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Monday, Apr. 21, 2014

CAEDC Action Report

Thursday, October 7, 2010

Building a Market Plan

We receive multiple web letters from different sources. These informational pieces are free of charge, are educational and very helpful to those operating a small business. We suggest that you sign up with Drew and get his helpful tips throughout the month. He always shares important marketing ideas some old time favorites and others that are new innovative ideas.

Key building blocks for your marketing plan brought to you from McLelland Marketing Group. Drew McLellan is an Iowa native and operates McLellan Marketing Group both online and from Des Moines.

Every business should have a working marketing plan. That means it's a document that you are actively using. It's not in a 3-ring binder. It's not gathering dust on a shelf.

Whether you already have a working marketing plan, need to modify your dust gatherer to be a useful tool or are just thinking of creating a plan -- here are some key do's and don'ts in creating your marketing plan.

Do less, but do it better: Most business owners make the mistake of being too ambitious with their marketing efforts. This results in starting many things, but never doing them consistently and well.

You're much better off to do fewer things but do them more often and better. This is one of the most common mistakes made, but now you can avoid it.

Balance your audiences: It's a natural urge to invest all of your marketing resources on getting new clients. But, that's shortsighted. The two most important audiences are your employees and your current customers. Be sure your marketing plan gives them enough attention.

At least half your budget and effort should be aimed at these two critical groups of people. If they can't sing from the company songbook, you're in trouble.

Don't put all your eggs in one basket: One of your goals should be to deliver a business' key messages through a variety of mediums. No matter how much you believe in word of mouth, direct mail, e-newsletters or an interactive website - don't land on any one medium. No matter how effective it is.

Stack up impressions by varying the media that carries your message. Just be careful that you don't overdo this one and end up violating the do less, but do it better rule.

Tune up your marketing plan with these rules and then put it to work!