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Marketing and Social Networking

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  • 1. Marketing & SocialNetworkingNandini DasMarketing andCommunications Officer
  • 2. Our experience• Worked in marketing and communications for over 8 years mainly in not-for-profit• Learnt from making mistakes as all good marketing professionals have• Jack of all trades, master of none – not strictly true but…• Have worked on the All Wales Credit Union Support Programme for the last year – that‟s the extent of our credit union knowledge but we‟re learning fast!• Your input will make this session a success
  • 3. Your experience• What have been your marketing successes?• What hasn‟t worked so well?• What are the main barriers you face in speaking to new and existing customers?
  • 4. This is why effective marketing is especially important forcredit unions...
  • 5. PART 1Back to principles:Marketing Strategy &Knowing your Customer
  • 6. What is Marketing?“Marketing is the management process for identifying,anticipating and satisfying customer requirementsprofitably”- CIM definition
  • 7. What is marketing?• Not just advertising and/or selling• Helps you interpret your customer wants and needs and match or exceed them• The marketing process is central to the business performance of your organisation• It provides you with the best possible chance to survive in a competitive market place
  • 8. A marketing strategy is one part of the bigger picture• The marketing strategy focuses on markets and customers and is just one part of business strategy.• Business strategy takes a broader view that includes other business functions such as manufacturing and operations, finance, quality, purchasing and supply chain, and information and communication technology.• For example, a business objective may be to increase sales. Marketing objectives to achieve this would be to reach new customers, promote repeat buying among existing customers and launch new products.
  • 9. Marketing strategy• A marketing strategy is needed to help an organisation focus on their most fundamental requirements… Research Analyse Other factors Identify that influence needs and attitudes to purchasing customers preferences promotion decisions
  • 10. Marketing strategy: The processMarketing Audit SWOT Marketing plan Objectives, targets, KPIs Audience segmentation Messaging Channels
  • 11. Part 2: Audience/customer segmentation1. Audience segmentation2. Customer profiling3. 5 steps to customer segmentation
  • 12. What is audience segmentation?• “Mass personalisation”• Helps provide a more personal and bespoke service• Grouping customers allows you to continue to offer a high level of value and service to customers as you grow• Effective segmentation can avoid energy being wasted on undifferentiated offerings that fail to please anyone.
  • 13. Why is customer segmentation important?• No customers are the same• Meet the needs of large numbers of customers If you try to• Maintain/increase profits as business please grows everyone• Retain customers by providing products and services specifically for them you‟ll• Communicate messages relevant to your end up target audience pleasing• Avoid competition from larger no one competitors by focussing on specialist needs
  • 14. Understanding your customer1. Customer service2. Customer behaviour3. Talking to your audience4. Messaging
  • 15. Customer service is integral to an effective marketingcampaign“Customer Service is what your business delivers toachieve customer satisfaction. Excellence in customerservice, using the idea of relationship marketing, can helpyou retain customers.”The Chartered Institute of Marketing
  • 16. From „transactional‟ marketing to „relationship marketing‟• Marketing has moved from „transactional marketing‟ to „relationship marketing‟• Relationship marketing will help ensure customers are Less likely to go to your competitors It is said that it costs More satisfied, therefore more likely to up to 10 times as recommend you to others much to win a new customer than to Less likely to tell others about bad keep an existing one” experiences Focus on those with highest potential lifetime value• A happy customer also leads to the added bonus that your staff will feel good!
  • 17. 5 steps to improving customer service1. Identify which of your external customers are the most valuable2. Identify your internal and external customers3. Find out what level of service your customers want4. Develop customer service standards and a programme to provide customer satisfaction and help build loyalty5. Know where your customers are…then take your service to them
  • 18. Step 1: Identify which of your external customers are themost valuable• Prioritise the level of customer service you offer• Develop a profile so that you can target more new customers in the profitable groups.• The lifetime value of different customer groups will differ, as will the expectations of these groups.
  • 19. Step 2: Identify your internal and external customers• Identify all the „internal customers‟ involved in getting your product or service to the end customer• Ensure they all understand the impact they have on others in this „chain‟• The service given to other parts within your organisation will also impact on the level of service given to the external customer
  • 20. Step 3: Find out what level of service your customers want• Carry out customer satisfaction surveys to identify an appropriate level of service for each• Areas to check include Quality of service Accuracy of service Promptness of response Satisfaction with facilities Staff attitude and behaviour Complaint handling• Equivalent staff surveys are also useful > happy staff = happy customers!
  • 21. Step 4: Develop customer service standards and a programme toprovide customer satisfaction and help build loyalty• Develop customer service standards that reflect the findings in your survey results• Even for a small business, a few basic standards will contribute to better customer service• Some pointers: Involve customers and staff, state standards clearly and document them, link standards to company goals, make them achievable and easy to understand, develop a culture, review standards…
  • 22. Step 5: Find out where your customers are…• Do you interact face-to-face or over email or through the post?• Do you know where your customers would rather do business with you?• Have you changed how you interact with customers over time?
  • 23. Understanding your customer• Understanding customers is the key to giving them good service. To give good customer care you must deliver what you promise.• Good customer service can positively effect customer loyalty• Three key ways to understand your customer1. put yourself in their shoes and try and look at your business from their point of view2. collect and analyse data in order to shed light on their buying behaviour3. simply to ask them what they think
  • 24. Customer Behaviour: Is your product any use to me? Recognise Search for Evaluation Use product Need or information all options Purchase or service Problem or solutionYour customer has a problem.• Do you know what it is?• Do you know how to solve it?• Does your solution really work?• Can you do it better than your competition?• Tell them what to do about their problem
  • 25. Data - “Data is the new oil”• Get data and use it!• Only relevant data• Even old data can be useful• Use existing customer information where possible• How to get new data? E.g. Newsletter sign up for new and existing customers, competitions for new customers, events etc.• Data Protection legislation - http://www.theidm.com/marketing-training/courses/data- protection-in-practice/
  • 26. PART 2Messaging:Talking to your customers
  • 27. Let your messages do the talking• Mission statement• Tagline• The elevator pitch• Emails• Phone• Sales and marketing material (leaflets, website)• Press releases
  • 28. Messaging: Talking but more importantly listening to youraudiences• Many methods you have for learning about customers (surveys, focus groups, phone questionnaires)• Sometimes the simplest approach is just to talk to them!• Some organisations are afraid of what theyll find when engaging customers directly• Listening to your customers will provide you with the tools to speak directly to their wants and needs
  • 29. A snapshot of what the public think of credit unions?The below comments were posts made after seeing the Dragonsavers video:• Be great if everyone in Britain used credit unions instead of high street banks. Peoples money being used as it should be, not being gobbled up in the dark arts , corruption, charges and bonus payments of the mainstream financial system.• I like the idea of CUs and looked into joining my local CU. However, I found it very hard to contact them by phone and the only weekly opening they have is during working hours. I know that deposits at CUs are protected by the deposit protection scheme just like banks but Im not sure Im comfortable with depositing money where I cant get it back easily.• I see from the dragonsavers website that loans charge 28% apr - that doesnt seem too affordable to me.• and the interest / dividend on savings is only 1.5%, plus savings require 7 days notice for withdrawal.• he point from the video was that although the credit union offers an alternative to higher interest loans, loans arent really their main focus. It is the community aspect, the volunteering, the education of its members in better personal finance and so on that is worthy of investigation.• There are many credit unions who offer (more or less) full banking facilities to their members; after all why should someone not have access to their money, in the way that a bank customer has access, because they are on low income and cannot get a bank account.• Its way more affordable than the 4000% apr - and more - that payday loan companies such as Wonga charge.• CUs more than just lending money. Theres the community aspect, the fact that they have no fat-cat executives and shareholders.
  • 30. Messaging: define your USP• Unique Selling Proposition• Helps customers save time by defining what makes your product or service different• Can be used for every product or service
  • 31. Messaging: 6 tips to forming an effective marketingmessage [Practical]1. Capture the attention of your target market with a headline that clearly defines who you are talking to. If you are selling to retirees your headline might be something like, "If you are 65 or older.“2. Identify the problems, symptoms, issues, needs and wants of your target market. You must start with where they are and then move them to the action you want them to take. To continue our example, if you are looking for retired people to volunteer time to a cause your sub-head might read, " And looking for a way to make a difference in the lives of others".3. Provide a brief description of the product. This is the features of your product or service. Be sure you describe features that matter to the target market you are communicating with and that you describe them from the target markets prospective. In other words, talk about what your customer is buying - not what you are selling.4. Describe the benefit and the value that the customer will derive from purchasing your product or service (or from taking the action you want them to take). Again these benefits must be pertinent to the customer group you are selling to.5. Give your message credibility. This could include testimonials, case studies etc.6. Specifically state the action you want the recipient of your message to take. For example, "Pick-up the phone now and call…to register" is much more likely to lead to action than simply giving a telephone number and assuming that if the person wants to register they will call the number. Whenever possible, you will also want to offer multiple ways for people to take action (i.e. phone, email, fax, regular mail, and website).
  • 32. PART 3The channels
  • 33. What are your key channels?• Website• Social marketing (using Twitter, Facebook, YouTube)• Direct marketing• Advertising (online and offline)• Events• Affiliates (other similar businesses)
  • 34. Recreating your „shop‟ onlineYour Website• Dressing the shop: Look and feel• Stock room: content is king• Stacking the shelves: Organising your content• Shop floor: Determining functionality• Signage: Helping your customers find you• CCTV: What are your customers doing?
  • 35. Organising your web contentLife isn’t easy –5 top tips to make life easier for your users• Create a clear visual hierarchy• Take advantage of conventions• Break pages into clearly defined areas• Make things obvious and clickable• Minimise noiseMake navigation really easy!
  • 36. What should your website do?Convert!1. Get people to the site: SEO, banner ads, PPC, affiliates, targeted emails, blogs, social media, offline advertising, press coverage, point of sale promotion, flyers2. Persuade them to take the desired action: understanding buyer behaviour, clear call to action3. Build a lasting relationship to increase the lifetime value of the customer: earn their trust, anticipate their needs, reward them
  • 37. Finding your website• SEO or Search Engine Optimisation• Pay per click advertising• Affiliate or referral traffic
  • 38. Website – example
  • 39. Website – example
  • 40. Website – example
  • 41. E-mail marketing1. Get permission2. Plan your campaign3. Call to action4. Links5. Subject line6. Design7. Targeting8. Experiment9. Deliverability10. Measurement
  • 42. Social Media• Twitter• Facebook• YouTube• Flickr• Prezi• Slideshare• SoundCloud
  • 43. Social Media: Twitter for businesses• Share• Listen• Ask• Respond• Reward• Champion your customers/followers• VoiceAre you tweeting today? #CUSummerSchool
  • 44. Q and A• Anything I haven‟t covered that you would like me to address?
  • 45. Thank you...• If you ever want some advice, don‟t hesitate to contact us.

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