Understanding the Industry & the Lingo. Basics of a Strong Strategy.

Creating Your Roadmap to Success - Building the Foundation of a Strategy

Budgeting 101 - what are the rules of thumb, building the budget to match your strategy

Who are the Leaders? How do you get the strongest creative for your project in the shortest period of time? (hint - it's all about the brief...)

Media Mix, how to plan, negotiate and get the most bang for the developer's buck!

How many people do you need on your team, what skills do they need, what type of expertise should they have? Plus some tips to manage your team.

This week is an introduction to the course, getting to know the "lingo" and introducing the Project Positioning.

I can't wait to dive into this module with you as as I love numbers! 

Seriously, budgets are one of my favourite things to work on when building a strategy and whether you love numbers or not, I'm going to make sure you have an easy way to put it all down and organize it in a fashion that your development and accounting teams will think you are a part of their team, not the "fluffy" marketing and sales group that's all about fun and games!

So don't fret - whether you love numbers or are stressed out by them, we will make you look like a pro by the end of this chapter.

QUIZ ALERT!  Before you get going this week, take note that I've got a short, but fun quiz for you to take just to get you primed for the session.

Your team of suppliers / consultants / partners is what will make or break you. Having a well-experienced team around you is especially key when you are starting out. Not only does it mean that they already know and understand the business but will also help to educate you along the way.

 

The earlier you can pick your team (even if you don’t have work for them to do yet) the more time they have to learn about your market, make room in their schedule and start to prepare for a success. Most developers will ask you to get up to three (3) quotes, to choose your suppliers. And remember from last week’s budget session that all costs are a project cost and that the developer should pay the suppliers directly, so while they will most likely have the final say, YOU should have strong input. 

 

This week we will go back to that first handout you received when you checked out the course – the Marketing Asset Checklist – and we will go through it and talk about who the different suppliers are to reach out to in order to get each of these items complete on-time and on-budget.

 

We will also talk about a few not on the list – like PR firms, Social / Digital Marketing agencies, and anything else you can think of. So have a pen, pencil or your keyboard ready to start writing things down! Yes, I still believe that writing things down yourself is the best way to commit it to memory!

 

You will also find an RFP (request for proposal) template to customize for your use and I will give you a simple chart to fill out which will help you, and your client, compare and decide who you should ultimately work with.

 

Finally, I’m going to give you a briefing template. Using this will help when you are briefing your suppliers, not only serve to expedite the deliverables, but keep everyone on-track.

 

Handouts this week:

Time to market your development! Generating leads is the number 1 priority at this time, and in order to do this, you need to do some outreach. Media Planning and Public Relations can be overwhelming at times but we are going to help simplify it in the module.

We've got a couple of great downloads for you this week:
- Media Plan Template
- Media Booking Template

PLUS, let's dive into one of my favourite means of lead generation, although it takes a little more effort, it builds great credibility and coupled with paid media, can have huge pay-offs..... PUBLIC RELATIONS!

I'm sure the biggest question you have is "How much?" and "How do I know where to allocate my budget?"

We will tackle these and more.

SO, HOW DO YOU ALLOCATE YOUR MEDIA BUDGET?

Here's some guidelines based on our current market.

DIGITAL - up to 50% of your media budget

PRINT - 5 to 25% of your media budget

OOH (Out of Home) - 5 to 10% of your media budget

TELEVISION - 0 to 10% of your media budget
RADIO - 0 to 10% of your media budget

But where does Public Relations fit in and how much does PR cost? 

Typically I keep this separate, as it's mainly monthly fees and depends on creating stories and pitches that are unique, but relevant to the market. A good PR firm will typically charge between $3,000 - $7,000 per month in fees, plus any collateral, events and expenses. You can expect them to produce / do the following for you as part of these fees:

The payoff in PR can be huge - and this is why it is a very cost-effective means of media. Say you get a full-page article in a major newspaper such as the Vancouver Sun. While you would typically pay $10 to $15,000 for a full colour page ad in this publication, a good PR firm could get you a 2-3 page story which is a $30 - $45,000 value. Think about how quickly your investment in PR pays off in this situation!

Your sales team is your FRONT LINE and the most important people decisions you will make for your development.

What are key factors to consider when assembling your team?

How many people should be on your team?

How do you structure their compensation?

What skills and expertise should they have?

How do you get them trained?

How do you manage them?

This week we are going to talk about the Presale Launch. We will cover off: 

-       The different structures
-       How to approach them 

-       Launch choreography (hey are we dancing?)

-       Guidelines and basic principles 
-       Staffing and helpful hints

The final week is not just going to be about your wrap-up, but assessing what worked, what didn't, what your key learnings were and how to apply those into a strong tempo strategy campaign.