Tips For Frugal Marketing

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Tips for frugal marketing was presented to a group of women entrepreneurs as part of a program conducted by IIM Bangalore. It is derived from content from my to-be-released book, No Money Marketing, …

Tips for frugal marketing was presented to a group of women entrepreneurs as part of a program conducted by IIM Bangalore. It is derived from content from my to-be-released book, No Money Marketing, and examples from Wipro. Copying without attribution is not allowed under any circumstances, commercial or personal.

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  • 1. Frugal Marketing Why > What >How> 1
  • 2. When is frugal marketing required? Upstart brands take on brands that are larger, high Mature Champions more established Relative Marketshare than themselves 1. New business model challengers Laggards Challengers low 2. Old model, new market challengers New Money Marketing, Jessie Paul, McGraw-Hill Education low high Relative Growth Rate
  • 3. Core vs Surround Vision Environment People Input Core Output Community Elements Service Impact Surround Surround Delivery Facilities Attributes Investor Returns Price Country of origin Industry Development Executive Management New Money Marketing, Jessie Paul, McGraw-Hill Education Corporate Core Governance Elements that are directly related to service performance Service Delivery Quality Business Process Benefits
  • 4. Flat World Trends 1. Digitization, globalization: People are buying things they cannot see! 2. The world is connected electronically: Everyone is a journalist, opinion-maker, and salesperson! 3. Advertising is free: But getting it is hard work The market is very small: You have a target audience of 4. one New Money Marketing, Jessie Paul, McGraw-Hill Education
  • 5. Marketing changes in the Flat World Flat World Old World Communication Free At cost Opt-in Opt out Instantaneous Lag 2-way, interactive One way Information Free At cost Easily accessible Access controlled Customers Interconnected Individuals Location-independent Location-specific New Money Marketing, Jessie Paul, McGraw-Hill Education
  • 6. Useful levers and tools for smart branding Levers Channels • Thought • Executive + Branding Leadership • Pricing • Public Relations • Country of Origin • Awards • Sustainability • Online Presence New Money Marketing, Jessie Paul, McGraw-Hill Education
  • 7. 5 Frugal Tips 1 2 3 4 5 Define Create Own the Insights vs your Your Own Go Online Eco- Information Audience Marketing system Narrowly Channels
  • 8. Define your Audience Narrowly Confidential © Copyright 2007 Wipro Ltd
  • 9. Own the Eco- system Government Analysts Friends & Family Employees Other Customers Journalists Decision Maker Salesperson Consumer Reports New Money Marketing, Jessie Paul, McGraw-Hill Education Industry Consulting Associations Firms Sourcing Expert Advisors Users Internet Academics Pundits
  • 10. Create Your Own Marketing Channels Confidential © Copyright 2007 Wipro Ltd
  • 11. Insights vs Information First global award for innovation in sourcing. Blue-chip partners: ITAA, IAOP, Forbes.150+ nominations, 12 Winners announced at gala event in NY Confidential © Copyright 2007 Wipro Ltd
  • 12. 478,028 “friends” and 88,009 Go Online comments. MySpace 500+ connections 900,000+ supporters MyBo LinkedIn Acts as a hub for his other online media presence Barack Obama New Money Marketing, Jessie Paul, McGraw-Hill Education 68,836 “followers” 1,465,128 “supporters”, Twitter Facebook 340,142 comments or wall 181 updates posts YouTube 1185 videos 76,095 subscribers 15,603,285 million Confidential © Copyright 2007 Wipro Ltd channel views