Goals and Objectives Key to 2011 Marketing Plans

In the book, What They Don't Teach You at Harvard Business School, Mark McCormack refers to a study conducted on students in the 1979 Harvard MBA program. In the study, students were asked, "Have you set clear, written goals for your future, and made plans to accomplish them?" Only three percent of the graduates had written goals and plans; 13%  had goals but they were not in writing; and 84%t had no specific goals at all.

The members of the class were interviewed again 10 years later, and the findings were incredible. Students who had goals were earning on average twice as much as the 84% who didn’t have any goals. The three percent with clear, written goals were earning 10 times as much as the others.  What does this have to do with marketing for professional services firms?

Setting goals and planning your path for bringing in new projects for 2011 is hard work and can feel slightly overwhelming with all of the other year end business activity. It is the old, "up to you neck in alligators" story. Many professional services firms believe they can survive just fine by copying last year’s marketing plan and adding a contingency. Or, in the case of the last two years, deleting some resources.

What did your 2010 plan look like? Can a simple contingency in 2011 make it look better? Professional services firm marketing is not rocket science, but the facts are clear: Firms with a strategic focus and current client assessment in their marketing plans are more successful. Maybe they are not 10 times as profitable, or even twice as profitable, but they are moving forward in the right direction. That isn't bad considering many firms in today’s economy simply want to return to profitability.

With 2010 ending this week, it is not too late to plan out your marketing for 2011. At Business Development Professionals we have been working with many firms helping them plan their strategy and actions for 2011. Our initial conversation and assessment are free. The 2011 results for your firm could be priceless.