FlitePlan Basics
There are several basic marketing concepts every company should revisit
at the beginning of each new year. These tools will simplify the
complexity of corporate marketing and allow you to focus on the basic
marketing plans and resources that every successful company needs to
have in place.
1.) Marketing Budget. A marketing budget is
often provided to a marketing department within a company and then a
marketing plan is formulated around those marketing numbers.
However, it often is the task of the marketing personnel to develop a
budget for the company. The number to shoot for is five to seven
percent of the company’s gross income each year.
2.) Marketing/Advertising Annual Plan: This
plan should feature all of the marketing and advertising campaign’s
projected for the company with costs associated for developing those
campaigns. Special Events and Advertising need to be included in
this plan. This will make planning and even budget cutting an
easier task if each campaign or initiative has been thought-out in
advance. An annual plan is also a guide for marking campaign
success and failure.
3.) Creative Check: Prior to beginning a new
year of marketing and advertising initiatives, sit down with your
creative team (internal resources and external resources) and review
the previous year’s campaign. Take all of your printed material,
interactive images and slogans; place them on a table together and
review your message and concept. This activity will assist you in
developing a more cohesive message and it with further your brand
direction.
4.) Target Market Comparison: Take a look at
your target audience. Compare your target market to previous
years. This activity will help you to create marketing campaigns
that are targeted at the audience you are interested in. Write
this information down and save it from year to year. This will
aid you in developing a clear picture of your most lucrative and
responsive market.
5.) Competition Analysis: Knowing who your
competition is, is vital to the success of your marketing and
advertising strategy. Research who could win your accounts, steal
your clients, or bid on projects against you. This information
will keep your marketing strategy fresh, but consistent with what is in
the market place today. Competition is health, it is what drives
us to move our brands forward and understanding your competition will
make your brand competitive in your market segment.
The basic marketing concepts outlined above are often ideas we were
taught in school and have used once or twice in the work place.
They are simple concepts that carry a lot of weight in planning out
your corporate market strategy.