Building Your Marketing Plan
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This is the slideshow of a presentation given to the Greater Nashua Chamber of Commerce on May 17, 2011. The topic was Creating a Marketing Plan. Loren Foxx from wedu (http://www.wedu.com) was the presenter.
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Building Your Marketing Plan
- 1. Building Your Marketing PlanLoren Foxx, wedüMay 17, 2011
- 4. Increased name recognition
- 5. Positioning their product
- 6. Building a brand
- 7. Marketing without “traditional” marketing – viral campaignPNC Bank Copyright 2010 wedü,inc.
- 9. Learn more about your customers
- 10. Learn more about your competitors
- 11. Set budgets for the coming year
- 12. Set new goals
- 13. Position your companyAre there any other reasons? PNC Bank Copyright 2010 wedü,inc.
- 15. M – Measurable
- 16. A – Attainable
- 17. R – Realistic
- 18. T – TimelyPNC Bank Copyright 2010 wedü,inc.
- 20. New business
- 21. Brand awareness
- 22. Customer loyalty
- 23. Lead generation
- 24. Personal developmentPNC Bank Copyright 2010 wedü,inc.
- 26. Packaging
- 27. “Free Prize Inside”?
- 28. Who is your target audience?
- 29. What is your unique value proposition?
- 30. Elevator PitchPNC Bank Copyright 2010 wedü,inc.
- 31. PNC Bank Copyright 2010 wedü,inc.
- 32. Positioning So... What’s your company’s positioning statement? PNC Bank Copyright 2010 wedü,inc.
- 35. Positioning To: Safety Conscious Car Buyers “Volvo is the… automobile manufacturer that… keeps you and your family safe because… all of our research, technology and planning are focused on protecting drivers and their passengers.” Singular distinction: Safety
- 37. Weaknesses
- 38. Opportunities
- 39. ThreatsHow can you use this information to your advantage? PNC Bank Copyright 2010 wedü,inc.
- 41. Google
- 42. “Have someone else do it for you”
- 43. Ask employees
- 45. Market research
- 46. Survey your customersPNC Bank Copyright 2010 wedü,inc.
- 48. Dictates the media you will usePNC Bank Copyright 2010 wedü,inc.
- 49. Developing Your Strategy How do you build a budget? PNC Bank Copyright 2010 wedü,inc.
- 51. Radio
- 52. Print
- 53. TVYour budget dictates where you’ll place your media, and what you’ll produce PNC Bank Copyright 2010 wedü,inc.
- 55. Web
- 57. Email
- 58. Viral Videos and Commercials
- 59. Facebook Apps
- 60. Smartphone AppsPNC Bank Copyright 2010 wedü,inc.
- 62. In-Store
- 63. Experiential / Event Marketing
- 64. Frequent Shopper
- 65. Discount ProgramPNC Bank Copyright 2010 wedü,inc.
- 67. Tying how you want to be perceived into your messaging
- 68. What will make customers buy?
- 69. What will result in increased leads or sales?PNC Bank Copyright 2010 wedü,inc.
- 71. ROI
- 72. Profitability
- 73. Total Sales
- 74. Sales per Rep
- 75. Sales compared to previous period / similar period
- 76. Sales per Transaction
- 77. Sales of Specific ProductsPNC Bank Copyright 2010 wedü,inc.
- 79. Website traffic / visits
- 80. Facebook fans / interactions
- 81. Store visits
- 82. Frequent shopper signups / rewards program
- 83. New customers?
- 84. ZIP Codes?
- 85. Eyeball testPNC Bank Copyright 2010 wedü,inc.
- 87. Set Your Goals
- 88. Write Your Plan
- 89. Learn Your Markets
- 90. Make it Happen
- 91. Celebrate Your SuccessPNC Bank Copyright 2010 wedü,inc.
Editor's Notes
- 2:30
- ChuckWill It Blend? Video Importance of viral videos, marketing, positioning- this was their marketing plan
- ChuckIncreased name recognition for BlendTec and Tom DicksonPositioned product as a niche/specialty itemBuilt the brand as a household name – they considered their target market, younger YouTube market with disposable income
- ChuckAsking your customers – why they buy? Who are they? Where do they come from (demographics)Competitors – weaknesses and threats, so you can learn about your opportunitiesTo position your company – is there something that should be more of a core business, i.e. with newspapers – how did their business evolve, and where did they miss their opportunity?Gives you a chance to take in a 30,000 foot view and see the forest for the trees – so caught up in the day to day work that you don’t see it. It’s hard to work on your business when you’re caught up in the business.
- LorenNothing earthshattering hereLike if you wanted to get 20 days of skiing in – that is the example.For a small business, revenue – sell 100 widgets by June 30, what did you sell last year?(
- Loren Tangible and intangible goals, i.e. brand awareness vs. salesPersonal development, closing % of sales
- LorenPricing – Swatch vs. Rolex, Toyota vs. Lexus, Acura vs. HondaPackaging – plain wrap vs. a nice box, Polo, etc.Free prize inside – Chevy Cruze super bowl adTarget audience – who was their target with a luxury car, bows on the Lexus, gold hood ornaments, etc.Unique value proposition – “elevator pitch”
- LorenPricing – Swatch vs. Rolex, Toyota vs. Lexus, Acura vs. HondaPackaging – plain wrap vs. a nice box, Polo, etc.Free prize inside – Chevy Cruze super bowl adTarget audience – who was their target with a luxury car, bows on the Lexus, gold hood ornaments, etc.Unique value proposition – “elevator pitch”
- Chuck
- Chuck
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- Loren
- LorenFocus groups are a costly way to do thisGoogle – message boards, Yelp, Trip Advisor, Facebook, Twitter, etc... It’s 2011 and everyone has a voice. If you ignore it you can miss big things. Look at some of the big companies – listen and be proactiveSomeone else – an internAsk employees – sales force feels competition and has empirical evidenceTrade orgs – tradeshows and eventsMarket research – customers, competitors, neighbors, alliances in area, etc.Surveys – cheap to do with Zoomerang, Survey Monkey, zipcodes, etc.
- ChuckPlumbing company in Nashua example – if you are a plumber there, will you market in Manchester? If so, what will it take?Example of on-time plumber. All plumbers in Manchester run late. Market in Manchester as the on-time plumber.Target market tells you the media you will use – where are your potential customers hiding?
- LorenGeographyMediaFrequencyTimeWhere are people digesting information?Where can you get the most bang for your buck?Duration of the campaign?
- Cost of each, depends on the market too.Think of production costs as well
- Chuck –Web – where people go first (used to be Yellow Pages), does it make sense to have a new site?; SEM, Google, Bing, Yahoo, Facebook, Linkedin; Email marketing – building a list vs buying a list; Viral Videos; Facebook apps; iPhone appsNeed to make the time to do this as it’s crucial to the business – this is always the hardest part
- LorenIn store – Point of purchase, build the sale (BOGO, buy 2 get 1 free)Experiential or event marketing – displays in store, brand ambassadors, eventsFrequent shopper – CVS “extra care bucks”, Catalinas, etc.Discount program – LocoLocal, Couptopia, Groupon
- ChuckHow you want to be perceived will be part of the message – one hour plumbers, radio spot, web – all of the messages will tie back to the same concept of on-time, quick serviceWhat will make them buy and come back? Is it the service, the necessity... What makes them loyal?What will make the phone ring?
- LorenReturn on investment – benchmarking last year compared to this yearOverall company profitabilitySales per repSales per transactionIf you’re pushing products (coupons, etc.) sales of those
- ChuckEyeball test – how many people are in the store?
- Loren