Presentation on theme: "Cost effective marketing"— Presentation transcript:
1 Cost effective marketing Ann Goodwin, FCIM, DipM,Chartered Marketer
2 What is marketing? Not simply another word for selling! “The aim of marketing is to make selling superflous” Peter DruckerB2B communicationsNeed to let clients know:You existWhat you are offering to do for themWho else you have done it forWhat makes you different from or better than other solutionsKeep reminding themCIMIts about building big brands, massive advertising budgets
3 What is marketing?“The management process responsible for identifying, anticipating and satisfying customer requirements profitably.”Chartered Institute of Marketing definitionOpportunity to download information on their site
4 Develop your strategy Develop answers to 4 key strategic questions: Where are you now?Where do you want to be?How might you get there?How will you ensure arrival?Why develop a marketing strategy?Can you develop a strategy on your own?You need to carry out an auditWhy?Why conduct an audit? To confirm: Your target audience(s) and the benefits relevant to them How can we maximise the opportunities and negate the threats To seek: Clarification and avoid misunderstanding To provide relevant information to make informed decisionsMinimise wasteOptimise budget and ROIProvide a benchmark for futureProvide clear objectives to be measured against
5 Know your market placeCheck the health of your business from marketing perspectiveLook for opportunities to maximiseThreats to minimiseConduct a marketing auditUnderstand your target audience and what is important to themDon’t just assumeConsider the DMUDecision making unitUnderstand the purchasing criteriaAsk questionsWho, what where, when, how:Why might clients find buying your services difficultHow do clients find out about your type of service?
6 Understand your business CustomersWhat would be good questions to ask customers?CompetitorsWhat questions would you like to know about your competition?Where did your business come from?Conduct a SWOT, PESTWhat business are you in?RevlonXeroxParker7 PsProducts, Price, People, Physical Evidence, Place, Processes, PromotionAsk Family/Friends to helpQuality of serviceCommercial awarenessValue for moneyLevel of serviceProblem solving abilityBusiness track recordExpertise in a particular marketing disciplineExpertise in a specific marketAppropriate size for the projectLocationPeople chemistryDecision making unit – who will influence decision?Others??CUSTOMERSWhy do they buy from you?Ask them!Do they have any referrals?Would they provide testimonials?What service or product would they like to buyWhat does your business offer to potential customers?What do your customers care about?COMPETITORSWho are they?How do they attract customers?What messages are they conveying?Where and how?
7 Product or market focused? Are you really customer focused?Do you give the customer what they want and valueNot what you think they wantBut I offer a service so I must be market focused?Do you sell existing services to potential clientsRather than think about developing those services to meet clients’ continually changing needsIn the last 6 months have you formally discussed with each of your clients their general marketing needs as opposed to project –specific needs?Have you improved your offer in any way in the last 12 months in response to changing market or client needs (rather than your own process or profitability)Do you have any specific plans to improve plans to improve your offer in any way in the next 12 months?
8 Specific Where do you want to be? Timely Measurable Achievable Set SMART objectivesSpecificMeasurableAchievableRelevantTimelyIdentify your planning gapDefine the overall business objectives for your companyWhere do you want to be in 5 years time?Challenging but realisticSpecifically wordedTime-definedMeasurableClearly understood by all interested partiesFrequently revisedDecide growth/maintenance strategyDefine your marketing objectives for next 12 months
10 Planning gap Say £100k How could this be achieved 10 orders of £10k100 orders of £1k eachWhat do I need to achieve 10 orders?Say proposals have 1 in 4 success ratioOn average for every 4 quotes I write 1 get one orderIf I speak to 10 people I get 4 enquiries and opportunities to quoteTo speak to 10 people I need to make spin dials = 8 hours activityTo get 10 orders I need to make 1000 spin dials = 80 hoursIs this feasible?Do we know who to contact?What can I do to improve my performance?Market penetrationProduct developmentMarket developmentDiversification
11 STP Segmentation, Targeting & Positioning What are the segments in your market?Establish your positioningWhat are you?Who are your competitors?Why will prospects want you?Develop a sales propositionThe best proposition does do not shoutHeard and believed, but rarely noticedGood sales propositionsQuietly and skilfully slipped into a conversation or a written documentUSP – what you can offer that no-one else canIf not unique then make it meaningful!
12 Who wants you? Finding your target audience Vertical marketsWho would want a niche product, a complementary range of services?Horizontal marketsWhich wide groups of users would want your product & service?Clients, middlemen and decision-makingWhat will they be looking for?Geographical limitsWhat is reasonable for you and your clients?Demographic targetingConsider business sectors, geographyIdentify Company names, Job title and roles, Individual namesPsychographic targetingFinding clients who you know need your servicesTo solve a problem they haveVertical – a chip manufacturer working with a pc building company, web developer for NHS trusts – linking patients dataHorizontal – word processing software, web developerIntroducers, printers – graphics designers, photographersDemographics – what business sectors are out there which would need your serviceWhat problems can you solve?
13 Features and benefits Features tell, benefits sell: F.A.B Different target groups : different messagesRelevant and meaningfulF.A.BFeatures, Advantages, BenefitsSO WHAT!!!!!Be passionateAbout your clients and your serviceSales letters, brochures & credentials presentations often start with:We have been established for ten yearsWe deliver HR policies on Maternity, Sickness, WelfareWe have an office in NottinghamWe employ 5 peopleStop the urine disease!We, we, we, we, weTalk about you, you, you
14 Benefits We have been established for ten years so that you can be confident that we are an experienced, commercially viable company which knows what it is doing and will not fold in the middle of a projectWe deliver HR policies on Maternity, Sickness, Welfareso that you can benefit from our expertise in that area and save yourself timeWe have an office in Nottinghamso that you can rely on us to be with you quickly should a problem occurWe employ 5 people –so that you can relax, we are small enough to care, but large enough to ensure you have the necessary resources for your projectCustomers only buy services to solve problems – the benefits you offer must directly address their needs.
15 Benefit or positive words Win marketing (UK) Ltd, ,
17 Plan your 7 Ps Use marketing mix to gain competitive advantage Product (service)What niche product or service can you deliver specific to that sectorPriceIntroduce a low cost product or service that can be sold next to the premiumPeopleWho will sell, customer service supportProcessesStreamline, be more customer focused, cross sellingPlaceOnline, at client’s premisesPhysical EvidenceConsistency, recognitionPromotionBe consistent and persistentSet targets and monitor performance
18 Promotion Tactics to get you noticed AdvertisingPRDirect marketingWeb marketingSellingApply some professional PR and marketing skillsNo approach will obtain businessIt’s up to you to convertAttract customersBroadshot methodBulls eye methodBe clear in your propositionConsistentWebsiteSocial Media MarketingSearch Engine OptimisationOnline PROnline directoriesOnline advertisingOnline word of mouthPermission based campaignsAnalyse websiteAdjust based on findings, e.g., strengthen the call to actionDirect marketingTelephone marketingDirect mailTraditional PRNetworkingSelling
19 Advertising 50% works Great for brand awareness If you are luckyGreat for brand awarenessGenerally not specific enough for small businessesPay per clickCost effective tool
20 Media relations Cost effective promotional tool Free publicityRadio, Newspapers, trade magazinesIdentify and research publicationsEducate yourself about the mediaIdentify individuals and feature opportunitiesStart an ideas bookEngage with friends and familyLook for ‘hooks” to create publicityWhat best publicity stunts do you remember?How could you adopt that for your business?What publicity stuntsRegularly generate ideas – quick brainstormingBorrow ideas from businesses in other industriesWhat sort of stories are published regularlyHow could you adapt these stories to your businessAsk people outside your business for ideasPeople you trust, networking groups, online forumsHelps to focus on ideas that people outside of your company would find interestingRing a journalist and askTalk to them, what stories are they looking for – it makes their lives easier
21 Attracting media coverage Gauge the types of stories that are hotTie your business in with news, issue a statement on a situationSend letters to editors about industry or local issuesThink of a way to present the story with a fresh angleNatural PR opportunitiesNew product launch, Opening new premises, be different, introduce new or improvedCelebrate anniversaries, 10 years old, 1000th customerAnnounce a new member of your teamSponsor local sports team or art exhibitionAnnounce publicity you have hadHold a competitionPresent an awardStage a special event, debate, or a demonstrationMost businesses generate natural opportunities for PRMaximise the publicity value of these opportunities by thinking of an angle to make them more interestingGauge the types of stories that are hotTie your business in with Current events, breaking news,Every journalists is looking for a different spin on the story of the dayThink of a way to present the story with a fresh angleConsider human interest linkAssociate it with your business or productNatural PR opportunitiesNew product launch, Opening new premisesBe differentIntroduce something new or improvedCelebrate anniversaries, 10 years old, 1000th customerAnnounce a new member of your teamSponsor local sports team or art exhibitionAnnounce publicity you have hadLaunch informative blog on your websiteOffer free informationGive something free to readersIssue a statement or report on a situationArrange for an interview with interesting or unique personalityPresent an awardHold a competitionStage a special event, debate, or a demonstration
22 PR ideas to attract Offer a series of articles - Be the expert Radio phone inProduct placement on TV programmesSolve a problem, Create a problemDo something in a different wayBe anti-corporateAttempt to set or beat a recordCommission a survey – serious or frivolousWork with charities and develop community involvement programmeDonate products to charity eventsTeam up with suppliers/customers joint publicityBecome a figurehead in an organisationso that its publicity brings you publicityIf no news be creative!Brainstorm for new ideas and look at what gets coverage
23 Preparing a press release Develop the storyCompelling headlineAvoid clever titles– they can look amateurishUse AIDA approachAttentionHave a strong introduction, powerful first paragraph to grab attentionCreate interestMove quickly to subject matter to develop interestArouse desireLet the reader get to know a bit more about the subjectActionConfirm how the reader can find out more or react to the newsPowerful first paragraphIdentifies the news angle and its relevance 5tio the readership
24 Develop press release content Self contained paragraphsDecreasing order of importanceA paragraph can be used as a filler if it still makes senseUse a quote – highly effectiveDon't be patronising, long winded abusive, too woollyKeep it short and simpleNo more than 2-3 pages double spaced typingOnly use acronyms after the letters have been explained in fullThink about what kind of story the publication is looking forDoes this release deliver?Adopt the right tone, relevant to the publicationConsider tailoring the story with different angles for different publicationsIt’s essential that yours stands outAvoid jargonKISS – Keep it short and simplePick up the phone and discuss your story
25 Photographs Use photographs in your promotional material Interesting and relevant picture will increase chances of publicationHelps to attract attentionUse a professional photographer if possibleUse a caption
26 Wider PR activities Cross promotion opportunities with partners Joint newslettersJoin professional associationsOffer support speaking, writing articlesNetworkingDevelop strong elevator pitchListening skills, develop relationships and trustFollow up as relevantStrong business cardUSPPhoto
27 Word of mouth Referrals & recommendations Networking Current and past clientsOther professionalsAsk for recommendationsNetworkingNot just passing out business cardsGet out and aboutGo to client sector events
28 Direct Marketing Communicate directly with your customer Develop a CRM systemIdentify personal detailsRefer to later, e.g., a birthdayConfirm the market segmentTailor communication to relevant peopleCirculate relevant marketing communications materialPress releasessPost cardsCase studiesFollow up with telephone call
29 Marketing communications Be interesting and relevantF.A.B and AIDA, You - not we, we, we!Sales lettersPersonal, Relevant, Outward-facing, PoliteMailers & profilesShort profiles can be mailedEncapsulate information without expensive brochuresInventive invitations and unusual greeting cardsClear objectives – what exactly are you trying to achieve?Be attractive, visible and memorableConsistentClear response mechanismBrochuresClear information, readers will be interested inWhat you do, results you have help clients achieve, how you do it, for whom you do itEfficiency and productivity gainsClient quotesBe distinctive, memorable and consistentUse minimum text, illustrations and good quality photographs
30 Testimonials Ask clients to provide them Ask clients for referrals Use as case studies on your websiteCreate a blog around a case studyHave a short sentence to pick out salient pointsUse in proposalsSeek to have 5 quotable quotes from clientsThird party credibilityAsk clients for referralsSet up a process to encourage them
31 Web Marketing Website Launch informative blog on your website Build content around F.A.BBuild content for search enginesKey words, title tags, image descriptionsContent is KingUse photographs and videosLaunch informative blog on your websiteOffer free informationArrange for an interview with interesting or unique personalityOnline advertisingAdwords, Facebook, Trade forumsSurvey across 5,000 people aged over 18 across Europe – asked most important source they consider when making purchasing decision:Online 26%Personal recommendations – 20%Magazines & Papers – 12%TV & Radio – 11%Websites – 11%Shop staff – 10%
32 Web Marketing Use social media Forums Permission based emails Twitter, Facebook, LinkedIn, You Tube etcLink to your blogPosition yourself as an expert and trusted sourceForumsMonitor trade and consumer forumsPost responsesPermission based sRelevant informationUse Google analyticsUnderstand trafficAdjust tactics, strengthen call to actionSurvey across 5,000 people aged over 18 across Europe – asked most important source they consider when making purchasing decision:Online 26%Personal recommendations – 20%Magazines & Papers – 12%TV & Radio – 11%Websites – 11%Shop staff – 10%
33 Getting the business Credentials presentation Preparation Proposals Be clear why are you doing this presentationWhat do you expect to get out of itBe recipient focusedTelephone confirmation – get more factsUse examples to support your claimsListen & learnLeave document summarising your presentationFollow up with letterIf not successful ask why?If successful – ask Why?ProposalsWritten to stand aloneWritten to reflect your professionalismAccurate, comprehensive, well structured, well writtenTerms of business
34 Selling = Success Activity x Skill x Attitude Review your performance | Be honest | Seek to improve
35 Monitor and evaluate Is the plan working? Measure effectiveness Observation, experience and feedbackPeople and attitudes changeCustomer complaints, ideas, suggestionsAnalysis of your communication effortsLevel of enquiriesWeb trafficNewspaper cuttings
36 Resources Database Sources of information People Money matters Online, cloud systems now availableMailing, competitors, proposals, presentationsSources of informationUse public data to help in your auditPeopleConsider external support - how much can you realistically do yourself?Money mattersPower of marketing lies in the brain and not in the walletImagination, consistency and persistence – more useful than cheque bookSet targets in terms of fee income or gross profitPromotion v production –Opportunity cost?
37 Summary Marketing is an investment Develop a marketing plan Not an expenseDevelop a marketing planDevote enough time and energy to implement planBe persistentGet creativeLocal publicity stuntsMarket promotionsBoring, inappropriate, irrelevant, bad releases and communication will not be noticedWhen you gain a client – KEEP THEMKeep in touchBe positiveDon’t buy into the negative, doom & gloomAdopt your own proactive infra-red systemUnderstand market – ask good questionsCustomers, competitors, PEST, SWOT
38 Your Proactive Infra Red for Marketing Adopt your own proactive infra-red systemPlanWhere do you want to be?Smart objectives – quantifyIdentify planning gap and how you will meet thisImplementUse the 7ps of marketing to gain competitive advantageReviewAre you on trackWhat do you need to improve onInfra – below our ability to detect visuallyRed – lowest energy that our eyes can sense before it becomes invisibleInfra red – applies to many sources of invisible energyProactive Infra redProvides an insight into our marketingWithout it you cannot see what is happeningWill give you competitive advantageBe ahead of your competition