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Marketing Plan: A Practical Approach

An academic marketing plan is useless. If your objective is to increase revenue, use this POWERFUL and practical PAC Strategy to create and manage marketing.
 
When it comes to day-to-day management of your business, you need to use a simple framework to make decisions and prioritize tasks.
 
This is the simple way to look at your business: You need to create a product, you need to create awareness of the product then you need to convert some of these people into customers.

PAC Strategy: A Better Marketing Plan 

 
PAC Strategy is a simple planning concept that I invented that allows me to see the most important parts of my business on one screen so that I can make better decisions and allow it to be organically updated daily.
 
The most important things I just said are: most important parts of the business, all on one screen, make better decisions, organically updated daily. Now, let’s get into the specifics. 
 
PAC stands for product, awareness, and conversion. 
 
Most business models look something like this.
 
You need to have a product to sell, you need to generate awareness of the product then you need to convert some of those people into customers.
 
Now, you can replace the word product with services and you can replace the word awareness with traffic. It’s all the same thing.
 
It’s critical for you to understand that you need to optimize all three of these.
 
I’m sure you can see that the best product in the world will not sell if your site doesn’t receive any traffic and all the traffic in the world won’t generate sales if your conversion strategy doesn’t work.
 
If you do happen to get a lot of traffic and you do a good job of converting them to sales but you’re selling a crappy product, you will make some sales in the short term
 
but you will get bad reviews, you’ll have a lot of refunds, your payment processor will shut you down, you’ll get blacklisted in multiple places and people will sue you.
 
So you need to optimize all 3 of these.
 
One of the most common reasons that businesses fail is that they only do a good job with one or two of these.
 
Your success will always be limited by your weakest link in this sequence.
 
I repeat, Your success will always be limited by your weakest link in this sequence. You have to optimize all of them.
 
As always, the best way to demonstrate a concept like this is with a simple example. If you want to see it in action, watch the video. I’m using Trello in the video. It’s free and makes this all very simple.
 
PAC strategy is like a practical business plan that you will use every day.
 
It can be adjusted daily. It will show you the big picture and also tasks for today on one screen.
 

Marketing Plan: Other Considerations

 

Your marketing plan can become even more effective is do competitor research (and completing a competitive analysis) so that you can develop a unique selling proposition. People need to be clear about why they should buy from you and not your competitor.
 
After attracting your target market to your website you will need to make sure that you have created an effective funnel and addressed all of the website trust required to maximize conversions
 

Download Our Free ‘Start A Business’ Guide

Use our “Impact Entrepreneurship” checklist to start your business and make the world better.

  • Adam Radly

    Founder
    Founder of IIMAGINE. More than $100M raised. TEDx Talk about passion > 1 Million views. Founder of World Reconciliation Day with Nelson Mandela. Founder of One Direct Democracy.