Marketing and Communications Channel Mix

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Learn about how to maximize your channel mix when marketing membership for your association. Any questions, call Erik Schonher, VP, MGI, at 703.706.0358

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Marketing and Communications Channel Mix

  1. 1. Planning the Marketing & Communications Channel Mix
  2. 2. Speakers: Erik Schonher, Vice President, Marketing General Inc. Todd Michaels, Director, E-Business, Marketing General Inc.
  3. 3. Marketing General (MGI) is a marketing agency specializing in targeted marketing solutions that grow associations and drive revenue. <ul><li>Membership </li></ul><ul><li>Product / Catalog </li></ul><ul><li>Conference </li></ul><ul><li>Education / Accreditation </li></ul><ul><li>Communications & Branding </li></ul>Who is MGI?
  4. 4. <ul><ul><li>Take away at least one GREAT idea to enhance your media planning. </li></ul></ul>Session Goal
  5. 5. <ul><li>What are we talking about? </li></ul><ul><ul><li>What’s in “The Mix”? </li></ul></ul><ul><ul><ul><li>The Four P’s (+ three) </li></ul></ul></ul><ul><ul><ul><ul><li>Key Elements of a Media Plan </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Open Discussion </li></ul></ul></ul></ul></ul>Today’s Presentation
  6. 6. What are we talking about? Marketing mix is the set of controllable tools that an association blends to produce the response it wants in the target market. It is everything the association can do to influence the demand for its product (Kotler and Armstrong, 2004). The marketing mix strategy of any association has one major function, the strategic communication of the organization with its members and customers (Proctor, 2000).
  7. 7. Four P’s The basic elements of a Marketing Mix are known as the “ Four P's”
  8. 8. The Four P’s Defined Product The product includes all features and combination of goods and related services that an association offers to its members/customers. Pricing Pricing is basically setting a specific price for a product or service offered. Placement Placement under marketing mix involves all company activities that make the product available to the targeted customer (Kotler and Armstrong, 2004). Based on various factors such as sales, communications and contractual considerations, various ways of making products available to customers can be used (Lazer, 1971). Promotion Promotional strategies include all means through which a company communicates the benefits and values of its products and persuades targeted customers to buy them (Kotler and Armstrong, 2004).
  9. 9. + Three Physical evidence The material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues. People People buy from people that they like, so the attitude, skills and appearance of all staff need to be first class. Process is an element of service that sees the customer experiencing an organisation's offering. It's best viewed as something that your customer participates in at different points in time.
  10. 10. <ul><li>Marketing Objectives/Goals </li></ul><ul><li>Audience Segmentation </li></ul><ul><li>Offer Development </li></ul><ul><li>Channel Mix </li></ul><ul><li>Measurement </li></ul><ul><li>Testing & Optimization </li></ul>Key Elements of a Media Plan
  11. 11. 1. Marketing Objectives Goals set should include accountability for deliverables that are both quantitative and qualitative. Examples include number of leads generated, number of articles placed in targeted publications, number of trade shows executed, number of speaking engagements secured, projects completed like reorganization of business development collateral, Web-site update, and white papers authored.
  12. 12. 1. Marketing Objectives – Con’t <ul><li>Awareness vs. Transactions </li></ul><ul><li>Direct Marketing vs. Advertising Success Formula </li></ul><ul><ul><li>DM = 40% audience / media, 40% offer, 20% creative </li></ul></ul><ul><ul><li>Advertising = 20% audience / media, 40% offer, 40% creative </li></ul></ul><ul><li>Desired Results </li></ul>
  13. 13. 1. Marketing Objectives – Con’t <ul><li>Budget Drives Selection </li></ul><ul><li>Understand Maximum Acquisition Cost (MAC) and Lifetime Value of a Member (LTV) </li></ul><ul><li>Key Elements of the Pro Forma </li></ul>
  14. 14. 3. Audience Segmentation <ul><li>Determine audience before offer and channel </li></ul><ul><li>Segmentation Schemas: </li></ul><ul><ul><li>Segmentation by Spend … Big Spender, Dabbler, Stakeholder </li></ul></ul><ul><ul><li>Segmentation by Relationship … Member, Prospect, Influencer </li></ul></ul><ul><ul><li>Segmentation by Activity … Active Member, Recent Prospect, Lapsed Member </li></ul></ul><ul><li>Recency, Frequency and Monetary (RFM) Analysis </li></ul>
  15. 15. 4. Offer Strategy <ul><li>Direct marketing is about selling the “next step”. </li></ul><ul><li>What is the “next step” you want your audience to take? </li></ul><ul><ul><li>Functions … reply, call, click, form-submission </li></ul></ul><ul><ul><li>Relationship … inquiry, opt-in, enrollment, purchase </li></ul></ul><ul><li>Emotional vs. rational appeals </li></ul><ul><li>Sample offers </li></ul>
  16. 17. 5. Channel Strategy <ul><li>Key channel drivers … </li></ul><ul><ul><li>objectives, budget, allowable marketing cost, audience and offer </li></ul></ul><ul><li>Outbound media vs. response media </li></ul><ul><li>Acquisition vs. member communications </li></ul><ul><li>See Matrix </li></ul>
  17. 18. Channel Mix Media Key Uses Pros Cons Direct Mail <ul><li>Member Acquisition </li></ul><ul><li>Member Retention </li></ul><ul><li>Product/Pgm Promotions </li></ul><ul><li>Member Communications </li></ul><ul><li>Measurable </li></ul><ul><li>Personalized </li></ul><ul><li>Targeted </li></ul><ul><li>Versatile </li></ul><ul><li>Established Metrics </li></ul><ul><li>6 Wk Turnaround </li></ul><ul><li>Long Response Time </li></ul><ul><li>Substantial Front-end </li></ul>E-Mail <ul><li>Member Communications </li></ul><ul><li>Awareness </li></ul><ul><li>Support Member Acquisition </li></ul><ul><li>Member Retention </li></ul><ul><li>Measurable </li></ul><ul><li>Personalized </li></ul><ul><li>Targeted </li></ul><ul><li>Versatile </li></ul><ul><li>Low Front-end Cost </li></ul><ul><li>Short Turnaround </li></ul><ul><li>Quick Response Time </li></ul><ul><li>Limited Metrics Established </li></ul>Internet <ul><li>Product/Program Promotions </li></ul><ul><li>Awareness </li></ul><ul><li>Measurable </li></ul><ul><li>Personalized </li></ul><ul><li>Targeted </li></ul><ul><li>Versatile </li></ul><ul><li>Low Front-end Cost </li></ul><ul><li>Short Turnaround </li></ul><ul><li>Limited Metrics Established </li></ul>Telephone <ul><li>Member Acquisition </li></ul><ul><li>Member Retention </li></ul><ul><li>Product/Pgm Promotions </li></ul><ul><li>Quick Response Time </li></ul><ul><li>Versatile </li></ul><ul><li>Established metrics </li></ul><ul><li>Measurable </li></ul><ul><li>Substantial Front-end </li></ul><ul><li>Substantial Pre-time </li></ul>Face-to-Face <ul><li>Member Communications </li></ul><ul><li>Awareness </li></ul><ul><li>Support Member Acquisition </li></ul><ul><li>Member Retention </li></ul><ul><li>Measurable </li></ul><ul><li>Personalized </li></ul><ul><li>Targeted </li></ul><ul><li>Versatile </li></ul><ul><li>Costly </li></ul>
  18. 20. What best describes your marketing approach or strategy for acquiring new members? (N=339)
  19. 21. 6. Measurement <ul><li>What to measure? </li></ul><ul><li>How to measure? </li></ul><ul><li>Interesting vs. Meaningful metrics </li></ul>
  20. 22. 7. Testing & Optimization <ul><li>What are the right things to test? </li></ul><ul><ul><li>List, offer, channel, media, creative, price, fulfillment </li></ul></ul><ul><li>Test the big things first </li></ul>
  21. 23. What’s in the Mix? The overall mix &quot;should not be seen as individual entities, but as a set of interrelated entities which have to be set in conjunction with one another&quot; (Proctor, 2000: 212). Integration is the Key - The key to success is not in using one channel over another, but the integration of a number of channels to help achieve your goals (where the same message is used across the different channels, based on the profile of each customer or target segment). Taking an integrated approach is without a doubt the most successful approach - Jupiter research found that coordinated multi-channel marketing increases conversion rates by 27% to 50%.
  22. 24. The Most Important Consideration – Make it personal!
  23. 25. Questions & Answers
  24. 26. Thank You.

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