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Collaborating for Success: Marketing and Finance Team Up for Effective Strategy

Join Laura Patterson from VisionEdge Marketing and Wendy Gustafson from Full Sail Partners in this insightful webinar on crafting a marketing plan. Learn how to align marketing and finance strategies to enhance organizational growth. The session covers essential budgeting techniques, setting measurable goals, tracking results, and understanding the benefits of collaborative efforts. Discover ways to increase your client base and improve profitability through effective marketing and financial strategies. Don't miss this opportunity to gain valuable insights and tools for your business.

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Collaborating for Success: Marketing and Finance Team Up for Effective Strategy

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  1. Crafting a Marketing Plan How Marketing & Finance Can Team Up for Greater Results Presented by: Laura Patterson, VisionEdge Marketing Wendy Gustafson, Full Sail Partners

  2. Agenda Agenda CRM • Resources • WebEx Instructions • Presentation on Crafting a Marketing Plan | How Marketing & Finance Can Team Up for Greater Results • Questions • Resources

  3. Other resources from Full Sail Partners: Webinar • 11.20.2013 - What’s New in Vision 7.1 & 7.2: http://bit.ly/1hmauoD • Archived: Growing Smarter! Core Growth Strategies for PS Firms:http://bit.ly/16JePLy Articles • Difference Between Project Backlog & Forecasting: http://bit.ly/1atDWze • Why Cash Flow Planning is Essential for Growth: http://bit.ly/1hmbfhe • Professional Services Marketing – A Changing Landscape: http://bit.ly/1hPCe2G

  4. WebEx Instructions Raise Hand (be sure to click again to remove raised hand or feedback information) Feedback Tool (use for yes/no questions or to provide the speaker feedback. Mute (mute yourself when you need to talk to someone in your office or put the line on hold) Q&A (Type in the Q&A dialogue box [Not Chat] to ask a question. Be sure to choose All Panelist) Sarah Gonnella (Host) Your Name 1 3 2 4

  5. Crafting a Marketing Plan How Marketing & Finance Can Team Up for Greater Results Presented by: Laura Patterson, VisionEdge Marketing Wendy Gustafson, Full Sail Partners

  6. Crafting A Marketing Plan What is a budget? A budget is a documented expectation of your revenue, expenses and profit for a given timeframe.

  7. Crafting A Marketing Plan: What ELSE is a budget • Documentation of your goals: • New Services • New Geographic Areas • Growth – Existing and New • # New Clients • # Referencaeble Clients • Documentation of your assumptions: • Employee Utilization • Lead Generation • Hit Ratios • Pay Rates/Bill Rates Ensure your goals are measurableand reportable

  8. Crafting A Marketing Plan Establish your Growth Goals: Target New Clients Increase # of New Clients by 5% • Webinar • Event Sponsorship • Organization Participation

  9. Crafting A Marketing Plan Understand Growth Goal Costs • Webinar • 5 webinars with 3 hours needed average pay rate $45 - $675 • Event Sponsorship • $12,000 Sponsorship – Banner, Booth, Registration • 6 people attending for 4 hours average pay rate $50 - $1,200 • Organization Participation • Registration $500 • 1 person at $50/hour 2 hours month $1,200 Total Cost $15,675 Who will do the work What is lost revenue

  10. Crafting A Marketing Plan Understand Benefits (ROI – Return on Investment) Growing client base by 5% • Currently 150 clients so adding 8 clients • Targeting clients with expected average revenue to be 75,000 per year • Current hit ratio is 34% so need 24 proposals • Conversion ratio is 25% 96 Leads 3,500 additional staff billable hours or a 3% increase in utilization Expected Revenue Growth $600,000

  11. Crafting A Marketing Plan Tracking Results Set up tracking mechanism when setting goals • Know your current metric • Specifically define goal • Set reporting frequency (daily [whew!], quarterly, monthly, annual) with benchmarks (i.e. 1 new client by March, 4 new clients by June, etc.) • Automate with your ERP is possible but ensure you have mechanism – even excel works

  12. Report your results: Example in Excel • Labor intensive • Easily forgotten • Hard to report to executives • ERRORS!

  13. Marketing Goals • Use Your ERP for Results… Info is already there

  14. Employee Goals • Use Your ERP for Results… Info is already there

  15. Financial Goals • Use Your ERP for Results… Info is already there

  16. Budgeting in Excel • Use Your ERP for Results… Info is already there

  17. Budget Import • Use Your ERP for Results… Info is already there

  18. Budget Import Delete header row before import • Use Your ERP for Results… Info is already there

  19. Questions?

  20. Connect with us today! Connect with Full Sail Partners: LinkedIn: http://www.linkedin.com/company/full-sail-partners Twitter: http://twitter.com/#!/reachfullsail YouTube: http://www.youtube.com/user/reachfullsail

  21. Thank you for attending! For more information contact: Sarah GonnellaVP of Marketing888.552.5535 x102 info@fullsailpartners.com Hearing what you have to say, whether criticism or praise, helps us provide you better information and service. Please fill out the survey and provide your feedback. www.fullsailpartners.com

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