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Winning Marketing Plans for Arkansas Small Businesses


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Powerpoint provided to Jonesboro Arkansas small business owners as part of a Write a Winning Marketing Plan workshop on Tuesday, February 5th at the ASU Delta Center for Economic Development by the ASU Small Business and Technology Development Center.

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Winning Marketing Plans for Arkansas Small Businesses

  1. 1. CREATE A MARKETING PLAN FOR THE 21ST CENTURY THAT WORKS! 7 Sentence Marketing Plan to Stay on TRACK Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center
  2. 2. THE ASU SBTDC• Training• Consulting• Financial Analysis• Market Research• Loan Package Development• Search Engine Optimization © ASBTDC 2011 All Rights Reserved
  3. 3. IN YOUR PACKETS• Attendee Record• Copy of Presentation• Handouts• Evaluation Form• REQUEST FOR COUNSELING FORM © ASBTDC 2011 All Rights Reserved
  4. 4. GETTING ACQUAINTED• Please introduce yourself• Please tell the group about your business• Products/services your business provides• One expectation for today‟s seminar © ASBTDC 2011 All Rights Reserved
  5. 5. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  6. 6. FIRST WHAT IS MARKETING? Businesses have only two functions:  INNOVATION  MARKETING The ART of getting people to change their minds THE TRUTH MADE FASCINATING Your Chance to help your customers SUCCEED BUILD LASTING RELATIONSHIPS MARKETING IS MOTIVATION!!!!!!
  7. 7. Marketing is like flossing your teeth, if you don’t do it everyday you will have pain and agony down the road.
  10. 10. VALUE PROPOSITION 2-3 Sentences that DEFINES you, your product and services…. THAT DIFFERENTIATES YOU from the COMPETITION.. In a way that MATTERS to your TARGET MARKET More on creating a value proposition AND real life examples at our Storify article Stand Out from the Herd with a Value
  11. 11. FUNDAMENTALS 0F GOOD MARKETING Break “My World” into Market Segments KNOW the RIGHT Target Market(s) KNOW the RIGHT Communication Channel(s) KNOW Target NEEDS and WANTS CRAFT a COMPELLING MESSAGE KNOW how to ANALYZE results KNOW good TIME Management
  12. 12. THE STORY YOU HAVE A GREAT STORY TO TELL! What was your FAVORITE Fiction Story?
  13. 13. MARKETING CYCLE Researc h Review Plan Create © ASBTDC 2011 All Rights Reserved
  14. 14. RESEARCH• SWOT Analysis• Benefits• Competitive Advantage• Target Markets © ASBTDC 2011 All Rights Reserved
  15. 15. SWOT ANALYSIS Strengths Weaknesses Opportunities Threats © ASBTDC 2011 All Rights Reserved
  16. 16. Market Intelligence Services forArkansas Businesses Herb Lawrence, ASU Center Director Small Business and Technology Development Center
  17. 17. BENEFITS CONNECT NOT FEATURES What does a 52 Chevy and Dinah Shore have to do with Cutting Edge 21st Century Marketing? You Tell Me!
  18. 18. FEATURES BENEFITS Professional Consulting  Improve Sales/Revenues  FREE  Reduce Expenses  Confidential  Make More Money  Variety of Areas  Have a Better Life Cutting Edge Market Research Low-Cost Training WorkshopsSBTDC FEATURES AND BENEFITS
  19. 19. FEATURES BENEFITS 1.  1. 2.  2. 3.  3. 4.  4. 5.  5.YOUR FEATURES AND BENEFITS
  20. 20. COMPETITIVE ADVANTAGE• Many of your competitors offer the same benefits as you.• However, you have benefits that are unique to your business.• These are your competitive advantages. © ASBTDC 2011 All Rights Reserved
  21. 21. TARGET MARKETS• “Everyone” is not a target market• People with the desire and ability to buy your product/service• Consumer vs. Organizations © ASBTDC 2011 All Rights Reserved
  22. 22. REALITY4%Customers Your 92% DON’T CARE! 4% ARE INTERESTED Business
  23. 23. 4% CUSTOMERS 68% of Business is LOST due to Customers being Ignored AFTER the follow up Loyal Customers: More Transactions Buy more Refer
  24. 24. CONCENTRATE OF 4% WORK to Maintain Customer Contact Develop systematic follow up plan MOST DEADLY ENEMY: Apathy After the Sale Example of Follow up: 1 Week E-mail thanking for purchase  1 month Letter or CALL about satisfaction  3 Month recommend connecting with first purchase  6 Month Offer something new  1 Year: Customer Anniversary Card
  25. 25. EXERCISE What are your competitive advantages?
  26. 26. EXERCISE What are your target markets
  27. 27. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  28. 28. LET’S TAKE A BREAK!
  29. 29. FINDING THE CHANNELS Advertising:  Challenges  Can be Costly  Newspapers  Repetition KEY  Magazines  Television GOLDEN  Radio  Direct Mail RULE: It will take an average of  Telemarketing 27 TOUCHES for your  Trade Shows advertisement to be noticed by consumers
  30. 30. CHANNELS
  31. 31. SO MUCH NOISE
  32. 32. BACK TO REALITY….4% Are or havebeen Customers 92% DON’T CARE! Your 4% ARE INTERESTED Business in WHAT YOU SELL
  34. 34. ON-LINE MARKETINGYour Customers Are Searching For You90% of consumers SEARCH OnlineTo find information about businesses.BUT only 52% of Small Businesses have a website!
  35. 35. WHY CUSTOMERS SEARCH ON LINE 83% Consumers use Search Engines for specific brands and products 80% Search for specific product or brand before buying ON-LINE 78% do Info search queries after seeing advertisement or brand elsewhere 76% Search about specific brands or products before purchasing OFF-LINE 78% Search to find BEST PRICES on product 74% Search to find WHERE they can purchase
  37. 37. FEEDING THE CASH REGISTEREmail BLOGLocal Off-LineSearch Web Site
  38. 38. GETTING THE WORD OUT Spread the word on the RIGHT Channels Post it on a site that search engines can index Where we create content to FEED our BlogCreate Content in a Form Customers Want
  39. 39. CREATING AN ONLINE PLAN STEPS  Pre-planning  Listento the conversations  Create TARGET profile  Set Specific Goals  Join Conversation  Measure Return
  40. 40. STEP 1 PREPLANNINGWHAT ARE YOUR CURRENT CHANNELS? E-Mail? Direct Mail Newsletter Websites s
  41. 41. STEP 2 LISTEN TO THE CONVERSATION  Secure your brand on social platforms  Blogs, twitter, Facebook, LinkedIn  Usernames unique  Try to be consistent  Set up monitoring platforms  Google Alerts   Technorati  Twitter Search
  42. 42. STEP 3 CREATE TARGET PROFILE  Find KEY attributes by Listening  Chart out their presence in social media  Market Segmentation  Demographic  Geographic  Psychographic  Behavioristic  Continue to gather customer information along the way
  43. 43. Pinterest 2012 Stats and Figures…Plus How to Leverage PinterestWe love to Pin Interesting information at the ASU SBTDC Boards
  44. 44. STEP 4 SET SPECIFIC GOALS Brand Awareness/Advocacy Increase Traffic/Opt-Ins Business Partnerships Search Engine Results Generate Leads Reduce CRM Costs Increase Revenues
  45. 45. STEP 5 – JOIN THE CONVERSATION Establish an Editorial Calendar  Choose schedule for days you will post  Keeps on Track & Organize Content  Consistency  Helps when you need Content Ideas
  46. 46. STEP 6 – MEASURE ROIWHAT IS ROI? Non-Financial:  Visitors  WOM  Page Views  Fans & Followers FINANCIAL  Sales  Revenue  Transactions  Coupons
  48. 48. EXACTLY WHO USES SOCIAL NETWORKS? ARETHEY MY POTENTIAL CUSTOMERS? Get detailed user data for 2012 at the ASU SBTDC Pinterest Site at our Social Network Stats 2012!
  49. 49. MONITORING TOOLS Listen to the conversations! Read detailed “How To” set up at our storify posts
  50. 50. MONITOR FOR: Your business or organization Your Competition Your product or service Industry
  51. 51. INDUSTRIAL ESPIONAGE Follow your competition on social media  See what networks they use  Evaluate how they connect  Evaluate “value” they add to customers  Reactions of followers, fans, subscribers, etc. STEAL What works! AVOID what isn‟t working
  52. 52. WHAT IS GOOD CONTENT Educates Informs Entertains Provides Value Builds Trust Creates Relationships…then SELLS……
  53. 53. HOW TO SPREAD CONTENT Video Images, pictures – Articles Infographics eBooks/White Papers Webinars Podcasts Coupons/discounts/special offersKnow how subscribers in different networks PREFER to receive yourcontent
  54. 54. TOOLS TO CREATE CONTENT upload your PowerPoint, word documents, pdf files, brochures, even video online to share with your audience Video creation and sharing tool that allows you to upload images and short video clips, add text, then mix with a great music library to share with your fans. Online curation site bring information from Google, Facebook, Twitter, YouTube, Instagram and more. Perfect for quick creation of information in appealing format. YouTube – Fits as both a support tool and as its own social network. Shoot video from anywhere, upload to YouTube and share on your sites. Get more information about Slideshare, Animoto and YouTube at our Storify article “Tools to Create GREAT Content”
  55. 55. TOOLS TO SAVE TIME Facebook Page SchedulerRead all about these and other scheduling tools at our Storifyarticle “Scheduling Tools for Beginners”
  56. 56. CROSS CHANNELS Social and Traditional are Combined for SYNERGY Posting WHERE your potential Customers are Understand „NEW RULES” for Social Media Marketing SOCIAL MEDIA is NOT easy or FAST.
  57. 57. HOW CUTTING EDGE MARKETERS WIN1. Research the Marketplace2. Write a Benefits List3. Select Proper Marketing Weapons4. Create Your Marketing Plan5. Create a Marketing Calendar6. Look into Fusion Marketing Partners
  58. 58. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
  59. 59. CONTACT THE ASU SBTDC E-Mail or Website: ASU Small business Blog http://www.asbtdc- Facebook Facebook Twitter: LinkedIn OR CALL ME: (870) 972-3517 or cell 897-5125