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Vision To Profit V2 Sept 2009
 

Vision To Profit V2 Sept 2009

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Vision to Profit is a system to enable SMEs to develop, implement and manage the growth of their businesses by using best practices in marketing. ...

Vision to Profit is a system to enable SMEs to develop, implement and manage the growth of their businesses by using best practices in marketing.

For more information contact us on info@v2p.eu

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    Vision To Profit V2 Sept 2009 Vision To Profit V2 Sept 2009 Presentation Transcript

    • tibbs.pereira@v2p.eu Marketing Is Not Mumbo-Jumbo
    • Intro  We Work „Hands On‟ With You To Deliver Business Growth  Sales, Marketing, Communications, Integration  Our Process  Profiling / Assessment  Strategy  Action Plan  Test/Measure  Consulting  Implementation  Deep engagement – we roll up our sleeves and work with our clients to get results
    • The Foundation “Because its purpose is to create a customer, a business has only two functions: marketing and innovation. Marketing and innovation produce results, everything else is a cost.”  Peter Drucker (Management Guru & Business Philosopher), “Innovation and Entrepreneurship” INNOVATORS AND ENTREPRENEURS ARE NOT ALWAYS MARKETING EXPERTS TOO
    • Marketing Planning Market Analysis Product Development and Product Validation Process Competitive Analysis Development Process Sales Process Finance Planning Resource Planning Funding Value Proposition Asset Building Brand Development Pricing Strategy Competitive Strategy / Competitiveness Channel Strategy Export Planning Cash Flow / Sales Projections Sales and Marketing Strategy Go To Market Collateral – Presentations, White Papers, FAQ, Q&A Sales Integration Sales Forecasting Sales Training Channel Recruitment and Management Pipeline Management Project Management In Market – Working WITH You Results Analysis Feedback Loop Business Operations & Processes Organisational Development Productivity
    • Marketing – Not Mumbo-Jumbo  · Understanding your customers  · Explaining how your products or services can meet their need  · Implementing the right strategies and tactics  · Managing effectiveness through measuring and testing Your Whole Business Should Be Designed Around Marketing SO DO NOT OUTSOURCE MARKETING STRATEGY
    • Results-Focused Processes Implementation Action Plan Roadmap Profiling Vision, Goals
    • It‟s Never Too Early  Market Research / Networking – Confirm Potential  Reading / News  LinkedIn Network / Groups (Startup Republic Ireland)  Twitter, Facebook, etc  Networking Events  Newsletters / blogs  Web Site  USP and Value Proposition  Targets / Customer Profiles / Segments  Value / Value Add  Differentiators / USP  Competition  Pricing Models  Business Model Figures
    • “Maturity Model” •Mapped against peer companies •Strategy, Sales, Marketing and Operations •Tailored Processes and Services to Help Your Company Grow A S S E S S M E Process and Services N T Reactive / Ad hoc Structured Advanced Optimal
    • Value Proposition  The foundation of everything you do  Incorporates USPs  Targeted at specific groups  Spin off Messaging and Positioning  Thisis then used for all activities – sales, direct mails, telemarketing, scripts, advertising, etc
    • Elements of a Value Proposition  Business Drivers: Increase sales, reduce cost, increase control, reduce risk  Metrics: Time, Cost, Size  Motivation: Should be strong enough to encourage customers to move to you. Remember your customers are busy and (hopefully) successful.  Short and memorable, communicated to everyone  I can provide you a Value Proposition guide – send me an email
    • Enhancing Your USP  Incentives  Endorsements  Free Stuff  Testimonials  Benefits vs Features
    • Implement a Sales Process  How would you handle different stages  Awareness of need / pain points  Appraisal / solutions research  Negotiation / objection handling  Purchase  Customer Service  Cross-Sell / Up-Sell  Referral  Two Things to Use:  Scripts  Role-play  Defining Your Sales Process Should Evolve, BUT Is Invaluable
    • Now - Develop Your Strategy  You Know  Who you are targeting and how they are segmented  What they want / need and your solution  Your Competition  Your Value Proposition  Messaging and Positioning  Pricing  How & where you are going to sell to them ALLOCATE A BUDGET – INVESTMENT NOT COST
    • Build and Manage A Sales Pipeline  Fill the Pipeline with Leads  Qualify these into Opportunities  Work through the Sales Process  Assign Probabilities to each Stage e.g. Qualified Lead is 10%, Waiting for PO is 90%  Refine this to get Factored Revenue Forecast  Thoroughly and Ruthlessly Review the Pipeline  Blockages  Analysewins and losses  What else can you learn?
    • Be Ruthless To Earn Loyalty Ave Deal Size Buying Frequency
    • Build Your Pipeline into Forecasts  Business Plans for the Year  Cash Flow Forecasts  Setting targets – individuals, products, marketing  Email me if you would like a sales pipeline template
    • Continuous Improvement KEY 1 KEY 2 KEY 3 KEY 4 KEY 5 Number of Conversion No. Of Transaction Profit Leads Rate Transactions Value Margin 100 X 30% X 2 X €100 X 50% Per = 30 = 60 = €6,000 = €3,000 Month Sales Sales Gross Net Revenue Revenue Strategies To Build Your Business The Value of KEY 6 KEY 7 Each Customer No. of Buying Referrals Lifetime Is €600 X 1 = Total Annual X + 3 = Lifetime So @ €3,000 Revenue Years Value: Annual Net = €6,000 = €18,000 Revenue
    • Building Your Business Now by just adding 10% to each key… KEY 1 KEY 2 KEY 3 KEY 4 KEY 5 Number of Conversion No. Of Transaction Profit Leads Rate Transactions Value Margin 100 X 30% X 2 X €100 X 50% Per = 30 = 60 = €6,000 = €3,000 Month Sales Sales Gross Net Revenue Revenue X 33% X 2.2 X €110 X 55% 110 = 36 = 80 = €8,800 = €4,840 The Value of KEY 6 KEY 7 Each Customer No. of Buying Referrals Lifetime Is €600 X 1 = Total Annual X + 3 = Lifetime @ €3,000 Revenue Years Value: So Annual Net = € 6,000 = €18,000 Just a 10% Revenue increase in each of the Keys X 1.1 = = X = = 186% of 3.3 €33,541 ! original = €5,324 €10,164 revenue!
    • Engineering Track, Test and Measure - Benchmarks Learn and Improve Try New Things FOCUS ON RESULTS, NOT ACTIVITY
    • Plan of Engagement - 1  Step 1: Vision to Profit Profiling and Analysis  Face-to-face or telephone, with email discussions  Helps with:  Purpose  SWOT analysis  Identify target markets  Value Proposition  Current and Desired State
    • Profiling – Process & Tool Profiling Tool: ~400 key questions No “mumbo jumbo” Best Practice for Sales, Marketing and Basic Management Measures level of “maturity” for a number of key areas Built for Start-ups and SMEs Dashboard: Visual “snapshot” of maturity level Assesses Current State Use to define Desired State Next snapshot measures progress Managers can assess progress ACTION-ORIENTATED
    • Profiling - Benefits  For the client:  Identifiespriority areas for development  Desired state does not have to be the highest maturity level  Enables more granular, appropriate changes  Helps to track progress  Rounded approach to business assessment and planning Year 1 (Reactive) Year 2 (Advanced)
    • Example of Profile Results Vision to Profit Profile Summary Reactive 75 Structured 21 Advanced 3 Optimal 9 V2P Summary Rating 2.31 Note: Max V2P Rating: 10 Target Rating for an SME: 7-8 •1-day Assessment Process using Vision to Profit Assessment System •Covers key indicators covering marketing, sales and business foundation •Typical profile for a start-up business •The business progresses into operations in the next 6 months •Aim should be to move from Reactive to Advanced (i.e. summary rating of 7+)
    • Next 6 Months….? Vision to Profit Profile Summary Reactive 15 Structured 21 Advanced 58 Optimal 12 V2P Summary Rating 5.70 •Clarify goals and objectives for the business (SMART) •Define key metrics to measure progress •Clear marketing plan, strategies and tactics •Sales and marketing execution
    • Business Foundation Business Foundation Reactive 13 Structured 4 Advanced 0 Optimal 2 V2P Business Foundation Rating 2.37 Main Points – Business Foundation Value Propositions for the business and for offerings need to be clearly considered and defined Clear, SMART Objectives to be set for the business Cash Flow projections to be reflected in sales targets and reviewed at least monthly Business Strategies and Tactics need to be realistic and documented
    • Marketing Foundation Marketing Foundation Reactive 23 Structured 4 Advanced 2 Optimal 2 V2P Marketing Foundation Rating 2.23 Main Points – Marketing Foundation No marketing budget identified Realistic marketing strategy and tactics to be defined and implemented No web site or online strategy Competition needs to be understood and differentiators developed CRM processes to include the channel (targets, contacts, marketing plan)
    • Sales Foundation Sales Foundation Reactive 39 Structured 13 Advanced 1 Optimal 5 V2P Sales Foundation Rating 2.33 Main Points – Sales Foundation Sales processes to be defined – uncovering opportunities, qualification, etc. Need sales collateral to support the sales effort (marketing function) Sales pipeline to be defined and reviewed as a foundation of the business – aligned to cash flow forecasts Sales skills to be developed further
    • Plan of Engagement - 2  Step 2: Action Plan and Workshops  Assess Current State, Desired State (Gap)  Then Define How to Get There (Strategy)  Alignment with Business Plan and Forecasts  Examples:  Identify or create vision, goals, exit strategy  Competitive Analysis  Value Proposition Development  Growth strategies: Leads, Conversion, Deal Size, Profit, Transactions, Referrals  Marketing and Sales Processes - Pipeline Building  Optimise relationships with customers, suppliers, channels, media
    • Business Building Strategies - Sample 1  Number Of Leads 2  Conversion Rate 3  Number Of Transactions • Channel • Improve Sales Skills • Develop a ‘Back Relationships • Make Irresistible End’ • Direct Mail Offers • Frequent Buyers • Advertising • Guarantees Programme • Telemarketing • Package Products • Cross-Sell Other • Special Events Together Products / Services • Qualified Lists • Questionnaires • Endorsements • Direct Sales • Educate • Price Inducements • Upgrades 4  Transaction Value 5  Profit Margin 6  Number Of Referrals 7  Buying Lifetime • Up-Sell To Bigger / Better Product • Reduce Overheads & Expenses 444prompters • Reward Programmes • Use • Communicate Often • • Offer Larger units Package Products • • Increase Prices Outsourcing Strategies • Two For One • New Customer • Deliver Better Service • Together Increase Price • Use No Or Low Cost Distribution To Gain Thank You Letters • Referral Fees • Loyalty Programmes • Change Product Profile  Upmarket • Efficiency & Productivity Explosive • Customer Recommendations • • Private Viewings Service Contracts • Newsletters
    • Plan of Engagement - 3  Step 3: Implementation and Review  Set up channels and customer relationships  Support client with meetings  Review Strategies and Processes Current State Desired State
    • Two Delivery Models  Customised Engagement:  Scoping  Assessment  Planning  Implementation  Programmes / Training:  Presentations on specific topics  Programmes  Workshops (e.g. Developing a Value Proposition) NOTE: Implementation is not tied to Vision to Profit consultants
    • Relevant Vision to Profit Offerings • Developing a Value Proposition Workshops • • Defining a Marketing Plan Defining a Sales Strategy • Managing Your Sales Pipeline • Marketing Implementation and Management Consulting • Developing and Managing a Sales Pipeline • Align and Manage Your Business for Growth
    • Outcomes  Increase in sales, build on solid foundation  Management structures in place  Return on investment  Growth justifies specialists in the workforce
    • WORKING TO MAKE YOUR BUSINESS SUCCEED  Services ready to go  Clients signed up to the programme  Your Feedback Is Appreciated!  Want to be a Guinea Pig?  Need More Information?  Tibbs Pereira (01) 810 6600 / 087 647 1017  tibbs.pereira@v2p.eu
    • THANK YOU! Tibbs Pereira tibbs_pereira@v2p.eu (01) 810 6600 087 647 1017