THE FASTEST 2 HOURS IN MARKETING

A workshop to quickly learn and apply proven marketing principles.

Q. How do you grow a business?

A. Marketing

What is Marketing?

Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.(??!)

What is Marketing?

* Creating and communicating customer value. *

1. Develop/improve website 2. Search Engine Optimization3. TV ads 4. Newspaper ads5. Radio ads 6. Magazine ads7. Ad mail/flyers 8. Database/e-mail marketing9. Online ads 10. Web links 11. Out-of-home/billboards 12. Directory advertising13. In-store/p.o.s. signage 14. Hire salespeople15. Consumer/trade shows 16. Create a sale event/promotion17. Sampling 18. Community sponsorships19. Public relations 20. Blog/Facebook/editorial 21. Networking 22. Referrals23. Advocates 24. Internal mktg.

MARKETING – The 24 Tactics

ADVERTISING

CORPORATE COMMUNICATIONS

PROMOTION

PUBLIC RELATIONS

DIRECT SELLING

Pricing

Product Selection

Distribution/Locations

Staffing/Training

MARKETING - Components

The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.

Peter Drucker

Why should your customers buy from you?

What can you say to convince them?

Customers must recognize that you stand for something.

Howard Schultz

MARKETING - strategy

Where do you start?

The 4 P’s: Product Place Price Promotion

Or a S.W.O.T. Analysis? Strengths Weaknesses Opportunities Threats

MARKETING – Strategy Development

For most companies, an effective strategy is achieved by working through The 4 M’s of Marketing…

What do you want your marketing strategy to do? Attract new customers Increase margins Grow current customers

MARKETING - objectives

Build brand image Sell product now Create demand…

PR

ICE

SUPPLY/DEMAND

What influences marketing strategy?

MarketM

otivator

s

Messages

MediaMar

ketin

g an

alys

is

Marketing control

Mar

ketin

g im

plem

enta

tion

Marketing planning

Competitors

Suppliers Shareholders

Marketing Channels

Legal Environment

Economic Environment

Technology/Nature

Social/Cultural

What can you be the best in the world at?

Jim Collins

Your MARKETAnalyze your Target Market and your Competitive Market…

Who is your best customer? Demographics … age, income, household size … Psychographics …what are their Values/Attitudes/Lifestyles? Geographics … where do they live, work, shop? Media habits … are they heavy users of any media? Influencers … can your target’s influencers be targeted?

How large is your Target Market? How many Target Markets?Are there other potential markets for growth?

Identify your Core Competency and then your Value Proposition (or Unique Selling Proposition)

Then consider your competitors and their strengths and weaknesses 1. ______________ s/w:___________________________________2. ______________ s/w:___________________________________3. ______________ s/w:___________________________________

• Where is the opportunity for you to be positioned? • What position can you own in a consumer’s mind?

What do you do better than anyone else?

Performance options: Quality Convenience Selection Service Expertise Value

Performance

P r i

c e A

B

C D

The Marketing Matrix

The basic issue in marketing is creating a category you can be first in. It’s better to be first than it is to be better.

Jack Trout & Al Ries

Basic Needs

Self-Actualization

Answer W.I.F.M.? Basic Necessity Safety Cost-Savings Time-Savings Health/Well-being/Comfort Status ________ ?

What “emotional driver” can you tap into?

Great brands find relevant ways to tap the emotional drivers that already reside deep inside each of us.

Scott Bedbury “A New Brand World”

Persuasive, memorable messages (A.I.D.A. Communication formula): Engage your customer (get their ATTENTION) … Tell them what is in it for them (peak their INTEREST) … Tell them what it will do for them (build a DESIRE) … State what you want them to do (call them to ACTION) … Re-state benefits of your business (your positioning statement) … Make your name stick (name association) … Simplify … less is more

What can you say to convince them to do business with you?

A brand for a company is like a reputation for a person. You earn your reputation by doing the hard things well.

Jeff Bezos, Amazon.com

What is the most effective method to deliver your Message?1. Reach the right people 2. With the right message3. In the right environment 4. The right number of times 5. As cost-efficiently as possible

The 4 methods of Promotion …Advertising…Promotional Marketing…Public Relations …Direct

Marketing

What is your Marketing Budget? … (1-20% of potential gross sales … depending on your goals, your market and your margins)

The 24 Tactics 1. Website (e-commerce) 2. S.E.O. (maximize keywords)3. TV (use sponsorships) 4. Newspaper (scatter ads)5. Radio (voice your own ad) 6. Magazine (inserts)7. Ad mail/flyers (send invitations) 8. Database mktg. (send e-newsletter)9. Online ads (Google adwords) 10. Web links (build business connections)11. O.O.H./billboards (:03 impact) 12. Directory advertising (free offer)13. In-store/P.O.S. (unique location) 14. Salespeople (do research)15. Consumer/Trade shows (character) 16. Sale event/promotion (open house)17. Sampling (cheerleaders) 18. Community (sponsor team)19. PR (newsworthy media release) 20. Editorial/Blog/Facebook/(id trends)21. Networking (join something) 22. Referrals (offer rewards)23. Advocates (develop advisors) 24. Internal mktg. (empower your staff)

Always dominate a medium. The key to media dominance is relentless repetition.

“The Wizard of Ads”

Next Steps:

Marketing Planning

Marketing Research

Marketing Calendar

Marketing Management & Controls

Marketing Action Steps

Marketing Systems

There is only one boss. The customer. And he can fire everybody in the company from the chairman down, simply by spending his money somewhere else.

Sam Walton

MARKETING – strategic planning

What have you identified that affects your Marketing Strategy?

___________________________________ ___________________________________ ___________________________________

Write the basics of your strategy (in less than 3 sentences):(ie: In the next year we want to increase sales by 10% by increasing new

customers by 10%. We will do this by consistently communicating to our new customer target market the benefits we offer them through our new positioning as the market leader in product selection).

MARKETING - planning

After developing the basics of your Marketing Strategy, consider the following:

Marketing Research – What else do we need to know?

Marketing Communication – What else will we need to say?

Marketing Tactics – What can we do best?

Marketing Calendar – When can we do it?

Marketing Action Steps – How do we start?

Marketing Metrics – How will we know when it is working?

MARKETING - research How do you know you have the right strategy?First, develop your research plan:

Define the problem or the info you require Develop a plan; include sources, methodology, questionairre design, and

review criteria Implement the Plan Review findings and revise Marketing Strategy accordingly

Sources: Internal: employees, management, Customers: existing, former, potential Existing Research: Statscan, internet, suppliers Surveys: Ipsos-omnibus, customized

MARKETING - communicationDeveloping your Power Words and Images:

What words and phrases motivate your best customer? What images motivate your best customer? What is your competition communicating? How can you communicate more effectively than them? What type of communication may turn-off your best customers? Is the message setting realistic expectations for your customer? Use experts communicators in specific media Simplify …

The more information you put into a message, the less people take out.

Michael Newman

Tactic 4

Jan Feb Mar Apr May Jun July Sep Oct Nov Dec

Tactic 2

Tactic 1

Tactic 3

Tactic 1

Review

MARKETING – action plan

Develop your goals, your strategy and then your tactics … then take action.

Who will do it? … assign responsibility How will it be done? … list tools When will it be done? … set dates When will it be reviewed? … monthly, quarterly? How will we know when it is working? … measure How will we celebrate achievement?!?

MARKETING METRICS – and management

Continual Measurement

Evaluate Performance

Take Corrective Action

SeekInnovation

Marketing Management

People who are exceptionally good at business aren’t so because of what they know but because of their insatiable need to know more.

Michael Gerber, The E Myth

Every company is a Marketing Company.

Every employee is in Marketing.

MARKETING - Resources Marketing–An Introduction – Armstrong, Kotler, Cunningham www.sethgodin.com – Seth Godin Positioning – Trout & Ries (or The 22 Immutable Laws of Marketing,

or Marketing Warfare, or Focus or any book by Jack Trout or Al Ries; www.troutandpartners.com )

Good to Great – Collins ( www.jimcollins.com ) The E Myth – Michael Gerber ( www.e-myth.com ) A New Brand World – Bedbury ( www.brandstream.com ) Creative Leaps – Michael Newman Made to Stick – Chip Heath www.wizardofads.com – Roy Williams …& Anthony Marketing Systems – bruce@anthonymarketing.ca