Welcome to the 8 Hour Marketing Plan. I have condensed over 30 years of marketing experience into 8 - 1 hour sessions. You can do all of these lessons in one day, once a week, once a month, or whatever works for your schedule. Note that while the sessions should take about an hour, the time it takes to reflect on the content and put your plan into action will be ongoing.
I’ve broken marketing strategy into 7 key concepts, 3 are strategic and 3 are tactical with the final key being to measure and make improvements.
Here’s a breakdown of the sessions:
No Time for Marketing
Sounds great, but who has time for marketing? I worked for FranklinCovey, a company that specialized in time management, for several years. Stephen Covey, the co-founder, created a time management matrix based on importance and urgency.
While we will discuss determining importance in session 3, Define Your Purpose, this course is not focused on time management. The core insight is that creating a marketing plan falls in quadrant II - it is important, but not urgent. Few if any people in your life are going to be clamoring for you to create a marketing plan, however it could be one of the most important and high leverage things you can do for your business.
Session 1 Checklist
Complete the following before continuing to Session 2:
What is your marketing budget? Yearly, monthly, and by % of sales
What is your break even? What do you need to sell to pay your expenses?
What is your customer acquisition cost/budget? What does it cost you to get a customer? How much can you afford?
What is the value of a customer? What is the average amount a customer spends with you per visit? Over a lifetime?
Have you scheduled time to be strategic? Put time on your calendar now to finish this plan.