WHITEPAPER
15-Steps to Effective Marketing
Luftig Warren’s Educational Marketing System TM
(EMS) seamlessly integrates the...
ii 15-Steps to Effective Marketing Luftig Warren
Copyright © 2005-2007 Luftig Warren. All rights reserved.
The information...
iii 15-Steps to Effective Marketing Luftig Warren
Contents
Have a Plan 1
Conduct an Internal Audit 1
Analyze your Industry...
WHITEPAPERS
15-Steps to Effective Marketing
VINCE KOSTELNIK
LUFTIG WARREN
Have a Plan
There’s something about performing a...
Step 2: Analyze your Industry
Is your industry growing, stagnant, or declining? This is critical – if your industry
is sta...
3 15-Steps to Effective Marketing Luftig Warren
Step 6: Develop your Strategic Marketing Plan
Once you have completed your...
Step 11: Develop your Tactical Marketing Plan
Now that you have developed your message, it’s time to develop your tactical...
5 15-Steps to Effective Marketing Luftig Warren
Step 15: Track Results
Keep track of your results. How much you spend, and...
Upcoming SlideShare
Loading in …5
×

Luftig Warren’s 15 Steps to Effective Marketing

454 views

Published on

Published in: Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
454
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
10
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Luftig Warren’s 15 Steps to Effective Marketing

  1. 1. WHITEPAPER 15-Steps to Effective Marketing Luftig Warren’s Educational Marketing System TM (EMS) seamlessly integrates the sales and marketing functions and delivers qualified leads.
  2. 2. ii 15-Steps to Effective Marketing Luftig Warren Copyright © 2005-2007 Luftig Warren. All rights reserved. The information contained in this document represents the current view of Luftig Warren on the issue discussed as of the date of this publication. Because Luftig Warren must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Luftig Warren, and Luftig Warren cannot guarantee the accuracy of any information presented after the date of publication. This white paper is for information purposes only. LUFTIG WARREN MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS DOCUMENT. Luftig Warren may have trademark, copyright or other intellectual property rights covering the subject matter of this document. Except as expressly provided in any written license agreement from Luftig Warren, the furnishing of this document does not give you any license to these trademarks, copyrights or other intellectual property. Luftig Warren 50 West Big Beaver Rd., Suite 130 Troy, MI 48084 248-680-8864
  3. 3. iii 15-Steps to Effective Marketing Luftig Warren Contents Have a Plan 1 Conduct an Internal Audit 1 Analyze your Industry 2 Define your Target Market 2 Conduct Client Surveys 2 Analyze your Competition 2 Develop your Strategic Marketing Plan 3 Determine the Educational Timeline & Buying Process 3 Gather Evidence 3 Innovate 3 Develop your Strategic Message 3 Develop your Tactical Marketing Plan 4 Standardize your Sales System 4 Develop & Implement a Lead Generation System 4 Develop a Continuing Education System 4 Track Results 5
  4. 4. WHITEPAPERS 15-Steps to Effective Marketing VINCE KOSTELNIK LUFTIG WARREN Have a Plan There’s something about performing a task solely for the sake of performing it that drives most people crazy, myself included. Behind everything we do, we like to have a sense of purpose and organization. Without that organization, the wrong things get done or worse yet, nothing gets done. There’s a saying that goes, “the best decision is the right one, the second best decision is the wrong one, and the worst decision is doing nothing at all.” Marketing is no exception. But, to do it effectively, you must have a plan. This guide divides the marketing process into three phases. Phase 1 is Research and Analysis, including steps one through five. Phase 2 is Development, including steps six through ten. Phase 3 is Implementation, including steps eleven through fifteen. Most marketing firms spend little time on Phase 1, skip most of Phase 2, and go straight to tactical implementation in Phase 3. However, without laying the proper groundwork and spending significant time on the strategic marketing plan, the tactical marketing will not be effective. “…the worst  decision is to do  nothing at all.”  For some, this guide will be all you need to get up and running. For others, you’ll need some assistance to get your marketing plan in place. Whatever you do, remember this: the worst decision you can make is to do nothing at all. * * * Step 1: Conduct an Internal Audit Start by collecting and organizing relevant data about your business. Chart your sales over the last few years, your total clients, and recent client activity. Identify your current marketing and sales processes, and your company’s perception of your client’s expectations. Record your company’s views regarding your client’s buying process. Finally, assign values in the areas of importance, emotional intensity, duration, and frequency to key factors in the clients’ decision-making process, and rank them in order. 1 15-Steps to Effective Marketing Luftig Warren
  5. 5. Step 2: Analyze your Industry Is your industry growing, stagnant, or declining? This is critical – if your industry is stagnant or declining, there may be no point in continuing to develop your marketing plan. What opportunities exist? Threats? What innovations are on the horizon that could change the industry? What technological advances will affect the future of industry? Create a SWOT analysis by listing the Strengths and Weaknesses of your company and the Opportunities and Threats in your industry. Step 3: Define your Target Market “Identify what the  prospect would  need to see, hear,  or learn to make a  better decision…”  Determine who your primary target market is. If you haven’t targeted your audience, your marketing won’t be effective. Be as specific as possible. Take into account demographics, location, age, gender, economic status… the more specific you are, the more effective your message will be because it will be tailored to appeal to a unique audience. Step 4: Conduct Client Surveys Create and conduct surveys of current, previous, and potential clients to find out what matters most to them, what frustrations they have regarding your service, your product, or general industry dissatisfactions. Dig deep to discover the core issues. Check any assumptions you made during the first step against the data you acquired and revise your plan as necessary. This is the foundation for all of your future marketing efforts. Most businesses skip this step in their marketing development. Even those who conduct client surveys typically ask ineffective questions, resulting in useless data and wasted time. Luftig Warren specializes in developing and conducting targeted and specific surveys, asking the right questions so we end up with critical information about your clients. Without asking the right questions, your marketing doesn’t stand a chance. Step 5: Analyze your Competition Create and conduct competitive surveys to find out what your competitors are saying and doing, identifying areas of weakness and opportunity. Make note of where the competition fails to address important client needs. Consider what your company can do to address client needs that the competition ignores. 2 15-Steps to Effective Marketing Luftig Warren
  6. 6. 3 15-Steps to Effective Marketing Luftig Warren Step 6: Develop your Strategic Marketing Plan Once you have completed your client, prospect, and competitive surveys, develop your strategic marketing plan. Create competitive positioning maps, determine your unique selling proposition and overall competitive strategies. This should be comprehensive and heavily referenced from the data you compiled in steps one through five. Step 7: Determine the Educational Timeline & Buying Process Define your target market’s buying process, from the moment they start thinking about buying what you sell to the time they purchase. Once you have defined the client buying process, determine what type of information would help facilitate your prospects decision at each step. Identify what the prospect would need to see, hear, or learn to make an educated decision at each point. Then develop it. Step 8: Gather Evidence So you think you’ve built a better product or provide services superior to your competitors? Prove it. You need to gather evidence that supports your claims. Otherwise, your prospects simply won’t believe you. Step 9: Innovate After you have determined your target market’s hot buttons, analyze your business and see how your company responds to each point. Wherever you do not meet your prospects’ expectations, innovate; make a change for your benefit. Innovate until you eliminate every frustration your target market has identified. Step 10: Develop your Strategic Message What you say and how you say it are just as important as where and how often you say it. Develop your strategic message so you address your target market’s critical issues and how your business overcomes any frustrations they have. Make sure to avoid generalities and statements made so often, they’ve become commonplace and meaningless (ex. “highest quality”, “best client service”, “best value”, etc.). Use simple, direct, and emotional language to spur prospects to take action. “Make note of  where the  competition fails to address  important client  needs.”   
  7. 7. Step 11: Develop your Tactical Marketing Plan Now that you have developed your message, it’s time to develop your tactical marketing plan, or how you will deliver your message to your target market. Using the customer and prospect feedback you gathered in step four, identify the top 3 or 4 delivery vehicles to deliver your message effectively. Integrate your tactical vehicles with the educational timeline and buying cycle you developed in step seven. Step 12: Standardize your Sales System Most sales systems are haphazard at best. From the receptionist to the sales person to the executive vice president, everyone has a different way of handling a lead. Standardize the entire sales system, from point of contact to the sale, so that every prospect hears your entire sales message, is treated the same, and is never dropped between the cracks. This eliminates the need to “re-invent the wheel” every time there is a change in the organization. If your organization has a system in place to handle every client, there is consistency at every point of contact. Step 13: Develop & Implement a Lead Generation System Write your “lead generators” to hit as many of the hot buttons as possible that were identified and confirmed by your customer surveys. Develop 5-10 lead generators and assign a code to each so that you can determine which works the best. When deployed, this information will then be captured when leads contact you. Create a database to keep track of all of your potential customers. Use the Luftig Warren Marketing Evaluation Guide to evaluate all of the marketing tools before money is spent. Once you have created your lead generation system, test it with a sample of your current clients. Revise the “Lead Generators” based on actual feedback. Next, test out a sample of 5-10% of your prospect base, depending on its size. Test the response and make any changes necessary. Step 14: Develop a Continuing Education System Create a system to regularly communicate with your prospects (and ultimately your customers) in order to further facilitate their decision-making capabilities. Any lead that isn’t converted into a customer should be added to your “Hopper System” so you can communicate to them regularly at every point along the “Educational Timeline” in step 11. 4 15-Steps to Effective Marketing Luftig Warren
  8. 8. 5 15-Steps to Effective Marketing Luftig Warren Step 15: Track Results Keep track of your results. How much you spend, and how much return you get on your investment per dollar spent. Establish reasonable goals and compare them to your actual results. Determine your effectiveness and revise your marketing campaign where and when necessary. Use an ROI sheet to determine your campaigns effectiveness. * * * Vince Kostelnik is a senior marketing advisor for Luftig Warren, specializing in strategic marketing development. Luftig Warren is a business consulting services firm‚ specializing in business growth strategies and tactics. Luftig Warren applies a comprehensive understanding of marketing principles to solve clients’ specific business challenges in three key areas: revenue growth, new client acquisition, and client retention. For more information on implementing a full marketing system into your organization, contact us or visit us on the web at www.luftigwarren.com.

×