Artwork for podcast Growth Velocity Show - Digital Marketing, Growth Hacking and Startup Tip‪s‬
How to Create an OUTSTANDING Marketing Plan
Episode 1325th September 2021 • Growth Velocity Show - Digital Marketing, Growth Hacking and Startup Tip‪s‬ • Howard Kingston
00:00:00 00:13:19

Share Episode

Shownotes

How do you Create an outstanding Marketing Plan?

Everyone hears about the importance of a marketing plan, but only a few people know how to do it well. A marketing plan provides focus, clarity and consistency within your business and is essential in helping you plan and manage resources effectively.

In this Episode, I want to discuss with you the 3 most important things to include when creating your marketing plan and how it can be the most important part of growing your business.

Tip #1: 3 Activators

Tip #2: Choose Your Channels, then R&D

Tip #3: Timeline

Bonus Gift! A FREE Marketing Plan Template to apply to your own business. Just email courses@growthvelocity.co to claim.

To download your Free Growth Tool Kit, visit www.growthvelocity.academy/podcast

Follow us on Instagram: https://www.instagram.com/growthvelocityacademy/

Transcripts

0:29

Welcome to the growth velocity podcast where you learn from the world's greatest entrepreneurs, marketers and changemakers to help you get the success you are destined for faster. If you are looking for growth in your business and life, you are in the right place. here's your host, Howard Kingston growth velocity podcast.

01:01

Hey guys, Howard Kingston here: entrepreneur, marketer and co-founder of growth velocity academy. In this episode of the Growth Velocity Show we're going to talk about how do you create a great marketing plan [Music].

01:31

When I meet marketers, like, everyone Kind of has heard of this thing called a marketing plan but in my experience like there's a lot of people like everyone knows has heard of it but very few people know how to do it. And over years of working, you know with growing my own world-changing businesses, SaaS businesses, technology businesses, stuff like that, and working with thousands of other marketers, I know this is a real problem in the market. Um people just don't know How to do it and it's so so important.

02:07

I remember I was working with one marketer, one entrepreneur, maybe a year or two ago and I was really helping them coach them through their launch plan. For their business they'd raised about half a million in investment and it was really important they got that launch plan really really well, launch and marketing Plan. And I remember there was a kind of, I was like coaching the the entrepreneur and the marketing team and there was a junior marketer in in the in the team. And I remember I would go in and I would help coach them. Kind of usually on a Monday and I'd help them set out exactly what they needed to do in the week. And I remember the junior marketer saying to me, how do you know what needs to be done? You seem to just kind of come in and it's just like very quickly you go boom boom boom boom, this is what needs to happen this week… and uh like how how do you know how to do that? Like I just feel like I'm kind of day to day. And that's what he said to me and guys it's my answer to him was my answer to you it's all about the marketing plan.

03:14

It's actually not magic, I would just have a plan that I spent some time on, uh when just before we launched the business and I would just go back to that and I've already mapped out what needs to happen every single week and all I need to do then is just just double check, have we done all the things that we said we’d do? Are we still planning to do all the Things that we have said we want to do? And if so what, what are we going to do this week? All right and it's just super simple and that's the importance of the marketing plan. That business did pretty well, uh did about a million dollars worth of sales in about eight weeks after it launched, and then got it actually got acquired by another business after about four weeks of launching. Not a bad result and I really do believe a lot of that is down to the strength of the marketing plan that we put in it, because getting customers was not a problem for that business. So, let's talk about how do you create a great marketing plan?

04:13

Tip number one is you need what's called the three activators. The biggest mistake I see people make and I always ask a Couple of questions when I'm coaching a startup or I'm talking to an entrepreneur or a business owner. There's a couple of questions I ask about you know, what you know what the business does and all this kind of stuff. And I can tell quite quickly they don't have these three activators in place. And what we call activators, I call activators at Growth Velocity Academy Are the three things that underpin a good strategy. You cannot create the plan until you know these three things. All right, you just can't create it and like very often I always ask people like what do you think is the first thing that should go on to a marketing plan, and i hear things like budget, channels… but guys how do you know how much budget you need Until you have some of these other things figured out? And one of these activators is, for example, what are you trying to achieve? What's the number of customers and revenue you're trying to generate from the activity in the marketing plan?

05:25

You see a lot of people just go oh, let's use TikTok, let's use Instagram, without having a goal in mind. Okay now there's a system that the military use called backwards planning, and it's all about creating a goal in with a number, which is called a Smart Goal. Smart Goal was very specific and measurable. Okay and I'd like to use customer numbers and revenue there, and once you have that number then you can work backwards from that and you can figure out, okay, to achieve That, how much budget will I need? Can you see? So if anyone asks me uh what budget do I need for this? And my one question is: to achieve what? I don't know if you're trying to get a million users in six months or you're trying to get a thousand users in six months. Obviously the budget is going to be different. Okay and obviously the channels you use are probably going to be different and the team size will have to be Different. So how do you create the plan without knowing what you're trying to achieve, okay so that's just one big takeaway.

06:34

So, Tip number one is you gotta use the three activators. One is having a really clear objective. Two, have getting really dialed in in your into the mind and the psyche and the psychology of who you're selling to. There's a whole process we bring um, Our clients through on that. And then Third is really getting your messaging and positioning on point. All right um, easy to say you know that's one of the things that'll make one of the the difference and there's again a process we bring people through on that that makes all the difference. Okay so tip number one get the activators on point.

07:10

Tip number two, is choose your channels. Okay so now When you're creating a marketing plan what you'll want is you want to choose the marketing channels which are going to be best for that type of business. Now if you've done that what we call the three accelerators, in step one of the planning process then the channels should almost speak for themselves. So for example, I'm targeting, let's say I’m, I’m launching a business and I'm targeting 16 year olds. Okay well naturally there's only two or three channels I should probably be using there. I'm not probably going to go to Linkedin , you know, things like that. Right um so once you've got the activators dialed in, the channel should start presenting itself. But there's another Tip I'm going to give you as well, and that is you want to kind of use something that we call R & D. R and D.

08:07

Okay, what does R and D stand for? Just have a think about that. Now most of you will probably think research and development, but we don't call it that in our world. We call it rob and duplicate, and tip number two is kind of really learn from what works. You don't have to reinvent the wheel every single time. Okay so imagine if you were able to, there was a successful Business, like similar in the similar market or you know similar type of business but in like a different country, like the US or something like that that had hundreds of millions of customers. Wouldn't it be useful to know how they got their their customers, right? And you might be able to learn from that, I wouldn't say you should copy it exactly, but I'm saying that you could probably Learn a few lessons about what works. You might find that if you find that say google ads works really well for that business, maybe you should try it too? Maybe like they're spending heavily on instagram ads, maybe you should try it too? Maybe they're doing really big on pinterest, maybe you should try it too? Okay so this is how you can kind of fast track some ideas that are kind of like pretty High likelihood of succeeding. Okay so it allows you to start brainstorming your channels quite quickly. Okay so tip number two is you really wanna have you want to be able to map out what channels you're going to use to execute on the plan and the best way I like to do that is using my three activators as well as using leveraging something called R and D, okay.

09:41

Tip number three then is to create a timeline. So creating a timeline for your marketing plan is essential uh because every single week you want to not have to reinvent the wheel. So What are we going to do this week like that takes up so much mental load? Now what you want to do is you want to work hard once and you want to plan out your quarter or Your you know month or whatever kind of planning cycle you use. I personally like 90 day cycles I like to plan my year and then 90 day, 90 day cycles and you want to do up like a few hours of planning once say a quarter or a month and then map out your activity plan and then every week you just turn up and you just execute on it. All right no shiny objects you know you've got a plan it's a little bit like on in race horsing. Do you notice that they have blinkers the racehorses have blinkers on. because what you want to do is spend a bit of time planning stuff and then trust that that is the best plan with the information that you have at the time and then just go into execution mode and a timeline is perfect for that.

10:53

I like to use uh some kind of spreadsheet. I think spreadsheets are better for this and every single week I will have all my activities and actually for kind of especially when you're moving a lot I like to do it almost on I like to have my plan on a daily basis so every single row in the spreadsheet will be its own day now i have a template for My marketing plan I have used for years. I've given it to my best entrepreneurs and it's the exact same template for a marketing plan I used when I was launching that business for that client and we did over a million dollars of sales in two months. I'm gonna give it to you guys because I love you, okay so there's gonna be a link to it in the show notes, you're gonna be able to download that Uh template for free and um yeah just just have a look at it in the notes below.

11:45

All right so guys tip number three is to create a timeline, so you know exactly what you need to do every single week and it's like train tracks. Right, the train is on the track and it's only going in one direction and then once you do that really guys all you need to do is show up. If you've got the right plan in place, And you've planned it out well, you just need to show up and do the work every single day and then the results are take care of themselves. Okay so guys in this video we talked about how to create a great marketing plan, I talked about how important it is and how how so many people get it wrong, and I talked about the big success that you can get if you do it right. and I gave you the example of my buddy who we launched and we hit a Million dollars of sales in about eight weeks and the business got acquired using a great plan.

12:33

The three tips for that is one use the three activators, two make sure that you get the right channels in place, leveraging things like R&D to do that, and then tip number three is to get a timeline over time. Okay hopefully this is useful, my name's Howard Kingston, don't forget To get that free resource at the bottom of this uh in the show notes because it's going to be really useful. It's the exact thing I've used for years and I continue to use give that away to you guys for free. If you find this is useful please make sure you do subscribe it means a lot to me and it also means more people hear about this session. I can help and impact more people, Okay so thanks so much guys see you in the next episode of the Growth Velocity Show.