Written by contributor, Kristin Marquet
I often hear my clients, as well as other small business owners, use the terms strategic and tactical marketing plans synonymously. When they do, I get a little nervous, especially with established business owners because it tells me that they did not do their research and prepare adequately for that calendar year. However, once I am brought on to work with a client, I review current marketing plans and evaluate where they are getting the best return on investment and expand those areas to increase revenue.
Often times, businesses struggle or experience decline in revenue for a variety of reasons largely attributed to the fact that companies do not have strategic and tactical marketing plans in place.
To make sure you are getting the most of out of your marketing for the remainder of 2009, learn the differences between strategic and tactical marketing plans, and follow these tips:
Update your strategic marketing plan if you have one. If you don’t have a strategic marketing plan, create one from scratch. Strategic marketing plans are comprehensive that span a three to five year duration. Strategic marketing plans contain an organizational message, strategies on pricing, client acquisition and retention strategies, positioning, perceived benefits of what the company offers, how the message is conveyed and market segmentation. A strategic marketing plan provides a macro overview.
Next, update your tactical marketing plan. Tactical marketing plans involve the vehicle of distribution, essentially where the message is placed. Tactical marketing plans are short term and include ways to increase revenue over the next few months to one year. Tactical marketing plans provide a micro overview.
After developing these plans, here are some strategy ideas you can use to get revenue dollars flowing again in the short term:
- Collect email addresses from visitors of the site and start a newsletter
- Ask current customers how you are doing and if there is anything else you can do for them
- Get testimonials from previous customers and post them on your website
- Start a blog to interact with existing clients and prospects
- Offer to write bylined articles for industry publications
- Sponsor events if possible
- Write and distribute press releases to the appropriate media contacts
- Get involved with social media marketing such as Twitter, Facebook and Digg
- Offer to speak at events
- Network by joining the local Chamber of Commerce, Savor the Success and Beauties on the Go events
