2008 NARI Educational Forum Speech Mcmw 10.21.08

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Presented at the 2008 NARI, National Association of the Remodeling Industry, by Steve L Kleber, president of Kleber and Associates

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2008 NARI Educational Forum Speech Mcmw 10.21.08

  1. 1. 2008 NARI Educational Day Forum Speech PRESENTED BY Steven L. Kleber, President Kleber & Associates
  2. 2. Overview <ul><li>Marketing in a “Low” Time </li></ul><ul><li>Some of our clients include: </li></ul><ul><li>Gerber Plumbing Fixtures, Innovative Stone, Cifial, MonierLifetile, SEN Design Group, Mr. Steam, KOMA Trim Products, to name a few. </li></ul>
  3. 3. Overview <ul><li>Member of NARI, NAHB, NKBA </li></ul><ul><li>Regular contributor to noted industry publications such like Remodeling, Kitchen+Bath Business, Housing GIANTS , and others </li></ul><ul><li>Original White Papers that include: Missing Males; Kleber IQ: Think Global, Act Local; Generation Green… </li></ul>
  4. 4. Presentation Takeaways <ul><li>Why marketing in a “low” time helps to both sustain and increase market share </li></ul><ul><li>Challenging economic times are actually an opportunity to grab new market share and increase sales </li></ul>
  5. 5. Food for Thought <ul><li>Ninety-four percent of Chief Marketing Officers and marketing executives agreed with the statement, “A tough economic period is precisely the time when marketing plays a key role.” </li></ul>
  6. 6. Why marketing in a “low” time well positions you for a market upturn <ul><li>Consumers seeking remodeling projects are more apt to reach out to those companies that are top of mind </li></ul><ul><li>Remodelers that maintain their market position will be better situated to convert prospects into valued consumers when the market picks up </li></ul>
  7. 7. Why marketing in a “low time”… <ul><li>Mohawk Industries maintains its $10 Million marketing budget despite hellish U.S. Real Estate and Housing Market - giving them a competitive edge. </li></ul>
  8. 8. Why marketing in a “low time”… <ul><li>Successful launches in economic downturns include: CNN, MTV, Wal-Mart, Wikipedia, Apple during the recessions of 1980-82, 90s, and after Sept. 11th </li></ul>
  9. 9. Why marketing in a “low time”… <ul><li>CNN and MTV reshaped media consumption habits and TV programming for a generation </li></ul><ul><li>Wikipedia and iPod transcended society into an open-source and portable media and music network </li></ul><ul><li>These companies maintained consistent marketing position despite the urge to cut back on marketing… </li></ul>
  10. 10. New Prospects <ul><li>With the bad comes the good - not all is “doom and gloom” </li></ul><ul><li>Good news for remodelers - homeowners are staying in their homes longer </li></ul><ul><li>Prospects for kitchen and bath upgrades, and maintenance and renovation projects </li></ul><ul><li>Proving your value = new customers </li></ul>
  11. 11. Smarter Marketing <ul><li>How to increase market share and thrive in this economic downturn? </li></ul><ul><li>The secret lies in SMARTER MARKETING </li></ul><ul><li>Let’s Get Started… </li></ul>
  12. 12. Marketing in a “Low” Time Tips <ul><li>Adapt your marketing messages </li></ul><ul><li>Show empathy for your customers’ current state of affairs and emotions </li></ul><ul><li>Add value to their lives </li></ul>
  13. 13. Adapt Your Marketing Messages <ul><li>Target’s TV spots tout the tagline “a new day. new ways to save.” </li></ul><ul><li>Target’s new language appeals to the “average American” family who is cutting back… a new approach to living a cost-conscious lifestyle. </li></ul>“ A New Day. New Ways to Save. ”
  14. 14. Adapt Your Marketing Messages <ul><li>Consumers are spending more time at home - that’s an opportunity </li></ul><ul><li>The kitchen has again become the focus for quality time with family and friends </li></ul><ul><li>Looking for savings, consumers are seeking refuge in remodeled or expanded spa-like bathroom or an at-home workout area </li></ul>
  15. 15. Maximize Your Marketing Dollars <ul><li>The best marketing campaigns have a multi-dimensional approach </li></ul><ul><li>For example: The Remodeling Show </li></ul><ul><ul><li>Network with other remodelers </li></ul></ul><ul><ul><li>Assess your competition </li></ul></ul><ul><ul><li>Bring a press kit (for the media) </li></ul></ul>
  16. 16. The Bottom Line <ul><li>Examine each thing you do, can do and how you can get more return on your investment </li></ul>
  17. 17. Focus Your Marketing <ul><li>Know who you are specifically targeting </li></ul><ul><li>Think of who you’re not trying to attract </li></ul><ul><li>Understand your target market - what makes them buy and how they purchase </li></ul><ul><li>Focus on who is really going to pay for your services </li></ul>
  18. 18. Invest in Digital Marketing <ul><li>The majority of today’s businesses have a website </li></ul><ul><li>Consumers use websites for general information, contact and service information, photos, pricing, competitive analysis, customer testimonials… </li></ul><ul><li>You can show before and after projects </li></ul><ul><li>Communicate referral sources </li></ul>
  19. 19. Invest in Digital Marketing <ul><li>Myspace, facebook, Linkedin, twitter and other social networking sites </li></ul><ul><li>Blogging your expertise </li></ul><ul><li>Podcasts, webinars and website RSS feeds </li></ul><ul><li>Sixth-three percent of the 175 marketing executives surveyed by Epsilon see an increase in their spending on interactive/digital marketing </li></ul>
  20. 20. Cultivate Consumer Relationships <ul><li>Differentiate your company by showing off your social skills </li></ul><ul><li>Have frequent and personalized contact with your key customers and prospects </li></ul>
  21. 21. Pay Attention to Current Customers <ul><li>Current customers hold the key to your success </li></ul><ul><li>Increase sales to existing clients </li></ul><ul><li>Offer welcome back gifts </li></ul><ul><li>Foster the customer relationship </li></ul>
  22. 22. Emphasize Quality and Value <ul><li>The majority of shoppers are changing the way they shop: </li></ul><ul><ul><li>Shopping less often </li></ul></ul><ul><ul><li>Buying more strategically </li></ul></ul><ul><ul><li>Doing more research before they purchase </li></ul></ul><ul><li>Sell your service at a price with clear deliverables and guarantees </li></ul><ul><li>Increase your perception of value </li></ul>
  23. 23. Sell Your Service as an Investment <ul><li>Remodeling that will pay dividends to your client </li></ul><ul><li>It has to be more than a cliché claim </li></ul><ul><li>Promote the benefits of your remodeling service </li></ul><ul><li>Use past clients (testimonials) </li></ul><ul><li>Use language your customers are fluent in </li></ul>
  24. 24. Sell Your Service as an Investment <ul><li>Wal-Mart used the economic downturn to its advantage </li></ul><ul><li>New tagline “Save money. Live better.” </li></ul><ul><li>Focuses strictly on the idea of “saving money”, versus its “ always low prices” </li></ul>Wal-Mart Commercial
  25. 25. Offer Incentives <ul><li>Word-of-mouth and referral sales </li></ul><ul><li>Bank of America gives its current customers $25 when they refer someone to open a checking account </li></ul><ul><li>Ask for testimonials </li></ul><ul><li>Testimonials add credibility and validity to your work and brand </li></ul>
  26. 26. Offer Incentives <ul><li>Offer incentives to new and existing customers </li></ul><ul><li>Money saving offers </li></ul><ul><li>Monthly specials </li></ul><ul><li>“ Dine-out” programs </li></ul>
  27. 27. Be Prepared for an Upturn <ul><li>It’s about strategic planning and being prepared for an upturn </li></ul><ul><li>Plan for Phase II of your marketing strategy </li></ul>
  28. 28. Have a Marketing Plan <ul><li>Have an actual marketing plan </li></ul><ul><li>Implement it </li></ul><ul><li>There are three legs to a profitable business: </li></ul><ul><ul><li>Product/service development </li></ul></ul><ul><ul><li>Sales </li></ul></ul><ul><ul><li>Marketing </li></ul></ul>
  29. 29. Keep Your Employees Happy <ul><li>Valuable employees are the heart and soul of a flourishing business </li></ul><ul><li>Don’t lose exceptional team members due to: </li></ul><ul><ul><li>Unsatisfactory salaries </li></ul></ul><ul><ul><li>Limited career advancement opportunities </li></ul></ul><ul><ul><li>Lackluster benefits </li></ul></ul><ul><li>Loss of team members costs management time, energy and money, lowers company morale and disrupts company dynamics </li></ul>
  30. 30. Improve Customer Service <ul><li>Many consumers like Ruppies (retired urban professionals) place customer service above quality and value </li></ul><ul><li>A slow time is the best time to work on your customer service skills as a company </li></ul>
  31. 31. Maintain a Positive Attitude <ul><li>If you sit back and retreat into a state of worry and apprehension, your business will only be the worse for it </li></ul>
  32. 32. Smarter Marketing is Key to Success in a Downturn <ul><li>Get out there </li></ul><ul><li>Take action </li></ul><ul><li>Decide your own business fate </li></ul><ul><li>Consider it a challenge to overcome </li></ul><ul><li>It’s not necessarily about spending more money, but spending wisely </li></ul>
  33. 33. Questions? <ul><li>Kleber & Associates </li></ul><ul><li>Kleberandassociates.com </li></ul><ul><li>770.518.1000 </li></ul><ul><li>Contact me directly: </li></ul><ul><li>Steven Kleber </li></ul><ul><li>[email_address] </li></ul><ul><li>770.518.1000 x203 </li></ul>
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