DT #468 Ron Kresha of Golden Shovel - Creating a Marketing Plan

Develop This: Economic and Community Development

Ron Kresha - COO & CFO Golden Shovel

Creating a Marketing Plan

Ron Kresha, Chief Operating Officer, is a founding member who helped start Golden Shovel Agency on the premise that every community deserves to be recognized and to have the tools needed to compete for businesses and jobs. He is committed to providing services that improve communities and people’s lives. Ron refers to himself as a serial entrepreneur who has been told he’s “too stupid to know how to fail”. He wears that as a badge of honor as a person who never quits on people, companies, or communities.

How has marketing for economic development groups changed?

How have websites changed and how we access information changed?

• The percentage of global web traffic on mobile phones has surged over the past decade. In May 2023, 51.52% of all web traffic came through mobile phones, with the average for 2023 so far coming in at 56.86%.

The importance of a Strategic Marketing Plan

Golden Sovel white paper AN ECONOMIC DEVELOPER’S COMPLETE GUIDE TO MARKETING & SEO STRATEGIES

Strategic marketing is creating a comprehensive plan that aligns with an organization’s overall strategy to achieve specific objectives. It involves:

1. Identifying the target audience & understanding the competition.

2. Developing a unique value proposition (UVP).

3. Creating a marketing mix that effectively communicates your message.

This long-term process requires a deep understanding of the market and the organization’s goals.

CRAFTING & EXECUTING A STRATEGIC MARKETING PLAN

To achieve success, economic developers must effectively execute their plans, measure the effectiveness of their marketing efforts, and adjust their approach as needed to ensure the desired results are achieved.

1. Determine your marketing mix. Decide which marketing channels (such as advertising, PR, social media, email marketing, etc.) will most effectively reach your target audience and achieve your goals.

2. Create a budget. Allocate resources to each of your marketing channels and tactics. Be sure to consider both the cost of creating and executing the marketing plan and the potential return on investment.

3. Develop a timeline. Create a timeline for executing your marketing plan. Assign specific tasks and deadlines to team members responsible for each tactic.

4. Implement the plan. Begin running your marketing tactics according to your timeline.

5. Measure and analyze results. Continuously monitor your marketing efforts and analyze your results. Use data to identify what’s working and what’s not, and adjust your plan accordingly.

GET SMART

SMART goals are a popular framework for setting and achieving goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound.

1. Specific: Be clear and specific about the results. Instead of setting a vague goal like “post more content,” set a specific goal like “post relevant community events every week for ten weeks.”

2. Measurable: Ensure your goal is measurable. This means setting criteria for success, such as tracking your social media interactions and increasing economic development conversations.

3. Achievable: Set goals that are realistic and achievable. Don’t set yourself up for failure by setting an unrealistic goal. Instead, ensure your goals can realistically be accomplished with your current resources and abilities.

4. Relevant: Make your goals relevant to your larger objectives and values. Ask yourself if the goal will help you achieve something meaningful.

5. Time-bound: Set a deadline for your goal. Stay focused and motivated. For example, set a deadline of three months to aggressively

Using SMART goals will make your goals clear, measurable, achievable, relevant, and time-bound, setting you up for success.

TOP REASONS STRATEGIC MARKETING PLANS FAIL

There are several reasons why strategic marketing plans can fail.

#1 Poor planning – successful strategic marketing requires a well-defined plan with clear objectives, target audience, and tactics. If an EDO fails to plan correctly, it can result in inadequate or ineffective marketing efforts.

#2 Not understanding your target audience – an EDO’s marketing strategy depends on how well it understands its audience. Failure to understand can lead to marketing campaigns that are irrelevant, uninteresting, or unappealing.

#3 Insufficient resources – implementing a strategic marketing plan can be costly, and a lack of resources can result in an inability to execute the plan effectively. This can include lacking financial resources, human resources, or time.

#4 Poor execution – even the best marketing plan can fail if the execution is poor. Poor execution can result from a lack of attention to detail, ineffective communication, or insufficient training and support.

#5 Inability to adapt – the marketplace is constantly changing, and a successful marketing strategy requires adapting to these changes. Failure to adapt can result in a marketing strategy that is no longer effective or relevant.

#6 Lack of differentiation – in today’s highly competitive market, it’s crucial for companies to differentiate themselves from their competitors. Failure to differentiate can make it difficult to attract and retain businesses and workforce.

Pulling together the components for a website or marketing effort derails most people.

• Copy
• Photos
• Data
• Graphics

Golden Shovel has a four step process

• Schedule a call
• Develop a strategy
• Engage
• Measure success