DEFINING-AND-ALLOCATING-THE-GREAT-MARKETING-PLAN

DEFINING AND ALLOCATING – THE GREAT MARKETING/MEDIA PLAN

Robin Gronlund

Marketing & Operations

UVM Continuing Education

Planning Quotes

It takes as much energy to wish as it does to plan. Eleanor Roosevelt

By failing to prepare, you are preparing to fail. Benjamin Franklin

The wise man bridges the gap by laying out the path to get from where he is to where he wants to go.

John Pierpont Morgan

Start with Q&A

Elements of a “mini” marketing plan

– Who?

– What?

– When?

– Where?

– Why?

– How?

– By how much?

Get Clear

Who are you targeting? – Audience

– Ex: Students currently in their Junior and Senior year of high school

What do you want them to believe? – Key messages

– Ex: At UVM, high school students can experience college in a safe and academically stimulating campus environment

Why should they believe you? – Proof points

– Ex: UVM offers a Summer Academy featuring courses in Business, Engineering, Leadership, Sustainability, and Health Sciences designed specifically for high school students

Write It Down

What do you want to accomplish?

– Goals

– Ex: Be recognized as #1 source for pre-college summer experience in Vermont

By how much (measurable)? – Objectives

– Ex: Grow HS participation by 20% from 300 to 360 students

How will you reach your goals & objectives

– Strategies

– Ex: Utilize online marketing to reach regional audience

Write It Down

Where will you specifically engage?

– Tactics

– Ex: Create new website; Search engine optimize; Pay per click advertising

When will you engage? – Timeline

– Ex: Launch website on Nov 12

– SEO Optimization by Dec. 15

– Begin PPC on Jan 5 when parents begin thinking about summer programs

Marketing Channels

Evaluate engagement channels and investment – Website

– Pay Per Click Advertising

– Search Engine Optimization

– Online Banner Advertising

– Print Advertising

– Direct Mail

– Trade shows

– Publicity

– Social media

The Art of Budgeting

Top down thinking – Support your business goals and objectives

– Adequately fund your tactics

– Is in line with your business financials?

– Grounded in industry standards

Bottom up thinking – List all marketing channels and tactics

– Estimate costs

– Rank by "payback" potential $ = # of impressions

$ = # of leads

$ = # of conversions

Map Your Plan

Conversion Funnel

PPC Print Ad Radio Ad SEO

PR/Social

Media

Leads / Inquiries

Interest

Consideration

Anxiety

Buy

Use

marketing &

sales tactics

to create a

series of

“small”

closes to

move leads

down the

funnel to

conversion

Awareness

Marketing mix Traffic drivers

Tracking Leads

During a set time period

– Count something:

# of phone calls

# of emails

# of impressions

# of web hits

# of purchases

Measuring ROI

100,000 Impressions

10 proposals

2 new

customers

100 Inquires

Marketing

Tactic

times .1%

expected

response rate

times 10% to

proposal

times 20%

close rate

# new customers times revenue

2 x $15,000 = $30,000

Marketing expense as % of revenue

$5,000 * $30,000 = 16%

Budget = $5,000

Approx. 16% of expected revenue

Wrap Up

Planning doesn’t have to be hard

Get started with a 1 page Mini Marketing Plan

Write down answers to questions

Estimate a simple % of revenue marketing budget

Map out a timeline

Track your results

Questions

Robin Gronlund

UVM Continuing Education

[email protected]

http://www.uvm.edu/summer/precollege/