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This sample marketing plan can be edited directly in Sales and Marketing Pro software.

Critical numbers will be tracked with the following systems:

  • Salesforce CRM database - to track lead conversion and generation.
  • QuickBooks accounting system - to track sales and cost of sales. The bookkeeping program manager will update Sorcerer's Accountant Accounting's books and reports will be examined weekly by Max Greenwood
  • PR mentions will be tracked by the outsourced marketing service firm and reports provided.

Sales Forecast

Unit prices represent the average project cost for tax services ($750), cost accounting projects ($1,000), and QuickBooks services ($300). Bookkeeping services are set at $30 per hour. Direct unit costs are very low for all of these services as they are primarily labor services. Tax projects incur a 5% cost for printing and travel, cost accounting projects incur 3% cost, primarily for travel.

QuickBooks services are generally given remotely and sales of QuickBooks are done directly to the vendor (Sorcerer's Accountant receives a commission on software sold). Bookkeeping services incur a 50% cost of sales as the bookkeepers are billed at $15 per hour.

Total sales are expected to rise significantly with the success of the bookkeeping services revenue stream. The existing revenue streams are projected to grow at slow rates, as Max Greenwood cannot take on much additional work. They are not projected to grow at all in 2010, as Greenwood will spend additional time on the establishment of the bookkeeping services. Furthermore, these revenues will drop by 20% in the first quarter as additional time is spent by Greenwood on hiring, training and launching this revenue stream.

The sales forecast assumes part-time bookkeepers working 20 hours per week. These will grow from two bookkeepers working below capacity at the start of 2010 to three by the end of 2010, to four in 2011 and eight by the end of 2012. Revenues will begin in the second month after training in the first month of 2010. This growth rate is made possible by the intention to do everything possible to retain clients and grow with them, as well as to actively seek referrals to other businesses from each client. Two levels of oversight (Greenwood's oversight over the Bookkeeping Manager, and the Bookkeeping Manager's oversight over all bookkeepers) will improve quality assurance and the chances of a high level of client retention and satisfaction.

Direct cost of sales are very low for the business as most costs are fixed. Travel to client sites, printing and paper, and other direct supplies for clients are the only direct costs for services provided directly by Greenwood. The direct labor of student bookkeepers for the bookkeeping services is $15 per hour, or 50%. Wages for non-billable hours (training periods) for new bookkeepers are listed in the Personnel table.

Sales Forecast

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Sales Forecast
Year 1 Year 2 Year 3
Unit Sales
Tax Preparations 125 130 135
Cost Accounting Analysis 60 63 65
QuickBooks Services 57 59 62
Bookkeeping Hours 1,570 3925 7850
Total Unit Sales 1,812 4,177 8,112
Unit Prices Year 1 Year 2 Year 3
Tax Preparations $750.00 $750.00 $750.00
Cost Accounting Analysis $1,000.00 $1,000.00 $1,000.00
QuickBooks Services $300.00 $300.00 $300.00
Bookkeeping Hours $30.00 $30.00 $30.00
Sales
Tax Preparations $93,600 $97,500 $101,250
Cost Accounting Analysis $60,300 $63,000 $65,000
QuickBooks Services $17,100 $17,700 $18,600
Bookkeeping Hours $47,100 $117,750 $235,500
Total Sales $218,100 $295,950 $420,350
Direct Unit Costs Year 1 Year 2 Year 3
Tax Preparations $37.50 $37.50 $37.50
Cost Accounting Analysis $30.00 $30.00 $30.00
QuickBooks Services $0.00 $0.00 $0.00
Bookkeeping Hours $15.00 $15.00 $15.00
Direct Cost of Sales
Tax Preparations $4,680 $4,875 $5,063
Cost Accounting Analysis $1,809 $1,890 $1,950
QuickBooks Services $0 $0 $0
Bookkeeping Hours $23,550 $58,875 $117,750
Subtotal Direct Cost of Sales $30,039 $65,640 $124,763

Marketing Expense Budget

Marketing will include the activities listed for 2010 in the milestones table as well as additional runs of print ads in local publications beyond the first few months. Direct marketing is primarily postcard mailings every other month to 2,000 suspects. This expense as a percentage of sales will drop somewhat in future years as marketing returns to the business's focus on referrals and word-of-mouth from clients. However, marketing expenses are expected to rise with inflation, estimated at 4%.

Marketing Expense Budget

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Marketing Expense Budget
Year 1 Year 2 Year 3
Advertising $15,000 $12,480 $12,979
Direct Marketing $18,000 $18,720 $19,469
Public Relations $6,000 $6,240 $6,490
Web Development $6,000 $6,240 $6,490
Prospect Education $1,200 $1,248 $1,298
------------ ------------ ------------
Total Sales and Marketing Expenses $46,200 $44,928 $46,725
Percent of Sales 21.18% 15.18% 11.12%

Key Marketing Metrics

The number of leads generated will be a prime determinant of the success of the business. With an anticipated conversion rate of 10%, a high number of leads must be generated each month to yield customers. It is expected that one referral will be generated, on average, from each client and almost all clients will provide testimonials at some point. Each month's billing for a project (tax or management accounting) or bookkeeping services is considered a transaction for the purposes of tracking.

Key Marketing Metrics

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Key Marketing Metrics
Year 1 Year 2 Year 3
Revenue $218,100 $295,950 $420,350
Leads 1,592 1,751 1,926
Leads Converted 10.00% 10.00% 10.00%
Avg. Transactions/Customer 1.20 1.30 1.40
Avg. $/Customer $500 $500 $500
Referrals 159 175 193
PR Mentions 26 30 35
Testimonials 87 95 100
Other 0 0 0

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