Market Planning -- Getting the Word Out

"There are those who get things done and those who think about getting things done." --Col. Wesley L. Fox, USMC (Ret)

Marketing cannot be hit or miss; it must be part of your business model. Formal market planning systematically addresses getting profitable new business while maintaining and increasing the profitability of your current business (busy people often overlook opportunities that are right in front of them).

That means, if selling is reaping the harvest, marketing is sowing the seeds.

Some SBOs and independent professionals try getting by with an unfocussed, transactional approach; the savviest among them zero in on well-defined, validated market segments with good numbers and other favorables, not the least of which are clear-cut needs for their products and services. By intensifying their resources and expertise in these areas and adopting market-appropriate strategies, systems and tactics, they achieve dominance in their targeted groups.

In short, they have a marketing vision and follow that vision until it's a reality.

But that's not all.

Developing a marketing plan also inspires SBOS and professionals to focus on the big-picture need for planning and productivity throughout their practices, especially their roles in engineering their own success.

Successful men and women research, strategize, plan, and act (mostly on revenue-generating activities). Then they manage their resources so they can spend as much time and energy as possible on the bottom line: doing what they do best!

About Your Marketing Vision

Marketing "vision" means looking at everything you do from a personal marketing perspective so that everything you do is true to your vision. Think of it as your conceptual framework for offering your products and services-and yourself-to prospective clients over the long term:

? What are your best markets?

? What makes them tick?

? How to position yourself most competitively?

? How to make the most of what you already have?

? How to build your name recognition and reputation, and stand out in the competitive traffic jam?

? How to approach qualified prospects and make them want to see you?

? What should you say; what should you sell?

? How to service your business profitably?

? How can you get clients to refer you to others in their group?

? When will you review your market planning to be sure it's getting you where you need to go?

When you do business this way and are responsive to the language of your marketplace, special things start to happen. Your prospects and clients feel good about doing business with you. You begin selling more effectively and efficiently and, over time you'll achieve deeper market penetration, more profit, more referrals and a larger client base.

But remember: Your vision is only as good as your ability to implement and sustain it. When financial services professionals get ahead of themselves by setting the bar too high, they can find it difficult to meet their clients' raised expectations, as well as their own.

Like a marketing strategy, your vision should be progressive but realistic.

In following a vision, a bit of reality always helps.

The way you do business, market planning included, has to adapt to changing market forces, emerging technologies, new information. The quicker you change when change is called for--or as opportunities arise--the more likely you'll thrive in a volatile, competitive marketplace.

There may be no better way to demonstrate that kind of resiliency and business savvy than by embracing technology, especially the Internet and specifically a personal website, which can become your "marketing HUB" and swiftly shift your productivity into high gear.

Try This: Create a Web presence. For established SBOs and independent professionals, that means developing your own website, and promote your email and Web addresses on all marketing and communications materials.

It Can and Does Pay Off!

For example, according to the American Interactive Consumer Survey from Dieringer Research, 63% of people who researched personal finance products and services online actually applied for such products offline. However, the remaining 37% applied for these products online, says Dieringer. Specifically, as reported by eMarketer, The E Business Research Source, the Consumer Survey determined that 9.9 million applied online for credit cards, 5 million applied online for mortgages, 4.2 million applied online for loans and 4 million applied online for insurance products.

It is important to note that the people who applied online could have applied for more than one product.

Want More? Send questions and comments to w.willard3@knology.net

Bill Willard has been writing high-impact marketing and sales training for the financial services industry for over 30 years. Through interactive, Web-based "Do-While-Learning?" programs, e-Newsletters and straight-talking articles, Bill helps agents and advisors get the job done: profitably improving performance, skipping expensive mistakes, and making the journey to success faster, smoother, easier. And fun!

---

What The Heck Is An Eponym, And What Does It Mean For Your Brand?

Today I've decided to share with you a new word... Read More

5 Ways To Entice Your Parallel Market to Trade Links

Lots of people get confounded when attempting to exchange links,... Read More

Ten Tips for Creating a Winning Proposal ? Part 1

If you want your business to grow and attract new... Read More

Making a Hit with Your Marketing Campaign

Considered a vital link in a show's promotional plan, direct... Read More

Word of Mouth Marketing

'Word of Mouth' is still one of the most effectivemarketing... Read More

Wooing Women With Packaging

In just one month three California vineyards have introduced new... Read More

Where to Find New Customers Using B2B Direct Mail

The challenge in business-to-business direct mail is knowing where to... Read More

Do Not Consider Running the Same Yellow Page Ad until You Read This

Grant Businesses have a love-hate relationship with the Yellow Page... Read More

Direct Mail Response Rates Mislead if You are Careless

I could tell you that the average temperature in the... Read More

The Art Of Writing Classified Ads

The writing of good classified ads truly is an art... Read More

The Process of Change in Marketing Approaches

In a world economy that is in constant flux and... Read More

Pricing Strategies in Marketing

Price is an often overlooked marketing strategy, as many tend... Read More

Give me a Referral any Day - the Power of Networking

I nearly panicked recently! Well, maybe a slight exaggeration but... Read More

Using Alternative Media to Generate More Customers

Last week I received a very nice thank you gift... Read More

Get Personal: Letters vs. Direct Mail

One of the reasons direct mail works is the personal... Read More

How To Let Your Customers Search For YOU! ? Part 2

First I want to welcome you to part two of... Read More

Dear Friend: Dont Start Your Non-For-Profit Fundraising Letters As A Stranger

Dear Friend:Don't do it.Don't start your fundraising letters with "Dear... Read More

Open Doors by Building Relationships

"You can make more friends in two months by becoming... Read More

Sponsorship: A Key to Powerful Marketing

Sponsorship is the fastest growing form of marketing in the... Read More

Commercial Collections By Telephone

The telephone enables a credit manager to make many contacts... Read More

Increase Repeat Business and Referrals with Direct Mail

So you have been writing mortgages like crazy now for... Read More

How To Get To The Top of The Marketing Food Chain

Are you tired of living off handouts from big-name marketers,... Read More

Five Steps to a Web Site That Sells

I'm always amazed that people would spend months to develop... Read More

The Information Publishers Secret Resource Guide To Blow Customers Away!

Have you ever heard the saying, "Give and you shall... Read More

New Years Planning Critical Success Factors

New Year's is a good time for strategic planning or... Read More

Unique Selling Proposition - Your Competitive Advantage!

To capture a larger market share and be viable, sustainable... Read More

8 Proven Ways to Get Referrals

Do you find it hard to ask for referrals? I... Read More

You Cannot - Not Market

Everything you do - or don't do sends a message... Read More

Are We There Yet?

Small business marketing is not like taking a family vacation.Did... Read More

Marketing, Lead Generation, and Research: A 3-in-1 Solution

I Hate Cold CallsLong before I started my business, I... Read More

The 10 Cornerstone Principles of Marketing

There are four parts to a marketing system and they... Read More

4 Steps to Successful Offline Drawings

There are many different ways to market offline, each important... Read More

Marketing Smarter To Earn More

An accountant once told me that he never met anyone... Read More