Pulling together your marketing strategy for 2019

2018 is fast coming to a close…can you believe it? If you haven’t already started to think about it, now is the time to be planning what you’re going to do with your business next year. It’s also a time to look back on what has happened this year – what worked well, what didn’t. So, before Christmas is here, it’s time to take stock, get your thinking cap on and decide what you want your business to achieve next year.

OK, what’s first?

The Seven Ps

If you haven’t already got a mission or vision statement, now is the time to write one. A mission/vision statement is just a couple of sentences stating what your business is, who you’re selling to (your target market), what you’re selling and what makes you stand out from the crowd. Once you have this, you can start working on how to market your business…to help me focus on every aspect of my business, I use the seven Ps…

money-2696234_640

  1. Product(s) – what is it about your product that makes your customers want to buy it? Do you need to change your products in any way to meet your customers’ needs?
  2. Pricing – how do you aim to compete with your competitor’s pricing? Do you want to match it… undercut them… or do you want to charge more for a more quality product and service?
  3. Place– where and how are you going to sell your products? Do you sell them yourself or outsource them to retail outlets?
  4. Promotion– how are you going to let your existing and potential customers know about your products? This includes thinking about advertising, PR, direct mail and personal selling.
  5. People – this refers to who works for your business, including yourself! Do you create the right impression and provide excellent customer service, so your customers have a good customer experience? I’m sure you do, but never forget to keep learning, training yourself and any employees to develop relevant skills to deliver your brand and excellent customer service.
  6. Process – this includes the processes involved in delivering your products to your customers. Are you easy to do business with? Is it easy for customers to find your products? If you have a website, is it easy to navigate? Are your contact details prominent, so you are easy to contact?
  7. present-2891870_640Physical – everything your customers see and feel when interacting with your business. This can be from the physical environment of your shops, office or wherever you provide and showcase your products or services, to meeting you face to face and how you come across to them, how you act and relate to your customers. It also includes your packaging and your branding.

Set your objectives

Now you can plan the future of your business. What objectives do you want to achieve? Get yourself a cup of tea or coffee and sit down with your laptop, tablet or good old pen and paper, so you can write each one down.

Each objective should include a description of what you intend to achieve, a goal if you like, and should include numbers to aim for. For example you might want to sell more of February-Stok-Photoa particular product, but just saying you want to sell more isn’t enough – you need to be specific, so you have something concrete to aim for. For example, say you have a crafting business and you make rag dolls. An objective might be to sell 40% more rag dolls in 2019, than you did in 2018. This gives you a solid and specific objective.

Don’t be tempted to write a long, long list of goals or objectives – aim for a maximum of five to six or you will find it all overwhelming and you won’t achieve any of them. As you achieve each objective throughout the year, you can add more then.

beard-2286440_640Once you have your list of objectives, put them into a timeline – what you want to achieve and by when. This makes it much easier for you to review at a later date. I usually put a date in my diary at the beginning of the year to review my business objectives every three months…of course, I’m not always brilliant at keeping to that date, but by having it in my diary, at least it’s a reminder and I do review things…even if it’s a couple of weeks after the date I originally set!

How will you achieve your objectives?

Now, go through each objective in turn – you already know what you want to achieve and when you want to achieve it by. Next on the list is how you are going to achieve each of those objectives. Let’s go back to that earlier example – you want to sell 40% more rag doll-1043499_640dolls over the next 12 months. You know what you want to do – you know when you want that result. How are you going to sell that extra 40%? These could be some of your options…

  • Get your rag dolls into a retail outlet, café or craft shop
  • Start selling your dolls at a local craft market or at craft fayres
  • Start an online shop on Etsy or Ebay
  • Sell the dolls using party plan – people have an evening at their own home and invite their friends. You show the dolls and potential customers get to see them, touch them and hopefully put in an order

Put all your objectives, what you want to achieve, your timescale and how you’re going to do it into your timeline. This makes it easier for you to see at a glance what your business and marketing plan is for next year for each of your objectives. It also makes it easier for you to review at a later date.

Measure your success

tape-measure-1186496_640The last thing on your list is how will you measure the success of each of your objectives? Sticking with the rag doll example, this is an easy one – each quarter, measure how many more dolls you have sold compared to the same time last year. To achieve your 40% increase over the course of the year, you need to see a steady increase in sales from the new selling strategies you’ve put in place.

I hope this has helped you to start planning your business and marketing strategy for 2019.

If you would like to receive a free Goal Setting Timeline template, please fill in your name and email below and I’ll be happy to send it to you…Happy Planning!

Ten essential tips in making a good business plan

business-idea-1240825_640.jpg
A good business plan is exactly what it says on the tin – a plan for your business; how it’s going to succeed and what you need to do to make it grow.

Having a business plan forces you to look at the feasibility of your business, what will work and what won’t work….and makes you focus on the important and essential parts of your business – your next steps, tactics and strategies.

Here are a few tips on what to include, making sure you cover the essentials.

  1. Executive Summary – this is a brief overview of the whole plan. Detail what you do, how your business will make money and why customers will want to buy your product or services. This is best done after you have completed the rest of your plan.
  2. Analyse your market – it is worth investing some quality time in researching your market.
    – Look at what your competitors do – how are they successful and what makes them stand out from the rest?
    – Look at the price, quality and customer service that your competitors offer – then you can work out how to compete.
    – Where are the opportunities for your business – why will potential customers choose your products over those of your competitors?
    – Are there any barriers in place that may prevent potential customers from choosing your products or services?
    – If your business is already up and running, what do your customers like about your products, what do they buy; why do they buy from you and do they give you repeat business?
    The more you know about your customers, your competitors and the business you are in, the more likely you are to be successful.
  3. Business description – what it is, what you do.
    – Include a brief history of how and why you started your business.
    – Include your vision or mission statement – factors which you think will make your business a success
    – What is the current position of your business?
  4. Business goals – what are your business goals. For example, if you’re already in business, by what percentage do you wish to grow by this time next year? How many customers do you expect to have by this time next year?
  5. Management teams and employees – If you employ others, give details of your management team and employees and what their roles are.
    – How do they work together?
    – Do they all know what is expected of them and how they can help improve the business?
  6. Operations – what is in place now and what do you plan for the future?
    – Look at premises you currently work from (it might just be from home). What will you do if your business expands – what premises will you need to ensure your business succeeds?
    – Who are your suppliers? What happens if you lose one of your suppliers and do you have others as a back-up?
    – Do you need to have any training in a specific area to help your business move forward? For example, if you’re a hairdresser, how do you keep on top of current styles?
    – Is there any equipment or materials you may need to invest in? For example, wear and tear on your current equipment – or maybe you may need more advanced software in the future.
    – If you run an online shop, what happens if you get overrun with orders – can you keep up with them and get them out on time with packaging and postage?
  7. Financials – keep a record of what you spend and what you receive.
    – Are you likely to have cash flow problem – if so, how will you deal with it?
    – How much does your business currently cost to run and what is it likely to cost in one year – or two years’ time.
  8. Marketing strategy – this is where you define your tactics and strategies to ensure that you are successful – only needs to be brief in the business plan – you can be more specific in your marketing plan.
  9. Risk analysis – what could go wrong – look at best and worst case scenarios.
    – If something goes wrong, how will you deal with it?
    – Include your contingency plan
  10. Measurement – this is a really important aspect in a business or marketing plan, but often something that is overlooked. Measuring everything you do ensures you know what works and what doesn’t. You can then plan a different approach if necessary.
    – List what needs to be measured – such as how many people look at your business Facebook page or Tweets on Twitter. How can you improve on this?
    – How will you measure your success – what does success look like to your particular business?
    – Shout about your success – your customers will feel reassured they are dealing with the right business

team-3639693_640Once you have finished your business plan, you can write your Executive Summary.  Then leave it alone for a few days and go back to it with a fresh pair of eyes. You can then make any necessary adjustments.

I can’t tell you how long it will take you to complete your business plan – every plan is different and it will depend on you. Business planning takes time – you need to spend quality time on researching and planning your business and marketing strategies.

Take time out at least once every three months to review your plan. Some things you planned will have gone well, others not so well. A business plan is a working document. It’s never finished…always a ‘work in progress’.  Having a business plan won’t guarantee you success, but it will go a long way to helping!

If you need help writing and researching your business plan, please feel free to contact me by email – cindymobey@outlook.com or via my website, www.cindyfreelancewriter.com