Chapter 2 Business, Strategic, and Direct Marketing Planning

Plans plot the course to reach a set of stated objectives Short term goals act as benchmarks Benchmarks help us to recognize when plans need adjustments Today we review plans annually or even quarterly

Three Key Strategic Questions Where should we focus the effort and why? What do we bring to the table? Do our core capabilities suit our position?

My Question Preference Where are we now? Where do we want to go? How do we get there?

Strategic Business Plan Help attract outside investors and financing – Key concepts – Establish a market – Outlines organizational structure – Financial projections

Stratigic Plan Introduction – Describes the purpose and scope of the plan – Specifics the time frame of the plan Direct Mail Five year plan to dominate the direct mail advertising business in the Oklahoma City Area

Executive Summary Scope,objectives, SWOT, mission, vision, products/services, investors, financial and growth plans Needs to be brief and be able to stand alone and communicate the important directives and conclusions of the plan

Goals and Objectives Highlights Achievements and time frame Relates achievements to the stakeholders Grow revenues by an average of 20% annually over the next 5 yrs. Control 60% of all Direct Mail Advertising Revenues in the OKC area

Situation Analysis Competitive analysis Market analysis Enviromental analysis Size of current market $25 million Market Share report competitors and estimate of customer expenditures Industry Growth Projections

SWOT Analysis Key strengths and weakness of the organization Key opportunties and threats in the marketplace Strength: contact strength, realitive newcomer Growth industry, players outside the immediate marketplace

Mission Statement What do you do and how do you do it Unique? Synergistic advertising contact Analytical and creative expertise

Vision Statement What will the business look like Translated into behavior within the organization One contact advertising source Clients needs first resulting in the most effective advertising

Businss Values Principles governing the business and its relationship with stakeholders (customers, partners, community) Maybe included with the vision or mission statement

Additional elements Key Strategies Action Plans Financial Plans Performance Measures (what are the metrics)

Message Strategy Brief Client Product Project Key Fact Communication Objective Creative Strategy – Prospect profile – Competition – Current/Change Preception – Current/Change Behavior – Proposition – Reason Why – Secondary Support – Legal & policy factors