Monkey Nutshell Marketing Workshop

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A presentation explaining one way for social businesses to develop a marketing plan.

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  • Monkey Nutshell Marketing Workshop

    1. 1. Marketing - in a Monkey nutshell <ul><li>Unltd, 8 May 2007 </li></ul>
    2. 2. Rob Greenland [email_address] .co.uk www.socialbusinessconsulting.co. uk www.thesocialbusiness.co.uk 07905 800 710
    3. 3. Why monkey business? <ul><li>Some really good marketing in the music business </li></ul><ul><li>Arctic Monkeys - use of myspace.com (by a customer) and free downloads </li></ul><ul><li>Four Day Hombre - asked fans to invest in a record label </li></ul><ul><li>All about building relationships - without much money </li></ul>
    4. 4. The five stages for developing a plan <ul><li>Identify your market </li></ul><ul><li>Research your market </li></ul><ul><li>Segment your market </li></ul><ul><li>Develop a marketing mix for each segment you will target </li></ul><ul><li>Work out how you’ll develop a relationship with each group of customers </li></ul>
    5. 5. What is marketing? <ul><li>Every contact you make with customers, suppliers and staff </li></ul><ul><li>The whole business seen from the customer’s point of view </li></ul><ul><li>Building relationships with customers </li></ul>
    6. 6. Why is marketing important? <ul><li>Because a lot of organisations aren’t very good at marketing </li></ul><ul><li>You’re in competitive markets </li></ul><ul><li>Part of the cultural shift towards building your business around customers - not funders. </li></ul><ul><li>Because you are not your customer! </li></ul>
    7. 7. What is a market? <ul><li>A set of all existing and potential buyers of a product or service </li></ul><ul><li>or </li></ul><ul><li>The total value of products or services which satisfy the same customer need </li></ul>
    8. 8. How do you decide what market you’re in? <ul><li>Ask what the customer needs </li></ul>
    9. 9. Market research <ul><li>Become a Zulu in your chosen market </li></ul>
    10. 10. How to organise your market research <ul><li>Big picture - size of the market, trends, etc </li></ul><ul><li>Customers - who are they? What you can you find out about them? </li></ul><ul><li>Competitors and partners </li></ul><ul><li>Then analyse your research- and make some decisions based on what you’ve found out. </li></ul>
    11. 11. Market segmentation <ul><li>Division of a market into different groups of customers who have broadly similar characteristics </li></ul><ul><li>Why is it important to do this? </li></ul>
    12. 12. Because customers aren’t all the same! <ul><li>Different customers have different needs </li></ul><ul><li>If you understand that, you can tailor your services to meet their needs </li></ul><ul><li>No prizes for guessing what happens when you do treat everyone the same </li></ul>
    13. 13. A two-minute market segmentation
    14. 14. Now, you start to tailor your service <ul><li>Develop a marketing mix for each group - a unique combination of: </li></ul><ul><ul><li>Product </li></ul></ul><ul><ul><li>Price </li></ul></ul><ul><ul><li>Promotion </li></ul></ul><ul><ul><li>Place </li></ul></ul>
    15. 15. An effective marketing mix
    16. 16. To recap <ul><li>Be clear about what market you’re in </li></ul><ul><li>Research your chosen market </li></ul><ul><li>Segment your market </li></ul><ul><li>Develop your marketing mix - product, price, promotion and place </li></ul><ul><li>Only then, think about spending money on “marketing” </li></ul>
    17. 17. Things that can work well for social entrepreneurs <ul><li>PR - particularly stories in your local media </li></ul><ul><li>Partnerships - with other organisations which are established in your chosen market </li></ul><ul><li>Word of mouth - your own mouth and your customers’ mouths! </li></ul><ul><li>Great service - surprise people! </li></ul><ul><li>Story-telling - you have a good story. </li></ul>
    18. 18. And finally… <ul><li>Listen to your customers </li></ul>

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