It’s a wonder those without a plan actually know what, where they’re going, or know when they’ve arrived. If you don’t specify what your goals are, then how do you expect to achieve them. How would you know that you’ve reached your objectives.
The first step is a clear definition, a precise written goal. This is how you measure your progress and success. Whether it’s the number of clients you need, or the revenue that you want to generate per month or year, or any other metric, it’s up to you.
The point is establishing a measurable goal. Then create a feasible plan around it to achieve what you want. This is your marketing plan and it ensures that your time, energy, and money are focused directly on reaching whatever it is that you want.
Going Beyond A Goal And A Plan
Just having a goal and a plan, however, is just the start. You need to then track and document your progress so you’re able to determine if it requires more effort, capital, or if it needs to be directed differently.
Make it a practice to constantly review your marketing plan and how well it’s progressing, this at the end of every week and month. Do so the day that you take care of your end-of-month administrative tasks, such as when paying bills, employees, when reviewing your financial reports.
If you break your goals down once a month, you can then tell if you’re on track. If you’re not, then you can easily make adjustments, such as increasing your level of advertising or your marketing efforts, this to get back on track.
By keeping close tabs, you greatly increase your odds of achieving your goals. Partly because you’re giving yourself time to make adjustments, while altering your route if necessary. You’re also reminding and refreshing yourself of your intentions.
An effective method of staying on course is by tracking each of your individual marketing activities. This is how you’ll know if each effort is moving you towards your goals.
Tracking Your Website Stats
If you’re generating your leads, prospects, or clients through your website, then know exactly how many visitors you need to generate the number of clients that you’re targeting. The exact cost of customer acquisition.
There are now a number of accurate website tracking methods. Your web host should be able to provide tracking reports to let you know how many visitors you’re getting to your site, and ideally, you want to track this for each page of your site.
Know What Your Conversion Rates Are
You can then know what your exact conversion rates are, your return on investment (ROI), this on your subscribers to clients. This to also measure your sales conversion rates if you’re selling products or services on your site.
Once you know your conversion rates, then you’ll be able to calculate how many site visitors you need to get your sales to profitability, or the exact number of clients you need to break even.
You should have the precise data to track this efficiently, and know exactly if you’re on track to reach your goals, or if you need to generate more website traffic to do so.
Math Upfront Will Guarantee Your Success
While at first it may be disheartening, this especially if you’re not reaching your mark, at least you’ll have a precise picture of what it takes to reach your targets.
Then it’s simply just a matter of finding different ways to generating the additional traffic or visitors. It then becomes just a matter of time until you reach your goals, as what it all comes down to is traffic and conversions.
The Basics Of A Business Plan
Business plans can vary in complexity, this depending on your situation. You might just choose to follow a basic plan, but regardless, the process is one of the most important steps you’ll take.
Begin by listing all of your business credentials. Why you’re qualified to start this business or concern, or sell your products and services.
• List Your Staff – Is it just yourself for now, do you have expansion plans when you’re going to hire or outsource technical, sales, or administrative staff.
• Sales And Marketing Plan – Outline your primary marketing objectives, the activities planned to bring in your key clients. Always review what you’re doing on a weekly and monthly basis. Calculate how much time and money that it’s going to take and cost to execute your plan.
• Basic Operations – Where will you be located. A rented space or a home office. How do you plan to get to your clients place of business. Will you need to rent facilities on occasion for meetings, seminars, etc.
• Know Your Finances – How much capital do you need to begin your venture. Is the capital already in place or where will you get it. Where can you get additional capital if you need it.
• Expertise Of Principals – What makes you or your partners qualified to do what you’re doing. What kind of skills along with expertise and experience do you bring to the table. What unique selling point or proposition do you have in your business plan and venture, this to be able to pursue the clients that you want.
The Business Plan Outline
Business plan outlines can be generalized or be as detailed as you want. The most important idea being that the business plan covers all of the basics.
Make sure that it covers all the questions and provides the answers. Then have a precise plan of attack along with the costs that’s associated with the execution and the operation of the business plan.