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. Whether you are a financial advisor, planner, small business owner, a CEO leading in a large complex organization, or part of the executive team, your plan can be created in one weekend (or the equivalent) in a quick and stress-free way.
Executives, managers and staff members can have The One Page Business Plan, just a click away.
Results for every objective are tracked using online Performance Scorecards that are viewable by supervisors.
One of the most neglected aspects of a business plan is the failure to execute the plan daily and monitor the plan weekly.


Over the years, I've helped many financial advisors, small business owners, executives, and nonprofits create their plans. Often, when I create a plan for the CEO, and they start using it, they like the system so much, they ask me to conduct group planning sessions so that each of their staff has a focused plan to execute, too. Join other financial professionals who get exclusive content, special invitations, and keep on top of current practice management and marketing trends. 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.
As long as you (and your staff) has online access you can update your progress report and action plans weekly! The system uniquely links plans and performance reporting in a very simple, yet highly effective manner.
Don't think in terms of what other organizations or individuals have done, but how you are going to get it done. But first create your marketing strategy items that will generate leads, build awareness and enhance credibility. 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?
The scorecard shows actuals, budget, forecast and last year actual, both graphically and quantitatively.



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