CREATE YOUR MONEY MAP (Marketing Action Plan): Outline Tactics to Achieve Goals

1 02 2017

outline-tactics-to-achieve-your-goalsHere is where the rubber hits the road, so they say…or the art hits the product.  You need to take the time to carefully write down all the tactics, the exact and detailed steps that you must execute to achieve your marketing goals.  Now if you have been following along, you may remember that ‘Prioritizing Your Products & Promotions’ is really where you need to focus your objectives, and therefore, your tactics.

So how will you spend your time to meet and exceed all those targets? And here is a key fork in the road, because if you don’t know what to do to achieve those goals, you need to get help and some answers.  A bit of mentoring, coaching or colleague advice at these critical points can save you a lot of time and money in the long run. Spend a bit of your time and budget to know you are doing the right thing to get to this year’s finish line.

Once you know what you need to do (and in most cases, your tactics will include times you know what you need to do and some where you needed help figuring it out), then get them down on paper and jot down any related timing and budget issues. It is also important to consider any assistance, and other factors necessary, to complete the tactics.

Here is where you can consider themes to entice new audiences and reconnecting with existing licensees to expand your business.  Also make sure you plan for time to market existing successful collections to new manufacturer licensees.

If creating your own product which you sell to leverage toward future licensing deals, then get those details on your tactic list.  Remember that each item needs to start with its conclusion, so you can work backwards to create a time frame for achieving the goal and incorporating your budget items.

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CREATE YOUR MONEY MAP (Marketing Action Plan): Establish Your Marketing Goals

31 01 2017

establish-your-marketing-goalsI hope over the last couple of weeks you have thought about your business in a new detailed way. Now it is time to take all that knowledge and create your marketing goals. Goals are a very interesting breed of objectives. These targets create the purpose for your every activity related to business and they have some very specific qualities.

Remember that goals need to be quantifiable, which means measurable in marketing language. And you need to have goals that are related to sales.

For art licensors, I suggest you start with identifying your new, or first, cornerstone product categories. Here is where you identify that you want to license your art on sports equipment, housewares, party supplies, stationery, greeting cards, gift items or domestics.

Here is where you should target how many deals/licenses you want to close during the year and how many new retail products you want on the shelves in the future. I suggest you also create other achievements as goals, such as brand awareness, audience exposure and product demand, which will create leverage for future deals.

So write out your key goals, those that will help you build revenue in your business.





CREATE YOUR MONEY MAP (Marketing Action Plan) Define Your Budget

30 01 2017

Budgets, and especially marketing budgets, can vary greatly.  The most important factor here is to acknowledge that you need one to run a business and it’s best to establish one for the year.

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I really don’t care if it’s $100 or $10,000, or more.  The important thing is to set one.  If you don’t, you’ll probably spend more than you expected and either use funds you don’t want to use or worse, don’t have.

Once a budget is established, you’ll want to have your MONEY MAP (outlined on a calendar) completed before you allocate your funds to a few or variety of different purposes throughout the year.

Remember to do as much as you can yourself.  This requires understanding your own skill sets and where you have strengths and weaknesses. Knowing what you CAN and WILL do yourself will invariably help you determine what you need to outsource.

Track your spending, so you know when your dollars are spent or freed up.  And then you can identify specific projects that will require additional dollars.





CREATE YOUR MONEY MAP (Marketing Action Plan) WRITE YOUR MISSION STATEMENT

13 01 2017

It’s a great exercise to write your own Mission Statement and you’ll be glad you did – once it’s done.  If you have one, I congratulate you! write-your-mission-statement-day-5-final

A mission statement doesn’t need to be a paragraph, if a sentence will do.  Try to incorporate why you are in business, your target audience, what you are selling and your distinction (USP).

If you are one of those who think they don’t need a mission statement, I’d like to suggest that the time and effort put into writing one can help your business grow for several reasons. First, it helps determine your direction; it’s like the North Star or a compass which helps guide your company’s future. Here is how a mission is different from a vision statement; it’s what you must and will do to reach your goal vs. thoughts about your imaged future. Third, it will provide decision-making direction, a framework of sorts for all types of tactics which will keep you on track. Fourth, your mission statement will shape the strategies for reaching goals.  And fifth, when you know where you are going, it makes it easier to evaluate when you are getting off your preferred path, so you can make changes and improvements quickly as necessary.





November’s One-A-Day Q&A – Question #6

6 11 2016

Q: How hard is it to license art without Photoshop experience?november-q-a-final

A: Tough. Photoshop and the full Creative Suite from Adobe are really vital tools for the art licensor today. They have made it easier for people to work from home and given freelancers and entrepreneurs the ability to send files and get production done from a long distance. Therefore, having Photoshop is really, really important – more important than ever before and practically essential.

I have spoken to many creators and they recommend investing in the full Creative Suite with Photoshop, Illustrator, InDesign and Acrobat Pro. These will enable you to translate your art into presentations, mock ups and the files needed by the manufacturers. If the cost is too much to bite off in one chunk, the latest option is a cloud based version of the full program which will run you about $35 per month. The bonus here is that you will always be using the latest version.

Now, of course, you don’t have to learn Photoshop yourself, if you’re capable and willing to figure out another way to get the Photoshop work done. You need someone who can take your designs and put them in Photoshop for mock ups and presentations. They will also need to be able to send production files to the manufacturer when you get each licensing deal.

What you have to do is keep in mind how not having these skills will affect the revenue of your business. It is not impossible to run a licensing business without knowing Photoshop, but you will then have to hire someone to do it, as well as figure in the time factor. I would say learn Photoshop if possible, or be prepared to pay for the services which will impact your bottom-line significantly.

 





31 Days of Marketing Tips for All Art Licensors- Tip #27

27 10 2016

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31 Days of Marketing Tips for All Art Licensors – Tip #4

4 10 2016

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