An overview to the Lean Startup methodology and Lean Canvas tool, meant for an audience with little previous exposure to entrepreneurism or strategic project development. This overview can be provided in a 1-hour time slot, then follow-up can happen with an extended Lean Startup workshop or consulting session.
An overview to the Lean Startup methodology and Lean Canvas tool, meant for an audience with little previous exposure to entrepreneurism or strategic project development. This overview can be provided in a 1-hour time slot, then follow-up can happen with an extended Lean Startup workshop or consulting session.
Practical entrepreneurship training part 4 Financing the businesskieranm01
This is part 4 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this final part the emphasis is on handling the financial side of a start-up focusing on both raising investment and working effectively with a bank partner.
Retool your Sales and Marketing Process with LeanBusiness901
Retool your Sales and Marketing Process with Lean: The tendency is to jump into EDCA (Lean Startup) and try to create a silver bullet. When “retooling”, you should delay starting “new” marketing ideas. You start with CAP-Do and categorize and develop the idea and practice of standard work. Standard Work consists of understanding the basic Lean principles, an understanding of your value proposition, how your product/services are used and the markets you serve.
Once you have worked out your marketing Strategy, Marketing Funnel and approach, it is a matter of thirty minutes a day to promote your business online. A clear plan, focus and persistence will deliver up your business goals!
Your unique value proposition is one of the most critical components of your entire business. You will win more customers and boost revenues if you craft a UVP that incorporates business value and personal value.
How to Generate More Leads by Changing What You SaySalesScripter
Being a sales person is like going to battle. Everyday you are in the trenches fighting fierce competition and doing what you can to survive.
The words you use are your weapons. They are what you use to grab the prospect's attention, to build relationships, to position yourself ahead of the competition, to defuse objections.
The better your pitch, the sharper your weapons are. If your pitch is not tight, it is as if your blades are dull. They may work a little and kind of get the job done, but you are not going operate at a consistent level of excellence.
Practical entrepreneurship training part 3 Building team and product/servicekieranm01
This is part 3 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this third part the emphasis is on the people side of a start-up, founder composition, dynamics of a start-up team, success failure factors, role of leader, role of mentor etc. There is also a smaller section looking at how you approach building your product or service.
Practical entrepreneurship training part 2 Sales & marketingkieranm01
This is part 2 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this second part the emphasis is on how to sell, how to structure your value proposition and how to engage customers.
Your Value Proposition is the reason that customers choose to buy from you, it needs to be a core business skill. This slideshare shows you how to develop compelling value propositions with a focus on B2B companies
Over the last year, we’ve done several customer insights projects for clients using the 'Jobs To Be Done' framework. We’ve done this for companies in management consulting, consumer packaged goods, and apparel. Doing 60-minute interviews with one customer at a time and distilling that information has been some of the most interesting work I’ve done in my career. Here’s how we do it and why it’s worth doing.
Practical entrepreneurship training part 4 Financing the businesskieranm01
This is part 4 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this final part the emphasis is on handling the financial side of a start-up focusing on both raising investment and working effectively with a bank partner.
Retool your Sales and Marketing Process with LeanBusiness901
Retool your Sales and Marketing Process with Lean: The tendency is to jump into EDCA (Lean Startup) and try to create a silver bullet. When “retooling”, you should delay starting “new” marketing ideas. You start with CAP-Do and categorize and develop the idea and practice of standard work. Standard Work consists of understanding the basic Lean principles, an understanding of your value proposition, how your product/services are used and the markets you serve.
Once you have worked out your marketing Strategy, Marketing Funnel and approach, it is a matter of thirty minutes a day to promote your business online. A clear plan, focus and persistence will deliver up your business goals!
Your unique value proposition is one of the most critical components of your entire business. You will win more customers and boost revenues if you craft a UVP that incorporates business value and personal value.
How to Generate More Leads by Changing What You SaySalesScripter
Being a sales person is like going to battle. Everyday you are in the trenches fighting fierce competition and doing what you can to survive.
The words you use are your weapons. They are what you use to grab the prospect's attention, to build relationships, to position yourself ahead of the competition, to defuse objections.
The better your pitch, the sharper your weapons are. If your pitch is not tight, it is as if your blades are dull. They may work a little and kind of get the job done, but you are not going operate at a consistent level of excellence.
Practical entrepreneurship training part 3 Building team and product/servicekieranm01
This is part 3 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this third part the emphasis is on the people side of a start-up, founder composition, dynamics of a start-up team, success failure factors, role of leader, role of mentor etc. There is also a smaller section looking at how you approach building your product or service.
Practical entrepreneurship training part 2 Sales & marketingkieranm01
This is part 2 of a 4-part workshop series that focuses on providing practical guidance to first-time entrepreneurs. In this second part the emphasis is on how to sell, how to structure your value proposition and how to engage customers.
Your Value Proposition is the reason that customers choose to buy from you, it needs to be a core business skill. This slideshare shows you how to develop compelling value propositions with a focus on B2B companies
Over the last year, we’ve done several customer insights projects for clients using the 'Jobs To Be Done' framework. We’ve done this for companies in management consulting, consumer packaged goods, and apparel. Doing 60-minute interviews with one customer at a time and distilling that information has been some of the most interesting work I’ve done in my career. Here’s how we do it and why it’s worth doing.
Financial Advisors Have a Really Tough Challenge. First They Need to Ditch the Product Mentality and Create a Unique Marketing Message. Next They Need to Build a Platform That Seamlessly Integrates Modern Tools and Strategies.
Early-Stage Digital Branding Discovery Questions and FrameworkKim Donlan
While full branding and messaging do take time, a failure to understand and navigate the pitfalls of early-stage branding can stop your company from ever really taking off.
Often, you think, “We’ll figure out the branding later—all I need is a landing page,” or “We’re in stealth mode, so I can’t publicly share what we really do,” or the truly dangerous “We can just use a template for now.” The problem with this thinking is that it prevents you from addressing the fundamental questions that define your brand and, more importantly, keeps you from communicating why your early adopters should trust you.
Developing a digital marketing strategy to drive business growth - LexisClicklexisclick
A good written digital marketing strategy will work in a very similar way to a map. It'll give you your chosen route to business growth as well as other options in case of potential events. http://www.lexisclick.com/
Developing a digital marketing strategy to drive business growth - LexisClicklexisclick
A good written digital marketing strategy will work in a very similar way to a map. It'll give you your chosen route to business growth as well as other options in case of potential events.
Our strategic marketing planning process is the framework we use to create a high quality marketing plan, and subsequently allows us to devise the most effective and efficient non-digital and digital marketing strategies to achieve the goals set out in this plan. Visit www.abacusmarketing.co.uk to find out more, or email stephen@abacusmarketing.co.uk to arrange a call or meeting.
According to Breonna Bergstrom, a marketing process is:
“A series of steps that allow organizations to identify customer problems, analyze market opportunities, and create marketing materials to reach the desired audience.”
STEPS OF MARKETING PROCESS
1. Understand the customer needs.
2. Develop a basic strategy.
3. Make a decision.
4. Execute a plan.
5. Deliver the results.
The Marketing Mix is a concept established in 1960 by Jerome McCarthy while he was on a Ford Foundation Fellowship at Harvard Business School and MIT.
While the term marketing mix had been in use since the 40’s, it was McCarthy who distilled it to the four P’s (Product, Price, Place and Promotion).
The 4 Ps of Marketing Mix
Product
Price
Place
Promotion
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he BMC provides a holistic view of your business model, fostering strategic clarity and alignment.. It is key driver of the business. It is how you create and deliver value to your customers, make money, and operate it sustainably.
It has 9 key pointers to work on and could also be considered as a starting point of a venture
Crave for digital success you’re just 5 steps away!TataBSS
While aspiring to attain digital success, it is important to push the envelope. Want to be a digital marketing expert who can attain success in all digital outcomes? Harness the power of the following 5 secret weapons that will lead you to guaranteed success.
Join the GPA and MindFire teams as we host Part II of our very successful Webinar in
June, Recovering Revenue in a Changing Economy.
The COVID-19 crisis has changed everything, as such, we hand-picked 4 commercial,
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Our Guest Speakers for the webinar are:
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7 Ps extended marketing mix - StrategystDaniel Lee
The 7 Ps extended marketing mix is a popular tool used by marketers. The 7Ps are used when planning marketing strategies.
Find out how to use the 7 Ps extended marketing mix when building a digital marketing strategy.
The 7 Ps are price, product, place, promotion, people, processes, and physical evidence.
Source: https://strategyst.co.uk/blog/7-ps-extended-marketing-mix-the-ultimate-guide/
Studies and results show that Challengers are much more performant than relation builders, problem solvers or any of the other typical sales types. How can you finetune your challenger skills and become a high value sales pro?
Inbound Marketing Week: How to boost traffic, leads, & sales with content mar...Denamico Inc.
If you’re not well-versed in the differences between inbound and outbound marketing, it’s time to get up-to-speed! When it comes to marketing strategy and tactics, these two approaches are polar opposites. Not to mention, there’s a big difference in their ability to generate qualified leads and deliver a strong ROI.
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Key business activities you need to consider before starting up. Different types of company, opening a business bank account, how to name your business to name a few
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
2. Todays objectives
• Gaining an understanding of what marketing is
• Gaining the ability to address some simple points in marketing your business
• How to identify and choose the right customers for your business and its products or services
• Creating a persona for your ideal customers to understand them more effectively
• An understanding of the differences between features, benefits and advantages
• How to effectively and efficiently communicate benefits to your customers
• An understanding of the differences and difficulties in marketing a service
• How to plan your marketing communication.
3. What is marketing?
“Marketing is the analysis, planning, implementation
and control of programmes designed to bring about
desired exchanges with target markets for the purpose
of achieving organisational objectives.
It relies heavily on designing the organisational
offering in terms of the target market needs and uses
the effective pricing, communication and distribution
to inform, motivate and service the market”
7. Customer factory blueprint – early stages
• Questions to ask:
− How will you identify your first users?
− How will you reach your first users?
− What is the first value experience – this doesn’t need to be your first sale or a finished product!!!!
− How can you make money from these early users
• Coming later:
− How can you drive repeat usage?
− How can you drive your referral engine?
9. Characteristics of Early Adopters
• Open and willing to try the new product and excited to be involved with a new innovation.
• Willing to pay a higher price than adjacent competitors, to be the first to access this new technology
• Open to trying the new product with limited or no marketed company presence
• Willing to tolerate some failures and willing to spend some time to work around minor problems and
configuration issues.
• Will be willing to break with trends and not accept the market norm.
Page 9
10. Who…….
• Has the most pain?
• Has the shortest sales cycle?
• Has the budget?
• Has the authority?
• Write a few bullet points about them
11. Where will you find them?
Inside referral
Outside referral
Event contact
Social media
Cold call
12. How will you approach them?
• Phone
• Email
• Networking
• Event
• Social media
• You decide………
• But try as many as you can
13. What do we approach them with?
Problem Answer Credibility Evidence
Next
steps
19. Choosing business customers
Organisational Segmentation
Microsegmentation Macrosegmentation
Choice
Criteria
Decision
Making
Unit
structure
Decision
Making
process
Purchasing
Organisation
Company
Innovation
Company
size
Industry
Geo
graphic
20. Personas
Sample Persona: Executive Ed
Demographic information
● London, UK
● 35 years old
● Marketing executive at a
professional service company
● BSc in Business and Economics .
Quote
E.g. “We’re reaching the limits
of what we can achieve in
certain areas, and I need a
serious consultancy to step in
and help us take things to the
next level. Something’s not
right, and we need external
help to come and fix it.”
Psychographic information
● Likes to run marathons
● Volunteers for a charity
● Likes to watch the
latest series on Netflix
● Early adopter of new
technology
● Likes to do thorough
research before high
value purchases
Marketing messaging
● Keywords - marketing agency, award winning
digital agency, results focused marketing
agency, marketing agency London
● Channels - social media (LinkedIn), Google
search
● Call to action - “Download now”, “Improve
your tactics”, “Get more results from your
marketing”, “Increase conversion rates”
Goals
● Become a marketing manager in the nest
2-3 years
● Wants to show his worth through
innovative projects and initiatives
● Wants to get more leads in
21. Personas
Persona 1: Name
Demographic information
● location
● age
● education .
Quote
E.g. “We’re reaching the limits of
what we can achieve in certain
areas, and I need a serious
consultancy to step in and help
us take things to the next level.
Something’s not right, and we
need external help to come and
fix it.”
Psychographic
information
● hobbies and interests
● likes and dislikes
● lifestyle
● attitude
● fears
● values
● spending habits
Marketing messaging
● keywords
● channel
● language
● call to action
Goals
● what are their primary and secondary goals?
● what are their challenges?
● what are their objections?
● what can we do to help achieve their goals?
● what can we do to overcome their
challenges?
24. Product
Core Product
− What core benefit does your product offer?
− Customer who purchase a camera are buying more than just the camera, they are purchasing memories
Actual Product
− All cameras capture memories. How do you get customers to buy yours?
− Branding, adding features and benefits which offer a differential advantage over your competitors
Augmented Product
− What additional non-tangible benefits can you offer?
− After sales service, guarantees, delivery (creating peace of mind)
25. Benefit building
Just a box on wheels, no
image or brand
gadgets
Sound
system
Big
engine
Big boot
Tangible
benefits
(Easy to copy)
Intangible benefits
(difficult to copy)
Well
known
Cool
status
Perceived
reliability
26. Features Advantages Benefits
Buy groceries online Saves going out to supermarket • Makes supermarket shopping possible
• Don’t face the ordeal of shopping with
toddlers
• Keep your limited leisure time for
yourselves
Twenty four hours a day seven days
a week
Can shop outside of normal hours • Shop when feel like it
• Concentrate when kids are asleep
• Sort out at weekend with no pressure
Remembers your previous list Can make amendments rather that
starting from a blank sheet
• Tend to need the same things
• Head start to make the job quicker
• Save lists for different occasions
Total price clear before getting to till Useful for budgeting • Save money –limited income
• Possible to delete a few treats
• Know exactly what’s going on the credit
card
Selling the benefits
27. Answer the little man
You said Little man asked You replied You elaborated
We use digital signal
processing in our hearing
aids
So what? Our product increases the
clarity of sounds
For example if you are at
a party you’ll be able to
hear what people are
saying to you
We provide 128 bit
encryption in a device in
a mobile phone
So what? Its harder to break into
our system
For example if you are in
a hotel room and want to
have a secure
conversation
A big name celebrity is on
our board
So what? What we are doing is
interesting enough to
attract top talent
For example she has
already opened doors for
us in the industry
35. Service
• Intangibility
−Cannot be tasted, touched or smelled before they are bought
−Customer may find it difficult to evaluate before they purchase
−Display testimonials, case studies, referrals, brand consistency
• Inseparability
−Simultaneous consumption and production
−How service providers conduct themselves may effect future business
−The people are the company
36. Service
• Variability
−Service quality may vary depending on staff delivery
−Service faults (i.e. staff poor performance) cannot be quality checked and corrected between
production and consumption
• Perish ability
−Services cannot be stored for future use like a product, i.e. if a hotel room is empty for a night
its lost revenue. If a product is not sold it can be stored and sold tomorrow
−Service providers have the problem of being able to cater for peak demand and staff
appropriately
37. Price
• Price your product or service at the level which your customers expect to pay for the quality you are
delivering
−Does not mean high price means high quality
−Nor high quality will justify a high price
• Pricing directly affects sales revenue
−Relate sales revenue to costs – cost of sale, production, raw materials, transport and promotion
• Product – Price Mix
−Good after sales service or a brand well-supported with advertising may attract a higher price.
39. Promotion
5 stages to promotional marketing
1) Determine the objectives
− What do you want to achieve?
− What are your SMART goals
2) Define the audience
3) Select the media
4) Design the message
5) Feedback
40. How? - promotion
Publicity
Direct Marketing
Personal
selling
Advertising
Sales Promotion
Internet/websit
e
Online
marketing
Face to face
(Trade
shows)
49. The journey
Customer has
never heard of
me
Customer has
heard of me
Customer starts
to listen
Customer
makes decision
Customer buys
50. 3 P’s of getting visitors
Pull
Blogging
Podcasts
Guides / Whitepapers
Infographics
Webinars
Presentations
Seo
Social Media
LOPA
Push
Purchase Ads
Promo swap
Affiliates
Direct Sales
Product
Network invitations
• Email
• Phone
• Social
Social sharing
API integrators
Backlinks
Incentives
51. • What are you going to do to attract
your customers?
52. Objectives / ideal results
Thinking about the journey can you create some
MEASURABLE objectives for any if your marketing
activity?
53. Pirates and goals
Acquisition
•Unique visitors, number of pages, number of clicks
•Time on site, visitors by source
Activation
•Unique visitors – sign up, sign up conversion
•New account creation, opt in conversion
Retention
•Email click through, multiple log ins, length of use
•Returns to complete profile, returns to share
Referral
•Shares via email, social media
•Invites, referral conversion
Revenue
•Paid conversion, Leads by source, leads to sale conversion
•Sales, revenue
54. Messages
• Which marketing messages can you remember?
• Consider why the may have been memorable?
−What words were used?
−What was your perception of the business?
−Did they use a catchy slogan, music or
imagery?
56. The four elements of marketing
Marketing
Analysis
Planning
Action
Control
57. The four elements of marketing
Analysis
Building up a clear picture helps you focus your attention and marketing budget in the
right way.
Outside
• What outside factors could affect the
business?
• Who are your customers now, and who
could become customers?
• Who else could serve your customers, now
and in the future?
• What are your competitors up to?
Inside
• How can you best meet the needs of
customers?
• How much are you selling to each
customer?
• Does your advertising and promotion pay
for itself?
• Do you customers understand / appreciate
your strengths?
58. The four elements of marketing
Planning
Once you have analysed enough information, decide what you will do in both the long and short term
Decisions include:
• Who will you sell to?
• What will you sell them and how much
• Your image / brand
• What will you do to win and keep
customers?
• How will you stand out from the crowd?
• How will you keep ahead of your
competition?
• How will you communicate?
• How will you measure your success?
Plan
• Who will do what in each month, so it all
happens?
• What advertising and promotion will you do
and when?
• How will your products and services reach
your customers?
59. Planning
Objectives Stage Strategies Materials Goals
E.g. To gain
credibility and
leads
Awareness Networking
Blogging
Business Cards 100 visits on
website
1 customer
enquiry
60. The four elements of marketing
Actions
This is the best bit!! You’ll probably need a mix of different actions
• Actions that raise awareness of your business, such as networking and PR
• Actions that generate interest, such as advertising or creating a website
• Actions that make people want to buy such as selling and direct marketing
• Actions that keep your customers happy, like follow-up calls and promotional
gifts.
61. The four elements of marketing
Control
This often neglected part of marketing is measuring everything and using the results to make
adjustments to your plan
Questions
• Are you selling the right products and services to the right customers?
• Are their needs still the same?
• What are your competitors up to, and is it still working?
• Are your sales and profits on track?
• How will are you communicating with your customers?
The results of your measurements should complete the circle as they feed back into your analysis
and help you put together an even better plan next time.
62. Summary - top tips
1. Positivity – entrepreneurship isn’t war. Customers don’t care if you want to destroy the
competition. They want to know what benefits that derive from your company and its products or
services
2. Customer centric – Marketing is about what you do for your customers – not about what you
want to become. Announcing that you are the “leader” is focused on you NOT the customer
3. Self explanatory – Good ideas should be easy to explain – saving money, increasing revenue,
greater peace of mind
4. Specific – Target an intended customer – try not to do all things to all people
5. Relevant – ensure your core skills, your core products and services remain relevant to your
customers needs
6. Differentiated – Your marketing should not sound like your competitors – although you can learn
a lot from what they say
Editor's Notes
Simple definition of marketing by Kotler.
Go through each individual point to explain that marketing is a lot more than the typical perception of promotional marketing
Analysis, planning and implementation and control – goes looks at the 4 (or 5) steps of marketing.
Analysis - Understand what you want to get out of it and carry out some market research
Planning – plan what you are going to do – what messages will you send out to whom and when
Implementation – just do it
Control – the feedback bit – what worked, what didn’t. What can we improve on next time?
Desired exchanges – creating value – if the customer has greater expectations of your product or service than you have delivered the value will not have been created and there will not be a desired exchange
Target markets – who will you target? What does your ideal customer look like
Organisational objectives – this is not necessarily making sales it could be generating further awareness
Target market needs – this goes to addressing pains and gains – people do not buy products or services they buy solutions to problems
Pricing – ensuring that the price matches the quality and creates a valid desired exchange
Communication – the typical bit of marketing people understand – promotional marketing – telling people about your product or service
Inform, motivate and service the market – this focuses on the 4 stages which we will talk about later – Awareness, Interest, Desire, Action (AIDA)
Marketing put simply
Who are your customers – do you know who they are
What is your product / service – think about features, benefits and advantages
Why will people buy – the pains or gains they require – save money, better quality, generate more money etc
Purchase occasion – for example Christmas
Put simply relating marketing to the 5 w’s
How will the product be used – will it be one use and throw away in which case you are hoping for lots of repeat purchases or will it be keep for 3 – 5 years in which case you need high margins and less customers perhaps
How will you communicate with people – how will people find out about your products or services
How will people buy it – retailer, direct via your website, face to face, trade show etc.
Choosing the best customers to target in a B2C scenario
Geographics- where are your customers? Local, regional, National, international
What is their social economic class – is it relevant?
What are their demographics – age, income level, number of children, ethnicity, education level etc
Personality and lifestyle – what do they do, where do they hang out? What causes do they follow? What are their lifestyle habits – if we can know all of these then we can put our messages in front of them
Benefits sought – different customers want different benefits from the same products. Children want toys that are fun – parents want those toys to have an educational purpose – same toy different benefits
Purchase occasion – when will they buy?
Purchase behaviour – will it be a quick decision? Will it be a long decision making process? Generally the lower the price the quicker the decision making process. The higher the price the longer the decision making process and the more benefits and differences you will need to demonstrate in your marketing
Usage – how will the product be used – are you likely to get lots of repeat purchases
Perceptions and beliefs – how can you use influencers to create specific perceptions and beiefs about your products. Sports companies use famous sports people, perfume companies use famous actors / models. Are there any you could use?
Choosing business customers
The simpler ones –
Geography – where are you targeting
Industry – are you targeting a particular industry sector
Size – are you targeting a particular company size – number of employees, turnover, number of offices / retail shops. Are you going to target small independent retailers or large international retailers with multiple premises
More difficult
What is their choice criteria – is it price, experience, quality, delivery time? Why will they choose someone over someone else
How do they make a decision – who makes the decision – admin, head of department, finance, director etc. Different roles will look for different benefits
Company innovation – if you are targeting a company with a new innovative product or service will they accept it or are they stuck in their ways?
A look at targeting – who would you target these cereals to typically
Watch for the discussion on the first one – parents vs children
5 mins discussion
This then follows to the customer roles – who would you target with your marketing?
Customer / Payer – the person that funds the transaction
Consumer/user – the person that ultimately uses the product or service
Customer/buyer – the person that physically purchase the goods
N.B. Someone could also be all three.
Think of examples of when this could be 3 different people – for example children's clothing – there will perhaps be a main funder who will be different to the person that purchases the clothes, who is then different to the child who wears the clothes
Different roles will want to hear different benefits: e.g. the payer - value for money, the customer/buyer – returns policy and the consumer/user - comfort to use the clothes example again
Building a product – looking at the different areas of a product – the more we can add to the augmented product the greater the difference from our competitors and the greater value created for our customers.
An example of benefit building
Anyone can make a box on wheels
Any car manufacturer can create a car with a big engine or lots of gadgets
Not every car manufacturer can create a car with a cool status or perceived reliability
Going back to the point that the same feature will mean different things and different benefits to different people
Talk through a couple and try and get them to identify the 3 different target groups
Red – elderly or mobility impaired
Green – parents with young children
Black – young professional couples
Thinking about what you are saying – pass the “so what” test
Again go through a couple of the examples and try and provoke them to think about what they would say and how the little man would respond. Most of the time we things about our product or service that the little man would say “so what” to. We need to think about benefits rather than features – features are in the first column – “you said” benefits are in the “you replied” and “you elaborated” sections
Benefits are more powerful than features
Simple quiz to demonstrate how logos are important in identifying products / companies
Can groups or individuals name all 9? 10 mins
From top left
Swatch
Samsonite
Motorola
GE
AT&T
HSBC
BP
Tassimo
Beats
Different quiz on how shapes and packaging can support your brand identification
Name the products: Toblerone, Coca Cola and Marmite
Quick as most people will get them straight away
Important bit here though is that sometimes packaging can be more memorable than the product itself. If they are making a product how can they make it stand out with their packaging
The following are just some fun examples of how packaging allows some generally mundane products to stand out.
All are genuine products
Focus now on the difficulties of marketing a service
Variability is within the business – some lectures are better than others. The quality naturally varies. McDonalds try and reduce this by having a very large training manual.
Price as an important marketing tactic
Now onto promotion and communication to your ideal customers
5 stages – we have previously covered steps 1 and 2 so the focus is now on steps 3 and 4
The following are a quick flick through some nice examples of promotional marketing
And a more challenging couple
The buyer journey modern vs traditional
This is the process we all go through when buying something
We cannot buy anything until we have a desire in it. We cannot have a desire in something until we have an interest in it and we cannot have an interest in something unless we are first aware of it.
The more modern approach focuses on the need to build relationships with customers through engagement and nuturing before you try and sell.
The different ways that people can market their ideas – pull vs push and introducing and discussing how the product can market itself sometimes – e.g. dropbox which automatically incentivises you to share with friends. Hotmail which uses backlinks on its emails to market its email accounts. Social sharing buttons on services such as spotify to market the product on social media and websites and apps such as LinkedIn which encourage you to share with people within your contacts (phone / emails)
Which of the 3 types will be more successful for the businesses in the room?
5 – 10 mins
Can they create some SMART objectives for each of the 4 stages either get leads, get attention, get sales, provide after sale service
Or the AIDA / AENC model
How will they measure the effectiveness of any marketing activity at each stage
How we can create goals and targets for each stage of the process using the pirate methodology – AARRR (said in a pirate accent!)
5 – 10 min Discussion about key and well know marketing campaigns – what can we learn from them and how can we apply it to our ideas
Joke about wrong wording
Discussed in later slides
A template plan – can they do one as homework or if time allows in the session
What are their objectives
At what stage – AIDA
Strategy – what type of marketing will they do
Materials – what will they need
Goals – SMART goals to see if its worked