Thursday, January 24, 2008

How to write a marketing plan for a note business.

The following plan is consolidated steps from ehow.com to fit a note business. Please reference the original steps if you need further information.
Step 1: Marketable product, Unique, Fill a need?Note brokering is an extremely marketable product for consumers who know of no other alternative for solving their seller-finance needs. The customers are the note holders themselves, the professionals who help create these notes (which lead to the holders), or a mixture of both.
Step 2: Marketing strategy, BudgetDetermine who you are marketing to. Whether individual note holders, referral sources, or a mix of both. Also figure out how you are going to come up with your mailing lists, whether organically or from a purchased list. Next, think of what kinds of materials you are going to use to market- postcards, newsletters, etc.- and to whom goes which. Some marketing materials work better with professionals who have little time to read them. Third, itemize the list and research the cost. This will help you better determine a budget.
Postcards - $xyzEnvelopes - $xyzStamps - $xyzNewsletter printing - $xyzEtc.Step 3: Overall objectivesSet yourself measurable goals. How many deals do you want to do a month? Make sure they are reasonable. If you are a fairly new company, doing 30 deals a month is virtually impossible. How many referral sources do you plan to have? Also, be realistic about commissions. Don’t try to make every deal your “windfall”. By setting real amounts to your commission, you will be able to better determine how many deals you should be doing.
Step 4: Create a guidelineConclude with an evaluation guideline that includes timelines for reaching specific goals, including new customers identified, and budgeting goals achieved. Emphasize what should be accomplished within one year, but include shorter-term benchmarks to track results along the way. Schedule meetings to evaluate progress.
Step 5: Executive overviewThis is the summary stating the major points of your plan. It should be no more than a page long, with bulleted lists and short sentences, and is the first page of your marketing plan. It should also include the most important financial numbers.
That’s it! Most marketing plans are much longer and more detailed, however, I feel that this is a good model to build from, especially when dealing with a note business. Have fun!

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