Things To Consider When Creating A Marketing Plan

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A marketing plan is a comprehensive and detailed report written on marketing objectives and the marketing strategy to be used in the coming financial year. The business activities outlined in this plan help an organization in working towards the accomplishment of its objectives in a certain time period. When you are a business startup or a small business, it is imperative to understand the importance of having a marketing plan and even more essential to have one in place as well. Without pre-defined goals and clear directions, you cannot hope to achieve your desired target. Hence, forgetting a marketing plan is not an option!

Below are some factors mentioned that you, as a business aiming for success, need to consider when creating a marketing plan.

What is your Unique Selling Point (USP)? 

A unique selling point or proposition is what makes your business stand out in the eyes of a viewer or customer. It is something that your business stands for and that sets you apart from other businesses, making you unique. Having USP’s is a must for businesses as advertisements and promotions are going to feature and highlight it, making them known for that specific quality. Therefore, first of all you should be identifying your USP, followed by utilizing it in your marketing plan to develop suitable promotions and advertisements.

Who is your customer/target market? 

Customers are one of the most valued stakeholders of a business as they are the ones who are being targeted with your goods and services. Therefore, you need to have a clear picture of your target market and the persona of your potential customers; extensive primary research will need to be carried out to define the characteristics (qualitative and quantitative) of your customers. Detailed information about customers will give your marketing team a clear cut picture of the people your business is looking to appeal and will consequently aid in structuring more precise objectives and strategies.

What challenges do you face when selling and how can you overcome/address these? 

Small businesses and startups face a lot of competition in their initial stages. To overcome obstacles you encounter on your road towards achieving your objectives, you need to first identify the challenges you face and the areas you lack in. Once you are through with analyzing your current situation and the identification stage, you need to think about solutions you can work towards by working on your marketing mix. This analysis will provide great help when drawing out marketing objectives and strategies, making them more comprehensive and relevant.

Which channels will work best for you? 

Channels of distribution are pathways through which the products or services of a business are made accessible to the end customer. Choosing the best channels is critical as these will greatly affect your position in the competitive market and aid convenience for your customers. Once the channels have been chosen and cleared out, the marketing team will be in a better place to draw out specific goals and strategies related to them.

What is your marketing budget?

This is one of the most critical factors affecting your marketing objectives and strategies, as the budget will set the benchmark for your marketing spending. With a pre-set value for this budget, marketing managers and directors will be able to think about solutions and activities allowed by their budget. As a result this will undoubtedly save time and effort which would’ve been wasted otherwise if the budget would’ve been evaluated later.

How can technology help? 

There have been great technological advancements over the years, aiding marketing activities (promotions, advertisements) greatly. You need to figure out ways in which modern technology (Internet, social media, emails, text messages, online sponsorships) can make the implementation of your strategies more effective and efficient and allow you to reach a larger target audience.

Time frame – set goals and deadlines for your business 

While setting goals, you need to make sure that they aren’t vague or irrelevant and your deadlines are realistically achievable in the time frame you have chosen. Realistic and relevant goals will help you in formulating a marketing plan that serves as a motivator for your entire marketing team. Furthermore, it gives them a sense of direction and a pathway to follow, without which no team can hope of achieving their final objectives efficiently.

Ada ObiThings To Consider When Creating A Marketing Plan
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The PowerPoint 10/20/30 Rule for Winning Sales Presentations

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As a support business, one of the services we provide is working with our clients to create sales presentations which have helped them in winning big deals and acquiring key customers. One of the reasons that our presentations work well is because we have taken some tips from one of our business icon – Guy Kawasaki.

Kawasaki is a Silicon Valley based marketing specialist and venture capitalist who also writes a blog. He has come up with a great formula for the perfect PowerPoint presentation. He explains that he came up with this idea after observing hundreds of entrepreneurs pitch their companies to him.

On his blog he admits that most of the pitches he has to listen to are not worth his while and, that going through sixty slides about a startup acts as a catalyst for his tinnitus, an illness he suffers, which causes a constant ringing in his ears starts.

Kawasaki puts a little humor to the situation and says that, “To prevent an epidemic of Ménière’s in the venture capital community, I am evangelizing the 10/20/30 Rule of PowerPoint. While I’m in the venture capital business, this rule is applicable for any presentation to reach agreement: for example, raising capital, making a sale, forming a partnership, etc.”

So what is this 10/20/30 rule exactly? What does it mean and how can you as an entrepreneur use it in your own company to win business deals? Read on to find out.

Ten Slides

The ideal number of slides in any PowerPoint presentation is ten. This is because a normal person cannot understand more than ten concepts at a time. If for some reason you need to use more than ten slides for your pitch, you probably don’t have a successful business. The ten topics of interest are:

  • Problem
  • Your solution
  • Business model
  • Underlying magic/technology
  • Marketing and sales
  • Competition
  • Team
  • Projections and milestones
  • Status and timeline
  • Summary and call to action

Twenty Minutes

These ten slide should be explained in twenty minutes. That means two minutes for each slide. Even if you have an hours’ time slot, it is better to leave the extra time to configure the laptop with a projector and any questions and answers after the presentation.

Thirty-Point Font

A number of presentations you see today have a standard ten-point font. This is obviously done to cram in as much text as possible into one slide. People think that loading all the information they have into one presentation is a good move. It’s really not. Since there are low chances that the presenter will have it all memorized, they often read from the slides. Once the audience realizes that the presenter is reading, they read it themselves to save time. The result is simple: the presenter and the audience are not in sync. Always use a thirty point font.

So if you want to pitch your presentation successfully, practicing the 10/20/30 Rule of PowerPoint will help keep your audience’s attention focused and get your pitch to the point.

You can find a link to Kawasaki’s very helpful blog here

Ada ObiThe PowerPoint 10/20/30 Rule for Winning Sales Presentations
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10 Excellent Time Management Tools for Busy Team Leaders

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In an entrepreneurs world, the one thing which matters the most is time management. It is very crucial to pay attention to managing your time, as an ability to manage your time leads to profitable results. Of the many benefits which technology has introduced to the life of an entrepreneur, one is the ability to use technology for effective time management.

Here, we have discussed some of the most amazing apps and tools present in the market with which you can manage your time and streamline your work routine:

  • Google Calendar
    It is one of the finest apps with which you can save time and make most of your day. With this app, you can keep a track of all scheduled meetings and events, and get rid of the fear of forgetting them.
  • Rescue Time
    With this app on your side, you can get to know about the time you have been spending emails, social media, and other unproductive websites. Using this information, you can re-routine your daily engagements.
  • Planner Pro
    This app helps you centralize all of your daily agendas on a single screen. It comes complete, with a daily calendar, task manager personal organiser all in one. You can reduce the stress by synchronizing all of your calendars and knowing about upcoming meetings and deadlines.
  • 1-3-5 List
    Prioritize your tasks on the basis of their importance. The most important ones are put at 1, ones with medium importance at 3, while the least important ones at 5.
  • Toggl
    It is a super-easy app to get started with. The app allows you to track the billable time related to your routine. You can synchronize projects, develop detailed time-tracking reports, and align it with several project management tools as well.
  • Remember the Milk
    Maintaining a to-do list of all the things you wish to perform makes it easy for you to accomplish them. With this app, you can set reminders and free yourself from disasters of forgetting important things.
  • Nirvana
    Nirvana is a cloud-based task manager which helps you to keep your life in an orderly manner. Things become easy when you know what to do and when to do. With this app, you always know your next action.
  • Dropbox
    Data sharing is the backbone of any enterprise. With the help of this app, you can ensure smooth and speedy transfer of data, thus saving a lot of precious time which you can use on other productive things.
  • My Life Organised
    If you find it hard to manage your tasks, then this app is definitely for you. It helps you focus on things which are of most priority. It automatically generates to-do lists and enlists priority call to actions.
  • myMemorizer
    By managing a web calendar on this app, you can get email and SMS alerts regarding the upcoming events, important tasks, and other things.

The introduction of state of the art tools and smartphone apps means you can design, implement, and provide adequate follow-up to customers & clients in a calculated way. With the apps on this list, you can take steps to ensure your life and business are as a lot more streamlined, smooth and stress free.

Ada Obi10 Excellent Time Management Tools for Busy Team Leaders
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