In this issue: Laying the Foundation: The First Step to Successful Marketing Insight #1: Start with a Plan Insight #2: Research Your Industry, Market, and Competition Laying the Foundation: The First Step to Successful Marketing "By failing to prepare, you are preparing to fail." - Benjamin Franklin As you think about your plans to market your company, you probably have some pretty clear notions about what you hope to accomplish: namely, increase the number of customers to increase revenue. But you want to be cost effective. And you must be able to show a return on your investment! To accomplish these objectives, you need to do some preliminary groundwork. In this issue of Insightful Marketing, we'll take a look at some of that important steps that can help ensure that your marketing dollars are well spent. Quick Links: Other newsletters About our principals Additional Services Frequently Asked Questions Copyright 2003 Insight Consulting, LLC

Greetings! Welcome to Insightful Marketing! What marketing should I be doing to grow my business? How can I spend my marketing dollars most effectively? Tough questions, but to achieve your business goals, you need to be able to answer them. This month, Insightful Marketing takes a look at the first of several insights that will help you make the most of your marketing dollars. We value your suggestions! Please let us know of any topics that you would like to see in future newsletters. Here's to your success! Jean Woods and Peggy Morrow info@insightactionimpact.com Insight #1: Start with a Plan    If you're like most entrepreneurs, you favor action! It's what helped you get where you are today. But when you think about investing in marketing, you owe it to yourself to get the most value for your marketing dollar by doing some advance planning before you jump right into sending out that mailing or creating that new brochure. A marketing plan provides a blueprint for all of your marketing activities. A successful marketing plan represents a fully integrated approach in which each element of the plan builds on every other element. By starting with a plan, you can uncover the most effective techniques to get your business in front of customers. And of course that's the bottom line for any marketing activity: grow your business and achieve a return on your marketing investment dollars. Some tips about what a marketing plan should include: Industry and Market Analysis Industry Technology Geography Customer Competitor Marketing Strategy Marketing Strategy Marketing Objectives Brand Target Markets Company Positioning Product Positioning Market Positioning Promotions Plan Marketing Calendar Advertising Public Relations Internet Marketing Brochures Direct Mail Networking Trade Shows Partnerships and Alliances Product Distribution Sales Channel Strategy Want to learn more? Insight #2: Research Your Industry, Market, and Competition    Is research a dirty word to you? Of course it can be time consuming, when you're pressed with the day to day activities of running your business. But in order to get the most out of any marketing effort, you need to be able to see beyond the walls of your own business. You need to be aware of industry trends, market size and growth rates, and the latest changes in technology. And there is the competition. Who are your competitors now? Are there more of them or fewer than they were a year ago? Why? What does that mean to you? Who are your most successful competitors? What makes them successful? Not sure where to start? Following is a sampling of some good sources of information about industries and markets: SEC Forms and Filings - www.sec.gov/e dgar.shtml -- Use this site to locate the various reports (including 10-K) corporations are required to file with the Securities and Exchange Commission. Census data - www.census.gov - - Provides detailed demographic information about the United States, in some cases down to county or city level. Also includes projections. Industry information - www.about.com /industry and www.business.com -- Business search engines and directories providing access to a wide range of business resources, including company and industry profiles, news, financials, and more. Employment statistics - Bureau of Labor Statistics - www.bls.gov Includes employment statistics by industry, geography, and much more. Individual company profiles -- Hoovers Online www.hoovers.com provides basic information for both public and private companies. Hoovers includes financial information, links to news reports, lists of key executives and competitors, and more. Some information is available to paid members only. You can find many additional reports and other business information at most local public libraries. Don't have time to do it yourself?

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