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8 Marketing Musts for Profitable Growth
The document outlines eight critical marketing strategies for profitable growth, emphasizing the importance of planning and crafting a marketing strategy that focuses on target audience needs and desired behaviors. It suggests leveraging influencers, gaining visibility, and utilizing effective marketing tactics such as a competitive web presence and social media. Ultimately, it stresses the need for consistent measurement and refinement of marketing efforts to achieve defined objectives.
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8 Marketing Musts for Profitable Growth
- 1. 8 Marketing Musts forProfitable Growth 1
- 2. Session Goals What do I wish for? How can marketing help me meet/ exceed that goal? What will I commit to do and when? 2
- 3.
- 4. PLAN “He who failsto plan is planning to fail.” -Winston Churchill 4
- 5. 1 Craft yourmarketing strategy Driving desired behavior 5
- 6. 1 Craft yourmarketing strategy Driving desired behavior •WHO is my target? •WHAT do I want my target to do? •WHY should they do that? 6
- 7. Business Strategy- forSpecialists Target • Who you serve best • Most lucrative customers (Sweet Spot) • Who you can serve better than competition • What Need/Point-of-Pain you solve benefit Benefit • Target‟s unmet needs • Your core competency/expertise •e.g.: How You • # of Customers? • Volume per Customer? Make Money • Profit per Job? • Billing rate per hour? 7
- 8.
- 9. Think Inside Out…. Tertiary Target Secondary Target Primary Target 9
- 10. Business Strategy- forSpecialists Target • Who you serve best • Most lucrative customers (Sweet Spot) • Who you can serve better than competition • What Need/Point-of-Pain you solve benefit Benefit • Target‟s unmet needs • Your core competency/expertise • # of Customers? How You • Volume per Customer? • Profit per Job? Make Money • Billing rate per hour? 10
- 11. Customer Needs X „It‟s not about you!‟ 11
- 12. Customer‟s Needs Goalsand desired outcomes: tangible and psychological Cost Speed Return-on-investment Quality Functionality Peace of mind Responsiveness… or…… 12
- 13. Business Strategy- forSpecialists Target • Who you serve best • Most lucrative customers (Sweet Spot) • Who you can serve better than competition • What Need/Point-of-Pain you solve benefit Benefit • Target‟s unmet needs • Your core competency/expertise • # of Customers? How You • Volume per Customer? • Profit per Job? Make Money • Billing rate per hour? 13
- 14. What (Really) drivesyour business model New Customers? Repeat Customers? Volume per customer? Profit per customer? Referrers (#, or #/per)? current desired 14
- 15. Marketing Direction To get___(target)___________________ to ______(behavior)_________________ because_(your competitive advantage)___ 15
- 16. Marketing Direction To getgeneral contractors and homeowners of new construction $200-$400K or remodels/ additions $50-$150K in the 200-mile radius of X, Ohio to select and recommend us because we provide more accurate, cost-effective, and functional home designs (than…..) 16
- 17. Develop a CostEffective Marketing Plan Clarify and quantify your objectives Select strategies Set your budget Use the right tools Compare and select best options Test, measure and refine 17
- 18. Marketing Objectives e.g. • Toget general contractors and homeowners of new construction $200-$400K or remodels/ additions $50-$150K in the 200-mile radius of X, Ohio to select and recommend us • Grow sales by X% to XX by XXX • Get X more A customers 18
- 19. Determine your Strategies Business Objective (Measurable annual goal) Marketing Strategies (3-5 Methods to Accomplish the Goal) • Increase our visibility among general contractors Marketing Tactics • Leverage clients to attract additional residential (Individual Programs to Execute the Strategy) remodeling clients 19
- 20. FOCUS 20
- 21. Marketing Budget X X 21
- 22. Keep Marketing ProgramsOn Strategy or Cut Ensure marketing programs achieve objectives Ensure 3-5 Marketing Strategies link to strategic and annual plans Ensure Marketing Tactics support strategies or redirect the $$ The 5-15% Thief 22
- 23. Set Your AnnualPlan/Budget Critically evaluate current programs and budget Determine needs to accomplish goals Assess return-on-investment Refine (as needed) through the year The 5-15% Thief 23
- 24. Diagnose Key Issues….. Awareness Image Trial Repeat Customers 24
- 25. … and Usethe Right Tools Awareness Image Trial Repeat Customers = / 25
- 26. Select Marketing Tactics Business Objective (Measurable annual goal) Marketing Strategies (3-5 Methods to Accomplish the Goal) Marketing Tactics (Individual Programs to Execute the Strategy) 26
- 27. Compare and SelectBest Option X “Should We…?” “How Can we Best….” 27
- 28. Compare and SelectBest Option •Cost per impression •Relevance 28
- 29. Compare and SelectBest Option 29
- 30. 2 Leverage Influencers You have to call Rich Rokisky •Upstream services •Adjacent services •Transaction influencers •Complementary services 30
- 31. ??? • Identify yours • Ensure they know you exist • Ensure they know what you provide •Make it EASY for them to recommend you 31
- 32. Catalysts • Events andsituations that drive the need • Be available/top-of-mind 32
- 33. Awareness at Point-of-Pain •Crisis/problem that you solve • Pain avoidance trumps nice-to- do‟s • Timing 33
- 34. 3 Get SlightlyFamous • PR = Affordable Advertising + More Credibility 34
- 35. Position yourself asan Expert Speak Write articles Write a book Get quoted by the media 35
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- 39. Get Slightly Famous Publicizemajor events and awards Help and educate Tell your story Make it newsworthy Repurpose your PR Manage your online visibility 39
- 40. 4 Generate Leadsthrough Delighted Customers • Do Great Work!! • Pre-qualify Good Customers 40
- 41. 4 Generate Leadsthrough Delighted Customers • Do Great Work!! • Pre-qualify Good Customers 41
- 42. Harness Testimonials Ask for them Amass reference able clients Photos; before and after Make it easy for them to refer you 42
- 43. Harness Testimonials Merchandiseyour testimonials Advertising, selling materials, website, project signage, open house, social media Maintain communication with clients Seek out „marquis‟ testimonials 43
- 44. Don‟t forget thebasics…. 44
- 45. Don‟t forget thebasics…. 45
- 46. 5 Build aCompetitive Web Presence Appropriate website Appearance Functionality Be objective 46
- 47.
- 48.
- 49. 5 Build aCompetitive Web Presence Traffic: search optimized for organic search Keyword strategy „Spider food‟ Blogs Page Rank Search engine and directory listings Google advertising? 49
- 50. 5 Build aCompetitive Web Presence Generate and manage leads Engaging Opt-in/name capture Make it easy for them to contact you Lead conversion (e.g. free article) …. but don‟t over-invest 50
- 51. 6 Use SocialMedia..Selectively Customer Brand Exposure Website Traffic Search Engine Communication Optimization Facebook Private Communities YouTube/ Flickr Twitter LinkedIn 51
- 52.
- 53. Social media • Onstrategy? • Priority? • Resources? 53
- 54. Fundamental shift inmarketing 1 – Way 2+ – Way Company controlled Consumer controlled Mass market Niche/micro-target market Persuade to buy Engage to earn relevance 54
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- 59. YouTube 59
- 60. Flickr 60
- 61. YouTube 61
- 62.
- 63.
- 64. Simple, cheap marketing2.0…. e-Mail marketing to your contacts Newsletters, announcemen ts, etc. 64
- 65. • 53% openrate • 40+ qualified leads • Accelerated active prospects and commitments • Two A+ prospects requested tours/meetings 65
- 66. 7 Market Consistentlyacross Media Marketing Increase our visibility among general Strategy contractors Marketing Contest at XYZ General Contractor Program Show/Event Event Promotion Advertising and Pre/During/Post Public Relations Interactive Media Communication Website Customer service, CRM Social media Facebook YouTube 66
- 67. 8 MeasureRefine Refine 8.Measure and and Set goals before you execute Incremental sales Lead generation New business Return-on-investment Awareness …scalable experimentation 67
- 68. You get whatyou PLAN Get on your prospect‟s radar Think before you spend If you can‟t measure it, you can‟t manage it 68
- 69. How do youchoose to grow faster? 1. Craft Your Marketing Strategy 2. Leverage Influencers 3. Get Slightly Famous 4. Generate Leads through Delighted Customers 5. Build a Competitive Web Presence 6. Use Social Media… Selectively 7. Market Consistently across Media 8. Measure and Refine 69
- 70. Marketing Action Plan ActionPlan: By Whom By When 1._____________________________________ _______________ _________ 2. _____________________________________ ________________ __________ 3. _____________________________________ ________________ __________ 4. _____________________________________ ________________ __________ 5. _____________________________________ ________________ __________ 70
- 71. not too hard Any^questions? 71