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Marketing for success

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The essentials of marketing that will keep your business customer centric and your promotions effective.

Published in: Business, News & Politics
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Marketing for success

  1. 1. Sponsored byFor GrowingBusinesses
  2. 2. 4 x 4 Plan• 4 hours personal development Sponsored by• 4 hours set & review SMART objectives• 4 hours mentoring another business• 4 hours insource another skill
  3. 3. Marketing for
  4. 4. Marketing for Would You?Invest 15% of annual income as an Amateur Know how to get a 400% ReturnBe surprised to see your investment shrink?
  5. 5. Marketing for The Marketing Plan What is it? Marketing is the management processresponsible for, identifying, anticipating, andsatisfying customer requirements, profitably. Chartered Institute of Marketing
  6. 6. Marketing for The Marketing PlanStrategic marketing can easily double your profits in a year Businesses are NOT different please be willing to try things that have worked elsewhere Losers make excuses - Winners take responsibility or less
  7. 7. Marketing for Advanced Marketing for Maximum Profits Relate Create Determine Identify & Understand BuildPassion key Build Create Target Your buying customer infrastructure relevant product or Customer behaviour & value to operate brand service competition triggers and sell Promote MonetiseCommitment Build Send Do follow promotions promotions Fulfil with up Sell Deeper Sell Broader partners measure Excellence promotions affiliates responses
  8. 8. Marketing for The Marketing Plan Any kind of business success begins with customersFocus and Pay constant attention to Customers• Who are they?• What motivates them?• Who do you want them to be? – This choice will determine the upper limits of your wealth • The speed, The ease, The marketing strategy, 6 figure or 7 figure income
  9. 9. Marketing for Who is your customer?• What interests your customers?• What is their buying behaviour – Have they bought recently, do they buy frequently? – Do they have the power to decide?• What is their wealth – Is a £500 pen ten times more difficult to sell than a £50 pen? – 5 – 10% of customers are willing to spend 5 times more than the average• Demographics – Your best customers have certain demographics in common • Identify them – Profile them• Geography – Is your market, your village, town, city, region, country, world
  10. 10. Marketing for Who do you want your customer to be?• You haven’t asked because…….• Believe and the only issue is time – When will it happen?• There is no right answer – But, there is a more profitable answer• Customers are the source of your wealth – Without customers there is no Joy to multiply• Source of Joy – Who are they? – How many of them are there? – Where are they? • How do you find them online There are multiple customer sources – Exploit them systematically
  11. 11. Marketing for Test Multiple Marketing Approaches• Most businesses are built on just one method of business development – Often referrals There are multiple marketing methods – Test them systematically
  12. 12. Marketing for Test Multiple Marketing Approaches• Most businesses are built on just one method of business development – Often referrals There are multiple marketing methods – Test them systematically
  13. 13. Marketing for The Most Dangerous Number in Business• There are many businesses 100% dependent on Google Adwords – Google closed 30,000 adwords accounts in December 2009 Google decided by computer algorithm which to close The Risk of ‘1’ Never take huge risks There are multiple marketing methods – Test them systematically
  14. 14. Marketing for Marketing Techniques are NumerousDirect Sales, Trade Shows, Joint Ventures, Affiliates, Telemarketing, InternetAdvertising, Display Advertising, Sponsorship, Direct Mail, Pay-Per-Click, PR, SEO, Social Media…………• All businesses are unique, and no business is unique• Test Small• Test often (try something new each month)• Failure is good (Just don’t fail at the same thing twice)• Fail fast• Successful people fail more often and the most successful people fail most• When testing, only ever aim to break even – You will always improve by split testing in production – Upside is all positive There are multiple marketing methods – Test them systematically
  15. 15. Marketing for Marketing Is Currently Cheap Many big businesses are bewildered, ‘where did all the customers go?’ budgets got slashed and deals are cheap.• Test often (try something new each month) There are multiple marketing methods – Test them systematically
  16. 16. Marketing for Status and Celebrity Sells• The age of celebrity is now – Chefs (Oliver, Ramsey, et al) – Estate Agents (Phil & Kirsty) – Gardeners, Builders, Antiques Dealers………..• People crave leadership• Natural flow towards the experts – Wealth flows naturally to the top Celebrity is a ‘land grab’ – Claim it before someone else does
  17. 17. Marketing for Status and Celebrity Sells• It is there to be claimed, just grab it• It allows super premium pricing• How to get status• Just decide to do it• Tag line ‘The leading/top/world’s most…..’• Identify yourself as an authority• PR• Include in all marketing• Emails, video, reports, information products Celebrity is a ‘land grab’ – Claim it before someone else does
  18. 18. Marketing for Status and Celebrity Sells• Be seen with other celebrities and share it with your customers• Get celebrities to your personal celebrations then share the pictures with your customers• Celebrity connection• Drives up the price• ‘status pricing’• Add a super premium offer• 1-3% of the market in every market will pay 20 to 50 times more• Leader breaks free of price competition• There is only one market leader and it tough to overtake Celebrity is a ‘land grab’ – Claim it before someone else does
  19. 19. Marketing for Status and Celebrity Sells• People are trained to look up to authority/celebrity/status• Ex-prime ministers, footballers, titled gentry• Leader builds scarcity• The only thing that sells to the super rich• Restrict mobile #• The world’s10 richest people do not own a mobile• Contrast with typical business owners• Anonymous, run ragged, in debt, going bust Celebrity is a ‘land grab’ – Claim it before someone else does
  20. 20. Marketing for The Key Question • Which question should a business owner ask? – ‘How much can I afford to spend on marketing/advertising?’……….. Or, – ‘How many customers can we buy’ • 3 ways to buying customers – Lead generation – Self liquidating offers – Buying customers at a lossThe purpose of a customer is not to get a sale, the purpose of a sale is to get a customer
  21. 21. Marketing for Lead Generation • Immediate sale does not work – Advertising response very low or nothing – Online never • Advertising does not sell – it begins a relationship – Entice people with a benefit – Offer free information – Key word for lead generation is ‘FREE’ • Reports, videos, samples, consultancy, eventThe purpose of a customer is not to get a sale, the purpose of a sale is to get a customer
  22. 22. Marketing for Self Liquidation Offer • Buy customers at breakeven – If it costs £250 to get 5 customers that earn £50 • Most, think it not worth repeating • Smart, think it is fantastic - they know they will be back Buying Customers at a Loss • Giving free trial, selling below costThe purpose of a customer is not to get a sale, the purpose of a sale is to get a customer
  23. 23. Marketing for Understand Customer Lifetime Value • Know how long you keep a customer for any given product/service – How many times will they repeat? How often? – What is each sale worth? • Marketing Budgets – Are Wrong!, Wrong!, Wrong! – Plan your cash flow, but invest all you canThe purpose of a customer is not to get a sale, the purpose of a sale is to get a customer
  24. 24. Marketing for Multiply Joy • Winning and retaining customers • Multiple target customers • Up-selling customers with additional product • Using multiple marketing methods • Continuously improving effectiveness • Investing for fantastic %age returns • Managing cash • Marketing budgets – Are Wrong!, Wrong!, Wrong! – Plan your cash flow, but invest all you canThe purpose of a customer is not to get a sale, the purpose of a sale is to get a customer
  25. 25. Marketing for

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