Loading…

Flash Player 9 (or above) is needed to view presentations.
We have detected that you do not have it on your computer. To install it, go here.

Like this presentation? Why not share!

Harris Media Direct Marketing Webinar 2010

on

  • 737 views

Harris Media Direct provides marketing planning and advertising expertise afforably for small to large companies!

Harris Media Direct provides marketing planning and advertising expertise afforably for small to large companies!

Statistics

Views

Total Views
737
Views on SlideShare
737
Embed Views
0

Actions

Likes
0
Downloads
9
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Harris Media Direct Marketing Webinar 2010 Harris Media Direct Marketing Webinar 2010 Presentation Transcript

  • Approaching Marketing Strategically
    Gayle Harris-Evans, Owner
    Harris Media Direct
  • Marketing – A Challenge For SMEs
    America has been through several economic hardships throughout the decades, and every time it happens, smart companies do their research to become more educated on how to come back stronger afterwards.
  • Marketing – A Challenge For SMEs
    Reactive to current crisis – not planned long term
    Limited resources - lack economies of scale
    Strong reliance on passive word-of-mouth for sales
    Focus on developing sales through new customers
    Limited awareness of what marketing really is
    Tendency to 'shot gun' promotional activity
    Limited market intelligence
  • According to the (SBA), the top 7 reasons that businesses fail:
    Start business for wrong reason
    LACK OF MARKETING (KNOW-HOW AND EXECUTION)
    Poor Management
    Insufficient Capital
    Location
    Lack of Planning
    Overexpansion
    4
  • What We’ll Cover Today
    Myths about marketing during a recession
    Why you should develop a marketing plan
    Identifying your target market(s)
    What Channels to use
    How you can measure/track the effectiveness of your marketing strategies
    Strategies for marketing in today’s environment
    2011 marketing trends
  • 8 Myths about Marketing in Economic Downturn
    #1: “Our brand is strong enough not to need support for the duration of the downturn.”
    #2: “If we cut back on marketing spending, we can use the money for other things internally, and increase the budget when things get better.”
    #3: “Nobody’s buying anything, advertising and promotions are a waste of money.”
    #4: “We can cut back on Marketing now, and then ramp up quickly when things get better.”
    6
  • 8 Myths about Marketing in Economic Downturn
    #5: “We should examine what’s working for us, and cut out everything else.”
    #6: “Marketing spends more money than any other department, they have the most room to cut budget.”
    #7: “All of our competitors are pulling back advertising and media expenditures to save money, so we should too.”
    #8: “We should downgrade the quality of our marketing materials, use a cheaper creative agency, and mail out less frequently to save money.”
    7
  • Marketing Planning: Why does it matter?
    Makes sure that all key players are on the same page
    Ensures that your team understands how they’re going to accomplish the bigger business goals
    Provides greater flexibility
    Generally confirms allocated funds
    Paves the way for great results
    Makes you proactive versus reactive
    Helps you identify cyclical and external factors
    Gives you an opportunity to think bigger
    8
  • Knowing Your Customers
    Everyone or Anybody might be potential customers for your product
    However, you probably do not have the time or money to market to Everyone and Anybody
    Hence the need to segment the market
  • Market Segmentation
    A market segment is just agroup ofpeople with common characteristics that set them apart as a group
    Women with household incomes of $75,000 or more who live in up market suburbs
    The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are most likely to purchase your offering
    If done properly this will help to ensure the highest return for your marketing/sales expenditure
  • Segmentation Focuses Marketing Effort
    There are numerous advantages to segmenting your market, such as:
    You can identify and specify the market
    You can estimate the market's potential size more accurately and evaluate its feasibility
    You can identify the specific needs of the market
    You can tailor your marketing mix exactly to fit the needs of the market
    You can reduce marketing costs by being more effective and more efficient
  • Target Marketing
    When a business has decided on the segments it wishes to concentrate its marketing activity on, we say it has decided on its target markets
    The more you know about a target market, the more precisely you can develop your marketing strategy to attract it to your product
  • How Many Ways Are There To Segment A Market?
    DEMOGRAPHIC: consumers grouped in terms of demographics - sex, religion, age, nationality etc. Popular because the data is more easily obtained and the measurements based upon these criteria easy to interpret.
    GEOGRAPHIC: consumers grouped by location - country, region, city, neighbourhood etc. Before segmenting geographically, a company must decide where it intends to market products.
    BEHAVIOURAL: consumers defined by the ways in which they use a product or perceive its benefits. Behavioural segmentation may include several categories such as benefits, loyalty, attitudes and so on.
    PSYCHOGRAPHIC: Consumers grouped upon lifestyle characteristics such as interests, opinions and activities.
    BENEFIT: Consumers categorized by the benefits they seek from a product.
    ORGANIZATION: B2B customers grouped according to business characteristics such as size of organization, industry or focus, level of technology, etc.
  • Different Strokes For Different Folks
    Customizing your product/service offering and your communication to be appropriate to each segment’s needs is the single most effective marketing strategy
    There is substantial evidence to show that businesses that take account of their market segments in this way are more likely to be successful
    But only focus on a manageable number of segments to avoid overstretching your resources
  • Competitor Research
    What are their product's strengths and weaknesses - are there weaknesses you can exploit?
    What are the differences between your product’s features/benefits and theirs?
    What is their pricing structure?
    Where do they promote their products?
    What is their advertising message?
    What is their positioning (profitability, market share, leadership)?
  • Customer Research
    Knowing how customers think about you and your business can provide vital strategic intelligence
    Two ways to tune in to customer views:
    Customer surveys
    A customer advisory board
  • Business And Consumer Markets Are Different
  • Personal Relationships Are Important To B2B Marketing
    You need to develop personal relationship in B2B marketing
    Where the number of buyers is small, their needs complicated and their decision making process influenced by many people, the most effective way of marketing is through personal contact to build trust and understanding
  • B2B Market Research
    When you deal B2B you need to take the peculiarities of the B2B marketplace into account and develop a marketing strategy that answers to them
    Start by segmenting your current customers:
    If you can identify groups with similar characteristics, then you can develop products and services according to their needs
    You can also customize your marketing to each so as to concentrate on what is of interest to them personally and what they want from a supplier or a product.
    Marketing to segments is more efficient and less costly than a shotgun approach
  • Segmenting B2B Customers / Prospects
    Location
    How much they spend with you and their spending pattern – how many orders and how valuable they are on average
    Needs (price, quality, technical support etc.)
    How they position themselves in the marketplace
    • What trade associations do they belong to?
    • How they use the product
    • Annual revenue
    • How do they place their orders with you?
    • How loyal are they to you?
  • The Small Business Advantage
    Smaller companies have certain advantages when it comes to building B2B relationships, they can often be more flexible than larger companies in delivering customized products
    In small companies, top management is available to deal directly with clients, so strategic business issues can be discussed and resolved in a direct and forthright way
  • Deciding On Channels To Use
    Main promotional channels:
    Advertising
    Public relations and publicity
    Direct marketing
    Promotions and events
    Product marketing materials
    Sales force
  • Make Your Website A Marketing Tool
    To achieve this you need to consider two main things:
    Is your website easily findable through web search engines?, and
    Does it provide the range of information on the site that would make it of interest to a customer regardless of where they are up to in the buying process?
  • Making Your Website Findable
    The Internet is becoming increasingly used for searching supply sources
    To come up in the near front pages of search results you need to optimize your web pages for location
    You need to be seen as a resource to the industry and prospects. Blogs, articles, info and news
  • Social Media
    Small business has gained a competitive edge in reaching customers by using social media.
    Effective management of social media offers an inexpensive way to engage with potential customers.
    Businesses are able to increase visibility of their services and products through low-cost or no-cost channels. 
    They are able to conduct online research and solicit customer opinions.
    Marketing through social media is time consuming, but it's beneficial to business success.
    25
  • Measuring Marketing Success
  • Achieving results with Marketing
    Focus—be concise with what you are trying to accomplish
    Facilitation—Make it easy for someone to understand the message
    Forecast—Have some sort of ROI calculation
    Frequency—one of the most overlooked marketing principles around
    Flexibility –Always strive to continue learning
    Fact-Finding—Gather as much information about your clients and prospects as possible
    Follow-up—after the advertisement/message was received
    27
  • Strategies for Marketing in a Recession:
    Marketers must maintain steady levels of advertising at the risk of disappearing from consumers’ radar and being swept away by customers.
    During tough times you have to represent yourself as what your brand is: strong and the best option in the market.
    According to a study by the American Marketing Association, 60% of respondents believe that reducing or stopping the spending on key programs is the biggest marketing mistake that could be made during a recession.
    Respondents also said that their biggest internal challenge during an economic downturn is demonstrating the value of marketing amid declining sales.
    28
  • Strategies for Marketing in a Recession:
    Extending existing campaigns may be a better strategy than creating new campaigns.
    Marketers will find opportunity to gain momentum when competitors cut their budgets and there is less category clutter.
    This is a time for companies to make sure that they are the best stewards of their resources, by spending appropriately and looking for the greatest possible return on spending.
    This means staying the course, but also not being afraid of strategies that are new and different in an effort to gain market share.
    29
  • Marketing Trends for 2011
    Transparency and trust are paramount
    Less interruption, more enhancement and value-add
    Speaking of value
    Show it, don’t tell it
    Social Media is not going away, and engagement is critical
    Peace-of-mind messages prevail
    Relationships rule
    Online video and mobile marketing are hot
    Focus, focus, focus
    Integrated marketing trumps stand-alone tactics
    30
  • Conclusion
    A business can survive for some time with poor records, insufficient finance or a lack of management skills, but it can't last long without a market
    Only a strategic approach to marketing based on good knowledge of your own product, your customers and your competitors, will ensure you maximize returns on your marketing spending
    Thank you to ROCG Americas for partnering on this Webinar and providing this information in conjunction with Harris Media Direct!
  • 32
    Thank you! Contact us to find out more about how we can help leverage your marketing dollars for less!
    11473 Lakeshore Drive
    Plainwell, MI 49080-9201
    (616) 206-3143
    Look me up on LinkedIn:
    Gayle Harris-Evans
    Become a fan:
    Harris Media Direct