Marketing Contractor - Developing a Strategy and Marketing Plan Using a Consultant

Developing a market strategy and plan is simple in concept; however it requires strategic

expertise in knowing how to apply data correctly and draw the appropriate conclusions. Using a consultant, independent contractor, or contract employee gives you the ability to get exactly the expertise you need to best address the issues you have. Additional benefits of this approach are lower risk, no on-going commitment, and the flexibility to respond to transient market dynamics quickly and cost-effectively.

Start by gathering intelligence on the market. This includes macro environment observation, obtaining consumer insights, and a business landscape assessment.

The macro environment observation will include social, demographic, and economic elements. Look for pop culture trends and what the media is focused on. Consumer insights equates to market research. You can either purchase existing studies, or work with a research company to design a study specific to your needs. For the business landscape assessment, look at activities in your industry, what your competitors are doing, and where entrepreneurial ventures are focused.

The next step is to evaluate all the info you have gathered to discern trends and identify unmet needs for which you might create a profitable solution to address. Consider organizational and brand competencies (both what you are actually good at, and what you are perceived to be good at), potential market size, and possible competitive dynamics.

Use creative problem solving exercises and ideation techniques to design solutions for needs and ways to leverage emerging trends with your existing products and services. Go beyond marketing management; involve people with diverse backgrounds and perspectives to ensure high quality output and to maximize the potential for unique approaches to be identified.

The output should be a few well defined concepts, not hundreds of ideas. Work with finance and analytical resources to assess the market potential and model the business opportunity. The business model will identify key assumptions that can/should be tested with the target audience to ensure the viability of the concept (product, service, or customer experience).

With vetted concepts and a target audience, you are prepared to develop the advertising, marketing, and promotion plan to introduce the new concept. It also gives you the inputs needed to work with operational and support areas of the business to decide on how to prototype or test the concept live in the market. With these two elements you have the basis of a robust strategy to deliver marketing solutions to the target audience through an integrated marketing approach.

Glennon Franklin is a Partner at G

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Marketing Contractor - Developing a Strategy and Marketing Plan Using a Consultant

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