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Beyond the Basics: Advanced Marketing Planning

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Get pointers on where and when to advertise that will help you spend wisely while driving a high response. Presented by Melissa Eckert, Marketing Communications Manager

Get pointers on where and when to advertise that will help you spend wisely while driving a high response. Presented by Melissa Eckert, Marketing Communications Manager

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  • 1. Advanced MarketingPlanningMelissa Eckert, MarketingCommunications Manager
  • 2. Your Marketing Plan• Need not be complicated• Need not be perfect• BUT…• You need one if you want to o drive higher response o spend smartly o focus your time and effort• The plan should be seasonal but there is no one single “planning season”. Company Confidential Vistaprint © 2011
  • 3. Plan for the Customer Lifecycle Acquire Reactivate Convert Retain Grow Company Confidential Vistaprint © 2011
  • 4. Arabella Salon & Day Spa, South Portland, MEScott Associates, CPA, Portland, ME Company Confidential Vistaprint © 2011
  • 5. Five Steps to a Marketing Plan1. Assess the Market2. Assess your Customers3. Set Goals4. Select Tactics5. Track Performance Company Confidential Vistaprint © 2011
  • 6. 1. Assess the marketKnow what is happening in the market to take advantage ofopportunities and avoid pitfalls.• Economic, demographic and political trends• Behavioral and technological trends• Competitor tactics and results Company Confidential Vistaprint © 2011
  • 7. Sample Market AssessmentMarket trend What it means for businessTroubled economy has Need to reinforce that clients will save morepeople cutting out non- money by using a professionalessential expensesMore people filing taxes Need to make sure we have an online presenceonlineCompetitors getting a larger Need to determine whether our customers areshare of the planning likely to pay us for those services, too.business Company Confidential Vistaprint © 2011
  • 8. Sample Market AssessmentMarket trend What it means for businessMore women in the area are Need to make sure hours and services match theworking outside the home needs of working womenPeople don’t have a lot of Need to keep prices reasonable and withinextra money to spend on expectationsbeautyMarket in the area is Need to determine what sets us apart from thesaturated two other salons on the street Company Confidential Vistaprint © 2011
  • 9. Five Steps to a Marketing Plan1. Assess the Market2. Assess your Customers3. Set Goals4. Select Tactics5. Track Performance Company Confidential Vistaprint © 2011
  • 10. 2. Assess your customersYou cannot effectively and efficiently retain customerswithout knowing something about them.• Which are most valuable?• What benefits do they care about?• Turn customer data into customer insight Company Confidential Vistaprint © 2011
  • 11. Customer Data• Age Demographic Data• Gender Transactional Data• Location• # of years as a customer Behavioral Data• What they purchase• $$ spent per transaction, month, year• How they found you• Etc. Customer Insight Company Confidential Vistaprint © 2011
  • 12. Customer Insight• Most customers only use our services once a year, during tax season. However, they do come back year after year so they appear satisfied.• The majority of customers found us through word of mouth. Another indication that our customers are happy with our services.• 65% of customers are over the age of 50. Many of those same customers are in a high income bracket but are not using Scott for retirement or estate planning services. Company Confidential Vistaprint © 2011
  • 13. Customer Insight• Customers using spa services are more likely than those using salon services to only visit once and never come back. They may be dissatisfied or consider spa services “special events”.• Most salon customers only come twice a year, indicating that they are likely visiting other salons, too.• 75% of visitors come on the weekends. Our customers may be more likely to work during the day and have family commitments at night. Company Confidential Vistaprint © 2011
  • 14. Five Steps to a Marketing Plan1. Assess the Market2. Assess your Customers3. Set Goals4. Select Tactics5. Track Performance Company Confidential Vistaprint © 2011
  • 15. 3. Set GoalsWithout goals to guide you, you cannot know where andwhen to spend your marketing dollars.• Should be focused and tied to financial metrics• Must be for a specific period of time• Will inform all choices from here on Company Confidential Vistaprint © 2011
  • 16. Three goals, three outcomesIncrease revenue per Improve customer Increase customer customer retention referrals Company Confidential Vistaprint © 2011
  • 17. Focus on one goal at a timeIncrease revenue per Improve customer customer retention There are other goals either company could identify. Focusing on one at a time conserves High customer Highly competitive, high- resources and puts satisfaction margin market your effort where you think it will be most Competitors getting Customers are visiting effective. additional business other salons Company Confidential Vistaprint © 2011
  • 18. Five Steps to a Marketing Plan1. Assess the Market2. Assess your Customers3. Set Goals4. Select Tactics5. Track Performance Company Confidential Vistaprint © 2011
  • 19. 4. Select tacticsIt is not always the least expensive form of marketing thatwill be most cost effective. Tactics should be based onmarket and customer insight.• Assess purpose• Arrange by customer type• Assign to calendar Company Confidential Vistaprint © 2011
  • 20. Tactical choices: AcquisitionObjective Appropriate Media/TacticsIncrease awareness of product/service Banner advertising In-person events Search marketing Website EmailConsider your company an expert Industry publications Public relations In-person events Company blogLearn more about your product/service Direct mail Email Company blog Facebook WebsiteTrigger purchase through an offer Direct mail + offer Email + offer Banner ad + offer Website + offer Company Confidential Vistaprint © 2011
  • 21. Tactical choices: Retain and GrowObjective Appropriate Media/TacticsCross-sell and up-sell current customers In store In-person events Direct mail EmailIncrease customer satisfaction and usage Direct mail Email Company blog Facebook NewslettersCreate customer dialogue and community Company blog Facebook Twitter Message boardsAllow customers to provide feedback Company blog Website surveys Facebook Company Confidential Vistaprint © 2011
  • 22. Sample Tactical PlanGoal Strategy Tactic To-Do Monthly newsletter Develop list of potential monthly themes Encourage use Review last year’s emails for anything to of our services leverage throughout the Reminder emails at Create list of events year important tax eventsIncrease Set reminders to be emailed one monthRevenue prior to each eventper Direct mail prior to tax Review customer list to find high-valueCustomer season to high- clients not yet using planning services potential clients Order postcards Cross-sell planning services In-store rack cards Visit competitor sites to see how they are explaining services explaining services Ask existing planning customers what made them choose Scott Format from The Marketing Plan Handbook, by Robert W. Bly Company Confidential Vistaprint © 2011
  • 23. Sample Tactical PlanGoal Strategy Tactic To-Do Welcome email to set Write list of FAQs about the first visit expectations for all new clients Add email field to scheduling software Improve Customer Satisfaction Survey customers for Write survey possible improvements Set up survey and add link to emailsIncreaseCustomer Loyalty card with Develop list of discountsRetention discounts on services Order loyalty cards Reward loyal customers “Member Mornings” for Ask current customers if that would interest no-wait spa service them Calculate how often new customers ask for morning service to asses risk Format from The Marketing Plan Handbook, by Robert W. Bly Company Confidential Vistaprint © 2011
  • 24. Five Steps to a Marketing Plan1. Assess the Market2. Assess your Customers3. Set Goals4. Select Tactics5. Track Performance Company Confidential Vistaprint © 2011
  • 25. 5. Track PerformanceYou want to know when you are on track…and when youneed to change course.• Start slow – qualitative data is still valuable• Then ramp up – quantitative data will help you see trends across groups of customers• Always match back to goals Company Confidential Vistaprint © 2011
  • 26. Track performance Goal Metrics to track Revenue/customer Increase revenue per customer # of services used/customer # of customers using planning Satisfaction rating Increase customer retention Repeat rate Company Confidential Vistaprint © 2011
  • 27. In review1. Assess the market and your customers.2. Turn data into insight.3. Use insight to inform your goals.4. Select tactics that are appropriate for your customers and your goals.5. Put the tactics on a calendar and follow the plan!6. Track performance to see what you are doing well and what you can improve. Company Confidential Vistaprint © 2011
  • 28. Appendix Company Confidential Vistaprint © 2011
  • 29. Sources of Market Data and Trends• U.S. Census Bureau (www.census.gov)• Bureau of Labor Statistics (www.bls.gov)• Google Trends (www.google.com/trends)• Trendwatching (www.trendwatching.com) Company Confidential Vistaprint © 2011
  • 30. Recommended Reading• The Marketing Plan Handbook, by Robert W. Bly Company Confidential Vistaprint © 2011