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Driving Growth Through Marketing: Webinar Presentation from Part 1 of the Accelerating Your Business Growth Webinar Series

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This is the presentation from Part 1 of the free webinar series, "Accelerating Your Business Growth": "Driving Business Growth Through Marketing", presented by AnyMeeting together with Comcast Business and SCORE.

This presentation and associated webinar is designed to help small business owners and marketers:

*Maximize customer reach and retention with tools and tips on social media, online marketing, public relations, advertising, event marketing and more.

*Learn how to create "raving fans" and prepare their business and team to execute for growth.

Featured Speaker Bob Paino was partner in a mid-size boutique advertising agency in New York City for over 37 years specializing in travel, consumer products and business-to-business accounts.

Watch the full webinar recording here: https://www.anymeeting.com/WebConference/RecordingDefault.aspx?c_psrid=E951DA84814A38

View all past and upcoming webinars here: https://www.anymeeting.com/webinars

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Driving Growth Through Marketing: Webinar Presentation from Part 1 of the Accelerating Your Business Growth Webinar Series

  1. 1. web conferencing for small business Accelerating Your Business Growth Webinar Series Presented by: Guest speakers: Bob Paino, SCORE Mentor, VP Austin Chapter Part 1 of 3: Driving Growth Through Marketing
  2. 2. Your Presenter Robert Paino SCORE Certified Mentor Austin, Texas 2
  3. 3. Identify Your Marketing Goals 3
  4. 4. Identify Your Marketing Goals Have Your Business Needs Changed? • Target customers – Existing customers – New customers • Product or service mix • Price point • Budget • Sales channel 4 Karen Bevels
  5. 5. Identify Your Marketing Goals Market Research Understand your target market • Size • Income level (consumer) • Sales (business) • Purchasing habits • Demographics • Purchasing channels • Geographic location 5 Surendra N. Kumar, Ph.D.
  6. 6. Identify Your Marketing Goals Market Data Sources Your Direct Research: • Customer surveys (SurveyMonkey.com, Zoomerang.com) • Internet research • Social media • Focus groups • Conversations 6
  7. 7. Identify Your Marketing Goals: Activity Market Data Sources This grid can be used once you’ve done some market research. If you can, fill in the first column. Can anyone already describe a target market of theirs? 7
  8. 8. Identify Your Marketing Goals Understanding Market Share 8 Market Share Portion of the Market That Your Business Obtains • Measured by dollars, units or percentage • Monitor market share regularly • Adjust marketing strategy accordingly
  9. 9. Identify Your Marketing Goals How Are You Pricing? You can vary prices in accordance with the market’s expectations to achieve your profit goals 9
  10. 10. Identify Your Marketing Goals Is Your Brand Clear? Branding is not the same as marketing. Branding is the image, logo and positioning of the product or service. 3 steps to brand creation: 1. Identify unique selling proposition 2. Understand target market 3. Communicate brand consistently 10 Hisao & Zuishu Hanafusa
  11. 11. Identify Your Marketing Goals: Activity Brand Message Describe your product/service, points of differentiation and ideal customer – then put them together to create your Brand Message 11
  12. 12. Identify Your Marketing Goals Competitive Analysis Analyze the marketing methods used by your competition. Would similar methods work for you? 12
  13. 13. Evaluating Your Business 13
  14. 14. Evaluating Your Business Return on Investment Always assess your ROI for your marketing budget • Set measurable goals • Measure results – Marketing effort that generated the sale – Survey customers • Adjust marketing plan accordingly 14
  15. 15. Your Marketing Options 15
  16. 16. Your Marketing Options Is It Right for You? Not every marketing strategy is right for every business When evaluating the following options, ask: • Will this help achieve my goals? • Will this reach my target customer(s)? • Does this fit my budget? (Typically 3%-10% after 1-3 years) • Do I have adequate staff to implement? 16
  17. 17. Your Marketing Options Marketing Methods & Tools: - Advertising: radio, TV, newspaper, magazine, direct mail, yellow pages, online - Public Relations (PR): print, radio, TV, online - Collateral :business cards, tri-folds, stationary, flyers - Online: website, newsletter, emails, mobile, rating and review sites - Social Media: social networks, geo location sites, group deal sites 17
  18. 18. Marketing Collateral 18
  19. 19. Creating Marketing Materials Marketing Materials Do your marketing materials need a makeover? Do they still reflect your brand? • Logo • Signage • Business cards • Brochures • Website 19
  20. 20. Advertising 20
  21. 21. Advertising Offline Advertising Options • Print (newspapers, magazines, community publications) • Radio • Cable TV • Direct mail (postcards, letters) 21 Erma Kubin-Clanin & Dr. Rene Clanin
  22. 22. Advertising Online Advertising Options • Link exchanges • E-mail newsletter advertising • Pay-per-click (PPC) • Banner ads 22
  23. 23. Public Relations 23
  24. 24. Public Relations Understanding Public Relations Public relations is a means of generating attention from the media that can be as effective as advertising in building awareness of your business 24 Jennifer Behar
  25. 25. 25 Online Marketing
  26. 26. Online Marketing Benefits of a Business Website • Builds awareness • Helps customers find you • Builds credibility • Drives sales • Customer service • Additional sales channel • National/global reach • E-commerce 26
  27. 27. Online Marketing Principles of Web Design • User-focused • Simple to navigate • Direct users to take action • Consistent with your marketing message 27 John Christakos, Maurice Blanks & Charlie Lazor
  28. 28. Online Marketing Search Engine Optimization SEO = driving traffic to your site via organic search results • Create quality content • Use targeted keywords • Measure results 28 Dr. Lynn McMahan
  29. 29. Online Marketing Web Analytics Web analytics can measure: • Number of visitors • Number of page impressions • Average visit length • Most popular site entry pages • Where users come from (sites or search engine phrases) • Number of inquiries, leads or sales generated • Conversion rates • Total sales volume online • Average purchase per online customer Use analytics to determine if your site is achieving your goals 29
  30. 30. Online Marketing E-mail Marketing Ways to get e-mail addresses: • Opt in • Sign up in-store • Offer incentives • Privacy policy • Barter or buy lists E-mail examples: • Newsletter (monthly, weekly, daily) • Sales or specials: Weekly or as needed • Announcements • Event invitations 30 Rupa Bihani Shah
  31. 31. Online Marketing Mobile Marketing Mobile marketing = using cell phones and other mobile devices to market to customers • 91 percent of U.S. population owns a mobile phone* • More than 25 percent of those are smartphones** • Good for local businesses • Reach customers on the move *Source: CTIA **Source: ComScore 31 Joe Jackson
  32. 32. Online Marketing Mobile Marketing Methods • SMS or MMS marketing: Text or photo messages sent to customers’ phones • Mobile banner advertising: Banner space on a site that is mobile-device-ready • Mobile local search: Having your business pop up when someone is looking for a local business • Mobile apps: Creating a smartphone application to promote your business • Mobile paid search: Top 4 paid results show up • Is your site mobile-friendly? Check at mobiReady.com 32
  33. 33. Online Marketing Rating and Review Sites Feature customer reviews and ratings of businesses 33  Bing Local  CitySearch  Google Places  Insider Pages  Local.com  Merchant Circle  RatePoint.com  Yahoo! Local  Yelp! Don’t forget niche sites for your industry, region or city
  34. 34. Online Marketing Getting Started with Ratings and Reviews Claim your listing and optimize it with: • Photos • Description of business • Maps/directions • Coupons/special offers • Tracking/analytics 34 David Lomakin
  35. 35. Online Marketing 35 Monitor Accounts • Google alerts • Paid tracking services • Manually visit sites Respond to Negative Reviews • Reputation management Convert Users to Buyers • Put reviews on your site Learning Tool • Use analytics • Learn from reviews Maximize Ratings and Reviews
  36. 36. Social Media Marketing 36
  37. 37. Social Media Marketing Social Media and Your Business Social media facts: Fastest-growing communication technology among consumers and business users Projected 3.6 billion users by 2014* To get started, set your goals: Increase sales Drive traffic to your site or store Learn about competitors Find potential partners *Source: Radicati Group 37 Doug Zell
  38. 38. Social Media Marketing: Activity Social Media Overview • Review the Social Media Overview 38
  39. 39. Social Media Marketing Social Media Resources Start with each site’s free social media analytics tools Other tools include: 39 Manage Your Twitter Activity • Cotweet.com • SocialOompth.com • Tweedeck.com Manage Multiple Social Media Accounts • Hootsuite.com • NutshellMail.com • SproutSocial.cm Keep Up With Social Media News and Trends • Mashable.com
  40. 40. Social Media Marketing Social Media Time Commitment • Time requirements • Management of updates • Frequent changes required • Learning curve for effective use • Deciding what is appropriate for the media 40
  41. 41. Event Marketing 41
  42. 42. Event Marketing 42 Set goals Plan event Promotions at events Invite partners/ sponsor s Publiciz e/ market Collect custome r data Thank attendee s Follow up Steps to Hosting an Event
  43. 43. Event Marketing Sponsoring an Event • Good promotional tool for businesses with local customers • Options include sports teams, charity events, schools, races, fairs • Investigate event organizer To consider: • What will you give? • What will you get? 43
  44. 44. Cause Marketing 44
  45. 45. Cause Marketing Cause Marketing Facts • Many customers are conscious of social responsibility • Products associated with a good cause see up to a 74 percent boost in sales compared to non-cause- associated products* • Women, millennials especially cause-conscious • Key causes: Green, education, disaster relief, disease research *Source: Cause Evolution Survey 45
  46. 46. Cause Marketing 46 Choose a relevant cause Investigate cause Decide level of support (volunteering , contribution, selling products) Understan d tax concerns Publicize your cause Be authentic 6 Steps to Cause Marketing
  47. 47. Creating “Raving Fans” 47
  48. 48. Creating “Raving Fans” Why Customer Retention Matters • As your business grows, retaining existing customers is key to success • It costs 5 times more to find a new customer than it does to keep one* • Loyal customers can refer other customers to your business *Source: Gallup 48
  49. 49. Creating “Raving Fans” Customer Loyalty Programs Keep customers coming back with loyalty programs that can include: • Loyalty cards • Geolocation websites • Discounts and special offers • Events • Giveaways 49 Atul Patel
  50. 50. Creating “Raving Fans” Customer Service Customer service is key to repeat business. Are the following aspects of your business meeting customers’ expectations? • Physical location • Website • Phone • Your staff • Questions, problems, answers • Customer feedback • Post-sale follow up • Secret shopper 50 Katrina Markoff
  51. 51. Next Steps 51
  52. 52. Next Steps • Complete the Target Market Data Worksheet • Create a marketing plan for the next 12 months that reflects your new marketing goals and explains how you will achieve them • Review the With Your Mentor handout for topics to discuss with your mentor Visit www.score.org for more information about other SCORE resources
  53. 53. Good Luck! 53
  54. 54. Q & A web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series
  55. 55. Next in Series: Strategies to Boost Your Sales Tuesday, November 10, 11am Pacific Time Register at anymeeting.com/webinars web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series
  56. 56. Thank You! web conferencing for small business Presented by: Accelerating Your Business Growth Webinar Series

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