Important Announcement #8
DATE: March 24, 1995
TO: Industry Colleagues And Friends
FROM: John Stiernberg
SUBJECT: Marketing Plans, Trends, And Latest News!
More Big News: This is to share some ideas and update you on activities since Important Announcement #7 was sent in November 1994.
Marketing Plans: Do You Have One? Do You Really Need One?
There are two schools of thought relative to marketing plans (and business plans in general for that matter). Do either of these scenarios sound familiar?
1. "We haven't had a plan yet and we're still successful. Besides, as soon as anything is written down, it's already obsolete."
2. "We need a detailed plan in order to operate. We manage by the numbers--if it's not in the plan, we don't do it."
These may represent the two opposite positions. Still, even the middle ground is a kind of plan unto itself ("we plan not to plan..."). Consider the following business truisms:
- What gets measured gets done (most of the time).
- The majority of businesses that fail (or is it succeed?) do not have a written business plan or well articulated marketing plan.
- The four "P's" (or is it five?) of any marketing plan don't all begin with "P".
Detect some irony here? There are no guarantees or absolutes in any business. Our industry is changing rapidly. In addition, comprehensive business plans include not only marketing plans, but a lot more (mission statement, product strategy, operational budgets, income statements, balance sheets, staffing plans and financial rationale information).
Marketing plans are simply management tools--albeit powerful ones. The companies that have a plan are exceptional. Only a small minority of businesses really have a well-articulated plan. Bottom line: a marketing plan that is clear, flexible, and written down is a competitive advantage. With competition in our industry heating up, your business needs a plan now more than ever.
Faxback Survey #8: How Do You Establish a Marketing Plan?
The trend is on two levels. First is the increased emphasis on business planning and marketing in our industry. Second is increased variabilization of marketing programs and related expenses. This helps deal with the rate of market change and the vagaries of industry convergence. Do you have a business plan? Does it have a marketing component? Who does the planning work? Do all departments participate and "take ownership" of the plan?
Your feedback on this topic is valuable. Please respond via Faxback Survey #8 enclosed. Simply make a few notes and fax or mail as indicated. Results of the survey will be announced in Important Announcement #9.
Survey #7 Results: We Have Another Winner!
Thanks to those of you who responded to Faxback Survey #7. Sixty three per cent of those responding plan to use independent contractors, consultants, and temporary help in 1995. Forty per cent said that this is up from 1994, only two per cent down, and thirty seven per cent about the same. The top three departments to use outside help are operations/data processing, marketing, and production.
The winner of the "Special Holiday Multimedia Gift" (Rebel Yell Chocolate Truffles and Tower Records/Video gift certificate) is Scott Berdell. Scott is president and founder of QMI. Congratulations Scott!
See You At Upcoming Trade Events
We will be attending upcoming industry events and would like to know if you are planning to attend:
* NAB Las Vegas April 10-13, 1995
* NSCA Indianapolis April 30-May 2, 1995
* Habitech 95 Atlanta May 17-20, 1995
* Infocomm Dallas June 15-17, 1995
* HAA Conference Chicago June 29-30, 1995
* NAMM Nashville July 14-16, 1995
Please let us know if you or someone from your company will be attending each of these key events. Simply check the appropriate box on the enclosed Faxback Survey #8.
Special Prize Drawing
The prize drawing is a regular feature of the Important Announcement Series. Here's how to enter:
Returning the survey enters you in the special prize drawing. The prize this issue is a $50 American Express Gift Cheque. Use it like cash to take yourself to lunch or to purchase whatever you'd like (hint: Mother's Day is May 14.)
On Monday, April 17, 1995, the winning survey will be drawn at random from the ones received by either fax or mail. Sound like fun? Please respond!
Do You Enjoy Receiving This Newsletter?
This issue (Important Announcement #8) marks the second anniversary of Stiernberg Consulting. The time has flown by! Our contact list (including you) has grown 164% since the spring of 1993. We enjoy staying in touch via the newsletter and faxback survey series. Please let us know how you like it. Check the box on Faxback Survey #8 if you would like to continuing receiving this newsletter three times per year.
Let's Talk Soon!
Let us know what's going on in your business--what issues are important and how we might be able to help through networking and consulting services. Looking forward to hearing from you soon!