June 13, 2008

Rebuild Your Database Marketing Department: Part 5

Create The Strategic Plan For Year Two

You are ten months into your rebuilding project.

You know your team, their strengths, their weaknesses. You know what your company needs. You know the capabilities of your vendor team. You picked up all of the low-hanging fruit.

It is time to set your strategic vision for year two of your rebuilding project.

This requires you to collaborate with many audiences.
  • You need input from your Executive Leadership Team.
  • You need input from key employees in the company.
  • You need input from your leadership team.
The strategic plan for year two outlines what you will be working on, what you need resources for, and outlines how the company benefits from the investment they will make in your team.

You have thoroughly measured everything about customer behavior --- this knowledge is the basis for the strategic plan.

You'll probably need a significant investment in systems in order to accomplish your goals. The strategic plan tells folks why systems must be improved, and is defended by facts about your customers. If you don't get "x", the company fails to generate profit totaling "y".

The strategic plan tells your team what they need to focus on in the upcoming year. The strategic plan tells your Executive Co-Workers what you will be focusing on. The strategic plan informs the company what your team will do to drive the bottom-line.

The Math Behind Best Customers

Those of you involved in Catalog Marketing run optimization tables, right? Right?? Here's an optimization table for really go...