MM3 - Marketing Plan - Part 2

1

The Boring StuffThe Marketing Plan

(2)

@MMIMATTERS #MFGMARKETING MMMATTERS.COM PODCAST: MANUFACTURING MARKETING MATTERS @BRUCEMCDUFFEE

2

Recap• The advantage of creating a

proper marketing plan

• What is not a marketing plan

• Parts 1 – 4

• Current Situation

• Objectives & Critical Issues

• Market Analysis & Decisions

• Marketing Strategy

• Did you find out if your firm has a marketing plan?


@BRUCEMCDUFFEE WEBSITE: KNOWLEDGE.MARKETING 3

5. Marketing Programs1. Based on previous decisions about market, strategy,

objectives and critical issues

2. Programs or promotions might include:◦ Advertising◦ Events◦ Social media◦ Direct mail◦ Digital ads◦ Public Relations◦ SEO & SEM


6. Financial Plans & Information1. Financial Metrics

◦ State clear targets for revenue growth, profit, EBITDA, gross margin, etc.

2. Marketing Budget


7. Measurement & Controls1. Tools to link marketing activity to opportunities & revenue

2. Choose revenue metrics for the C-Suite

3. Keep marketing metrics within the marketing team


8. Executive Summary

1. Write the Executive Summary last, but put first in the plan.


How to Get Started1. Collaboration is critical to success

2. Who will need to understand when you tell them ‘no’?

3. Set expectations◦ It is a living, dynamic document◦ It is an agreement between the departments◦ It can be modified, but must be further

agreement


8

Takeaways1. Assess your firm’s financial reports (if

available)

2. Is there any information or has there been an attempt to tie marketing activities to financial results?

3. Assess the perception of Marketing within your firm.


9

Congratulations, you’re on your way to a New Way to Market!Join the Manufacturing Marketing Institute – MM Academy today!