Marketing, such a loosely used word in the business world and a treacherous task to undertake as a business owner. Businesses make or break on their strategies and developing a thorough marketing strategy is essential to any businesses success, small or large. So many questions arise when developing a marketing strategy. Where do I spend my money? How do I differentiate myself from my competitors? How much should I spend on online assets? Do I need to hire a marketing director? The questions could go on forever but one must know marketing basics and how to leverage not only a well-defined marketing budget but time, energy, and creativity to stand out of the crowd when trying to communicate with their target audiences.
Contact Anthony William Tucker to discuss hosting this workshop in your community for your city government, chamber of commerce, economic development entity, main street association, or other organizations that contain members who are seeking branding and marketing insight. Email AWT, william@tuckerforoklahoma.com or call, 918-613-0411.
4 P's of Marketing: Confessions of a Guerrilla Marketer
1. 4 P’S OF MARKETING:
CONFESSIONS OF A GUERRILLA
MARKETER
Presented and Developed by:
Anthony William Tucker
New Media Specialist
Innovation Center Powered by RSU
RSUinnovation.com | 918-343-7533
2. ABOUT ME/ABOUT YOU
Who am I: Anthony William Tucker
What is my job: New Media Specialist at the Innovation Center powered by RSU
What is my background: Guerrilla marketing strategist with experience in both public and
private sectors in marketing, branding, public relations, social media, and search engine
optimization.
Why am I here in Nowata County: Training correlates with Entrepreneur Ready Community
Certification process Nowata County is undergoing with the guidance of the Innovation Center.
The goal is to help Nowata create business climate that attracts outside dollars and keeps
dollars from leaking from the community.
Why should you listen to me: I will teach you the marketing strategy basics, advanced
guerrilla marketing tactics, and provide insight into how to build long-term authentic brand
relationships with your most profitable customers.
What we can provide you: The Innovation Center can provide you with our team of business
development specialists who can provide your business’ decision makers with YODA like
guidance to help you develop your business. The Innovation Center is not a full-service
marketing agency, we are a resource to help businesses and organizations gain insight and
wisdom on how to better their business and their bottom line.
How can you contact me: By email, atucker@rsu.edu or by phone, 918-338-8039. You can
also find me on Facebook, Facebook.com/TuckerForOklahoma or on my blog,
TuckerForOklahoma.Blogspot.com.
3. WHAT WE ARE GOING TO COVER
Branding vs. Marketing
How to develop a brand’s position based on market research
Understanding that a brand is a promise
Truity Credit Union example
Marketing Basics
Knowing what marketing is and what it isn’t
Knowing how to conduct market research
Understand who your company is, who your customers are, and who are your competitors
Advanced Marketing Strategy Insight
Knowing and understanding that each touch point with your audience is marketing
Budgeting your promotional strategy
Understanding what value your audience seeks from your product
Guerrilla Marketing vs. Traditional Marketing
Knowing how to leverage time, energy, and creativity versus large marketing budgets
Know how to build brand awareness and brand loyalty through guerrilla marketing initiatives
Confessions of a guerrilla marketer in the private and public sector
Programs and platforms available to help aid guerrilla marketers
5. BRANDING VERSUS MARKETING
Branding
Branding is the promise made to employees, stakeholders, customers, and
potential customers of the experience they can expect when purchasing a
product/service from your company.
Branding is more than the visual representation, a logo, it is how you communicate
the value about your offering to the various marketplaces that you compete in.
A brand’s position is developed through properly positioning one’s product or
service in the marketplace through market research that provides competitor
intelligence for that segment of the market.
Branding is directly related to the five senses of human beings. It is what creates
customer loyalty, bigger profit margins, and growth in a business.
A brand’s value messaging and position must be developed before one can
market their business successfully. Without having a branding strategy would be
like sending an Army to battle without their commander.
A brand’s position will change as the market’s needs/desires change or when the
company shifts their focus.
6. DEVELOPING YOUR BRAND’S
POSITION
Market Research
Market research is the key insights that help provide businesses with the information
that connects them with consumers and enables them the ability to analyze
problems and trends within their current sales model.
Find out who is most profitable customer, where the customer lives, how does
the customer buy the product, and why do they buy the product/service.
Analyze what part of the market are you targeting your product to. Base this
on the price and assumed quality of the product. Market penetration versus
market skimming.
Internal Research
Analyze sales data to find out who is buying from you, what is their frequency of
purchases, where they live, and how do they buy it from you (Online, in-store,
dealer, etc.).
Pareto’s Law
80% of your sales revenue will come from the top 20% of your customers
7. DEVELOPING YOUR BRAND’S
POSITION
External Research
Know the SIC Codes for the markets that you will be competing in. Then you must
know what geographic area are you going to be targeting your products/services
to.
Market research programs are available at no cost via public libraries and
educational institutions. Below are the programs that are highly recommended for
understanding your market.
Reference USA
Hoover’s
Ibis World
Google Trends allows you the ability to see the what and how many people are
searching for within a specific industry.
Analyze who your direct competitor’s are within the segment of the market you are
competing in, be very specific. Understand what their position is within the market
and how they are communicating this to their most profitable customers.
What are they trying to tell the public, are they bigger, stronger, faster, etc.
9. BRANDING WRAP-UP
Branding is not the same as marketing but a brand’s promise and
position must be decided before crafting a comprehensive
marketing strategy for your business.
Brand’s are developed by analyzing the market.
Brand’s are more than just a slick logo. They must be authentic.
A brand’s promise sets the tone for what employees and
customers expect from the company.
Branding requires a strategy that focuses on making it easy for
current customers and potential customers the ability to receive,
store, and retrieve messages from a brand or company.
11. MARKETING…WHAT IT IS/WHAT IT
ISN’T
What it is
Formal: Marketing is the management activity of communicating value offerings to your
target audience.
Informal: Marketing is basically every time you or someone from you company has the
opportunity to communicate with your current or potential customers.
Big Picture: Marketing encompasses developing your company’s product/service offering,
price of the product/service, place where you sell/offer the product/service to the
marketplace, and is how you promote your product to the marketplace.
Authenticity: Marketing must be authentic for a business to survive long-term in a market
setting.
What it isn’t
Marketing is not the same as advertising.
Marketing is not just for big companies with big budgets.
Marketing is not sales and sales is not marketing.
Marketing is not a scam.
Marketing is not word of mouth!
12. GUERRILLA MARKETING
PERSPECTIVE
Guerrilla marketing is the thought process of leveraging cost efficient
marketing strategies and aligning tactics that are unique and achieve
specific objectives set forth by the company. This perspective allows
for companies with smaller budgets to compete with bigger brands
who have larger marketing budgets.
Guerrilla marketing enables businesses to build brand
loyalists/advocates and top of mind awareness in a market through
leveraging numerous methods/platforms including social media.
Guerrilla marketing was the maverick point of view and now it is the
mainstream point of view for developing marketing strategies/plans.
Guerrilla marketing is result driven! Small financial investments
that yield large returns, leads, and builds brand awareness.
13. GUERRILLA MARKETING VERSUS
TRADITIONAL MARKETING
Guerrilla Marketing
Leverages traditional marketing platforms to promote brands but they don’t rely on them
for the majority of their leads. They look for unique promotional opportunities that will
bring substantial returns for the amount of money, time, and energy put forth into the
campaign.
Guerrilla marketing experts stay on the leading edge of technology and find ways to
leverage new social media and mobile applications to promote their businesses. They are
spreading their value message where their most profitable customers are and not to the
masses via traditional methods. Sniper versus shotgun example.
Guerrilla marketing is not always incentive based it does require a direct response.
Traditional Marketing
Traditional marketing relies on leveraging main stream promotional avenues that are
costly to reach target audiences with value offerings.
These traditional avenues can be used for guerrilla marketing tactics but must be done more
strategically than traditional marketing’s traditional focus which relies on the methods for the
majority of their leads.
Traditional marketing principles remain tried and true for all businesses to model their
marketing strategy development but they must put the guerrilla marketing perspective on
their respective plans.
14. GUERRILLA MARKETING
EXAMPLES
Batman leverages Twitter to reveal new villain for movie through
requiring specific number of Tweets with official hashtag to gain
access to information.
#TheFireRises-http://mathieson.typepad.com/genwow/2011/05/elaborate-batman-
the-dark-knight-rises-social-media-campaign-catches-fire.html
Main street boutique leverages pink bicycle to catch the attention of
Route 66 travelers and online visitors.
Hillary’s Boutique-Pink Bike-
https://www.facebook.com/photo.php?fbid=509917465694515&set=a.3035165963
34604.80574.303515139668083&type=3&theater
Building brand relationships with the product while also gaining
customer insight about why they use the product.
GAF Roofing-Facebook Campaign-
https://apps.facebook.com/sharewhatyoutreasure/
15. KEEP THE GUERRILLA MARKETING
PERSPECTIVE FRESH AS WE MOVE
INTO THE MARKETING TRIED AND
TRUE PRINCIPLES
16. 4 P’S OF MARKETING
Product or Service
Price
Place (Where you sell your products/services)
Promotion
KEEP IN MIND:
Throughout developing your 4 P’s of marketing for your company you will
need to keep in mind who are the markets you will be targeting the product
to, who is the most profitable customers, and how are you going to position
this product/service to those consumers versus the current competitors in that
market also competing for those dollars. Also known as
STP, segment, target, and position.
17. PRODUCT/SERVICE
What exactly is the product/service?
Why this product/service over others?
This will be solved when developing the brand identity for the product/service.
How is this product/service solving a problem for the ideal
customers?
Is this product/service a commodity or a premium product?
Think about what the ideal customer thinks about when purchasing the product do
they care about price or innovation/quality?
Is the product going to be known for quality, innovation, or price?
Does the product create a real or cognitive switching cost that will
cause current customers to repurchase from company instead of
purchasing from competitors?
Apple example.
18. PRICE
Depends on product/service positioning and competitors in that market
Remember the higher price the higher the perceived quality. Price sets the tone for the quality of the
product.
Building a brand’s awareness and loyalty will allow for the company to raise prices and increased profit
margins because of the perceived value from a customer’s point of view.
Price is not a sustainable competitive advantage unless your in a commodity based market.
Walmart cost leadership strategy example.
Pricing strategies
Market Penetration
Flood market with your product/service. Make your money off of volume and not off of per product profits.
Competition Based
Pricing strategy based at matching or beating the price of competitors in the marketplace.
Market Skimming
Skim the top of the market by selling lower volumes of product but collect higher profit margins of each
product/service offered to the market.
Know your profit margins!!!!
Profit margins will differ on where you sell your product, PLACE.
Making a sale doesn’t necessarily constitute making a profit.
19. PLACE
Place is where you sell your products. You should always choose to sell your
products/services to the most profitable customers. Note that where you sell
your products also conveys a sense of expected quality from the target
audience.
Target versus Walmart stocking your product.
Places available to sell your products/services:
B2C-Business to Consumer
Online Store (E-Commerce)
Lower overhead than storefront.
Can be integrated with storefront sales.
Advent of new e-commerce solution, http://www.Shopify.com, allows e-commerce to
become sustainable and scalable revenue stream for a business.
Brick and Mortar Store
Higher overhead to have storefront.
Create exclusive location on where product is available.
20. PLACE…CONTINUED
Places available to sell your products/services:
B2B-Business to Business
Option 1: Sell only to other businesses and not to consumers, B2C
Option 2: Selling product through dealer/distributor network
Still can sell product online for full retail price from manufacturer but cannot compete
with dealer network on price it will discourage them from stocking product.
Farm Equipment Example
Option 3: Selling product/service through bid procurement
Bid Networks via B2B Focus:
Oklahoma Bid Network: http://www.oklahomabids.com/
B2G-Business to Government
Bid Procurement Networks-https://www.fbo.gov/
Workshop taught by REI WBC about how to obtain government contracts,
http://www.reiwbc.org.
21. PLACE…CONTINUED
Places available to sell your products/services:
B2NAG-Business to Native American Government
Bid procurement process
Cherokee Nation Bid Procurement-
http://www.cherokeebids.org/CurrentProcurements.aspx
22. PROMOTION
What it is What it isn’t
Promotion is the process of conveying
value offerings to targeted audiences
through various mediums.
Promotion is dictated by the brand’s
promise to the market!
Promotion is only successful when
objectives are set forth before enacting
tactics.
Objectives, Strategies, and Tactics
example.
Promotion decisions are decided by
understanding when, where, and how the
target audience likes to consume
marketing messages.
Social media
Mobile applications
Billboards
Etc.
Promotion is not advertising.
Promotion is not driven by
incentives.
Promotion decisions are not
decided by advertising sales
reps.
Promotion is not just one
advertisement, it is a clear
concise message through
various mediums.
23. PROMOTION: WHERE TO START
Market Research
Understand as much as possible about your most profitable customers. Then
craft marketing messages of value to be distributed through the most effective
mediums.
Analyze past sales to find trends within your company’s sales..
Pareto’s Law-80/20
Once you understand who the most profitable customers are then you can then
begin to leverage market research platforms to find more consumers like them.
Leverage Tapestry Segmentation to learn more about your specific customer’s
lifestyle and preferences
ESRI Tapestry Segmentation- http://www.esri.com/data/esri_data/tapestry
Realize that each customer requires some type of cost to acquire, money, time,
energy etc. You have to work harder to earn a new customer so try to increase the
frequency of repurchases from current customers.
24. PROMOTION: WHERE TO START
Set a budget
Promotion budget should be 3-5% of total sales for the company.
There is no perfect science to developing a promotional budget. You will have to tweak the budget each
month to find the optimal amount of monies to allot each month that brings the most return for your
business.
Analyze every dollar that is spent for promotional ventures within an Microsoft Excel sheet so you know
exactly what your total costs for promotion each month is.
Pick the most profitable platforms to promote your business
Promotion is about sales driven objectives and not applause. Too many businesses try to get applauded
for their marketing campaigns and don’t focus nearly enough on the reasons they are even spending
money to attract current and former customers to buy more of what they are offering the marketplace.
Be consistent with where you promote your business.
Reach and frequency are the two most important factors when purchasing media.
Examples of Promotion:
Direct Mail Campaigns
Search Engine Marketing
Social Media Marketing
Event Marketing
Advertising
Purchase of time and space within some form of communication with public.
TV, Radio, Newspaper, Billboard, Yard Signs, etc.
25. PROMOTION: WHERE TO START
Develop clear and concise direct response messaging
Develop clear value messaging for each of your promotional pieces with a
clear call to action.
Go online for quote, come to the store to buy the product, call for a quote, go to
Tractor Supply Company to buy product, etc. Be clear on what they need to do with
this message about your product/service.
Know that each market segment has a different trigger that triggers their
desire to buy the product.
Know that consistency with your messaging and consistency within where the
consumer spends their time is essential to success. No short term solutions
are available for instant success. There is no magic button to success in
marketing!
26. PROMOTION: BE A GUERRILLA
Leverage guerrilla marketing promotional tactics for low cost/big return platforms that builds
brand awareness with potential customers, top of mind mentality, and builds brand loyalty with
current customer base (Lower acquisition costs).
Examples:
Social Media Development
Social media campaigns through third-party applications that increase individuals liking, commenting, and
sharing your brand’s content.
Example of Platform: ShortStack
ISSUU
Leverage ISSUU to turn PDF brochures or product specs into interactive flipbooks.
Search Engine Marketing/Social Media Marketing
Pay-Per-Click ads through
Google AdWords
Bing
Facebook
YouTube
Email Marketing
MailChimp
27. PROMOTION: BE A GUERRILLA
Examples:
Unique Business Cards, Unique Store Front, Etc. Basically stand out of the crowd and be
noticed but don’t compromise brand standards.
Video Creation
People love to consume content through videos. Leverage the video sharing giant,
YouTube, to upload a series of videos discussing your products/services or
potentially have customer testimonials through YouTube.
Well-Tuned websites
Easy to find on search engines, buy products from website, etc. Get your audience
to spend time in front of your brand on your website. Find ways to keep them
engaged. Don’t overpromise and under deliver!
Lucas Metal Works example
ReviewMyLucas.com
28. PROMOTION: TRACK SUCCESS
Remember promotion of your business is only successful if it
achieves objectives set forth by your business before the
campaign.
Track Success Through:
Simple Microsoft Excel Sheet to analyze where phone calls/quotes came from.
Lucas Metal Works example.
Analyze your company’s website performance during times of promotional
campaigns that are either or both through online or offline platforms. Watch for
spikes in traffic on those set dates the message was live and in front of your
audience’s eyeballs.
Analyze your company’s social media performance during campaigns. This can be
done through Facebook analytics.
Analyze your company’s sales versus last year’s sales and analyze month by
month sales totals in comparison to the amount of dollars allotted to
promoting the business and what forms of promotion you leveraged.
29. NOW YOU HAVE A ROPE
Now you have the knowledge to build you brand’s identity, develop a pricing
strategy for your brand, determine where and who are the most profitable avenues
to sell your product to, and how to successful develop promotional strategies that
are result driven.
Now you can take this knowledge and develop a comprehensive marketing
strategy that is based on the ROPE acronym.
Research
What is your company selling, who are your most profitable customers, who are your competitors, and how
do you plan on maintaining and/or increasing sales/market share.
Objectives
These are the tangible objectives you would like for your company to achieve through developing this
marketing strategy and ensuing promotional campaigns.
Plan
This is how you plan to achieve your set objectives through your promotional strategy and strategic
positioning to increase repurchases from current customers and to increase new sales with potential
customers. This will include your budget for the plan.
Evaluation
When and how will you determine if this plan was a success. Create a follow-up plan for determining
success or failure. Success is driven by increased profits not applause or laughter from marketing
messages.
30. GUERRILLA MARKETING TOOLS
ASANA Project Management
ISSUU
InspirePay.com
Google Alerts
Social Media Monitoring
MailChimp-Email Marketing
MAS 100-ERP System
Shopify-E-Commerce Websites
PREZI-Online Based
Presentations
Google Drive
Google Trends
Google Email for Businesses
ESRI-Twitter Mapping
ESRI-Tapestry-Market
Segments
Kiss YouTube-YouTube Video
Downloader (MP4 Format)
31. HOW THE INNOVATION CENTER CAN HELP
Team of specialists within the following fields:
Market Research
GIS
Marketing
Branding
Strategic Planning
Business Development
Online Marketing/New Media
Business Growth Strategy Development
International Trade
Request services from Innovation Center at
RSUinnovation.com
32. CONTACT ME/FOLLOW-UP
Contact Information:
Who: Anthony William Tucker
How: Phone, 918-338-8039, or email, atucker@rsu.edu
Last Day: Friday, August 9th
Replacement: Brandon Irby, 918-343-7509, or brandonirby@rsu.edu
Presentation Information:
View or download presentation, watch video of presentation, download
resources, and view links to Guerrilla Marketing Resources online,
http://www.getmefoundonline.com/4-ps-of-marketing.html
Editor's Notes
Brand identity is developed based on the needs/desires of the most profitable customers that exist in the marketplaces the company will compete in.
66 FCU recently opened a new branch in Houston, Texas in addition to their other assets with KU and COP.