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Master your marketing PNC talk 19 September 2013
 

Master your marketing PNC talk 19 September 2013

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How to develop compelling marketing that achieves your sales goals and is matched to your strategic goals.

How to develop compelling marketing that achieves your sales goals and is matched to your strategic goals.

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    Master your marketing PNC talk 19 September 2013 Master your marketing PNC talk 19 September 2013 Presentation Transcript

    • Presented by: Ethan Chazin President The Chazin Group Master Your Marketing
    • What’s a “PRODUCT”
    • Know Your Customers
    • Align Your Marketing, Sales & Business Strategies for Success.
    • Aligning Goals Your Business Goals Your Marketing Goals Increase market share By 15% this year. Increase sales to existing clients by 20%. Acquire 2 competitors with combined 10-15% market share. Acquire 400 new clients. Discontinue 30% of your existing product portfolio. Launch minor league baseball advertising campaign. Form 3 strategic partnerships. Integrate outdoor ad campaign in Central/No. NJ
    • Aligning Goals MARKETING’s YEAR-LONG “THEME” CATEGORY STRATEGIES Target Market Positioning Statement Offering to customers Price Strategy Distribution Sales Strategy Service Strategy Promotion Strategy Marketing Research Any other component of your marketing plan
    • 5Ps Meet 2Is: Individualization & Interactivity
    • • MASS CUSTOMIZATION means you have the ability to send out customized communications with MANY of your customers simultaneously. • Your customers decide how much interaction they have with you through: – Social media – User forums/online user communities – Chat & Messaging – Email – Website contacts Individualization
    • • The extent/amount of 2-WAY communication between your customers and you. • The Internet gives your customers the power to engage with you in a way never previously permitted. • Shift from broadcast 1-WAY dialog (TV & radio) to an interactive marketing dynamic which fosters debate, exchanges, and… …CONVERSATION! Interactivity’s New Paradigm
    • Kinds of Product
    • What’s a “PRODUCT”
    • • Core Product Benefit: most basic value offered by your products. • Basic/Actual: minimum product offering needed to deliver your core benefit. • Augmented: Features that go beyond your customer’s basic expectations. What’s a “PRODUCT”
    • Customer Needs
    • • STATED: inexpensive car. • REAL: car with LOW operating cost. • UNSTATED: good service. • DELIGHT: include a cool GPS system. • SECRET: your friends see you as a cool and savvy consumer. 5 Needs
    • Pareto Lives
    • 3 Types of Client Mercenary (87) Loyalist (10) Raving Fan (3)
    • 4 Stages of the Customer Relationship Model
    • The Relationship
    • You need different skills at different stages of the sales process.
    • The Sales Process Prospect Marketing Skills Sale Solution Selling Skills Repeat Customer Service Skills Apostle Relationship Skills Know Your Customers
    • • Customer relationships increase your profitability 3 ways: – It costs less to service existing clients than to generate new ones. – Existing clients are willing to pay a higher price for your products and services. – Strong buyer-seller relationships increases the likelihood that customers will share their personal information which can help you customize offerings and sell more effectively to them. Value in Relationships
    • • Define the “expected” lifetime value of your customer. • The PARETO Principle matters. • You MUST have a database of past customer purchases. • A profitable/unprofitable client today is an unprofitable/profitable one tomorrow. • Consider how many referrals they give you. RFVP: Recency, frequency, volume & profit. Determine Customer Value
    • Know Your Customers • Goal: Identify and Study Your Top 20: – Create a Profile To Match Your Top 20 – Use the RFVP Profile: • Recency Of Them Doing Business With You • Frequency of Them Doing Business With You • Volume of Business They Do With You • Profit They Contribute (conduct an ROI)
    • What’s a “Brand?”
    • Is a Brand a PROMISE?
    •  Memorable  Invaluable  Unique
    • Brands Matter
    • • Reduces the cost associated with searching for products internally (how much to think about them) and externally (how much to look for them.) • Define product/service qualities. • Present product/service characteristics. • Chance to “connect” with product maker. • Sign of “perceived” quality…PRESTIGE. • Help consumers organize their knowledge about a product to clarify their decision-making and thus adds value to firms. Brands Matter
    • • Savvy customers. • Brand proliferation. • Media fragmentation: – Cost – Clutter: 10-15 second spots join :30 & :60 spots – Fragmentation: Growth of independent stations & cable – Technology: VCRs, Remote controls, TiVo • Increased competition. • Increased costs. • Greater accountability by marketers to hit short-term profit goals. Branding Challenges
    • • You achieve different outcomes from the “added value” attributed to a product as a result of marketing the brand. • You can create value for the brand in many different ways. • Brand equity provides a common denominator for interpreting marketing strategies and assessing the value of a brand. • There are many different ways in which the value of a brand can be exhibited or exploited to benefit the firm. Brand Equity
    • 31 The Chazin GroupSeek New Markets
    • 32 • How Long Does It Take to Follow Up on a Lead? Set a Company Policy. • Ask All Leads: How Did You Hear About Us? • Assign Campaign Reference Codes. • Use Unique Tel #s For Each Campaign to Track Results. • Utilize a Lead Capture/Management System. • Custom Landing Pages. The Chazin GroupProspecting
    • 33 • Develop a Strategic Networking Plan For Identifying, Engaging and Converting Prospects. • Create a BEST Customer Profile. • Launch a “Give to Get” Referral Strategy. The Chazin GroupSeek New Markets
    • 34 Where Are Your Referrals? The Chazin Group
    • 35 • For Small Businesses New Business Comes One of 3 Ways:  50% from existing clients  35% are referrals from existing customers  15% from advertising efforts 85% of your NEW business comes from EXISTING business The Chazin GroupPower of Referrals
    • Reward, Recognize, Retain Your Top Clients
    • • Thank them. • Give gifts. • Discounts, coupons, special offers. • Honor outdated returns. • Encourage desired behavior. • Customer “Spotlights.” • Waive outstanding balances. The Chazin GroupReward Them
    • • Maintain a robust database. • Keep in touch. • Encourage complaints. • Offer loyalty programs. • Do an amazing job! The Chazin GroupClient Retention
    • • Create Action Plan to Develop Apostles: – Conduct needs assessment – Develop set of CUSTOMIZED solutions – Convince client to implement your recommendations – Review annually – Target 12 Gain Apostles
    • • 3 Steps to Gain Apostles: – Write down your apostles. – Say what it takes to keep them. – Define a list of clients to convert to apostles: • 2X the Actual # Current Apostles • Follow Actions From Previous Step • Convert 50% Per Year Until Magic 12 Gain Apostles
    • • Learn Your Prospect/Client’s Top Pain Points • What Challenges Do They Face • Deliver Value at Every Stage of the 4-Step Sales Process • Exceed Their Wildest Expectations • Empower Every Employee to do the Same • Account Penetration Strategy • Create Policy of “Standards of Care” Sales Success
    • • Follow Your Customer Conversations Online. • Align Sales, Marketing, & Product Management. • Touch Them Several Ways. • Focus Your Presentations in Their Problems. • Become More Visible: – Attend Events, Trade Shows & Conferences – Get Published & Interviewed – Blog, Blog, Blog, Blog, blog, Blog, Blog – Serve on Roundtables & Panels – Engage In Social Media Sales Success