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Winning Marketing Plans for Arkansas Small Businesses
 

Winning Marketing Plans for Arkansas Small Businesses

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Powerpoint provided to Jonesboro Arkansas small business owners as part of a Write a Winning Marketing Plan workshop on Tuesday, February 5th at the ASU Delta Center for Economic Development by the ...

Powerpoint provided to Jonesboro Arkansas small business owners as part of a Write a Winning Marketing Plan workshop on Tuesday, February 5th at the ASU Delta Center for Economic Development by the ASU Small Business and Technology Development Center.

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  • SUCCEED: it is helping customers ACHIEVE THEIR GOALSCREATING LASTING RELATIONSHIPSPROCESS NOT EVENTHere too: marketing is NOT… complicated, it is not a miracle worker, nor a stage for humor
  • Fundamentals of successful marketing have not changed JUST THE TOOLS
  • All successful businessmen ARE GREAT MarketersAll successful marketers ARE GREAT story tellersTrick: What story will facinate your target audienceAsk class to share their favorite fiction book when growing up and why they liked itGreat Stories: Transport reader to a better place they would like to be OR is a Warning
  • Handout Worksheet
  • http://www.youtube.com/watch?v=KGZvQoPxhNs&playnext=1&list=PLA16325FDB7BA3724&index=1Chevrolet didn’t sell features instead sold a concept to WWII Vets Growing professional class, GI Bill creating families rise of interstates all set this commercial to be a success
  • Handout Worksheet
  • Handout WorksheetChoosing a target market should be based on Sales potentialGrowth OpportunitiesCompetitionAbility to serve that market
  • http://www.youtube.com/watch?v=5YGc4zOqozoHappy customers come back more oftenIncrease number of transactions per customerIncrease purchases per transactionReferral power
  • Demographic: age gender family size social class incomeGeographic region, population, climatePsychographic activities, interests, opinions, attitudesBehavioristic brand loyalty, benefits sought, readiness bo buy
  • The what is ROI link is to an old video on ROI for social media
  • Link to let them go to our Pinterest board that has infographics of demographic data about the top social sites
  • Note: social mention is still available but will not allow for email delivery anymore. Also the bottom link is an article I curated on how to use listening tools
  • Scheduling tools again hot links but to my sites may need login to access or use your own. Also bottom link is article I put together on how to use them

Winning Marketing Plans for Arkansas Small Businesses Winning Marketing Plans for Arkansas Small Businesses Presentation Transcript

  • CREATE A MARKETING PLAN FOR THE 21ST CENTURY THAT WORKS! 7 Sentence Marketing Plan to Stay on TRACK Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center
  • THE ASU SBTDC• Training• Consulting• Financial Analysis• Market Research• Loan Package Development• Search Engine Optimization © ASBTDC 2011 All Rights Reserved
  • IN YOUR PACKETS• Attendee Record• Copy of Presentation• Handouts• Evaluation Form• REQUEST FOR COUNSELING FORM © ASBTDC 2011 All Rights Reserved
  • GETTING ACQUAINTED• Please introduce yourself• Please tell the group about your business• Products/services your business provides• One expectation for today‟s seminar © ASBTDC 2011 All Rights Reserved
  • 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  • FIRST WHAT IS MARKETING? Businesses have only two functions:  INNOVATION  MARKETING The ART of getting people to change their minds THE TRUTH MADE FASCINATING Your Chance to help your customers SUCCEED BUILD LASTING RELATIONSHIPS MARKETING IS MOTIVATION!!!!!!
  • Marketing is like flossing your teeth, if you don’t do it everyday you will have pain and agony down the road.
  • WHAT ARE YOUR GREATEST CHALLENGES?
  • WHAT ARE YOUR GREATEST CHALLENGES?
  • VALUE PROPOSITION 2-3 Sentences that DEFINES you, your product and services…. THAT DIFFERENTIATES YOU from the COMPETITION.. In a way that MATTERS to your TARGET MARKET More on creating a value proposition AND real life examples at our Storify article Stand Out from the Herd with a Value
  • FUNDAMENTALS 0F GOOD MARKETING Break “My World” into Market Segments KNOW the RIGHT Target Market(s) KNOW the RIGHT Communication Channel(s) KNOW Target NEEDS and WANTS CRAFT a COMPELLING MESSAGE KNOW how to ANALYZE results KNOW good TIME Management
  • THE STORY YOU HAVE A GREAT STORY TO TELL! What was your FAVORITE Fiction Story?
  • MARKETING CYCLE Researc h Review Plan Create © ASBTDC 2011 All Rights Reserved
  • RESEARCH• SWOT Analysis• Benefits• Competitive Advantage• Target Markets © ASBTDC 2011 All Rights Reserved
  • SWOT ANALYSIS Strengths Weaknesses Opportunities Threats © ASBTDC 2011 All Rights Reserved
  • Market Intelligence Services forArkansas Businesses Herb Lawrence, ASU Center Director Small Business and Technology Development Center
  • BENEFITS CONNECT NOT FEATURES What does a 52 Chevy and Dinah Shore have to do with Cutting Edge 21st Century Marketing? You Tell Me!
  • FEATURES BENEFITS Professional Consulting  Improve Sales/Revenues  FREE  Reduce Expenses  Confidential  Make More Money  Variety of Areas  Have a Better Life Cutting Edge Market Research Low-Cost Training WorkshopsSBTDC FEATURES AND BENEFITS
  • FEATURES BENEFITS 1.  1. 2.  2. 3.  3. 4.  4. 5.  5.YOUR FEATURES AND BENEFITS
  • COMPETITIVE ADVANTAGE• Many of your competitors offer the same benefits as you.• However, you have benefits that are unique to your business.• These are your competitive advantages. © ASBTDC 2011 All Rights Reserved
  • TARGET MARKETS• “Everyone” is not a target market• People with the desire and ability to buy your product/service• Consumer vs. Organizations © ASBTDC 2011 All Rights Reserved
  • REALITY4%Customers Your 92% DON’T CARE! 4% ARE INTERESTED Business
  • 4% CUSTOMERS 68% of Business is LOST due to Customers being Ignored AFTER the Sale..no follow up Loyal Customers: More Transactions Buy more Refer
  • CONCENTRATE OF 4% WORK to Maintain Customer Contact Develop systematic follow up plan MOST DEADLY ENEMY: Apathy After the Sale Example of Follow up: 1 Week E-mail thanking for purchase  1 month Letter or CALL about satisfaction  3 Month recommend connecting with first purchase  6 Month Offer something new  1 Year: Customer Anniversary Card
  • EXERCISE What are your competitive advantages?
  • EXERCISE What are your target markets
  • 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  • LET’S TAKE A BREAK!
  • FINDING THE CHANNELS Advertising:  Challenges  Can be Costly  Newspapers  Repetition KEY  Magazines  Television GOLDEN  Radio  Direct Mail RULE: It will take an average of  Telemarketing 27 TOUCHES for your  Trade Shows advertisement to be noticed by consumers
  • CHANNELS
  • SO MUCH NOISE
  • BACK TO REALITY….4% Are or havebeen Customers 92% DON’T CARE! Your 4% ARE INTERESTED Business in WHAT YOU SELL
  • TODAY CUSTOMERS FIND US…IF WE HAVE PUT OUT THE BREAD CRUMBS
  • ON-LINE MARKETINGYour Customers Are Searching For You90% of consumers SEARCH OnlineTo find information about businesses.BUT only 52% of Small Businesses have a website!
  • WHY CUSTOMERS SEARCH ON LINE 83% Consumers use Search Engines for specific brands and products 80% Search for specific product or brand before buying ON-LINE 78% do Info search queries after seeing advertisement or brand elsewhere 76% Search about specific brands or products before purchasing OFF-LINE 78% Search to find BEST PRICES on product 74% Search to find WHERE they can purchase
  • STAYING IN TOUCH WITH CUSTOMERS
  • FEEDING THE CASH REGISTEREmail BLOGLocal Off-LineSearch Web Site
  • GETTING THE WORD OUT Spread the word on the RIGHT Channels Post it on a site that search engines can index Where we create content to FEED our BlogCreate Content in a Form Customers Want
  • CREATING AN ONLINE PLAN STEPS  Pre-planning  Listento the conversations  Create TARGET profile  Set Specific Goals  Join Conversation  Measure Return
  • STEP 1 PREPLANNINGWHAT ARE YOUR CURRENT CHANNELS? E-Mail? Direct Mail Newsletter Websites s
  • STEP 2 LISTEN TO THE CONVERSATION  Secure your brand on social platforms  Blogs, twitter, Facebook, LinkedIn  Usernames unique  Try to be consistent  Set up monitoring platforms  Google Alerts  SocialMention.com  Technorati  Twitter Search
  • STEP 3 CREATE TARGET PROFILE  Find KEY attributes by Listening  Chart out their presence in social media  Market Segmentation  Demographic  Geographic  Psychographic  Behavioristic  Continue to gather customer information along the way
  • Pinterest 2012 Stats and Figures…Plus How to Leverage PinterestWe love to Pin Interesting information at the ASU SBTDC Boards
  • STEP 4 SET SPECIFIC GOALS Brand Awareness/Advocacy Increase Traffic/Opt-Ins Business Partnerships Search Engine Results Generate Leads Reduce CRM Costs Increase Revenues
  • STEP 5 – JOIN THE CONVERSATION Establish an Editorial Calendar  Choose schedule for days you will post  Keeps on Track & Organize Content  Consistency  Helps when you need Content Ideas
  • STEP 6 – MEASURE ROIWHAT IS ROI? Non-Financial:  Visitors  WOM  Page Views  Fans & Followers FINANCIAL  Sales  Revenue  Transactions  Coupons
  • HOW TO FIND THE RIGHT SITES
  • EXACTLY WHO USES SOCIAL NETWORKS? ARETHEY MY POTENTIAL CUSTOMERS? Get detailed user data for 2012 at the ASU SBTDC Pinterest Site at our Social Network Stats 2012! http://pinterest.com/astatesbdc/
  • MONITORING TOOLS http://www.google.com/alertshttps://twitter.com/searchhttp://www.socialmention.com/ http://addictomatic.com/ Listen to the conversations! Read detailed “How To” set up at our storify posts http://storify.com/asbtdc_asu/monitoring
  • MONITOR FOR: Your business or organization Your Competition Your product or service Industry
  • INDUSTRIAL ESPIONAGE Follow your competition on social media  See what networks they use  Evaluate how they connect  Evaluate “value” they add to customers  Reactions of followers, fans, subscribers, etc. STEAL What works! AVOID what isn‟t working
  • WHAT IS GOOD CONTENT Educates Informs Entertains Provides Value Builds Trust Creates Relationships…then SELLS……
  • HOW TO SPREAD CONTENT Video Images, pictures – Articles Infographics eBooks/White Papers Webinars Podcasts Coupons/discounts/special offersKnow how subscribers in different networks PREFER to receive yourcontent
  • TOOLS TO CREATE CONTENT Slideshare.com upload your PowerPoint, word documents, pdf files, brochures, even video online to share with your audience Animoto.com Video creation and sharing tool that allows you to upload images and short video clips, add text, then mix with a great music library to share with your fans. Storify.com Online curation site bring information from Google, Facebook, Twitter, YouTube, Instagram and more. Perfect for quick creation of information in appealing format. YouTube – Fits as both a support tool and as its own social network. Shoot video from anywhere, upload to YouTube and share on your sites. Get more information about Slideshare, Animoto and YouTube at our Storify article “Tools to Create GREAT Content”
  • TOOLS TO SAVE TIME Hootsuite.com Buffer.com Tweetdeck.com Facebook Page SchedulerRead all about these and other scheduling tools at our Storifyarticle “Scheduling Tools for Beginners”
  • CROSS CHANNELS Social and Traditional are Combined for SYNERGY Posting WHERE your potential Customers are Understand „NEW RULES” for Social Media Marketing SOCIAL MEDIA is NOT easy or FAST.
  • HOW CUTTING EDGE MARKETERS WIN1. Research the Marketplace2. Write a Benefits List3. Select Proper Marketing Weapons4. Create Your Marketing Plan5. Create a Marketing Calendar6. Look into Fusion Marketing Partners
  • 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  • CONTACT THE ASU SBTDC E-Mail hlawrenc@astate.edu or asusbtdc@astate.edu Website: http://www.astate.edu/a/sbtdc/ ASU Small business Blog http://www.asbtdc- asu.com Facebook http://www.facebook.com/asu.sbtdc Facebook http://www.facebook.com/herb.lawrence Twitter: http://www.twitter.com/asbtdc_asu LinkedIn http://www.linkedin.com/in/asusbtdc OR CALL ME: (870) 972-3517 or cell 897-5125