Set marketing

objectives. Now that you have a sense of where you stand and who your

customers are, you must elaborate on your branding program by determining

how you want to position your business to get the results you want and

incorporate this information into clear marketing objectives. For example,

do you want to increase sales? Build awareness? Launch a new product or

enter a new market? Your objectives define the basis of your marketing

plan.

If one of your

objectives is to increase sales, be sure to be specific and make the objectives

measurable with a stated time frame for achievement. For example, an objective

might be to increase sales by 10 percent in the next 12 months by introducing

a new product. And remember, while it's important to be optimistic in

creating marketing objectives; you must be realistic as well.

Determine

marketing strategies and tactics. Now that you've outlined your objectives,

it's time to determine the best strategy to achieve them. This is essentially

the heart of your marketing plan. For each objective identified, create

a tactical strategy to help you accomplish it.

For example,

if your goal is to increase sales of a new snack food among teens, a strategy

might be to give out free samples at a local concert or high school sporting

event. The tactics, which show all the actionable steps you must take

to carry out the strategy, become your "to do" list. For this

example, you might need to get permission from the concert promoters or

high school athletic department, estimate how many samples are needed,

arrange for getting them to the site, and so on.

Establish

a budget. In the final section of the plan, document the costs of

everything needed to fund it. If, for example, your strategy for increasing

awareness calls for an exhibit at two trade shows during the coming year,

estimate the costs involved for renting exhibit space, designing a booth,

staffing it, and stocking it with marketing materials.

Once all costs

are documented, take a realistic look at how much money is available for

marketing. From there, beef up or pare down the plan, depending on your

financial situation. Keep in mind that while overextending yourself is

inadvisable, it's critical to allot adequate funds to reach your markets.

Refer to and

update your plan frequently.CPAs say a marketing plan is only as good

as the work put into it and how useful it is. Refer to the plan often

and judge how well you're meeting objectives. And remember to update it

on a regular basis. The tactics that proved successful one year may fall

flat if market conditions alter drastically.

The GSCPA

is the premier professional organization for CPAs in the state of Georgia.

With over 10,500 members throughout the state, the purpose of the GSCPA

is to promote the study of accountancy and applicable laws, provide continuing

professional education, maintain high ethical and work standards, and

provide information about accounting issues to the membership and the

public. For more information, access our web site at www.gscpa.org.

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