Marketing plan for the second year of business
October 29th, 2007
Now that I’m sitting here with a bit of hindsight, I can see that what I thought was a decent marketing plan before launching wasn’t much of a plan at all. Our first year was very reactionary. As opportunities were thrown at us we’d decide if they sounded like a good idea or not - and we’d see where we could stretch the budget to jump on board.
So, now that we’re entering year two of being in business, we sat down and had a marketing plan meeting. We’re changing course in some ways and are going to try a couple of new things. In other ways, we just need to be more committed.
This doesn’t mean that we won’t evaluate new opportunities as they come our way, but we’re committed to not give into the sense of urgency that is put on every single opportunity.
We also made the concrete decisions for the first quarter - we’re skipping on some magazine advertisements in favor of a couple of more direct sales routes. We’re focusing on our in-store displays and marketing materials a little more and we’re picking up sales reps so we can focus on direct boutique sales more than trade shows. We’ll also do small ads on some online sites, which is much less cost than magazine advertisements. We’ll commit more a regular newsletter and direct mailing also.
Now all we have to do is actually implement the plan!!
Entry Filed under: Sales & Marketing, Trade Shows & Market
5 Comments Add your own
1. Lisa NYC | October 29th, 2007 at 8:28 am
hey Amber…that sounds like a great plan…less magazine ads and trade shows while doing more in-store displays and rep seeking.
I’m starting to think many of the children’s tradeshows are overrated and are a waste for many new designers…but perhaps just an necessary evil..KWIM?
And as far as some of these magazine ads…yes, they get you noticed, but at the price of $7K - $8K for Hudson’s, I sometimes wonder if it’s worth it.
Have a great day!
2. Amber - RuffleButts | October 30th, 2007 at 6:20 am
That is really interesting! As someone still in the first year, it is a lot of navigating new territory. I’m glad to hear that your first year was similar…I am just so torn on which paths to pursue. With the expense involved in tradeshows and magazine ads, I just have to believe that there is a better way, but I also know that you must spend money to make money. That is the painful part! But, business is all about return on the investment, so if you can spend less and bring in more sales, all the better! You definitely seem to be heading in the right direction!
We were approached by an LA sales rep at KIDShow and I thought long and hard about the decision. I didn’t feel like we were quite ready to take that path, but unfortunately, as I decided to look into it further, she is no longer returning phone calls. I now have a NY rep that may be interested, but I am still taking it slowly. Do you currently have any reps? As a new business owner, I am just not sure on this one, but it seems that most successful companies grow with the help of a seasoned rep.
I am excited to see your new marketing plan in action!
3. Esther | October 30th, 2007 at 7:27 am
A decent marketing plan is something that I need to work on too. It’s a difficult thing to figure out…. Good luck!
4. Robin | November 1st, 2007 at 8:29 am
Thank you for sharing your insight. I am in year two of business myself and it’s helpful to get others insights. I am doing direct marketing mostly. I find that having a feature on-line is even better than an ad on-line as the feature stays in their archives and boosts your google ranking online. So for the price you cover two areas of marketing then. I’ve love to brainstorm with you anytime. Robin@kaboodlekids.com
5. Kelly Guenther | March 13th, 2008 at 8:14 am
I appreciate your insight. We are in our first year of business and it seems marketing is a bit of trial and error. I would love to have our shirts sold in baby boutiques, is a sales rep the only way to go or is it possible to market them yourself? Thanks again. Kelly Guenther
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