This document provides an overview of marketing concepts and best practices. It defines marketing as "the art and science of entertaining, engaging, delighting and informing your target market clients in a way that drives results that tie back to your organizationʼs goals and objectives." It discusses differentiating a product, the importance of branding, developing a marketing plan with objectives, audiences, messages and tactics, and metrics for measuring effectiveness such as website traffic and new customers. The document emphasizes the importance of determining why a product matters to potential customers.
7. McKinseyʼs definition:!
Marketing is the art and science of
entertaining, engaging, delighting and
informing your target market clients in
a way that drives results that tie back
to your organizationʼs goals and
objectives.!
Marketing is a process, not a product.!
9. Letʼs start with you!
• Who are you?!
• What do you do?!
• Why does it matter?!
10. Re. Differentiation…!
Our brains filter out irrelevant info
and let in whatʼs different and
useful. So remind me, why does
your product matter?!
--Marty Neumeier!
12. Re. Your Brand… !!
Your brand is not what you say it is.
It is what they say it is.!
--Marty Neumeier!
13. Re. Charismatic Brands…!
A charismatic brand is any product,
service or company for which
people believe there is no
substitute. Any brand can be
charismatic…even yours.!
--Marty Neumeier!
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15.
16. Marketing Plan 101!
• Objectives!
• Audience!
– Demographics!
– Psychographics!
• Message(s) !!
– Branding or calls to action (or a mix)?!
– May differ among audiences!
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18.
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20. Re. Differentiation, remember?!
Our brains filter out irrelevant info
and let in whatʼs different and
useful. So remind me, why does
your product matter?!
21. Marketing Plan 101!
• Marketing objectives!
• Strategies (print, social, special events,
sponsorships…)!
• Tactics (Facebook, Evening Under The
Stars, Warrenton Lifestyle…)!
• Media plan (when and what media)!
• Budget!
• Measure & refine!!
24. Percentage of revenues.
Most talked about method of determining a marketing budget.!
Takes a fixed percentage of your revenues (all money your company brings in) and
allocates it for marketing. !
Revenue Marketing Budget !
• Less than $5 million 7–8% !
• $5–10 million 6–7% !
• $10–100 million 5–6% !
• $100–300 million 3–5% !
• More than $300 million 3-4%!
Some variations by industry:!
Retail and pharmaceuticals lead the spending, with many of these companies spending
more than 20%. !
Average across all industries is 4-6%. !
Source: ImageWorks SMB 2011!
25. Desired customer growth.
• Method of budgeting based on acquiring a
specific number of new customers.!
• Must know how much it takes you to
acquire a new customer and then multiply
that cost by the number of new customers
you want to acquire.!
26. Spend nothing. Market for free!
• Yes, there are “free” tools and resources
available, particularly online.!
• Remember: Time is money and money is
time! !
27. Putting the Plan Together!
Determined your business objectives.!
Set a marketing budget.!
Go shopping!!
28. Available Tools!
• Print Publications !
• Public Relations !
• Online Advertising!
• Direct Mail !
• Marketing Collateral !
• Outdoor Advertising !
• Website/Search Engine Optimization!
29. Available Tools!
• Blogging !
• Social Media !
• Facebook!
• Twitter!
• LinkedIn!
• Yelp!
• YouTube!
• Professional Memberships/Networking !
• Email Marketing !
• Sponsorships !
• Radio !
• TV !
• Photography !
31. Key Ad Buying Questions:!
• What is the opportunity reach?!
• What are the market demographics?!
• What is the message frequency?!
• What is the cost?!
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33. Metrics & Measuring!
• How will you determine the effectiveness
of your campaign?!
• How do you know if your message is
reaching your intended audience?!
• How do you know if the market is aware of
your brand?!
34. 5 Metrics to Track at the
Executive Level!
1) Website Grade - The great thing about
this score is that is it very easy to
understand. Visit www.websitegrader.com
and see how your site measures up to
those of your peers..
• Source: HubSpot!
35. 5 Metrics to Track at the
Executive Level!
2) Website Traffic - This is the total
number of unique visitors to your website
over a time period, usually a month. At a
high level, this gives you a sense of the
overall interest in your business, and if
the marketing programs you are doing are
working or not. What key words did your
visitors search to find you?
• Source: HubSpot!
36. 5 Metrics to Track at the
Executive Level!
3) Leads - This is the next step in the
sales funnel, and is the most important
metric for measuring your marketing
efforts.
37. 5 Metrics to Track at the
Executive Level!
4) New Customers - "How many sales
did you close this month?" is probably the
most important question you should
answer for your business.!
38. 5 Metrics to Track at the
Executive Level!
5) Customer Acquisition Cost - Many
businesses don't compute this on an
ongoing basis, but knowing the total sales
and marketing cost for each new
customer (on average each month) is
important. It gives you a good sense of
how your business is going, and if it is
getting easier or harder to grow.