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How service firms might develop and implement a Marketing Strategy prepared by The MIS Department (Later 2SS.Com) for Management Advisory Services a local business and marketing consulting firm.
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
A Marketing Strategy for A Marketing Strategy for Service FirmsService Firms
Q.Q. What kind of strategy would bestWhat kind of strategy would bestserve Growth & Profit serve Growth & Profit
objectives?objectives?
A.A. A Direct Marketing ProgramA Direct Marketing Program
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Direct Marketing ProgramDirect Marketing ProgramThe DMP is...The DMP is...
Three Tiered Marketing SystemThree Tiered Marketing System Designed to HelpDesigned to Help service Firmsservice Firms Increase Business to BusinessIncrease Business to Business
SalesSales
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Why a DMP???Why a DMP???
Traditional “Rainmaking” and Traditional “Rainmaking” and Networking is no longer enoughNetworking is no longer enough
Increasing intensity of competitionIncreasing intensity of competition Power of informational technologies Power of informational technologies
>> adapt or fall behind>> adapt or fall behind Price / cost pressures force pursuit of Price / cost pressures force pursuit of
marketing leveragemarketing leverage
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
... But Most Important... But Most Important
The need to replaceThe need to replace
an episodic effortan episodic effort
with a with a sustainedsustained, , focusedfocused,,
and and disciplineddisciplined marketingmarketing attackattack
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier I - Strategic Marketing PlanTier I - Strategic Marketing Plan
Custom TailoredCustom Tailored ComprehensiveComprehensive Easy to ExecuteEasy to Execute
Goal: The development of a Goal: The development of a purposeful plan of action purposeful plan of action
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DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier II - Desk Top Marketing Tier II - Desk Top Marketing SoftwareSoftware
AcquisitionAcquisition InstallationInstallation ConfigurationConfiguration
Goal: Identify & harvest high Goal: Identify & harvest high potential prospects potential prospects
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DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier III - Implementation ChoicesTier III - Implementation Choices In-HouseIn-House SBA’sSBA’s Out-Source... 3 levels:Out-Source... 3 levels:• CoachingCoaching• Project ManagementProject Management• Hands-OnHands-On
Goal: Executing the planGoal: Executing the plan
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier I - Strategic MarketingTier I - Strategic MarketingPlan Development (1 of 3)Plan Development (1 of 3)
Grand strategy & opportunity reviewGrand strategy & opportunity review Analysis of new sales and customer Analysis of new sales and customer
retention trendsretention trends Assessment of promotional materialsAssessment of promotional materials
((ContinuedContinued) )
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Strategic MarketingStrategic MarketingPlan Development (2 of 3)Plan Development (2 of 3)
Targeted customer analysis and profile:Targeted customer analysis and profile:• DemographicsDemographics• PsychographicsPsychographics• Buying patterns, behaviors & trendsBuying patterns, behaviors & trends• Must be ... Sizable, Definable and Must be ... Sizable, Definable and
ReachableReachable
((ContinuedContinued) )
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Strategic MarketingStrategic MarketingPlan Development (3 of 3)Plan Development (3 of 3)
Selection of “marketing missiles”Selection of “marketing missiles” Implementation of game planImplementation of game plan Budget requirementsBudget requirements
((ContinuedContinued) )
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier I - DeliverableTier I - Deliverable
A comprehensive, customized and A comprehensive, customized and easy to execute marketing planeasy to execute marketing plan
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DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Targeted Customer ProfileTargeted Customer Profile(1 of 3)(1 of 3)
Industry TypeIndustry Type # of Employees# of Employees Years in BusinessYears in Business
LocationLocation Annual SalesAnnual Sales ownership Typeownership Type
((ContinuedContinued))
Some demographic Some demographic Characteristics of businesses...Characteristics of businesses...
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Targeted Customer ProfileTargeted Customer Profile(2 of 3)(2 of 3)
Phychographic Characteristics...Phychographic Characteristics... CultureCulture Industry LeaderIndustry Leader Conservative Vs Risk TakerConservative Vs Risk Taker Management StyleManagement Style
Fiscally PrudentFiscally Prudent Technology OrientedTechnology Oriented Socially ResponsibleSocially Responsible Environmentally ConsciousEnvironmentally Conscious
((ContinuedContinued))
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Targeted Customer ProfileTargeted Customer Profile(3 of 3)(3 of 3)
Other Relevant Characteristics...Other Relevant Characteristics...
Trade Association Trade Association MembershipsMemberships
Publications & Publications & SubscriptionsSubscriptions
State in Business State in Business Maturation CycleMaturation Cycle
Workforce TypeWorkforce Type Community ActivitiesCommunity Activities
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
11
Please see the FlowPlease see the FlowChart titled:Chart titled:
GUIDE TO GUIDE TO DEVELOPINGDEVELOPINGA STRATEGIC A STRATEGIC
PLANPLAN
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier II - Desk Top Marketing Tier II - Desk Top Marketing Software...Software...system support for prospectsystem support for prospect
IdentificationIdentification TrackingTracking CultivationCultivation
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D M P
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Desk Top Marketing Software Desk Top Marketing Software (1 of 2)(1 of 2)
Acquisition and Installation ... of two powerful Acquisition and Installation ... of two powerful and inexpensive software tools:and inexpensive software tools:• Prospect ManagerProspect Manager• Contact ManagerContact Manager
((ContinuedContinued))
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D M P
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Desk Top Marketing Software Desk Top Marketing Software (2 of 2)(2 of 2)
Configuration of the contact Configuration of the contact Management software to match Management software to match the strategic marketing plan. the strategic marketing plan.
Training on the use, management Training on the use, management and capabilities of the software and capabilities of the software tools ... and their interface.tools ... and their interface.
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DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier II - DeliverableTier II - Deliverable
An up and running system to An up and running system to support the identification and support the identification and tracking of high potential tracking of high potential prospect leadsprospect leads
R1R1
DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Why a Contact Management Why a Contact Management Database?Database?
Think of it as a Think of it as a SUPERSUPER Rolodex!!! Rolodex!!!
R1R1
D M P
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Record every prospect lead and Record every prospect lead and customercustomer
Capture information critical to an Capture information critical to an effective marketing efforteffective marketing effort
((ContinuedContinued))
Contact Management SoftwareContact Management Softwareis a means to... is a means to... (1 of 4)(1 of 4)
R3R3
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Track all significant contact activity:Track all significant contact activity:callscalls meetingsmeetings direct maildirect mail
salessales proposalsproposals inquiriesinquiries
attendance at eventsattendance at events responses to adsresponses to ads
Note information that can be used to Note information that can be used to plot sales strategyplot sales strategy
((ContinuedContinued))
Contact Management SoftwareContact Management Softwareis a means to... is a means to... (2 of 4)(2 of 4)
R3R3
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Identify prospects by characteristics Identify prospects by characteristics that relate to different needs and that relate to different needs and servicesservices
Spend your marketing $$ and time on Spend your marketing $$ and time on the prospects you are most likely to the prospects you are most likely to convert to customers convert to customers
((ContinuedContinued))
Contact Management SoftwareContact Management Softwareis a means to... is a means to... (3 of 4)(3 of 4)
R3R3
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Identify customers ready for the next Identify customers ready for the next salesale
Group customers to facilitate trip Group customers to facilitate trip scheduling & drop-by’sscheduling & drop-by’s
Cultivate suspects ... to ... prospects Cultivate suspects ... to ... prospects ... to ... CUSTOMERS... to ... CUSTOMERS
Contact Management SoftwareContact Management Softwareis a means to... is a means to... (4 of 4)(4 of 4)
R3R3
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Configuring the DatabaseConfiguring the Database
Means selecting the type of Means selecting the type of information you will capture for information you will capture for each prospect lead or customereach prospect lead or customer
Information Information relevantrelevant to your to your marketing strategymarketing strategy
R2R2
DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
RuleRule
The right kind of contact repeated The right kind of contact repeated over time will generate new over time will generate new customers ... and additional sales customers ... and additional sales from existing customersfrom existing customers
R1R1
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
11
Please see the FlowPlease see the FlowChart titled:Chart titled:
DESK TOP DESK TOP MARKETING MARKETING
SUPPORT SUPPORT SYSTEMSYSTEM
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier III - Implementation...Tier III - Implementation...First , AssessFirst , Assess
Internal CapabilityInternal Capability Budget / cost advantageBudget / cost advantage preference (style - control - preference (style - control -
coordination)coordination)
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Then, decide execution ... for Then, decide execution ... for each marketing missileeach marketing missile
In-HoursIn-Hours SBA’sSBA’s Out-source - 3 ChoicesOut-source - 3 Choices• CoachCoach• Project ManagementProject Management• Hands-OnHands-On
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Typical “Missiles” for service Typical “Missiles” for service Firms:Firms:
TelemarketingTelemarketing SeminarsSeminars Writing ArticlesWriting Articles Direct MailDirect Mail
Print AdvertisementPrint Advertisement NewslettersNewsletters Promotional Promotional
materialsmaterials and more!and more!
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Tier III - Deliverable:Tier III - Deliverable:
Implementation of the marketing Implementation of the marketing missiles aimed at high potential missiles aimed at high potential customer groups and individual customer groups and individual leadsleads
11
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
11
Please see the FlowPlease see the FlowChart titled:Chart titled:
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Benefits (1 of 3)Benefits (1 of 3)
Increase sales, profits and Increase sales, profits and customer retentioncustomer retention
Improve “yield” on time & money Improve “yield” on time & money spent to generate salesspent to generate sales
((ContinuedContinued))
33
DMP
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Benefits (2 of 3)Benefits (2 of 3)
Build a customer base that better matches Build a customer base that better matches their unique nichetheir unique niche
Selectively use “out-sourceing” to minimize Selectively use “out-sourceing” to minimize internal administration and lower customer internal administration and lower customer acquisition costsacquisition costs
((ContinuedContinued))
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Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
Key Benefit (3 of 3)Key Benefit (3 of 3)
Replace an episodic sales effort Replace an episodic sales effort with a....with a....• FocusedFocused• SustainedSustained• Systematic marketing programSystematic marketing program• and, gain a competitive edge!and, gain a competitive edge!
11
Prepared for Prepared for by The MIS Departmentby The MIS Department
04/11/2304/11/23
Management Advisory ServicesManagement Advisory Services
The Customer PipelineThe Customer Pipeline
55
Universe of Business prospectsUniverse of Business prospects
Qualified ProspectsQualified Prospects
Launch Marketing MissilesLaunch Marketing Missiles
Contact ManagementContact Management
Proposals New CustomersProposals New Customers
D M P...DMP Implementation...DMP Implementation
