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Marketing Strategy - Canary Translators Conference 2018

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Slides from the marketing strategy workshop I gave at the Canary Translators Conference 2018 in Las Palmas de Gran Canaria

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Marketing Strategy - Canary Translators Conference 2018

  1. 1. MARKETING STRATEGY Creating your roadmap to success in 2019
  2. 2. 14:15-14:45 14:45-15:15 15:15-15:45 15:45-16:30 16:30-16:45 16:45-17:05 17:05-17:35 17:35-17:50 17:50-18:00 TODAY’S ROADMAP Seminar: introduction to marketing strategy Activity: target clients Activity: internal, environmental and competitor analyses Coffee break Activity: SWOT/TOWS Activity: goal setting Activity: marketing mix Activity: branding Final Q&A
  3. 3. A statement (implicit or explicit) of how a brand or product line will achieve its objectives. The strategy provides decisions and direction regarding variables such as the segmentation of the market, identification of the target market, positioning, marketing mix elements, and expenditures. American Marketing Association WHAT IS MARKETING STRATEGY?
  4. 4. THE IMPORTANCE OF MARKETING STRATEGY ➤ It describes you who you are, what you do and how you do it ➤ It helps you define your objective(s) ➤ It helps you understand how you can achieve them ➤ It helps you make informed decisions ➤ It helps you communicate consistently and effectively ➤ It helps you track your progress and measure your success
  5. 5. THE BUILDING BLOCKS ➤ Target clients ➤ Segmentation ➤ Targeting ➤ Environmental analysis ➤ Internal analysis ➤ PESTEL analysis ➤ Competitor analysis ➤ SWOT/TOWS analysis ➤ SMART goals ➤ Marketing mix ➤ Branding
  6. 6. THE TARGET MARKET The group of consumers or organisations that is interested in the product or service, has the resources to purchase it, and is permitted by law and other regulations to acquire it. NetMBA.com
  7. 7. English to Italian Marketing translation Food, travel, tourism, hospitality MY TARGET MARKET All English-speaking companies operating in the food, travel, tourism, hospitality and marketing industries that have or are planning to have a presence in Italy or want to sell to Italian customers… …and can afford me!
  8. 8. SEGMENTATION The process of subdividing a market into distinct subsets of customers that behave in the same way or have similar needs. American Marketing Association
  9. 9. MASLOW’S HIERARCHY OF NEEDS Kent State University
  10. 10. SEGMENT DESCRIPTORS Company size Location (Inter)national presence Turnover Culture Values Mission Communication style Channels Decision-makers
  11. 11. SEGMENT DESCRIPTORS Demographic factors age, gender, life cycle stage Geographic location Social factors education, occupation, income, culture Psychographic factors attitude, desires, interests, influences, lifestyle, media
  12. 12. TARGETING Selecting which segment(s) to serve based on size, growth, competition, profitability and compatibility ➤ Mass market ➤ Differentiated market ➤ Niche market
  13. 13. KNOW YOUR CLIENTS ➤ Helps you improve your offering ➤ Helps you focus on the right channels ➤ Helps you craft your communications ➤ Helps you build or refine your brand
  14. 14. KNOW YOURSELF ➤ Who are you? ➤ What is it that you do? ➤ What is your financial situation like? ➤ Who are your current clients? ➤ What do you excel at? ➤ Are there any areas of improvement? ➤ What assets do you have? ➤ What do you need?
  15. 15. KNOW YOUR MARKET P E S T E L
  16. 16. KNOW YOUR MARKET Political Economic Social Technological Environmental Legal
  17. 17. KNOW YOUR MARKET Political Economic Social Technological Environmental Legal ➤ Opportunities? ➤ Threats?
  18. 18. COMPETITORS ➤ Who are they? ➤ What do they offer? ➤ How much do they charge? ➤ How do they promote? ➤ What are they good at? ➤ What do they struggle with? ➤ How do you compare?
  19. 19. SWOT ANALYSIS HELPFUL HARMFUL Strengths Weaknesses Opportunities Threats EXTERNALINTERNAL
  20. 20. TOWS MATRIX STRENGTHS WEAKNESSES Attacking strategy Use strengths to capitalise on market opportunities Build strengths to attack mitigate weaknesses to capitalise on market opportunities Defensive strategy Use strengths to cope with market threats Build strengths to defend Mitigate weaknesses to cope with market threats THREATSOPPORTUNITIES
  21. 21. S M A R T GOALS
  22. 22. S M A R T GOALS P E C I F I C
  23. 23. S M A R T GOALS P E C I F I C E A S U R A B L E
  24. 24. S M A R T GOALS P E C I F I C E A S U R A B L E C H I E V A B L E
  25. 25. S M A R T GOALS P E C I F I C E A S U R A B L E C H I E V A B L E E L E V A N T
  26. 26. S M A R T GOALS P E C I F I C E A S U R A B L E C H I E V A B L E E L E V A N T I M E B O U N D
  27. 27. I want to earn more SMART GOALS
  28. 28. I want to earn more SMART GOALS I want to grow sales by 30% by the end of 2019
  29. 29. I want to grow my reputation SMART GOALS
  30. 30. I want to grow my reputation SMART GOALS I want to get 10% more referrals in 2019
  31. 31. THE MARKETING MIX
  32. 32. THE MARKETING MIX Product: what service(s) do you offer? Price: based on costs? On competitors? On what clients are willing to pay? On value? Place: where can clients find/buy your service(s)? Promotion: how do you get the word out? People: who are you and who are your collaborators? Process: how do you do things? Physical evidence: what’s the end product? What are the benefits?
  33. 33. Different target group/client TARGET CLIENTS AND MARKETING MIX(ES) Different marketing mix
  34. 34. MARIA, 25 Italian graduate Moved to London to find a job Uses Facebook Trusts reviews and opinions Limited budget Informal but professional communication style
  35. 35. MARIA, 25 Product: translation of CV Place: online (via email) Price: based on costs Promotion: Facebook groups People: me Process: translation + proofreading, constant feedback, CV specialist consultation Physical evidence: English CV that got her a job in her preferred field
  36. 36. LOUISE, 38 Director of a London-based branding agency Wants to please her customers to grow her business Likes face-to-face interactions Speaks at events Very active on LinkedIn Uses a friendly, no-nonsense tone
  37. 37. LOUISE, 38 Product: website translation into 8 languages Place: online + office Price: based on value & customer Promotion: networking People: me + team Process: analysis, translation + proofreading + final QA, one point of contact Physical evidence: website in 9 languages, happy client
  38. 38. JACK, 56 Lawyer in an international firm Wants to become partner Great attention to detail Hates technology Trusts his colleagues Formal, professional tone
  39. 39. JACK, 56 Product: certified contract translation Place: his office Price: based on value Promotion: word of mouth People: me + team Process: legal translation + proofreading + certification Physical evidence: certified translated document (print copy), deal signed
  40. 40. ➤ A brand is a name or a symbol, or a combination of the two, that identifies and differentiates companies and products from those of competition (American Marketing Association, 2013) ➤ A brand is also the attributes and meanings that consumers attach to that name or symbol, from the quality and benefits of the product or service sold, to more complex values and beliefs. it is those meanings and attributes that can ultimately give the business a competitive advantage (Keller, 2013) WHAT IS A BRAND?
  41. 41. FUN HAPPINESS FAMILY TRADITION FRESHNESS CHILDHOOD FRIENDS JOY PLEASURE TOGETHERNESS CHRISTMAS QUALITY
  42. 42. Branding is the process that companies use to attach the desired meanings and attributes to a name or symbol through marketing programmes and other activities Keller, 2013 A brand, when carefully managed to stimulate positive reactions in the consumer, can bring value to the company Keller, 2013 ©2017 WHAT IS BRANDING?
  43. 43. Brand = visual identity + attributes/meanings THE BRAND
  44. 44. THE BRAND NAME TAGLINE LOGO COLOUR PALETTE FONTS IMAGES WHO YOU ARE WHAT YOU DO HOW YOU DO IT BENEFITS WHAT YOU SAY HOW YOU SAY IT VISUAL IDENTITY FEATURES/MEANINGS
  45. 45. THE BRAND NEEDS TO BE… ➤ Authentic ➤ Relevant ➤ Consistent
  46. 46. Measure everything DON’T FORGET TO…
  47. 47. ACTIVITIES
  48. 48. 1. TARGET CLIENTS
  49. 49. 2. INTERNAL ANALYSIS
  50. 50. 3. EXTERNAL ANALYSIS
  51. 51. 4. COMPETITORS
  52. 52. 5. SWOT/TOWS
  53. 53. 6. GOAL SETTING
  54. 54. 7. MARKETING MIX
  55. 55. Social media Website Blog Forums Newsletter Direct email PPC Cold calling Leaflets Brochures Trade shows Conferences Public speaking Networking Mail drop Sponsorship PR Advertising PROMOTION
  56. 56. 8. BRANDING
  57. 57. MARTINA@3P-TRANSLATION.COM 3P Translation @martina3p 3p-translation.com THANK YOU!

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