Marketing Marketing for Growthfor Growth

Wayne BrassWayne BrassWayne BrassWayne Brass

Art MahoneyArt Mahoney

Rob DuncanRob Duncan

Marketing is…

• the combination of

varying methods and

strategies to get your

product or service product or service

into the minds and

hands of prospective

buyers.

Define Your Target Market

• What potential customers have specific needs

that can be addressed by the product/service?

• How might potential customers choose to access

the product/service?the product/service?

• How much are potential customers willing to pay

and how?

• Who are the competitors?

Define Your Target Market

• Behavior

• Benefit

• Demographic

Segmentation Strategies

• Demographic

• Geographic

• Psychographic

Competitive Analysis

• Where are people currently filling this need?

• Who are your competitors? Direct & Indirect

• Why do people buy from them?

• What are their products/services?

• What are their USPs (Unique Selling

Propositions) and Benefits?

• How do they market? Is it working?

• What do you offer that your competitors don’t?

• Are you selling Features? or Benefits?

– Benefits are the problem it solves.

Defining the Product / Service

Focus on Benefits

• Every buying decision has an emotion attached

to it.

• Emotion is what you touch when you sell

benefits and not features.benefits and not features.

Why Market a Product / Service?

• If you don’t, who will?

• How will your customers know to find you?

• How do you know you are reaching your

potential customers?potential customers?

Outbound Marketing Includes

• Sales

• Advertising and Promotions

• Public Relations

• Networking

• Internet Marketing

• Customer Service

• Customer Satisfaction

ELEVATOR PITCH

• Introductions

• Sales Opportunities

• Employment Tactic

• Raise Money

Branding Strategy

• Brand Name

• Packaging

• Ad Content

• Image and Culture

• Consistency

• Sales Force

• Value / Pricing

Your Marketing Plan

• Include:

– Descriptions of type of marketing

– A marketing timeline

– Probable reach or coverage– Probable reach or coverage

– Estimated cost

– Number of uses

– Short explanation of thought process

– Expected result (ROI)

Your Marketing Plan

• Determine which Marketing Tactics you will use

to get your message to your audience.

• Write it all down.

• Keep good records – so you can evaluate later!!• Keep good records – so you can evaluate later!!

Marketing Tactics Include…

• Advertising

– Media – radio, television, infomercials

– Print – newspaper, magazine, classified, yellow pages

– Mini-Media – business cards, stationary, brochures, – Mini-Media – business cards, stationary, brochures, flyers, banners, signs, posters, newsletters, coupons, door hangers, gift certificates, direct mail, catalogs, etc

– Other/Extreme - outdoor boards, bus wraps, sponsorships

Marketing Tactics Include…

• Sales

– Personal sales, Telemarketing

• Public Relations

– Publicity & Press Releases– Publicity & Press Releases

• Promotions and Premiums

– Contests and Sweepstakes

– Events

– Frequent Buyer Programs

– Loyalty Programs

Marketing Tactics Include…

• Networking

– Everyone you know, Everyone you meet

– Community Involvement

– Trade and Professional Associations– Trade and Professional Associations

• Internet Marketing / Web Site

– Can be advertising

– Can be a distribution channel

– Can be your location

You Must Have a Plan!

• Random or one-shot marketing and advertising

efforts almost NEVER work!

Referrals and Repeat Customers

• 90% will take a referral over a sales person

• Need to see your name up to 9 times through

advertising efforts to achieve awareness!

• Easier & cheaper to retain an existing customer • Easier & cheaper to retain an existing customer

than to find a new one

Any given company loses between 20 and 40

percent of their customers annually!

Importance of Customer Service

• Customers return and purchase again

• Customers try new products

• Customers tell others about our business,

products or servicesproducts or services

Customer Satisfaction

Why do Customers Leave?

Reason Given Percentage

Move or Die 4%

Other Company Friendship 5%

Why do Customers Stay?

• Unanimously Report

“Because they care!”

Other Company Friendship 5%

Competition 9%

Product Dissatisfaction 15%

Feel Unappreciated by an

Uncaring Company

67%

Plan Ahead

• Do an annual S.W.O.T. Analysis

– Strengths, Weaknesses, Opportunities, and Threats

• Run with a strategy at least 3-6months

• Monitor and measure the results.• Monitor and measure the results.

• Be flexible and adaptable

• Remember main keys - Benefits & Frequency.

S W

SWOT Analysis

Internal

Strengths

Weaknesses

O TExternal

Opportunities

Threats

Questions?Questions?

Thank you!!Thank you!!

www.sbdctampabay.comwww.sbdctampabay.comwww.sbdctampabay.comwww.sbdctampabay.com

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