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Marketing Planning for Entrepreneurs
 

Marketing Planning for Entrepreneurs

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Presentation on marketing planning delivered to The Entrepreneurs Network in London, September 2010

Presentation on marketing planning delivered to The Entrepreneurs Network in London, September 2010

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  • Importantly we should talk about what Marketing isn’t too. Advertising. it isn’t just communications.
  • 1. 'planning' up front will enable you to align your marketing effort to customer needs and align you marketing campaign to specific segments
  • Situation AnalysisSWOT analysisCompetitionMarket positioningObjectivesDefine what you want to achieve e.g. Sales growth, market share, increased profitability3. StrategyWhat are the factors involved in achieving each objective e.g. Sales example, develop value propositions and build sales pipeline4. TacticsThe specific campaign elements. For example telemarketing for building sales pipeline5. Action Schedule your campaign into ensure it integrates with over campaigns and is well managed6. Control Keeping track of who does what, when and at what cost – the measurement side of things.
  • What are the core tactics for generating sales leads and how should sales and marketing work together? In reality, you probably are the sales and marketing department right. It really depends on your target audience and your product or product category. No two circumstances will require the same marketing tactics. You might try to link your marketing tactics to the stage of the product lifescycle too...To target previously untapped markets with a new product, the target audience doesn't usually know what the problem is so there is a need to define it (size, cost, impact, risk and opportunity) before there is any talk of solutions...this could broadly fit into the 'awareness building stage' from a marketing perspective and corresponds nicely with your sales funnel - where advertising and media relations spend would be most justified. (mostly marketing driven vs. sales)- The next segment could consist of prospects who know what the problem is but don't know where to find the solution. This broadly fits  the 'interest and desire' stages of your funnel and here the challenge is to position the product/service as the most appropriate channel/tactic to meet the customers needs. (marketing and sales working hand in hand) - The final segment could be prospects who've bought into the most appropriate channel/tactic to solve their problem and only need to find 'the best solution' i.e the choice of product/vendor. This is the 'action'/'close the deal' stage of your funnel where marketing pretty much hands over to sales.
  • As part of your planning process, you need to ensure you can answer these questions. Why? Because without understanding your customer, you cannot hope to define an effective marketing plan. Remember the definitions of marketing..“Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.”
  • Examine the core questionsImplement the planning frameworkLink your tactics to the sales funnelExecute your planMeasure successStart all over again...

Marketing Planning for Entrepreneurs Marketing Planning for Entrepreneurs Presentation Transcript

  • Marketing Planning for TEN
    Delivered by Andy Bargery
    September 2010
    Klaxon Marketing
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • Who is Andy?
    Director, Klaxon Marketing
    Strategy, communication, lead generation, outsourced
    Brands include: Oracle, lastminute.com
    Small business
    Associate Member of the CIM
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • What’s Marketing?
    “Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.”
    Chartered Institute of Marketing
    “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.”
    Kotler
    “The fundamental premise of 'marketing' is to understand customer behaviour, segment them by 'needs' and then define value propositions that would appeal to the most promising segments.”
    Girish Balachandran, Associate Director Ketchum Pleon
  • What’s Marketing?
    In practice...
    “Marketing is the management of acquiring targeted sales leads.”
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • Benefits of Planning
    Manage performance of your marketing
    Drive return on investment (ROI)
    Control your budgets
    Identify which tactics work
    Reduce your costs (and increase profits)
    Maintain sanity!
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • SOSTAC ®
    PR Smith framework for straight forward planning
    Situation
    Objectives
    Strategy
    Tactics
    Action
    Control
    • Where are we now?
    • Where do we want to get to?
    • How are we going to get there?
    • What’s actually going to happen?
    • When is it going to happen?
    • How will I know it’s been achieved?
  • SOSTAC ® in Practice
    1. Summary objectives and core strategy
    4. Assign a timeline to each tactic
    2. Define your tactics and steps required to execute
    3. Allocate a budget, measure of success, target leads and an owner
    5. Assess likely performance and align to marketing objectives
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • The Sales Funnel
  • Driving Sales Pipeline
    Marketing Tactics
    Advertising
    Media relations
    Website / SEO / Social media
    Events & Webinars
    Direct Mail
    Email marketing
    Case studies
    Telemarketing
    Product demos
    Sales call
    Sales collateral
    Hospitality
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • Don’t forget your customers
    Have you...
    • Defined the need or want your product will satisfy?
    • Distinguished target customer groups?
    • Identified decision makers & influencers?
    • Researched where your customers look for information?
    • Considered the barriers to trial?
    • Planned for their pain points?
  • Questions
    Who is Andy?
    What is marketing?
    Why plan?
    Is there a planning framework?
    Should you think about Sales?
    Are there other factors to consider?
    What should you do to get started?
  • Next Steps
  • Contact me
    Andy Bargery
    Director
    Klaxon Marketing
    Tel: +44 (0)20 7193 6627
    Email: andybargery@klaxonmarketing.co.uk
    Twitter: @abarge
    Blog: www.klaxonmarketing.co.uk