Guerrilla Marketing Keynote - American American Rental Association

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10 Principles of Guerrilla Marketing presented by international speaker and author Orvel Ray Wilson for the American Rental Association "Tents & Events" convention and trade show in Las Vegas, 2013

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Guerrilla Marketing Keynote - American American Rental Association

  1. 1. Guerrilla Marketing Tactics for theRental IndustryOrvel Ray Wilson, CSPSenior PartnerTHE GUERRILLA GROUPincGoogle me! THE GUERRILLA GROUPinc
  2. 2. It’s a Jungle Out There! THE GUERRILLA GROUPinc
  3. 3. It’s a Jungle Out There! •Economic Uncertainty THE GUERRILLA GROUPinc
  4. 4. It’s a Jungle Out There! •Economic Uncertainty •Ruthless Competition THE GUERRILLA GROUPinc
  5. 5. It’s a Jungle Out There! •Economic Uncertainty •Ruthless Competition •Demanding Customers THE GUERRILLA GROUPinc
  6. 6. It’s a Jungle Out There! •Economic Uncertainty •Ruthless Competition •Demanding Customers •Pressure on Prices and Margins THE GUERRILLA GROUPinc
  7. 7. If you’re going to be texting: •I’m here at #ARA listening to #OrvelRay Wilson speaking about Guerrilla Marketing and it’s fantastic. THE GUERRILLA GROUPinc
  8. 8. What is Marketing? •Marketing is a Circle THE GUERRILLA GROUPinc
  9. 9. 10 Most Common Mistakes Made inMarketing THE GUERRILLA GROUPinc
  10. 10. 1. Assuming You Dont Have to Market •Every business must market constantly, aggressively, or fail. THE GUERRILLA GROUPinc
  11. 11. 2. Assuming You Need Big Money to Market •Guerrilla Marketing lists 100 marketing weapons, and 50 of them cost you nothing. THE GUERRILLA GROUPinc
  12. 12. 3. Improper Targeting •“Narrowcast” –Message in a bottle •Advertise to remind rather than to impress. THE GUERRILLA GROUPinc
  13. 13. 4. Confusing Image with Identity •Customers recognize and appreciate the truth. •Show up THE GUERRILLA GROUPinc
  14. 14. 5. Undervaluing the Product •Be competitive, even aggressive, but dont give products or services away •Customers will not place value on your service unless you do. THE GUERRILLA GROUPinc
  15. 15. 6. Incomplete Customer Feedback •Follow up every rental after several days •Ask everyone, “How are we doing?” and “How could we improve?” •Take every suggestion seriously. THE GUERRILLA GROUPinc
  16. 16. 7. Failure to Set Specific Marketing Goals •Expect a specific rate of return on your marketing investment •Be clear about your goals and track your response rates. THE GUERRILLA GROUPinc
  17. 17. 8. Insufficient Information •Put the “5 Ws” up front •Then use enough ink to tell your whole story, so your customers can make an informed decision. THE GUERRILLA GROUPinc
  18. 18. 9. Failure to Develop Strong Vendor Relationships •Don’t always go with the lowest bid THE GUERRILLA GROUPinc
  19. 19. 10. Changing Too Soon •By far the most common, and the most expensive mistake •Don’t let well-meaning friends persuade you to change THE GUERRILLA GROUPinc
  20. 20. How is Guerrilla Marketing Different? 1. Time, Energy and Imagination 2. Psychology instead of guesswork 3. Profit is the only yardstick 4. Strictly geared to small business 5. Removes the mystique THE GUERRILLA GROUPinc
  21. 21. How is Guerrilla Marketing Different? (cont..) 6. Cooperation vs. competition 7. Go for the relationship 8. Marketing combinations work 9. Use as many weapons as possible THE GUERRILLA GROUPinc
  22. 22. 10 Principles of Guerrilla Marketing THE GUERRILLA GROUPinc
  23. 23. 1. Investment •The Law of the Slight Edge: “The difference between a champion and an also-ran, more often than not, is a very slim margin.” THE GUERRILLA GROUPinc
  24. 24. 1. Investment •People •Technology •Yourself •Your Community THE GUERRILLA GROUPinc
  25. 25. Invest in People • Hire first for Attitude –Jack Welsh 20/70/10 • Train Constantly –Tap your manufacturers • Resource Center • Outside Seminars • Outside Expertise THE GUERRILLA GROUPinc
  26. 26. Invest in Technology •Digital Video –Shoot every installation •Wireless POS •SEO •QR Codes THE GUERRILLA GROUPinc
  27. 27. Invest in Yourself •Knowledge, Skills and Attitude •Join Professional Groups •Master Mind Group •Build Your Library –Trade magazines THE GUERRILLA GROUPinc
  28. 28. 2. Consistent •“Poor marketing done consistently will be more effective than great marketing done sporadically.” •Consistency is interpreted as longevity, credibility, and trust. THE GUERRILLA GROUPinc
  29. 29. “I’ll tell you why I don’t trust him. It’s that damn sheepskin vest.”
  30. 30. 5 Things Every Customer Needs •Welcome •Comfortable •Important •Understood •Appreciated THE GUERRILLA GROUPinc
  31. 31. The Need to Feel Welcome THE GUERRILLA GROUPinc
  32. 32. “The terrorist barriers seem to be working.”
  33. 33. The Need to Feel Welcome •Greet at the Door •Never ask, “May I help you?” •Smile first •Maintain eye contact THE GUERRILLA GROUPinc
  34. 34. The Need to Feel Comfortable •Offer refreshment •Offer your name •Remember theirs THE GUERRILLA GROUPinc
  35. 35. The Need to Feel Important •Ask LOTS of questions –“The 37 Magic Selling Questions” •Listen •Use Verbal Attends •Get then in the store •Never make them wrong or stupid THE GUERRILLA GROUPinc
  36. 36. The Need to Feel Understood •Avoid “Tech-talk” •Use signposting to match their criteria •Ask, “Is this what you had in mind?” THE GUERRILLA GROUPinc
  37. 37. The Need to Feel Appreciated 24 hours 7 days 30 days 6 months Annually thereafter The Rule of 10% THE GUERRILLA GROUPinc
  38. 38. 3. Confident •“Guerrillas believe in their products and their people.” THE GUERRILLA GROUPinc
  39. 39. Why Customers Buy From You Confidence Quality Service Selection Price THE GUERRILLA GROUPinc
  40. 40. Why Customers Buy From You 1. Confidence 2. Quality 3. Service 4. Selection 5. Price THE GUERRILLA GROUPinc
  41. 41. Confidence comes from: •Experience •Product Knowledge •Competitive Intelligence •Promises you can keep THE GUERRILLA GROUPinc
  42. 42. “Mr. Colton,do we stand behind our products?”
  43. 43. Promises You Can Keep •No Lemon Guarantee •30 Day Price Guarantee •On-time Delivery Guarantee THE GUERRILLA GROUPinc
  44. 44. 4. Patient •Fine-tuning your knowledge and skills takes time. THE GUERRILLA GROUPinc
  45. 45. Prospect Learning Curve Purchase Readiness Total Apathy Numbe r of Imp ressions THE GUERRILLA GROUPinc
  46. 46. 5. Assortment –Fill the Curve –Package Pricing –Show the Best First –Fusion Marketing THE GUERRILLA GROUPinc
  47. 47. “How did I go broke? I was the low bid.”
  48. 48. 4 Ways to Build Margin •Upselling •Crosselling •Reselling •Double it THE GUERRILLA GROUPinc
  49. 49. The Gradient If money were no object. . . What we do is. . . PriceIf all you want is . . . Overhead THE GUERRILLA GROUPinc
  50. 50. They’ll Pay More •Quality •Authenticity •Stability •Reliability •Knowledgeable salespeople THE GUERRILLA GROUPinc
  51. 51. “This DVD player costs less than players selling for twice as much.”
  52. 52. They’ll Pay More •Reputation •Partnership •Consistency •Exclusive features •Advanced technology THE GUERRILLA GROUPinc
  53. 53. They’ll Pay More •Authority •Popularity •Scarcity •Disposal •Intrinsic value THE GUERRILLA GROUPinc
  54. 54. They’ll Pay More •Authenticity •Financing •Short delivery times •Arrives in perfect condition THE GUERRILLA GROUPinc
  55. 55. They’ll Pay More •Problems fixed quickly •Environmentally friendly •Benefit a third party •Reduced liability THE GUERRILLA GROUPinc
  56. 56. They’ll Pay More •More fun! THE GUERRILLA GROUPinc
  57. 57. 6. Subsequent•“Guerrillas wage their marketing campaign simultaneously on three fronts.” THE GUERRILLA GROUPinc
  58. 58. Lifetime Value of a Customer $5,000.00 per year x 5 years $25,000.00 x 3% $750.00 THE GUERRILLA GROUPinc
  59. 59. 6. Subsequent •“It takes 11 positive impressions to overcome a single negative impression.” –Repetition, Repetition, Repetition –You Oughta’ Be In Pictures THE GUERRILLA GROUPinc
  60. 60. Dear MikeTHANK YOU From the desk of Orvel Ray Wilsonfor inviting meto speak for ARA for thethird year! What a FUNgroup! We had a GREATtime! OrvelRay 34316 Gap Road, Golden, CO 80403 800-247-9145
  61. 61. 7. Convenient • “Guerrillas are user friendly. They are in touch, easy to reach, and they do everything immediately.” –Location –Business hours –Delivery hours –Staffing THE GUERRILLA GROUPinc
  62. 62. “He’s on another line at the moment, would you like to hold?”
  63. 63. The Economics of Exceptional Service •The average business never hears from 96% of its unhappy customers. •But 90% or more will not visit or buy from them again. THE GUERRILLA GROUPinc
  64. 64. The Economics of Exceptional Service •For every complaint, the average company has 26 customers with problems. •Of customers who register a complaint, 70% will do business with you again if you resolved the complaint. THE GUERRILLA GROUPinc
  65. 65. The Economics of Exceptional Service •That figure jumps to 95% if the customer feels the problem was resolved quickly. •The average upset customer tells 9 people about it. One in five will tell more than 20. THE GUERRILLA GROUPinc
  66. 66. The Economics of Exceptional Service •Better service performers charged about 9% more for their goods. •They grew twice as fast and picked up market share at 6% a year, while those with poor customer service lost 2% per year. THE GUERRILLA GROUPinc
  67. 67. The Economics of Exceptional Service •Service stars earned a 12% return on sales, vs. a paltry 1% for the rest. The Strategic Planning Institute, Cambridge, MA THE GUERRILLA GROUPinc
  68. 68. 8. Measurement •“What you measure is what you get. Inspect what you expect.” – Tom Peters THE GUERRILLA GROUPinc
  69. 69. “Discouraging data on that new antidepressant.”
  70. 70. 8. Measurement •P&L – Which part of the business is most profitable? •Days in AR •Motivate everyone to above average production THE GUERRILLA GROUPinc
  71. 71. Monthly Sales Performance Total Sales Number of Gross Margin Volume TransactionsJeannie $16,550.00 25 31.1%Ted $20,196.00 26 30.2%Aaron $24,952.00 30 29.3%Chris $19,252.00 32 32.1%Pat $22,532.00 31 34.9%Michelle $21,036.00 25 26.0%Ryan $26,382.00 19 31.0%Average $21,557.14 26.86 30.7%
  72. 72. Monthly Sales Performance Total Sales Number of Gross Margin Volume TransactionsJeannie $16,550.00 25 31.1%Ted $20,196.00 26 30.2%Aaron $24,952.00 30 29.3%Chris $19,252.00 32 32.1%Pat $22,532.00 31 34.9%Michelle $21,036.00 25 26.0%Ryan $26,382.00 19 31.0%Average $21,557.14 26.86 30.7%
  73. 73. Monthly Sales Performance Total Sales Number of Gross Margin Volume TransactionsJeannie $16,550.00 25 31.1%Ted $20,196.00 26 30.2%Aaron $24,952.00 30 29.3%Chris $19,252.00 32 32.1%Pat $22,532.00 31 34.9%Michelle $21,036.00 25 26.0%Ryan $26,382.00 19 31.0%Average $21,557.14 26.86 30.7%
  74. 74. Monthly Sales Performance Total Sales Number of Gross Margin Volume TransactionsJeannie $16,550.00 25 31.1%Ted $20,196.00 26 30.2%Aaron $24,952.00 30 29.3%Chris $19,252.00 32 32.1%Pat $22,532.00 31 34.9%Michelle $21,036.00 25 26.0%Ryan $26,382.00 19 31.0%Average $21,557.14 26.86 30.7%
  75. 75. 8. Measurement •Traffic and Closing Ratios –People Counter System THE GUERRILLA GROUPinc
  76. 76. 9. Excitement THE GUERRILLA GROUPinc
  77. 77. 9. Excitement THE GUERRILLA GROUPinc
  78. 78. Pay incentives to write business today •First ticket •Biggest ticket •Most tickets •Most Units •Smallest ticket •Last ticket THE GUERRILLA GROUPinc
  79. 79. 9. Excitement •Have Fun! –“How’s business?” –A Good Word for Everyone –Never Complain. THE GUERRILLA GROUPinc
  80. 80. 10. Commitment •Use what you have •Invest in your stars •Put it in writing THE GUERRILLA GROUPinc
  81. 81. THANK YOU! •Like me on facebook •Follow us on Twitter •Call with questions 800-247-9145 •If you want the slides. . . THE GUERRILLA GROUPinc

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