Lighthouse Strategic Partners

How to Start a Marketing Plan

How to Start a Marketing Plan

1. Don’t even start a marketing plan without first coming up with your Unique Selling Proposition. What separates you from your competition? Why should I do business with you and not the other guy down the street?

2. Once you have your “USP”, do some projections. What are your breakeven numbers? What monetary goal are you setting for your business? What are you bringing in for revenues now per month?

3. How many customers do you have in a given month by average?

4. What kind of information can you glean from knowing your monthly revenue and your monthly number of customers? Answer…customer average spend.

5. Suppose you need to come face to face with, on average, 5 prospects to acquire a customer…What is your conversion rate? Answer…20%

6. What kind of information can you get knowing the average customer spend and your conversion rate? Answer….Well, a lot, but in this case I might want to figure out how many prospects I need to see face to face in any given week to reach my monetary goal for my business.

7. Once you have that information, it comes down to creating marketing strategies that work best for your business that will help you reach your goal.

That is another story…Come to our Quarterly Planning Day to help you find the strategies. Our next Quarterly Planning Day is on Friday, June 19th from 9am to 4pm at the Lighthouse Office in Middleboro.

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