The Business Edge Blog

August 15, 2012

7 Keys to Success for Business Owners – Part 4 – The Marketing Plan

Every once in a while I meet a business owner who says they don’t need to market their business. I congratulate them and ask them how they know that they don’t need to market.  Usually they have as much business as they can handle currently and think that more marketing will only increase the number of people wanting their product or service.  They are probably right on both accounts.  So, what about the option of expanding the capacity of the business?  Why choose to stop marketing?  I like the saying –

“Don’t wait to dig your well until you are thirsty.”

In my interpretation this means don’t stop marketing because your business is at capacity now.  If anything happens to the current clients you’ll be looking for more.  If you decide to increase the capacity of the business, you’ll need the additional clients/customers to fill the new capacity.  In most businesses marketing today does not mean new customers tomorrow.  Prospects need to know about you, grow to like you and trust that you will meet their needs.  That means you should be marketing your business all the time.

I ask my clients to create a Marketing Pie.  Draw a large circle on a piece of paper.  Divide the pie into quarters by drawing a big + through the middle.  Then divide each of the pieces in half by adding a large X through the middle of the pie.  You should now have an 8 slice Marketing Pie.  Each section of the pie will represent something you actively do to market your business – active marketing, not passive marketing like an ad in the phonebook.  If you represent your business in a BNI group, or attend other networking groups where you promote your business (and not just chat with friends) label one slice of the pie Networking.  If you have a booth at quarterly business tradeshows, label a slice of the pie Tradeshows.  If you educate your prospects by giving seminars, label a slice Seminars.  If you consistently write a blog promoting your business, label a slice Blog Posts.  Consider all the other marketing you do and if it is active, label a slice of the pie to represent the activity.  If you have more than 8 active marketing strategies, don’t make your slices smaller, create another pie!  If you have unlabeled slices in your one and only pie, let’s talk!  We need to fill the empty slices with something you will add to your marketing strategy.

You should have at least 8 active marketing strategies identified on your pie.  The next step is to schedule the activities (each slice of pie) on a calendar so that you know when, where and what you will be doing to actively market your business.  This becomes your Marketing Plan.  If you are blogging or giving a 60 second commercial for any of the marketing activities, you can enter the blog topic or perfect referral that you want to mention in each of the calendar entries.  One of my clients has developed a spreadsheet with the months across the columns and the weeks down the rows as well as room for the topics for each of the social media sites he uses.  He plans his marketing activities a couple of months in advance so he can keep an eye on his marketing plan.  Click here to download a copy.

What does your marketing pie look like?  How well did it fill a calendar and create your Marketing Plan? How many hours a week do you spend actively marketing your business?

I look forward to hearing from you.  Share your comments below.

Until next time – Remember to mind your business!

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