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Virginia Franchise Forum - Franchisee Roundtable Nov 11, 2009

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Presentation given to Franchise Business Owners In Richmond Virginia which was sponsored by the Greater Richmond Chamber of Commerce. Title: Moving From Survival To Growth

Presentation given to Franchise Business Owners In Richmond Virginia which was sponsored by the Greater Richmond Chamber of Commerce. Title: Moving From Survival To Growth

Published in: Business, News & Politics

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  • Total US Ad Spend in $300 Billion
  • Transcript

    • 1. Virginia Franchise Forum Franchisee Roundtable
      Presented by Kate Dunn,Digital Innovations Group (DIG)
    • 2. Agenda
      Current state of your marketing
      5 Step Plan to Improve Results and Position Your Company for Growth
      Examples
      Questions
    • 3. Moving From Survival To Growth
      Recession Mode
      Downsized
      Reduced hours
      Reduced non critical expenses
      Marketing
      Treading water
    • 4. Let’s Talk About Marketing
      Only 15% of short term sales are the result of today’s marketing
      Today’s marketing initiatives drive 85% of long term sales
      Source: What Sticks: Why Most Advertising Fails and How to Guarantee Yours Succeeds, by Rex Briggs, Greg Stuart
    • 5. But…
      Business to Business
      “We don’t have the budget.”
      Business to Consumer
      “We don’t have the money.”
    • 6. Reverse Logic
      Business to Business
      “Wow, so you’re closing up shop? Who is going to provide cleaning services to your clients now?”
      Business to Consumer
      “Wow, so you’re moving in with friends or relatives?”
    • 7. The Real Meaning
      For both
      “You have not made what you are selling a priority for me.”
    • 8. Really Good News
      “19% of advertising fails outright and 67% could achieve significant improvement that would require no additional spending.”
      Why Do We Miss the Mark?
      Aren’t talking to the right prospects
      Targeting the wrong audience
      Don’t understand the motivations of our prospects
      Irrelevant messaging
      Don’t know how to reach our prospects
      Marketing Mix – VeriSign found that 10% of spend drove 98% of actions they wanted
      Don’t know who is serious
      Qualification - 80% of all deals are lost due to a in adequate or non-existent qualification process.
      ES Research Group Study
    • 9. Most Glaring Mistakes
      We aren’t remarkable
      If we are we don’t tell anybody
      Author: Seth Godin
    • 10. Basic Principles of Purple Cow
      Be Remarkable
      If your not, get out
      "Quit or be exceptional. Average is for losers.” Seth Godin, The DIP
      Purple Cows will be talked about
      WOM advertising is cheap
    • 11. 5 Step Action Plan for Growth
      Step 1: Answer these questions:
      What is your company the best at ________?
      Why is your company the best at it?
      Who needs what your are best at?
      How long will they need it?
    • 12. Step 2:
      Start with what you think and then validate with your current customers
      Competitive Advantages
      Must be unique
      Must be quantifiable
      Must be sustainable
      So are they?
      By Jaynie L. Smith
    • 13. Visiting Nurses Association of Florida
      Competitive Advantages
      Management had the wrong understanding
      They did not understand what customers thought was important
      Developed a list of quantifiable things
      Told people what they were
    • 14. Best Competitive Advantage EVER!
      VNA’s patients are re-hospitalized 23% less than the competition
      Patients visited by VNA require emergency treatment 34% less often the those visited by competitors
      VNA’s patients improve 34% faster than the national average
      VNA’s incidence of unexpected death is 47% lower than the national average
    • 15. Step 3: Accentuate the Positive
      How can I get my existing customers to talk about my company?
      Look for mavens and connectors to find your Tipping Point
      The Tipping Point by Malcolm Gladwell
    • 16. How Do You Find Them?
      Ask happy customers when it is logical to ask
      Investigate who is talking now?
      Blogging
      On Linked In
      Twitter
      Facebook
      Engage the happy ones first
    • 17. Business to Consumer
    • 18. Get People To Talk About You
      Thumbs Up
      Hustling Outback Kid
      Arby’s Midlothian Turnpike, End on a High Note teen
      Gloria at the Origins Counter
      Thumbs Down
      “McDonalds Drive By People”
      Companies who don’t handle a negative
    • 19. A Big Mistake
      Pay Attention
      Fixing a problem is better for you then not knowing there is a problem!
    • 20. # 1 Prospecting Method is Referrals
      84% of internal referrals will result in appointments
      44% of external referrals will result in appointments
      No More Cold Calling by Joanne Black
    • 21. Step 4: Develop Your Own Following
      Consider positioning yourself as an expert in your field
      Create own content
      Blog
      Slideshare
      You Tube
      Comments on other blogs and communities
      If you aren’t a writer, share content from others with your introduction
      Google Alert Yourself!
    • 22. Google Alert – Free!
    • 23. Social Media Success Factors
      Position yourself as a resource
      Share your knowledge first
      Avoid overt selling
      Recognize that this tactic has a longer horizon
      Be consistent
    • 24. # 5 Review Your Other Tactics
      Yellow Page Ads/Radio Ads
      Use a unique URL or phone number to measure results from your tactics
      Direct Mail
      Differentiate in compiled mailings or get out
      Direct Marketing Success
      40% from the list
      40% from the offer
      10% from the timing
      10% from CREATIVE!!!!
    • 25. # 5 Review Your Other Tactics
      Print Advertising
      With longer sales cycles, use landing pages to learn from the interaction and nurture interest
      With shorter sales cycles, provide ways for recipient to show they may have future interest
      Tip Lists etc.
      Promotions
      Don’t buy the business over and over
      Measure lifetime value or share of customer
    • 26. Blue Tape - San Antonio, Texas
      Recipient Personalization
      Offer – Everybody Wins!
      Versioned Copy
      Contact Personalization
      Personalized URL
      PODi Best Practice
    • 27. Landing Page
      Qualifying Question
      PODi Best Practice
    • 28. Respondent Information Page
      Pre-populated contact info. Additional info captured!
      Capture Email Address
      PODi Best Practice
    • 29. Page Two – Versions based Question One Answer
      Versioned Pages Based on Answer to Question One
      PODi Best Practice
    • 30. Final Qualifying Question
      Versioned Copy Based on Answer to Question One
      Respondent Requests Meeting
    • 31. Versioned Thank You Pages
      Education for Nurturing
      Data collection
      Data collection
      Relationship Building
    • 32. Results
      4.45% Response Rate
      Hit Landing Page
      3.34% Conversion Rate
      Completed URL Visit
      27% of respondents requested a meeting to discuss relevant marketing
      First tier prioritized prospects
      56% of respondent use direct mail now
      Second tier prioritized prospects
      29% of respondents were non customers
      Direct Market Association quotes response rates at 1.38% which is a 222% Improvement
    • 33. Next Steps:
      Find a place to hide and answer questions 1 – 5
      Devote a 30 minutes to watching and learning from social media over the next two weeks so you can start to formulate a strategy for your company
      Read or Listen to:
      Purple Cow, The Dip
      Creating Competitive Advantage
      The E-Myth Re-visisted
      Make sure you tell prospects exactly why they should buy from you every time you talk to them
    • 34. Lastly and Most Importantly
      • Get help if you need it.
      • 35. If you aren’t out of business you are still spending money so spend it wisely and earn a better return.
      • 36. Look for continuous improvement not just homeruns.
      • 37. Waiting until the end of the recession may mean you don’t make it out of the recession.