As a small business owner, you are likely wearing many hats from Chief Financial Officer to Chief Operating Officer. It isn't that you don't think marketing is important, but quite frankly you have a lot on your plate and marketing isn't one of your strengths. Two tendencies I observe in consulting for small business is to either avoid marketing or to jump right to "tactics". A marketing plan is crucial for small businesses because it remedies both these pitfalls.

If you find yourself in the "avoidance" category, the process of developing a marketing plan, by definition means proactively dedicating time & resources to marketing. Don't let your lack of marketing expertise prevent you from developing a marketing plan, you can always get outside help. There are marketing classes geared toward business executives, books and CDs on writing a marketing plan, or consider a marketing consultant to guide you throughout the Marketing planning process. The Marketing planning process will not only result in increased business, but will also enable you to "learn as you go", increasing your marketing skills and confidence.

If you find yourself in the "tactically over-whelmed" category, a marketing plan can act as a strategic filter to help evaluate and prioritize which tactics will best reach your objective. A plan will save time and money in the long run by proactively evaluating tactics and measuring results over time, rather than reactively considering each "good idea" that comes across your desk. Advertising is not always the answer. For example, if you have decided building credibility and reputation is an important objective for your business, publicity could be more effective (and cost effective) than advertising in helping you achieve that goal.

Whether you seek outside help, or tackle the marketing planning process internally, your marketing plan should clearly state your business objectives, marketing strategies to reach those objectives, and the marketing tactics that execute your strategies. It should also include measurement benchmarks to allow you to evaluate progress and make adjustments if necessary. Consider the following key components to any successful Marketing Plan:

1. Business and financial goals
2. Company vision and mission - The heart of why you are in business
3. Positioning platform - What makes you uniquely different than other business, and more valuable to customers
4. Situational Analysis - External opportunities and threats, internal strengths and weaknesses, including:
   • Competitive Analysis
   • Market Analysis
   • Self analysis
5. Marketing Strategies - Enabling you to achieve your business goals
6. Marketing Tactics and communication plan - tactical plan that implements marketing strategies
7. Marketing Timeline and budget
8. Measurement Plan - Measuring effectiveness of marketing plan at key intervals

Marketing will be more effective and efficient if there is a strategic plan that serves as a roadmap to where you are going and how you will get there. The time and resources dedicated to marketing planning will sharpen your focus on core strengths, your customer needs and the best way to fulfill those needs profitably. So although it will take increased time and energy in the short term, a solid marketing plan will free you up in the long term. Your plan will have built in checkpoints to consider progress, make adjustments and evaluate any new tactics. Therefore, you can focus on other areas of your business, feeling confident that you are neither avoiding marketing or obsessing on individual tactics.

Kathleen Peters is President and owner of KMP Marketing Inc., a business consulting firm specializing in strategic marketing solutions. Formerly a Marketing Brand Manager with Disney, Ms. Peters has her MBA from Georgetown University , is a contributing author to New Product Success Stories (Prentice Hall) and has also taught business and marketing at Seminole Community College, as an adjunct professor.

©2005 Kathleen Peters, President KMP Marketing Inc.