The Buzz

Domain 2: Marketing Planning

Posted by Communications2 on Feb. 7, 2022  /  Member Resource  /  Subscribe 0

Written by Josh MacAvoy, Spectrum Engineers

The Markendium, the six-volume SMPS body of knowledge, helpfully explains that “the marketing plan serves as a map to define a firm’s market prospects and key market characteristics” (p. 13).

As Utahns, many of us have spent time hiking in the Wasatch mountains, so we understand the vital importance of having a map and a plan for each hike. If you go hiking without a clear plan of where you are located, where you are going, how you will get there and the dangers along the way, you are bound to encounter problems and disappointment. At a minimum, you will be less confident and efficient on your hike. But it is entirely possible that you will pass key turns, miss out on beautiful views, get injured along the way, and possibly never even reach your goal.

For marketers in the A/E/C industry, a marketing plan, like a map, is just as critical for both our firms' successes and our own ability to reach professional or personal goals. Out of the many Marketing Planning topics, there are two that are especially important and timely—the SWOT analysis and establishing SMART goals.

SWOT Analysis (pp 27-32)
A SWOT Analysis is a way to evaluate through four different lenses: Strengths, Weaknesses, Opportunities, Threats. This is used widely for personal analysis, firm-wide review, and evaluating individual market sectors. By using this approach, you can “review the internal and external elements that have a direct influence on a company’s success” (p 27). Honest evaluation, although painful and uncomfortable, is essential for you to really understand your position in your market. Remember that this evaluation should not be limited to marketing individuals or firm principals alone; invite feedback from a wide selection of individuals and sources, including other marketers, project managers, and key owner representatives.

As you conduct the analysis, here are a few key questions that may help:

• What are you really good at? Your service? Some special knowledge or process?
• In what area(s) do we really struggle to do well, both internally and externally?
• What is changing, growing and expanding that we must strategically position ourselves to pursue?
• What competitors or market factors threaten our current model of business?
  
  

These, and other great questions, are found within SMPS Domain 2. For additional resources and reading, please see the links below.

• Further Explanation, https://asana.com/resources/swot-analysis
• “Are you doing SWOT analysis backwards?” HBR, https://hbr.org/2021/02/are-you-doing-the-swot-analysis-backwards
• “Are your company’s Strengths really Weaknesses?” HBR, https://hbr.org/2019/08/are-your-companys-strengths-really-weaknesses

SMART Goals (pp 49–52)
SMART goals are like hiking trail markers to gauge our progress along the way. You have probably heard a lot about them over the past months, as people make New Year’s resolutions. Simply put, SMART goals force you to refine your goals by making them meet five specific criteria. And if they don’t meet the criteria, then the goals need to be refined or removed. To have SMART goals they must be

• Specific: Generalities aren’t allowed. The more specific you are, the more strategically you can think and act to reach those goals. Avoid superlatives like “good” or “better,” and push past to describe in detail how you will specifically be better as a firm. Be concrete.
• Measurable: How will you know when you have made progress or reached the goal? By making it measurable. Don’t merely say you want to grow; say you want to grow by 15%.
• Attainable: Is this goal something you will need to stretch to achieve or is it entirely out of the realm of possibility? Be aggressive, dream big and grow. But make sure your goals are attainable or you will get discouraged along the way and most likely give up.
• Relevant: Is this goal related to our stated mission and vision? Avoid good goals that don’t actually move you forward with your firm vision. Don’t expend energy in the wrong direction.
• Time-bound: Force your goals to have deadlines and time constraints. Often this is achieved by looking at calendar years, fiscal years and business quarters. Use these time markers to your advantage. Goals that are not time-bound will lack a needed sense of urgency.

For additional resources and reading, please see the links below.

• Further Explanation, https://asana.com/resources/smart-goals
• How to set SMART AEC Marketing goals your firm can achieve, https://marketlinkaec.com/execute-smart-marketing-goals
• AEC Sales & Marketing Planning, Part III: Setting Marketing Goals, https://www.enr.com/blogs/22-marketropolis/post/39216-aec-sales-marketing-planning-part-iii-setting-marketing-goals

In addition to SWOT Analysis and setting SMART goals, if you have questions about the below topics, you should look further into Domain 2, Marketing Planning.

• Clarifying a firm’s vision
• Communicating your mission
• The Strategic Planning process
• Differentiating yourself from the competition
• Facilitating effective planning meetings
• Creating, analyzing and reporting on the marketing budget

Return to list