The Art & Science of Marketing 6120 W. Bell Road Suite 100 Glendale, AZ 85308 602.374.4923 [email_address] MarketingwithaFlair.com

What does it take to develop an effective B2C strategy? Defining and Reaching Your Ideal Target Audience

How many of you have ever invested in advertising that yielded zero results? Tell us about your experience... It never feels good to waste money on efforts that produce no results.

How many of you have ever invested in advertising that yielded zero results?

Tell us about your experience...

It never feels good to waste money on efforts that produce no results.

Agenda About Marketing with a Flair Today we will discuss three primary topics Accurately identifying your target audience The value of researching your audience Marketing is NOT advertising This is an interaction where we can all learn from each other so ask questions and share ideas.

About Marketing with a Flair

Today we will discuss three primary topics

Accurately identifying your target audience

The value of researching your audience

Marketing is NOT advertising

This is an interaction where we can all learn from each other so ask questions and share ideas.

Marketing with a Flair Marketing with a Flair, Inc. is a results-oriented, comprehensive marketing firm specializing in strategic planning, public relations and advertising providing innovative solutions with measurable results. We are the only agency offering industry exclusivity for retainer clients. Marketing with a Flair is ranked #1 in Advertising for nine or fewer employees by Ranking Arizona: The Best of Arizona Business 2008.

Marketing with a Flair, Inc. is a results-oriented, comprehensive marketing firm specializing in strategic planning, public relations and advertising providing innovative solutions with measurable results. We are the only agency offering industry exclusivity for retainer clients.

Marketing with a Flair is ranked #1 in Advertising for nine or fewer employees by Ranking Arizona: The Best of Arizona Business 2008.

Alphabet Soup B2B b usiness- to - b usiness, term commonly used to describe commerce transactions between businesses B2G b usiness- to - g overnment , the exchange of services, information and/or products from one business to a government agency B2B B2G C2C G2B G2C B2C

B2B

b usiness- to - b usiness, term commonly used to describe commerce transactions between businesses

B2G

b usiness- to - g overnment , the exchange of services, information and/or products from one business to a government agency

B2B

B2G

C2C

G2B

G2C

B2C

Alphabet Soup C2C c onsumer- to - c onsumer , the exchange of services, information and/or products with electronically-facilitated transactions such as eBay or Craigslist G2B g overnment- to - b usiness is the online non-commercial interaction between local and central government and the commercial business sector, rather than private individuals

C2C

c onsumer- to - c onsumer , the exchange of services, information and/or products with electronically-facilitated transactions such as eBay or Craigslist

G2B

g overnment- to - b usiness is the online non-commercial interaction between local and central government and the commercial business sector, rather than private individuals

Alphabet Soup G2C g overnment- to - c itizen is the online non-commercial interaction between local and central government and private individuals, rather than the commercial business sector. Improving e-government service delivery performance B2C b usiness- to - c onsumer , the exchange of services, information and/or products from a business to a consumer

G2C

g overnment- to - c itizen is the online non-commercial interaction between local and central government and private individuals, rather than the commercial business sector. Improving e-government service delivery performance

B2C

b usiness- to - c onsumer , the exchange of services, information and/or products from a business to a consumer

Accurately Identifying Your Target Audience Spending time, energy and effort communicating to the wrong audience or providing the wrong message can be expensive. Who is your target audience ?

Spending time, energy and effort communicating to the wrong audience or providing the wrong message can be expensive.

Who is your target audience ?

The general public is not a target audience Salon Plumbing Dental

Salon

Plumbing

Dental

Accurately Identifying Your Target Audience While identifying your target audience remember to... Think strategically in terms of how your product or service can benefit your target market Don’t focus on yourself or your company Write down all the benefits of a particular product of yours.

While identifying your target audience remember to...

Think strategically in terms of how your product or service can benefit your target market

Don’t focus on yourself or your company

Write down all the benefits of a particular product of yours.

What’s in it for me? What can your product or service do for someone or how does it make them feel when they use it? Car Dealership – they sell the lifestyle Starbucks – they sell relationships Hair Products – they sell “feeling good” Childcare – they sell peace of mind

What can your product or service do for someone or how does it make them feel when they use it?

Car Dealership – they sell the lifestyle

Starbucks – they sell relationships

Hair Products – they sell “feeling good” Childcare – they sell peace of mind

What’s in it for me? People buy your products. So find out what needs they solve or how they make people's lives better.

People buy your products. So find out what needs they solve or how they make people's lives better.

Define and refine your audience through segmentation Market segmentation is the identification of portions of the market that are different from one another. Segmentation allows you to better satisfy the needs of your target audience.

Market segmentation is the identification of portions of the market that are different from one another.

Segmentation allows you to better satisfy the needs of your target audience.

Determining Your Market Segments 1. Identifiable The differentiating attributes of the segments must be measurable so that they can be identified example : wears glasses, mothers of children under 5 2. Accessible The segments must be reachable through communication and distribution channels example : Optometrist or Ophthalmologists, malls, mailing list or Mom’s clubs, blogs, preschools, churches

1. Identifiable

The differentiating attributes of the segments must be measurable so that they can be identified

example : wears glasses, mothers of children under 5

2. Accessible

The segments must be reachable through communication and distribution channels

example : Optometrist or Ophthalmologists, malls, mailing list or Mom’s clubs, blogs, preschools, churches

Determining Your Market Segments 3. Substantial The segments should be sufficiently large to justify the resources required to target them example : single parents working nights; women in their first trimester of pregnancy; those who wear size 6 wide work boots 4. Durable The segments should be relatively stable to minimize the cost of frequent changes example : with the Internet, this is not as much of an issue, however, with fads – it comes more into play

3. Substantial

The segments should be sufficiently large to justify the resources required to target them

example : single parents working nights; women in their first trimester of pregnancy; those who wear size 6 wide work boots

4. Durable

The segments should be relatively stable to minimize the cost of frequent changes

example : with the Internet, this is not as much of an issue, however, with fads – it comes more into play

Segment Characteristics Geographic Demographic Psychographic Behavioralistic

Geographic

Demographic

Psychographic

Behavioralistic

Segment Characteristics Geographic Continent Country State Neighborhood (i.e. Peoria, South or North Peoria) Community (i.e. Vistancia, Sonoran Mountain Ranch)

Continent

Country

State

Neighborhood (i.e. Peoria, South or North Peoria)

Community (i.e. Vistancia, Sonoran Mountain Ranch)

Segment Characteristics Demographic Age Gender Family size Family lifecycle Income Generation (i.e. baby boomers, Generation X, etc.) Occupation Education Ethnicity Nationality Religion Social class

Age

Gender

Family size

Family lifecycle

Income

Generation (i.e. baby boomers, Generation X, etc.)

Occupation

Education

Ethnicity

Nationality

Religion

Social class

Segment Characteristics Psychographic Activities horse back riding, bowlers, people who adventurous Interests philanthropic Opinions Democrat, Republican Attitudes pro-life, pro-choice, need for status Values spiritual, attends church

Activities

horse back riding, bowlers, people who adventurous

Interests

philanthropic

Opinions

Democrat, Republican

Attitudes

pro-life, pro-choice, need for status

Values

spiritual, attends church

Segment Characteristics Behavioralistic Benefits sought Usage rate Brand loyalty User status: potential, first-time, regular, etc. Readiness to buy Occasions: holidays and events that stimulate purchases (i.e. weddings, graduation, birthday)

Benefits sought

Usage rate

Brand loyalty

User status: potential, first-time, regular, etc.

Readiness to buy

Occasions: holidays and events that stimulate purchases (i.e. weddings, graduation, birthday)

The value of researching your audience – PRICELESS Mapping the ‘typical’ decision-making process for your product or service What do you think would be the most important aspect to the decision-making process for an automotive repair facility?

Mapping the ‘typical’

decision-making process

for your product or service

What do you think would be the most important aspect to the decision-making process for an automotive repair facility?

Qualitative vs. Quantitative Qualitative research is better for exploring, understanding, and uncovering, while quantitative research is better for confirming and clarifying.

Qualitative research is better for exploring, understanding, and uncovering, while quantitative research is better for confirming and clarifying.

Qualitative vs. Quantitative Qual itative or Qual ity – which can often be described as focus groups – deals with descriptions. This data can be observed, but not measured. Quant itative or Quant ity – which is often in the form of surveys – addresses the numbers and data, which can be measured.

Qual itative or Qual ity – which can often be described as focus groups – deals with descriptions. This data can be observed, but not measured.

Quant itative or Quant ity – which is often in the form of surveys – addresses the numbers and data, which can be measured.

Why the proper research isn’t expense. The overall objective of market research is to gain a better understanding of the motivations, decision process and ‘trigger points’ among key customer segments regarding their use of your product or service.

The overall objective of market research is to gain a better understanding of the motivations, decision process and ‘trigger points’ among key customer segments regarding their use of your product or service.

Free or low-cost research methods www.surveymonkey.com www.questionpro.com www.zoomerang.com www.freeonlinesurveys.com www.bzoink.com for MySpace, Facebook, Livejournal, xanga www.polldaddy.com

www.surveymonkey.com

www.questionpro.com

www.zoomerang.com

www.freeonlinesurveys.com

www.bzoink.com

for MySpace, Facebook, Livejournal, xanga

www.polldaddy.com

What first comes to mind when I say marketing? Most small business owners think of only advertising but it’s so much more. Marketing Is Not Advertising

Most small business owners think of only advertising but it’s so much more.

Marketing Is Not Advertising

M&Ms – aka Marketing Mix Product Price Placement or distribution Promotion (includes advertising)

Product

Price

Placement or distribution

Promotion (includes advertising)

M&Ms – aka Marketing Mix Product What makes your product or service different or better than your competitors? What is your Unique Selling Proposition (USP)? Do your advertising vehicles sound the same as everyone else’s? Does your ad copy message reflect your USP? Are you selling your product or service on its benefits?

What makes your product or service different or better than your competitors?

What is your Unique Selling Proposition (USP)?

Do your advertising vehicles sound the same as everyone else’s?

Does your ad copy message reflect your USP?

Are you selling your product or service on its benefits?

M&Ms – aka Marketing Mix Price What is your pricing strategy? Sell on value and skim by being the highest priced for your product and service? Or are you the lowest priced and going for volume?

What is your pricing strategy?

Sell on value and skim by being the highest priced for your product and service?

Or are you the lowest priced and going for volume?

M&Ms – aka Marketing Mix Placement or distribution What options exist for educating your audience that your product or service is available? How do you get your product or service to your audience? Who else targets your same audience? Preschool partnering with Creative Memory consultants Urgent care facility working with local pharmacies

What options exist for educating your audience that your product or service is available?

How do you get your product or service to your audience?

Who else targets your same audience?

Preschool partnering with Creative Memory consultants

Urgent care facility working with local pharmacies

M&Ms – aka Marketing Mix Promotion - Advertising Paid You have control You are in charge Unpaid (Publicity) No control over key messages No guarantee of coverage Increased credibility because it is part of the news

Paid

You have control

You are in charge

Unpaid (Publicity)

No control over key messages

No guarantee of coverage

Increased credibility because it is part of the news

Did we accomplish today’s goals? Do you feel more confident in: Accurately identifying your target audience Understanding the value, need and resources for researching your audience Marketing to your audience is different than advertising

Do you feel more confident in:

Accurately identifying your target audience

Understanding the value, need and resources for researching your audience

Marketing to your audience is different than advertising