Tuesday, December 14, 2004

Reflection Reaps Rewards

Time spent on reflection is time wisely invested. Here are 3 questions to consider when reviewing any project:

1. What's working?
2. What's not working?
3. What can I improve?

Here's some other questions to consider, especially when reviewing your marketing plan:

4. Do you have a well defined marketing strategy that helps you achieve the three phases of marketing; Getting Attention, Positioning, and Selling?

5. How often have you reviewed your marketing plan?

Getting Attention

6. Does your marketing message prompt prospects to contact you?

7. Do your ads, letters, and web site motivate prospects to contact you?

8. What are your conversion rates?

9. What steps can you take to improve them?

Positioning


10. What are you doing to establish your credibility with prospects, to help them know and trust you?

11. Is it working as well as you'd like?

12. What could you improve?

13. Is the value of your products and services clear to your prospects or do they quëstion you about merits and price?

14. Want to learn how to ensure that your prospects understand the value of your products and services?

Selling

15. How successful are you in selling, that is, in getting commitments for everything from appointments to orders?

16. What's your conversion rate of prospects contacted to clients and customers?

17. Do initial s/ales generate repeat s/ales and referrals for years to come?

18. What is your strategy to generate more s/ales from each client?

Source: Adapted from More Business Ezine: 'More Business from Charlie Cook - Cleaning Up Your Marketing': Tuesday, 14 December 2004.

27 comments:

p said...

Determining Target Audience
Top 10 Tips In Determining Your Target Audience

1.First outline your primary goal/objective this is the thing that is of most importance that you wish to achieve. Be 100% sure that you outline a goal that will be the most beneficial to you and your campaign. Equally important is to make sure everyone involved in the campaign has a clear understanding of what thay are aiming for.

2.Conduct research on the broad spectrum of possible audiences/stakeholders that may suit your needs. By doing this you can create a point at which you can begin eliminating those groups that are obviously not in your need of reach. This will make future procedures easier.

3.Begin to identify and categorise your stakeholder/audience groups. This really will be conducted more precisley further on. At this stage though doing this allows us to narrow down to a small number of groups that will be of interest to us further advancing our state of progress.

4.Now we will divide our groups into primary and secondary publics. This will now put us in a position where we can seriously look at who are really the groups that concern us the most in our undertaking of this campaign. We have a rough idea of the groups who are a priority for us.

5.We will now analyse which of these groups are really the ones we want to reach. Really identifying which groups will make our public relations program successful. This can really put it into perspective for us in terms of where we are really going.

6.Now further research will be conducted to help anaylse our target audiences attitudes,opinions and values. This really works as a re checking process to make sure that we are on the right track in our selection and goal.

7.The next step will be working out really what we want to say and the best way of saying it to our groups/audiences. This poses importance as we have to word our propositon to them clearly and appropriately.

8.Our next move is timing. We will determine when we want to deliver our message to the audience. A well decided time is crucial to our strategy/campaign as we really need to make sure we get our message across at the best and most convinient time when were most likely to gain co operation and a positive response.

9.We will now confirm and make absolutely sure of what effect we want to produce on our audience it really must fit in with everything else we have done up till now. The confirmation of such an important move could be crucial to the nature of the effect that we place on our target audience and the success of our campaign.

10.Finally we will all review the procedures and steps we have taking making sure everything is ready for us to go ahead and make a successful public relations campaign that gains the best results for ourselves and our target audience.
Lecturer Tom Murrell
http://8mmedia.blogspot.com
From Peter Verevis http://pspspsps.blogspot.com/
MoreInfo
http://web.nd.edu.au/index.html

Anonymous said...

Five Tips For A Successful Marketing Plan

1) Ensure that the target market segment meets the three M's: Measurable, marketable and meaningful.
a. Measurable: Be sure that you can quantify the number of potential customers in the market segment.
b. Marketable: You have to be able to reach this market and economically.
c. Meaningful: Is this market large enough to achieve your goals? Is it a market that will actually be interested in your product?

2) Develop measurable and attainable goals. Make sure these goals have a time scope. It does no good to say “gain 30% market share” unless you specify when you need to have that market share by. A staggered time line is crucial. For example, “5% market share in the first year, and 7% by the end of year two”. In addition, make sure the goals are realistic, nothing brings a team down faster than a string of missed targets.

3) Use brainstorming techniques to solve problems. There is nothing more boring than a sterile boardroom, however this is the place where many marketing decisions are made. Use creative brainstorming techniques to come up with new marketing ideas. Bring in “goodie bags” with random objects in them. Give one to every team member, and ask them how these objects could be use to solve the problem at hand. Remember, when brainstorming no idea is too wild.

4) Be sure to appoint a “go-to” person for each aspect of the marketing strategy. This ensures that people know where to turn when they have questions regarding specifics, and also creates accountability, ensuring all aspects of the plan are executed properly.

5) Focus on long term strategy. You business may need short term strategies, and it is acceptable to outline some of them in the marketing plan, but the marketing plan is really a long term plan and should be treated as such.


For additional information on writing marketing plans:

Hisrich, Robbert D. January 2002. Entrepreneurship. McGraw-Hill College.

KnowThis Tutorial: How to write a marketing plan
BusinessLink: Guide to writing a marketing plan

###
© 2005 Philip Wesley Budrose (pbudrose@student.nd.edu.au)
Student in Public Relations BS258
University Notre Dame, Australia (http://www.nd.edu.au)
Professor: Thomas Murrell (http://www.8mmedia.com)

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By
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Appendix


Hot Target Marketing Tips

No company can continue to exist without having to market there goods or services one way or the other.According to ‘David clark Murphy’, in the past, organizations produced goods and then looked to impose them on the public. This involved convincing them to purchase the product in a very nail biting face to face sales pitch, which over the years has lost its edge. More and more companies begun to produce the same products therefore giving life to this all important word,” competition”. Competition then lead to product oriented companies, rethinking their strategies and the birth of the marketing concept. The marketing concept is one where goods and services are tailored specifically towards the customer wants. To produce goods that the customers wants, an organization has to have thorough knowledge of who the customer is, where he lives, how much money he earns, the driving force behind his purchase decision . Rick smith the computer guerilla explains that in order to give the customer what he wants you have to remember one very important detail; “you are not our market”. Therefore knowledge of the market is imperative hence target marketing.
Tips towards successful target marketing include the following;

• Ensuring that the target market is large enough for the organization to make a profit after the sale of the product.
• It would of the business’s benefit to identify a common problem faced by the target market and them proceed to provide a solution
• Use the media to establish credibility for example print media such as television, newspapers, magazines or the internet.
• Find a regular means to communicate with your target market through means such as newsletters
• Ensure the price of the product is within your target markets reach.
• The target market for your product or services should be easily accessible.

No doubt businesses exist without following the above tips but the operative words are for how long .It is easy to overlook these tips on target marketing and presume to follow in the footsteps of ones compedititors, but what target marketing brings to the table is competitive advantage and maximum profit. Correct me if I am wrong but isn’t that what all organizations are striving to achieve?.
Link http://www.nd.edu.au

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