We're all familiar with what a business plan looks like. What makes a marketing plan good is the emphasis on the 5 P's along with the competitive analysis and positioning. The development of the marketing plan is critically important as you align resources correctly.
A tool that I've found is critical as a benchmark or tracking mechanism that shows how you're doing against the goals of your marketing plan is called the "marketing dashboard". The marketing dashboard is a set of four key indicators that shows the effectiveness of your marketing efforts. So many owners and executives believe that marketing solely has to do with making the phone ring. This couldn't be further from the truth.
The four key indicators are--
-number of leads in a particular time period
-number and percentage of leads converted to sales
-number of sales to customers
-average transaction amount
As we learn to think of marketing in this way, it refocuses efforts onto all the areas of revenue enhancement rather than just the one.
Do you use a similar tool?