The Fastest 2 Hours In Marketing

THE FASTEST 2 HOURS IN MARKETING A workshop to quickly learn and apply proven marketing principles.

Q. How do you grow a business? A. Marketing

What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.(??!)

What is Marketing? * Creating and communicating customer value. *

MARKETING – The 24 Tactics 1. Develop/improve website 2. Search Engine Optimization 3. TV ads 4. Newspaper ads 5. Radio ads 6. Magazine ads 7. Ad mail/flyers 8. Database/e-mail marketing 9. Online ads 10. Web links 11. Out-of-home/billboards 12. Directory advertising 13. In-store/p.o.s. signage 14. Hire salespeople 15. Consumer/trade shows 16. Create a sale event/promotion 17. Sampling 18. Community sponsorships 19. Public relations 20. Blog/Facebook/editorial 21. Networking 22. Referrals 23. Advocates 24. Internal mktg.

MARKETING - Components ADVERTISING Pricing DIRECT SELLING Product Selection PROMOTION Distribution/ PUBLIC RELATIONS Locations CORPORATE COMMUNICATIONS Staffing/Training

The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. Peter Drucker

Why should your customers buy from you? What can you say to convince them?

Customers must recognize that you stand for something. Howard Schultz

MARKETING - strategy Where do you start? The 4 P’s: Or a S.W.O.T. Analysis?  Product  Strengths  Place  Weaknesses  Price  Opportunities  Promotion  Threats

MARKETING – Strategy Development For most companies, an effective strategy is achieved by working through The 4 M’s of Marketing…

MARKETING - objectives What do you want your marketing strategy to do?  Attract new customers  Build brand image  Increase margins  Sell product now  Grow current customers  Create demand… PRICE

What influences marketing strategy? Competitors Marketing Channels Legal Environment Technology/Nature Market Economic Environment Social/Cultural Suppliers Shareholders

What can you be the best in the world at? Jim Collins

Your MARKET Analyze your Target Market and your Competitive Market… Who is your best customer?  Demographics … age, income, household size …  Psychographics …what are their Values/Attitudes/Lifestyles?  Geographics … where do they live, work, shop?  Media habits … are they heavy users of any media?  Influencers … can your target’s influencers be targeted? How large is your Target Market? How many Target Markets? Are there other potential markets for growth?

What do you do better than anyone else? Identify your Core Competency and then your Value Proposition (or Unique Selling Proposition) Then consider your competitors and their strengths and weaknesses 1. ______________ s/w:___________________________________ 2. ______________ s/w:___________________________________ 3. ______________ s/w:___________________________________ • Where is the opportunity for you to be positioned? • What position can you own in a consumer’s mind?

The Marketing Matrix Performance options:  Quality B  Convenience Price A  Selection  Service C D  Expertise  Value Performance

The basic issue in marketing is creating a category you can be first in. It’s better to be first than it is to be better. Jack Trout & Al Ries

Answer W.I.F.M.? Self-  Basic Necessity Actualization  Safety  Cost-Savings  Time-Savings  Health/Well-being/Comfort  Status Basic Needs  ________ ? What “emotional driver” can you tap into?

Great brands find relevant ways to tap the emotional drivers that already reside deep inside each of us. Scott Bedbury “A New Brand World”

What can you say to convince them to do business with you? Persuasive, memorable messages (A.I.D.A. Communication formula):  Engage your customer (get their ATTENTION) …  Tell them what is in it for them (peak their INTEREST) …  Tell them what it will do for them (build a DESIRE) …  State what you want them to do (call them to ACTION) …  Re-state benefits of your business (your positioning statement) …  Make your name stick (name association) …  Simplify … less is more

A brand for a company is like a reputation for a person. You earn your reputation by doing the hard things well. Jeff Bezos, Amazon.com

What is the most effective method to deliver your Message? 1. Reach the right people 2. With the right message 3. In the right environment 4. The right number of times 5. As cost-efficiently as possible The 4 methods of Promotion … Advertising…Promotional Marketing…Public Relations …Direct Marketing What is your Marketing Budget? … (1-20% of potential gross sales … depending on your goals, your market and your margins)

The 24 Tactics 1. Website (e-commerce) 2. S.E.O. (maximize keywords) 3. TV (use sponsorships) 4. Newspaper (scatter ads) 5. Radio (voice your own ad) 6. Magazine (inserts) 7. Ad mail/flyers (send invitations) 8. Database mktg. (send e-newsletter) 9. Online ads (Google adwords) 10. Web links (build business connections) 11. O.O.H./billboards (:03 impact) 12. Directory advertising (free offer) 13. In-store/P.O.S. (unique location) 14. Salespeople (do research) 15. Consumer/Trade shows (character) 16. Sale event/promotion (open house) 17. Sampling (cheerleaders) 18. Community (sponsor team) 19. PR (newsworthy media release) 20. Editorial/Blog/Facebook/(id trends) 21. Networking (join something) 22. Referrals (offer rewards) 23. Advocates (develop advisors) 24. Internal mktg. (empower your staff)

Always dominate a medium. The key to media dominance is relentless repetition. “The Wizard of Ads”

Next Steps: Marketing Planning Marketing Research Marketing Calendar Marketing Management & Controls Marketing Action Steps Marketing Systems

There is only one boss. The customer. And he can fire everybody in the company from the chairman down, simply by spending his money somewhere else. Sam Walton

MARKETING – strategic planning What have you identified that affects your Marketing Strategy?  ___________________________________  ___________________________________  ___________________________________ Write the basics of your strategy (in less than 3 sentences): (ie: In the next year we want to increase sales by 10% by increasing new customers by 10%. We will do this by consistently communicating to our new customer target market the benefits we offer them through our new positioning as the market leader in product selection).

MARKETING - planning After developing the basics of your Marketing Strategy, consider the following:  Marketing Research – What else do we need to know?  Marketing Communication – What else will we need to say?  Marketing Tactics – What can we do best?  Marketing Calendar – When can we do it?  Marketing Action Steps – How do we start?  Marketing Metrics – How will we know when it is working?

MARKETING - research How do you know you have the right strategy? First, develop your research plan:  Define the problem or the info you require  Develop a plan; include sources, methodology, questionairre design, and review criteria  Implement the Plan  Review findings and revise Marketing Strategy accordingly Sources:  Internal: employees, management,  Customers: existing, former, potential  Existing Research: Statscan, internet, suppliers  Surveys: Ipsos-omnibus, customized

MARKETING - communication Developing your Power Words and Images:  What words and phrases motivate your best customer?  What images motivate your best customer?  What is your competition communicating?  How can you communicate more effectively than them?  What type of communication may turn-off your best customers?  Is the message setting realistic expectations for your customer?  Use experts communicators in specific media  Simplify …

The more information you put into a message, the less people take out. Michael Newman

Tactic 1 Tactic 2 Review Tactic 1 Tactic 3 Tactic 4 Jan Feb Mar Apr May Jun July Sep Oct Nov Dec

MARKETING – action plan Develop your goals, your strategy and then your tactics … then take action.  Who will do it? … assign responsibility  How will it be done? … list tools  When will it be done? … set dates  When will it be reviewed? … monthly, quarterly?  How will we know when it is working? … measure  How will we celebrate achievement?!?

MARKETING METRICS – and management Continual Measurement Seek Marketing Evaluate Innovation Management Performance Take Corrective Action

People who are exceptionally good at business aren’t so because of what they know but because of their insatiable need to know more. Michael Gerber, The E Myth

Every company is a Marketing Company. Every employee is in Marketing.

MARKETING - Resources  Marketing–An Introduction – Armstrong, Kotler, Cunningham  www.sethgodin.com – Seth Godin  Positioning – Trout & Ries (or The 22 Immutable Laws of Marketing, or Marketing Warfare, or Focus or any book by Jack Trout or Al Ries; www.troutandpartners.com )  Good to Great – Collins ( www.jimcollins.com )  The E Myth – Michael Gerber ( www.e-myth.com )  A New Brand World – Bedbury ( www.brandstream.com )  Creative Leaps – Michael Newman  Made to Stick – Chip Heath  www.wizardofads.com – Roy Williams  …& Anthony Marketing Systems – bruce@anthonymarketing.ca

The Fastest 2 Hours In Marketing

by banter on Jun 03, 2009

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