Frugal Marketing 101

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Guide to no money marketing. First presented to Manipal University students. Goes through the basics of a frugal approach to marketing. More details at www.nomoneymarketing.org

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Frugal Marketing 101

  1. 1. www.nomoneymarketing.org Frugal Marketing Jessie Paul http://www.flickr.com/photos/alancleaver/ 1 Wednesday 16 September 2009 1
  2. 2. www.nomoneymarketing.org When is frugal marketing required? Upstart brands take on brands that are larger, Mature Champions high Relative Marketshare more established than themselves 1. New business model challengers Laggards Challengers low 2. Old model, new market challengers low high Relative Growth Rate Wednesday 16 September 2009 2
  3. 3. www.nomoneymarketing.org Cheese or Mousetrap? Core or Surround? SURROUND CORE Vision Country of Delivery People origin Process Delivery Executive Quality Facilities Management Corporate Business Price Benefits Governance Photo Credit: Rennett Stowe Wednesday 16 September 2009 3
  4. 4. www.nomoneymarketing.org Core vs Surround Branding Vision Environment People Input Core Output Community Elements Service Impact Surround Surround Delivery Facilities Attributes Investor Returns Price Country of origin Industry Development Executive Management No Money Marketing, Jessie Paul, Tata McGraw-Hill Corporate Core Governance Elements that are directly related to service performance Service Delivery Quality Business Process Benefits Wednesday 16 September 2009 4
  5. 5. www.nomoneymarketing.org WHY NOT BUY DIFFERENTIATORS SOMEONE ELSE? Business Optimization thro business analytics & domain knowledge VALUE ADDERS – CUSTOMER BENEFITS Reliability WHY BUY Cost savings ME? Increased efficiency/ speed Ability to identify &/ capture new business opportunities TABLE STAKES •Framework/ Infrastructure: People: Methodologies: •Telecom •Domain experts • For process • Facilities •Process experts optimization WHO AM I? • Process management •Process quality SATISFICERS Physical & Data Security, Infrastructure Wednesday 16 September 2009 5
  6. 6. www.nomoneymarketing.org Flat World Trends 1. Digitization, Globalization: People are buying things they cannot see 2. The world is interconnected: Everyone is a journalist, opinion-maker and salesperson! 3. Advertising is free: But getting it is hard work 4. The market is very small: You have a target audience of one Wednesday 16 September 2009 6
  7. 7. www.nomoneymarketing.org Flat World Trends 1. Digitization, Globalization: People are buying things they cannot see 2. The world is interconnected: Everyone is a journalist, opinion-maker and salesperson! 3. Advertising is free: But getting it is hard work 4. The market is very small: You have a target audience of one Wednesday 16 September 2009 6
  8. 8. www.nomoneymarketing.org Marketing changes in the Flat World Flat World Old World Communication Free At cost Opt-in Opt out Instantaneous Lag 2-way, interactive One way Information Free At cost Easily accessible Access controlled Customers Interconnected Individuals Location-independent Location-specific No Money Marketing, Jessie Paul, Tata McGraw-Hill Wednesday 16 September 2009 7
  9. 9. www.nomoneymarketing.org Own your eco-system Government Analysts Friends & Family Employees Other Customers Journalists Decision Maker Salesperson Consumer Reports Industry Consulting Associations Firms Expert Sourcing Users Advisors Internet Academics Pundits Wednesday 16 September 2009 8
  10. 10. www.nomoneymarketing.org Leveraging resources for smart branding • Executive Branding Channels Levers Thought Leadership • Pricing PR • Country of Origin Awards • Sustainability Online presence Wednesday 16 September 2009 9
  11. 11. www.nomoneymarketing.org Create a brand Executive Branding blueprint MySpace MyBo LinkedIn Stars are created, not born Barack Obama Twitter Facebook Be accessible YouTube Have a point of view Be everywhere Photo Credit Jurvetson Wednesday 16 September 2009 10
  12. 12. www.nomoneymarketing.org Price as a differentiator Pricing is about perceived value Use Extreme Pricing – Either Low-cost or Premium Consumers associate high prices with high quality Pricing depends on ability to experiment Reproduced from No Money Marketing Wednesday 16 September 2009 11
  13. 13. www.nomoneymarketing.org Country of Origin You can CHOOSE your home country Does your “home” add value or detract? Have you invested in relationships at home? How much of national flavour is differentiating and not overbearing? Wednesday 16 September 2009 12
  14. 14. www.nomoneymarketing.org Sustainability Employees Customers All other things being equal, consumers would Waste Water prefer a “green” offering WIPRO Regulations will drive greener practices Energy Bio-diversity Community Partners Suppliers Wednesday 16 September 2009 13
  15. 15. www.nomoneymarketing.org Thought Leadership Useful Door-opener Reassurance Current Information on Allows an information on to have a non- that their developments how the latest intellectual latest trends sales business organization is that can trends can dialogue on and how it discussion on the trigger benefit their recent affects them with a cutting-edge exclusive business developments prospect stories Expert Salesperson Employees Journalists Customers Analysts Users Thought Leadership Wednesday 16 September 2009 14
  16. 16. www.nomoneymarketing.org PR Information is cheap. Insight is rare. Be contrarian Be different in the context Use controversies Swiss Spaghetti Harvest BBC Panorama, April 1, 1957 Personal touch Wednesday 16 September 2009 15
  17. 17. www.nomoneymarketing.org Awards Awards add credibility Win awards Give awards Wednesday 16 September 2009 16
  18. 18. www.nomoneymarketing.org Online Media Everyone can be a Second Life broadcaster. Free. www.wipro.com LinkedIn Build a hub-and-spoke model Wipro You can’t always “own”. Rent. Co-branded Twitter portal Instant responses. YouTube Everyone can have an opinion. Trust is the differentiator. Wednesday 16 September 2009 17
  19. 19. www.nomoneymarketing.org 5 Tips for Frugal Marketing 1 2 3 4 5 Define Create Own the your Your Own Insights vs Eco- Go Online Audience Marketing Information system Narrowly Channels Wednesday 16 September 2009 18
  20. 20. www.nomoneymarketing.org www.nomoneymarketing. org www.jessiepaul.com www.twitter.com/ jessie_paul Wednesday 16 September 2009 19

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