Marketing Strategies and Tactics

Here is an exercise in developing a meaningful, effective Marketing Plan to assist you in growing your firm. Step One: Identifying Marketing Strategies.

What is a marketing strategy? It is a plan or broad approach to growing a company based upon your company's business goals. Every effective Marketing Plan is composed of goals, strategies, and tactics. Each marketing strategy can utilize several marketing tactics to achieve the firm's business goals.

For example, if you want to grow your firm's revenue and gain more referrals, you would approach writing your Marketing Plan like this:

Goal                                                    Increase Gross Revenue 25%
Business Strategy	Marketing Tactics/Activities
Obtain referrals from clients
	Implement a formal referral program with a step by step procedure
	Send a "Thank You for Your Referrals" letter to all clients to kick off your new effort to ask for referrals
	Survey clients – find out how you're doing and services they want you to offer
	Implement a Client Service Model to create raving fans

Here are Marketing Strategy Examples:

• Obtain referrals from clients
• Communicate frequently by emailing clients a branded Weekly Market Update Newsletter (Service)
• Gain more revenue from existing clients
• Obtain referrals from Centers of Influence (COI)
• Obtain exposure to large numbers of prospects via direct mail or phone
• Obtain exposure to prospects in person
• Develop Credibility Marketing tactics to enhance your reputation
• Create a Branded Practice to attract Ideal Clients
• Implement Infatuation Marketing to existing clients to gain future referrals
• Utilize the internet to grow the firm and attract Ideal Clients
• Create a public awareness campaign to attract the Media
• Update your image by using Social Media
• Target a specific niche
• Target wealthy and HNW prospects
• Introduce a new product or service to gain market share
• Sell information products to the affluent masses who will never be clients

When applied to Business Plan brainstorming, each of these Marketing Strategy Examples can utilize multiple Marketing Tactics in order to implement the strategy and achieve the firm's goals. It's always a challenge to identify which tactics make the most sense with the least amount of effort. What I want for my clients is to spend less time on marketing and more time working with Ideal Clients.

Step Two: Once we identify the Marketing Strategies that you would like to address, we will then review the numerous Marketing Tactics that go along with these strategies. We will select from a 14 page list of detailed marketing tactics (not available to the public – clients only).  When selecting Marketing Tactics, care should be taken to create a mix of ACTIVE and PASSIVE tactics. Active tactics are those where you are meeting with prospects and clients, talking to prospects and clients, and engaging face to face with a real person. Passive tactics on the other hand are just that – you put out the marketing information and it's up to the prospect to find it and contact you.

Step Three: Create a Marketing Calendar and an Implementation Plan.

About the Author

Suzanne Muusers has been coaching financial advisors to get out of their comfort zones since 2004. She helps independent financial advisors grow assets under management, get organized and productive, and increase their profit and time off.  Suzanne has an extensive library of tools and tips to help advisors save time on the road to success. Visit her at http://www.prosperitycoaching.biz. 

I love Marketing! Suzanne Muusers ICF-Member Business Coach Prosperity Coaching LLC

Copyright© 2004 - 2012 | Suzanne Muusers | All Rights Reserved| No reprint rights are included with this article

Contact Us