Set Your Plan Objectives Start your plan by considering a set of specific strategic and qualitative (numerical) goals. It’s best to start by writing those initial goals on paper so that you can develop your plan to meet them: Strategic goals -‐-‐ for example, you may want to expand into a new market with a new distribution channel, or you may need to reposition your brand to reflect a change in your business. Quantitative (numeric) goals such as total revenue, profit, number of customers, units sold, and breakdowns by product or channel as needed.
Summary EXERCISE SUMMARY
When to Address
Who Should Participate Where to Use the Results
If you’re entering any type of revenue planning or budgeting process for any timeframe When you’re creating your annual budget If you’re an entrepreneur just launching a new company Business leaders: company founders, owners, presidents and vice presidents Marketing and sales leaders Throughout the balance of the Marketing Plan & Budget section; you’ll reference these throughout the year, and your objectives will influence your entire marketing plan.
If you haven’t set strategic and quantitative goals, you won’t know what you’re striving to achieve or be able to measure your progress or success. The rest of the elements of your marketing plan What Builds Upon it 15 minutes to an hour Timeframe to Completion Medium to High – for all Marketing Plan exercises Potential Business Why it’s Important
Marketing Plan Set Your Plan Objectives
page 1 of 5
Impact Deliverable Next Steps
You’ll define your strategic and numeric goals to achieve. Define your competitive positioning.
Target Completion Date
PARTICIPANTS TASKS
PERSON RESPONSIBLE
DUE DATE
Notes
Marketing Plan Set Your Plan Objectives
page 2 of 5
Set Your Plan Objectives
What to Complete
1. ESTABLISH STRATEGIC GOALS 2. ESTABLISH NUMERIC GOALS
Where it Fits in Marketing Plan & Budget Determine Marketing Plan Scope Establish Strategic Goals Establish Numeric Goals Define Competitive Positioning Define Brand Strategy Explain Product and Pricing Strategies Input Numeric Goals by Category Calculate Number of Leads Required Describe Distribution Strategy Outline a Direct Sales Plan Identify Sales Tools & Literature Outline Strategic Partnerships to Pursue Create Customer Retention Plan Identify and Describe Marketing Campaigns Develop Marketing Budget Create Marketing Management Plan Write Final Marketing Plan Document
1. ESTABLISH STRATEGIC GOALS
Describe any high-‐level strategic goals you have for your product, service and/or company. Below are some suggestions to get you started. In the next exercises you’ll outline detailed plans for your positioning strategy, target markets, pricing, etc. For now, just try to stay at a high level.
Marketing Plan Set Your Plan Objectives
page 3 of 5
POTENTIAL GOALS Increase market share
RELEVANT?
Overtake competitor
Better represent value proposition
Better represent brand promise
Add distribution channels
Create strategic partnerships
Increase publicity
Enhance online selling ability
Other
Improve selling process
GOAL TARGET
Do you have any other goals that you haven’t already identified? Touch on them here.
2. ESTABLISH NUMERIC GOALS
Marketing Plan Set Your Plan Objectives
page 4 of 5
Now jump into the numeric goals. Later you’ll drill these numbers down even further – right now, just focus on high-‐level quantitative goals. Here are some suggestions. Change and add as you wish, and check the goals that are important to you and work with your team to establish the values. POTENTIAL GOALS GOAL VALUE(S) NOTES Gross (total) revenue Revenue from new customers Revenue from existing customers Number of new customers Number of total customers Goals by distribution channel Goals by client type Goals by product line Other
Marketing Plan Set Your Plan Objectives
page 5 of 5