Winning Marketing Plans for Arkansas Small Businesses
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Powerpoint provided to Jonesboro Arkansas small business owners as part of a Write a Winning Marketing Plan workshop on Tuesday, February 5th at the ASU Delta Center for Economic Development by the ASU Small Business and Technology Development Center.
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Winning Marketing Plans for Arkansas Small Businesses
- 1. CREATE A MARKETING PLAN FOR THE 21ST CENTURY THAT WORKS! 7 Sentence Marketing Plan to Stay on TRACK Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center
- 2. THE ASU SBTDC • Training • Consulting • Financial Analysis • Market Research • Loan Package Development • Search Engine Optimization © ASBTDC 2011 All Rights Reserved
- 3. IN YOUR PACKETS • Attendee Record • Copy of Presentation • Handouts • Evaluation Form • REQUEST FOR COUNSELING FORM © ASBTDC 2011 All Rights Reserved
- 4. GETTING ACQUAINTED • Please introduce yourself • Please tell the group about your business • Products/services your business provides • One expectation for today‟s seminar © ASBTDC 2011 All Rights Reserved
- 5. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
- 6. FIRST WHAT IS MARKETING? Businesses have only two functions: INNOVATION MARKETING The ART of getting people to change their minds THE TRUTH MADE FASCINATING Your Chance to help your customers SUCCEED BUILD LASTING RELATIONSHIPS MARKETING IS MOTIVATION!!!!!!
- 7. Marketing is like flossing your teeth, if you don’t do it everyday you will have pain and agony down the road.
- 8. WHAT ARE YOUR GREATEST CHALLENGES?
- 9. WHAT ARE YOUR GREATEST CHALLENGES?
- 10. VALUE PROPOSITION 2-3 Sentences that DEFINES you, your product and services…. THAT DIFFERENTIATES YOU from the COMPETITION.. In a way that MATTERS to your TARGET MARKET More on creating a value proposition AND real life examples at our Storify article Stand Out from the Herd with a Value
- 11. FUNDAMENTALS 0F GOOD MARKETING Break “My World” into Market Segments KNOW the RIGHT Target Market(s) KNOW the RIGHT Communication Channel(s) KNOW Target NEEDS and WANTS CRAFT a COMPELLING MESSAGE KNOW how to ANALYZE results KNOW good TIME Management
- 12. THE STORY YOU HAVE A GREAT STORY TO TELL! What was your FAVORITE Fiction Story?
- 13. MARKETING CYCLE Researc h Review Plan Create © ASBTDC 2011 All Rights Reserved
- 14. RESEARCH • SWOT Analysis • Benefits • Competitive Advantage • Target Markets © ASBTDC 2011 All Rights Reserved
- 15. SWOT ANALYSIS Strengths Weaknesses Opportunities Threats © ASBTDC 2011 All Rights Reserved
- 16. Market Intelligence Services for Arkansas Businesses Herb Lawrence, ASU Center Director Small Business and Technology Development Center
- 17. BENEFITS CONNECT NOT FEATURES What does a 52 Chevy and Dinah Shore have to do with Cutting Edge 21st Century Marketing? You Tell Me!
- 18. FEATURES BENEFITS Professional Consulting Improve Sales/Revenues FREE Reduce Expenses Confidential Make More Money Variety of Areas Have a Better Life Cutting Edge Market Research Low-Cost Training Workshops SBTDC FEATURES AND BENEFITS
- 19. FEATURES BENEFITS 1. 1. 2. 2. 3. 3. 4. 4. 5. 5. YOUR FEATURES AND BENEFITS
- 20. COMPETITIVE ADVANTAGE • Many of your competitors offer the same benefits as you. • However, you have benefits that are unique to your business. • These are your competitive advantages. © ASBTDC 2011 All Rights Reserved
- 21. TARGET MARKETS • “Everyone” is not a target market • People with the desire and ability to buy your product/service • Consumer vs. Organizations © ASBTDC 2011 All Rights Reserved
- 22. REALITY 4% Customers Your 92% DON’T CARE! 4% ARE INTERESTED Business
- 23. 4% CUSTOMERS 68% of Business is LOST due to Customers being Ignored AFTER the Sale..no follow up Loyal Customers: More Transactions Buy more Refer
- 24. CONCENTRATE OF 4% WORK to Maintain Customer Contact Develop systematic follow up plan MOST DEADLY ENEMY: Apathy After the Sale Example of Follow up: 1 Week E-mail thanking for purchase 1 month Letter or CALL about satisfaction 3 Month recommend connecting with first purchase 6 Month Offer something new 1 Year: Customer Anniversary Card
- 25. EXERCISE What are your competitive advantages?
- 26. EXERCISE What are your target markets
- 27. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
- 28. LET’S TAKE A BREAK!
- 29. FINDING THE CHANNELS Advertising: Challenges Can be Costly Newspapers Repetition KEY Magazines Television GOLDEN Radio Direct Mail RULE: It will take an average of Telemarketing 27 TOUCHES for your Trade Shows advertisement to be noticed by consumers
- 30. CHANNELS
- 31. SO MUCH NOISE
- 32. BACK TO REALITY…. 4% Are or have been Customers 92% DON’T CARE! Your 4% ARE INTERESTED Business in WHAT YOU SELL
- 33. TODAY CUSTOMERS FIND US… IF WE HAVE PUT OUT THE BREAD CRUMBS
- 34. ON-LINE MARKETING Your Customers Are Searching For You 90% of consumers SEARCH Online To find information about businesses. BUT only 52% of Small Businesses have a website!
- 35. WHY CUSTOMERS SEARCH ON LINE 83% Consumers use Search Engines for specific brands and products 80% Search for specific product or brand before buying ON-LINE 78% do Info search queries after seeing advertisement or brand elsewhere 76% Search about specific brands or products before purchasing OFF-LINE 78% Search to find BEST PRICES on product 74% Search to find WHERE they can purchase
- 36. STAYING IN TOUCH WITH CUSTOMERS
- 37. FEEDING THE CASH REGISTER Email BLOG Local Off-Line Search Web Site
- 38. GETTING THE WORD OUT Spread the word on the RIGHT Channels Post it on a site that search engines can index Where we create content to FEED our BlogCreate Content in a Form Customers Want
- 39. CREATING AN ONLINE PLAN STEPS Pre-planning Listento the conversations Create TARGET profile Set Specific Goals Join Conversation Measure Return
- 40. STEP 1 PREPLANNING WHAT ARE YOUR CURRENT CHANNELS? E-Mail? Direct Mail Newsletter Websites s
- 41. STEP 2 LISTEN TO THE CONVERSATION Secure your brand on social platforms Blogs, twitter, Facebook, LinkedIn Usernames unique Try to be consistent Set up monitoring platforms Google Alerts SocialMention.com Technorati Twitter Search
- 42. STEP 3 CREATE TARGET PROFILE Find KEY attributes by Listening Chart out their presence in social media Market Segmentation Demographic Geographic Psychographic Behavioristic Continue to gather customer information along the way
- 43. Pinterest 2012 Stats and Figures…Plus How to Leverage Pinterest We love to Pin Interesting information at the ASU SBTDC Boards
- 44. STEP 4 SET SPECIFIC GOALS Brand Awareness/Advocacy Increase Traffic/Opt-Ins Business Partnerships Search Engine Results Generate Leads Reduce CRM Costs Increase Revenues
- 45. STEP 5 – JOIN THE CONVERSATION Establish an Editorial Calendar Choose schedule for days you will post Keeps on Track & Organize Content Consistency Helps when you need Content Ideas
- 46. STEP 6 – MEASURE ROI WHAT IS ROI? Non-Financial: Visitors WOM Page Views Fans & Followers FINANCIAL Sales Revenue Transactions Coupons
- 47. HOW TO FIND THE RIGHT SITES
- 48. EXACTLY WHO USES SOCIAL NETWORKS? ARE THEY MY POTENTIAL CUSTOMERS? Get detailed user data for 2012 at the ASU SBTDC Pinterest Site at our Social Network Stats 2012! http://pinterest.com/astatesbdc/
- 49. MONITORING TOOLS http://www.google.com/alerts https://twitter.com/search http://www.socialmention.com/ http://addictomatic.com/ Listen to the conversations! Read detailed “How To” set up at our storify posts http://storify.com/asbtdc_asu/monitoring
- 50. MONITOR FOR: Your business or organization Your Competition Your product or service Industry
- 51. INDUSTRIAL ESPIONAGE Follow your competition on social media See what networks they use Evaluate how they connect Evaluate “value” they add to customers Reactions of followers, fans, subscribers, etc. STEAL What works! AVOID what isn‟t working
- 52. WHAT IS GOOD CONTENT Educates Informs Entertains Provides Value Builds Trust Creates Relationships…then SELLS……
- 53. HOW TO SPREAD CONTENT Video Images, pictures – Articles Infographics eBooks/White Papers Webinars Podcasts Coupons/discounts/special offers Know how subscribers in different networks PREFER to receive your content
- 54. TOOLS TO CREATE CONTENT Slideshare.com upload your PowerPoint, word documents, pdf files, brochures, even video online to share with your audience Animoto.com Video creation and sharing tool that allows you to upload images and short video clips, add text, then mix with a great music library to share with your fans. Storify.com Online curation site bring information from Google, Facebook, Twitter, YouTube, Instagram and more. Perfect for quick creation of information in appealing format. YouTube – Fits as both a support tool and as its own social network. Shoot video from anywhere, upload to YouTube and share on your sites. Get more information about Slideshare, Animoto and YouTube at our Storify article “Tools to Create GREAT Content”
- 55. TOOLS TO SAVE TIME Hootsuite.com Buffer.com Tweetdeck.com Facebook Page Scheduler Read all about these and other scheduling tools at our Storify article “Scheduling Tools for Beginners”
- 56. CROSS CHANNELS Social and Traditional are Combined for SYNERGY Posting WHERE your potential Customers are Understand „NEW RULES” for Social Media Marketing SOCIAL MEDIA is NOT easy or FAST.
- 57. HOW CUTTING EDGE MARKETERS WIN 1. Research the Marketplace 2. Write a Benefits List 3. Select Proper Marketing Weapons 4. Create Your Marketing Plan 5. Create a Marketing Calendar 6. Look into Fusion Marketing Partners
- 58. 7 SENTENCE MARKETING PLAN SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY
- 59. CONTACT THE ASU SBTDC E-Mail hlawrenc@astate.edu or asusbtdc@astate.edu Website: http://www.astate.edu/a/sbtdc/ ASU Small business Blog http://www.asbtdc- asu.com Facebook http://www.facebook.com/asu.sbtdc Facebook http://www.facebook.com/herb.lawrence Twitter: http://www.twitter.com/asbtdc_asu LinkedIn http://www.linkedin.com/in/asusbtdc OR CALL ME: (870) 972-3517 or cell 897-5125
Editor's Notes
- SUCCEED: it is helping customers ACHIEVE THEIR GOALSCREATING LASTING RELATIONSHIPSPROCESS NOT EVENTHere too: marketing is NOT… complicated, it is not a miracle worker, nor a stage for humor
- Fundamentals of successful marketing have not changed JUST THE TOOLS
- All successful businessmen ARE GREAT MarketersAll successful marketers ARE GREAT story tellersTrick: What story will facinate your target audienceAsk class to share their favorite fiction book when growing up and why they liked itGreat Stories: Transport reader to a better place they would like to be OR is a Warning
- Handout Worksheet
- http://www.youtube.com/watch?v=KGZvQoPxhNs&playnext=1&list=PLA16325FDB7BA3724&index=1Chevrolet didn’t sell features instead sold a concept to WWII Vets Growing professional class, GI Bill creating families rise of interstates all set this commercial to be a success
- Handout Worksheet
- Handout WorksheetChoosing a target market should be based on Sales potentialGrowth OpportunitiesCompetitionAbility to serve that market
- http://www.youtube.com/watch?v=5YGc4zOqozoHappy customers come back more oftenIncrease number of transactions per customerIncrease purchases per transactionReferral power
- Demographic: age gender family size social class incomeGeographic region, population, climatePsychographic activities, interests, opinions, attitudesBehavioristic brand loyalty, benefits sought, readiness bo buy
- The what is ROI link is to an old video on ROI for social media
- Link to let them go to our Pinterest board that has infographics of demographic data about the top social sites
- Note: social mention is still available but will not allow for email delivery anymore. Also the bottom link is an article I curated on how to use listening tools
- Scheduling tools again hot links but to my sites may need login to access or use your own. Also bottom link is article I put together on how to use them