can be incorporated into your marketing placn.

4.       Ask you prospects and clients how you are doing?  Monkey Survey is free, use your list and ask for help, offer something of value but not expensive to you in return for all of your friends filling out a survey and ask relevant questions about your marketing efforts. 0Who should you ask, you’re A,B and C list.  My brother is not a customer but he is one of the greatest critics, and sometimes advocates that I have.  Use your Facebook, Twitter, LinkedIn and E-zine list also.  Then calculate the results, learn from it and adjust.
5.       Go back and make revisions—oh no, she did not say, change the plan did she?
Yes, I said it, your strategic marketing plan is a dynamic work in progress.  If it was static it would not be marketing.  Gone is the old style of marketing where you invented a product or service and tried to cram it down people’s throats.  Now you must find a need and fill it, follow the trends and feed them, work with feedback from your clients and prospects.

To purchase the book,
 "Folly of Marketing Plan in Your Head, 101 Compelling Reasons to Write One" 

This blog post can be reproduced in its entirety with the following information:
© Joanne Quinn-Smith 2011, Monday Morning Marketeer™ 412-628-5048
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Joanne Quinn-Smith is the Creative Energy Officer of Dreamweaver Marketing Associates in Pittsburgh,Pennsylvania and an expert on Web 2.0 Branding.
Joanne has also been designated by the 2009 U.S. Small Business Administration as the Small Business Journalist of the Year for her work with information relevant to and advocacy of small businesses.
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