Many entrepreneurs have trouble curating a strong marketing plan because of how intimidating all the factors may be. What does a marketing plan need to include? How can our plan be strategically executed to success? What role do the objectives and tactics play?
Marketing is often confused with an advertising/promotion strategy – but with marketing, you’re focusing on collecting techniques to direct necessary resources towards the best opportunities for business growth. Driverseat’s franchise system has generated large-scale marketing strategies for all partners to formulate policies in order to establish strong performance across all channels. This includes research of target audience, analysis of product/service offerings, marketing objectives, communication strategies, and more!
With marketing strategies already set in place before you even begin, entrepreneurs receive the opportunity to primarily focus on what being your own boss is all about – creating the vital tactics to reach your goals and build up your revenue!
At Driverseat, the recipe to success for any task, projects, campaigns in regards to marketing all comes down to strategy. Strategy is the statement of how the objectives are achieved, and in order to identify successful tactics to implement into the overall strategy, the statement must be clear and concise. Driverseat supports its franchise partners with implementing marketing objectives to achieve a set foundation, ensuring growth and success. Key: With every objective, there must be at least ONE strategy – but one strategy may support MORE than one objective.
Here are 10 components of a successful marketing plan:
1. Identify services to promote/sell according to business goals
Before even starting your franchise, Driverseat has established business processes that are aligned with the services offered to accommodate for the achievement of your goals. Driverseat offers multiple transportation services in which entrepreneurs have the choice to choose which services they want to pursue for their own branch: Your Car, Our Car, Corporate Shuttle.
2. Establish category, product, and brand marketing objectives
Driverseat updates Franchise partners on a weekly basis to discuss industry news, marketing strategies, and other forms of business coaching. The Driverseat marketing team has established long-scale marketing strategies but it is also important that you do your research to form tactics; carrying strong expertise in the industry you are involved in is crucial as you want to obtain a competitive advantage and dominate your industry, thus determining your marketing objectives.
3. Propose strategies/tactics; provide context and details for each of the four Ps
Usually, the first thing you learn about marketing is the marketing mix, and it consists of the 4 Ps: Product, Place, Pricing, and Promotion. During the weekly meetings with Driverseat, all partners are able to pitch ideas, strategies, and tactics that are applicable to this mix, and formulate a plan to execute measurable goals. With the support of the Driverseat head office marketing team, you are able to primarily focus on localized marketing and business development!
4. Establish priorities. Must dos vs nice-to-dos
In the business world, there are limitless opportunities causing many entrepreneurs to bite off more than they can chew. It’s important to understand and distinguish between high-priority and low-priority tasks. This will result in your team staying organized, prevent losing momentum, and provide a clear direction of what needs to be done, thus generating more work productivity efficiently.
5. Identify financial implications of strategies and tactics
The role of finance is critical to any business. Driverseat ensures successful coaching and for a business to become successful, the franchise support team will help guide partners with spending/investing purposes; the franchise support team can advise that you use funds to effectively operate and that you are spending/investing cautiously. Financial management in marketing enables the 4Ps to be managed so think about the costs and budgeting of every action you take.
6. Find resources allocation including capital expenditures, operating cost, human resources
Lack of effective resource allocation has caused many great potential businesses to fail, simply because they are not prepared for serious challenges. Fortunately, the Driverseat team is prepared to assist in personalizing your marketing initiatives with project management which aids with forecasting purposes, fulfilling project needs, performing vision effectively, and eliminating risks – all with respect to resource allocation.
7. Identify the time frame for achievement
Give yourself and the team project deadlines so that you can manage time effectively while getting ahead. Time frames may help you be more productive and efficient especially since it may determine other projects following after.
8. Establish success criteria and metrics
The purpose of a marketing plan is to achieve your goals – having success criteria or metrics gives your team a sense of awareness of what and when they need to accomplish. Don’t fool yourself into writing unrealistic short-term goals as part of your success criteria as this could actually prevent motivation and cause inefficiency. Prioritize making your goals realistic and relevant to successfully determine, organize, structure, and execute them.
9. Ensure alignment between marketing and other areas of the business
Poor or a lack of communication can result in the collapse of any business. Many companies fail because of their poor strategic alignment between all areas of business and it truly is the bridge between strategy and execution. Driverseat encourages high-level communication with all partners regarding changes because they may potentially impact other elements of the organization; Driverseat engages with team members from all areas of departments about responsibilities, priorities, and changes.
10. Guide marketing communication strategy, brand position, and alignment with the overall value proposition
As an entrepreneur, one of your first questions may be: “How can I attract customers to engage with my business to increase revenue?” Driverseat has crafted a compelling marketing communication strategy that not only aligns with the brand but carries the power of persuasion to entice interactions. The team has conducted a marketing plan with fundamental strategies with the objective of lead generation, which will always reflect back on the overall value proposition.
Watch the videos below to hear from our Director of Marketing, Dani Bazely, speak more on things to consider when creating an effective marketing plan!