“Smart Marketing” is the key to holding onto existing customers and attracting new prospects.
A successful marketing strategy begins with a plan. Not the kind of plan you write for owners and stick in a drawer never to be seen again — but, a detailed tactical plan with actionable steps, a critical path schedule and a line item budget.
Daunting? Perhaps. However in the end it will drive your success and be tremendous help in the future. A detailed plan will allow you to communicate a single strategy to all of your partners, agencies, owners, employees, as well as assist in holding others accountable for their roles in the overall success.
Some easy tips and steps for writing an actionable marketing plan:
Start Early. Give yourself 90 days to develop your plan. Keep in mind, you will need to kick off execution of your plan 90 days prior to the new fiscal year. For example, if you’re on a calendar year schedule — you should be launching 1st quarter initiatives by October 1 — requiring you to begin development of your marketing plan in July.
Analysis. Review your current expenses. How did the money get spent over the last 12 months? What was the return?
Objectives. Understand the sales goals for each segment. Using hospitality as an example: Analyze group, transient corporate, transient leisure, wedding, F&B, spa, and other outlet’s revenue goals and projected growth year over year.
The Money. Meet with your CFO — understand what your total marketing budget expenses will be for the year. Also, learn what are the non-negotiables — i.e., items hitting your budget whether you like it or not!
Action. Separate each segment and start with the objectives. How will marketing impact and help achieve segment goals? Outline tactical executions as they relate to these categories:
Ensure each tactic has a suggested ROI associated with it as well as a cost.
Develop an accurate deck of reports to track, monitor and showcase success as well as failures. If something isn’t working — switching gears is critical.
Critical Path. Develop a detailed calendar outlining the start dates and steps required to complete each and every task by deadline.
Communication is critical. To have a plan that outlines objectives, strategies, and deadlines helps everyone succeed and stay ahead of the game. Need help? Contact us to learn about our marketing plan development services.