mg id=”BLOGGER_PHOTO_ID_5262726619820938578″ src=”http://4.bp.blogspot.com/_5teyRpJfosk/SQj1-kRrVVI/AAAAAAAABh0/E0aEaomhxVo/s320/sales2.jpg” border=”0″ alt=”" />There have been times when my marketing colleagues sit in a room and discuss current customers who have subscribed to a service - wondering how to get them to renew. Unfortunately, this is the wrong conversation to have.

The best time to renew a client is from the first day after a sale. You need to provide evidence of value to your existing customers from day one… not just day’s before their service expires. Do you have products or services that must be renewed on a regular basis?

Think about engagement. Do you engage your customer in a dialog throughout the year? There are a number of tactics for doing so that will help you engage your customer, develop a relationships and prove value.

1. Newsletters or announcements. Each month, give yourself and your company a reason to reach out to your customers with information that’s valuable to them. Don’t underestimate the power of frequent communication. Be flexible with your content and include opportunities to solicit feedback from your customers.

2. Customer surveys. Ask your customers through an online survey what matters most to them. Show them that their opinion matters. But don’t stop there. Once you ask them to complete a survey, college the responses and analyze them. Once you have something meaningful to share, distribute your findings. Customers will see the value your provide and develop more trust in you and your services.

3. Share best practices. Whether it’s a white paper, brief, or forum, share information you’ve learned from you customers and distribute to a larger group. Share these findings in various formats. This shows that you value your customers’ time and want to make them successful.

These are just a few of the tactics for communicating the value of your products and services to your customers. When it comes time to renew, you won’t have to sell. Your customers will inherently know and feel that value you’ve provided over the past year.

Remember, the time to renew is now. Don’t wait until days before the subscription is about to end to make your first contact. As they say, get out in front of the curve. Over time, this strategy will help you exceed your sales goals and allow you to develop a large following.

If you’re beginning to develop your own marketing plan, you’ll need some guidelines to ensure thtat you’re successful. Working within a framework helps you plan accordingly and consider all aspects of a plan.

Your plan does not have to be elaborate, nor does it have to be set in stone forever. However, it should specifically define key information including your target market and value proposition, as well as tactical ideas and action steps you will take in order to acquire customers and/or increase sales.

Here are 7 basic components to include in a Marketing Plan:

1. Product/Service Definition
Describe your product or service in simple and easy-to-understand terms. Consider this message to be a written version of your 30 to 60-second “elevator speech” that clearly describes your company’s mission. Include your point of difference and communicate the intrinsic benefit/value your customer will receive

2. Target Audience
In conjunction with your company’s product/service definition, take the time to clearly describe your target audience. Be specific as to the demographics and psychographics of your ideal buyer. Focus your company’s resources and marketing tactics on these groups.

3. Goals & Objectives
Set the bar as to what you want to achieve. Establish both short term and long term objectives for your company. Make your goals meaningful, specific, and measurable. Concrete goals such as revenue and new customers will help you keep an eye on the ball at all times.

4. Identify the Competition
Is your competition a series of small local vendors, or is it a group of large national companies with ample resources? Or, is your product/service so unique that the resistance is really a lack of awareness? Either way, learn about and understand the competitive landscape. It will enable you to better position and target your message.

5. Pricing
A guidepost for setting price involves estimating the monetary value your customer will receive, and understanding your financial goals and objectives. Also remember to price your product/service at a rate higher than your fixed and variable cost (don’t forget — you are in this to make a profit).

6. Establish a Marketing Budget
Marketing expenses can add up quickly, so set aside a specific dollar amount per month or per quarter. Evaluate your marketing decisions such as advertising in the yellow pages or hiring sales representatives based on the amount of business that a particular initiative generates. Track each initiative and keep what works.

7. Set Timing for Each Step
Listing action steps is not enough — you must establish a timetable for each step. Be realistic so that you do not set unreasonable expectations, thereby creating frustration for yourself. At the same time, be careful not to set goals so far out in the future that there is no sense of urgency for you to take action.

Creating and sticking to a marketing plan is the best way to keep you and your business focused, and on track for success. Writing the plan is the easy part, sticking to it tends to be more difficult for most people.

It is highly recommended that you enlist the help of a trusted associate or coach to provide open and honest perspective/feedback as you work through the elements of your plan. More importantly, if you are serious about success, direct your coach to “hold your feet to the fire” and make you accountable for your actions. You will be glad you did.

Post provided by Engelman Management Group. a marketing and management consulting firm geared toward helping small to mid-size businesses plan, design and execute their growth goals.
For a FREE consultation contact Rob Engelman, President, Engelman Management Group, at either 847-945-7573 or via e-mail at rob@engelmanmanagement.com.