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Business Planning for EventsIt was only until recently where I was exposed to writing a business plan for an event. Become a Private Member and Empower Your BrandJoin thousands of subscribers getting exclusive content,private case studies, updated industry insights and valuable business growth strategies.No Spam ever, just great content! Christina Boyle on KODAK HIRES LAW FIRM FOR RESTRUCTURING ADVICE, IS THE END NEAR FOR THIS 131-YEAR OLD COMPANY, OR IS BANKRUPTCY NEXT? If you are the founder of a new startup or an existing business it's highly recommended that you develop a roadmap that will get you from where you are today to where you want to be tomorrow, six months from now, or a year or longer down the road. A marketing plan should be a formal written document, not recalled from memory or something scribbled on a napkin. Segmentation, Targeting and Positioning - This three stage process involves analysing which distinct customer groups exist and which segment the product best suits before implementing the communications strategy tailored for the chosen target group.
SOSTAC® - This acronym stands for Situation, Objectives, Strategy, Tactics, Actions and Control and is a very popular classic marketing planning framework for creating marketing plans.
Ansoff's Growth Strategy Matrix - Ansoff’s Growth Strategy Matrix identifies alternative growth strategies by looking at present and potential products in current and future markets. For my money, the SOSTAC® marketing planning model is the model I use the most when developing marketing plans. SOSTAC® is a marketing planning model, originally developed in the 1990s to help with marketing planning by PR Smith, who together with Dave Chaffey co-authored Emarketing Excellence. You can see it gives a logical order for tackling your plan (with iterations) and a great way to summarise the main elements of each. SOSTAC® has become very popular since it’s simple, easy to remember and covers all the main issues which you need in a marketing plan or business plan. Here are some tips on how to use SOSTAC® based on Chaffey's experience applying the model in companies and in academia. Use SOSTAC® to review your process - Before looking at how you apply SOSTAC® at each step to create a marketing plan, use it to review your planning process and how you manage your marketing. Integrate the different elements of your SWOT Analysis -  Oftentimes in a plan or report there isn’t good flow relating sections. Where Are You Today - You must know where you are today in order to develop a roadmap to where you want to be in the future. Know Your Strengths and Weaknesses - Take an inventory of your individual and management teams strengths and weaknesses. Organizations - Describe them by number of employees, sales, geographic location, and industry.


SWOT Analysis - Identify your competitive strengths and weaknesses, business opportunities and potential threats. Management Team - List the key members of your present management team and very brief description of their business and industry experience and education.
Milestones Accomplished - Elaborate on significant milestones that have accomplished to date. Your marketing strategies answer the big question:  HOW do you get from where you are today to where you want to be tomorrow?
Core Marketing Message - Your core marketing message is a short description of your business, products and services, employees, core values, business philosophy, mission and value proposition you bring to the customer relationship. Define Your Brand - Your brand isn’t just your corporate identity like your logo, tag line, motto or its visual associations such as unique design, colors or packaging, but the relationship you have with your customers. Pricing Model - Describe the methodology you will use to set prices for your products and services. Distribution Strategy - Describe the distribution channels you will utilize to get your product or service to your target market (e.g. Advertising and Promotions Strategy - Determine what media channels you will use to market and promote your products and services to your target market (e.g.
Public Relations Strategy - Describe the methods you will utilize to inform, communicate and educate your public (e.g. Strategic Alliances - Describe the nature and type of third-party alliances you anticipated will be needed in order to compete effectively in the marketplace. Word-of-Mouth -  Describe how and the methods you will utilize to create word-of-mouth.
I just finished an IT strategy project with one of my clients, an engineering firm with around 500 employees. Today IT decisions are not just about technology or cost; they must be made from the business-value point of view.
In order to form a clearer picture of what must be done and what can be done, my client wanted to lay out a strategy for IT decision making and development initiatives.
My client organized a project team with representatives from key business areas, R & D, and IT management. To get ideas on where the industry is going in terms of the use of IT we conducted a web survey. Subscribe to the AEC Business Innovation NewsletterJoin our mailing list to receive a monthly newsletter for AEC innovators and game-changers and download Aarni's free ebook!


SOSTAC is more comprehensive and borrows elements of several of the other popular marketing planning models.
The four growth strategies include: market penetration, market development, product development and diversification.
Include major new customers, revenues, no of unique visitors, downloads, new patents, major personnel additions and awards.
Will you be using inside sales personnel, inbound or outbound sales personnel, outside sales personnel, manufacturer's representatives, independent salespeople or network marketing personnel. They see IT as an everyday necessity or a cost—not something that needs strategic attention.
They knew that they would soon have to make several important and far-reaching IT decisions. Technology enables many new opportunities in the traditionally slow-moving industry for those who venture to take the lead. I’ll present the questions that we deemed most critical during the process in my next blog post.
Don't think in terms of what other organizations or individuals have done, but how you are going to get it done. However, the technologies that the companies use and the way they use them affect productivity, employee satisfaction, client and partner collaboration, and profitability. Their strategy is to treat their clients as long-term partners and to offer superior service experiences through innovative use of information systems. In addition to the workshops, we had preparatory meetings with smaller teams to make the workshops as efficient as possible. I was able to highlight the areas of focus and concerns simply by viewing the plan after creation. Perhaps you’re not so good at setting SMART objectives, or developing strategies to support them or the control stage of assessing how effective your strategies and tactics are and adjusting them?



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