2020-01 marketing to grow your business - final · marketing to grow your business presented by: ed...

1

Marketing to Grow Your BusinessPresented By: Ed Shanahan & Ellen BrotmanJanuary 2020

2

With SCORE, You Are Not Alone on Your Journey

For over 50 years, SCORE has served as America’s premier source of free business mentoring and education.

As a resource partner of the U.S. Small Business Administration (SBA), SCORE has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964.

3

SCORE Can Help You Find the Way Ahead

• Free one-on-one business counseling and mentoring

• Business advisory services

• Low cost local workshops

• Free templates and recorded webinars

To meet with a mentor or learn more about SCORE’s resources, visit washingtondc.score.org

4

9:30 Welcome & Introductions

9:45 Foundational Marketing(includes a short break half way through)

11:45 Lunch/Informal Q&A

12:30 Marketing Driven Sales(short break)

2:20 Business Promotion

4:20 Evaluations and Adjourn

Today's Agenda

4Note, session start times are general guidelines and may change

5

Small Business Success

• Identify a narrow and “rich” niche of Ideal Customers

• Define a Value Proposition that differentiates your offerings, one that will play well to your Ideal Customers

• Define a Promotion and Sales Strategy based on this value proposition, targeting your Ideal customers

• Define tactical promotion, sales and service steps based on #3 and execute these within a repeatable and sustainable “system”.

5

6

Business Promotion Marketing Driven Sales

•Who is your Ideal Customer?

• Is your Value Proposition well defined, compelling & targeted at your Ideal Customers?

• What Channels are the most effective? What Messages?

• Are you attracting your Ideal Customers? Are you making it easy for them to advance through the sales pipeline?

Each step builds on the prior step

•What are you doing to improve your close rate?

•What are you doing to increase repeat business and referrals?

•How are you dealing with objections?

Foundational Marketing

Class Roadmap

7

Foundational MarketingPresented By: Ed Shanahan

8

• Who is your Ideal Customer?• Is your Value Proposition well defined, compelling &

targeted at your Ideal Customers?• Does your marketing infrastructure (web site, SEO, content,

communication, etc.) add value to your Ideal Customer and make it easy for them to learn about and interact with you?

Establishing the Marketing Foundation

8

9

Your Ideal Customers

9

• Become Repeat Customers

• Grow Loyal to your business

• Refer your business to others

• Are low maintenance

• Upgrade to Higher Margin Offerings

10

• Break into small groups

• Think about your current customers and about what it would take to make them Ideal Customers.

• Each group member will share their item with their small group (max 5 min./person)

15 minutes

Breakout: Know your Ideal Customers

10

11

Target your Value Proposition to your Ideal Customers

• Focused on what your Ideal Customers Value

• Plays to your strengths

• Differentiates you from your competition

• Creates an emotional attachment

• Ideally is difficult for your competition to duplicate

11Do you have a compelling Value Proposition?

12

• Break into small groups• Take turns stating your Value Proposition Statement to members of

your group. (no more than 5 min./person). • Group members offer critical suggestions to make the speaker’s

Value Proposition more impactful. • Things to consider when you are listening:

• Did you “get” the value that the speaker was trying to convey? Was it short, powerful and to the point?

• What did you like/dislike?• What improvements would you recommend?

15 minutes

Breakout: Value Proposition

12

13

GET LUNCH AND BRING IT BACK(30 Minutes)

14

• “Do one thing every day that scares you” – Eleanor Roosevelt• “We are what we repeatedly do. Excellence then is not an act, but a habit” -

Aristotle • “Experience is a hard teacher, because she gives the test first, the lesson

after” –Vernon Law• “Your most unhappy customers are your greatest source of learning” – Bill

Gates• “You often meet your fate on the road you take to avoid it” – French

proverb• “What we fear most is usually what we most need to do” – Tim Ferriss

Quotes to Think About

15

Marketing Driven SalesPresented By: Ellen Brotman

15

16

What is your greatest sales challenge?

Product Business? Service Business?

Pop Quiz

17

How to Close the Deal?

17

Get prospects who have a need, to know, like and trust you so they will try, buy, repeat and refer

Drives every interaction with prospects and customers

(1) “Duct Tape Marketing” – John Jantsch

18

Sales Growth Requires Planning!

• Do you have a sales plan?

• Do you have a process for contacting and tracking leads?

• What are you doing to improve your close rate?

• What are you doing to increase repeat business and referrals?

• How are you dealing with objections?

18

19

• Break into small groups

• Select one item from the prior slide where you need help. If your “hot” item is not on this list pick your hot item

• Each group member will share their item with their small group (max 5 min./person)

15 minutes

Breakout: Your Sales Priority

19

20

Sales Statistics

48% NEVERfollow up with a lead/ prospect

BasedonB2BSurveySalesLeads

21

• Break into groups of two with one person playing the Seller and the other the Buyer

• Seller and Buyer met at a barbeque. Seller and Buyer exchange contact information and Seller agreed to reach out to the Buyer in a few days time.

• Sellers, sell your REAL offering to the buyer. Buyer, feel free to introduce any objections you wish.

• Reverse Roles

Breakout: Making the Sale

21

Total time = 3 minutes each role

What worked? What did not?

22

1. Listen with intent. Without this there is nothing.

2. People buy from people they Know, Like and Trust.

3. People need to feel that they are in control and are not being coerced.

4. You need to make the people comfortable that they have choices

5. You need to be adept at dealing with objections.

Closing the Sale – What Works!

22

23

Keeping Top of Mind – Touches are Key!

• I sent out LARGE postcards in spring and fall. Timing was critical!

• Sent to prior and current customers and vendors only. Not to prospects.

• Personalized, hand written notes. Very soft reminder

23

24

• Handwritten thank you cards with colored envelopes:

• “Dear XX, Thank you for referring YY to Me. Your Expression of confidence is greatly appreciated! Hope you have a wonderful summer, Regards, Ellen

• Stay in touch notes that reflect that you have listened – can include things of interest to the client/prospect (i.e. a chandelier they may like)

• Notes to Strategic Partners

• Thanksgiving Cards (Thanksgiving???)

The Personal Touch – Do What Others Don’t Do!

25

Dealing with Objections – The Price Objection

• Hope it comes up; otherwise you’ve underpriced your product.

• Always talk quality – create value.

• Talk about the difference YOU bring to the table. This is critical!

• Refer to investments, not costs.

• Yes you can always get it cheaper, but not better!

25

26

Dealing with Objections–Other Common Objections

• Timing

• Client is not “sold” on you or your offering

• Competition

• Others?

26

27

• Agreeing to something that is not in your skillset

• Accepting “unacceptable” clients

• Cutting Price once you have stated it

• Selling below your minimally acceptable gross margin

• Over promising and under delivering

What Mistakes have you made?

Making Mistakes

27

28

BREAK(5 Minutes)

29

Business Promotion (aka “Marketing”)Presented By: Ed Shanahan

29

30

What is your greatest promotional challenge?

Product Business? Service Business?

Pop Quiz

31

Business Promotion Requires Planning!

• Do you have a promotion plan?

• Do you have a process for scheduling and tracking promotions?

• What are you doing to improve your success rate?

• What are you doing to increase repeat business and referrals?

31

32

Promoting Your Business

Begins with asking the following questions:

• Who is your one highest priority targeted audience to interact with today?

• What, realistically, do you want them to do (Desired Result)?

• What Message do you need to convey to get your Desired Result?

• What is the most Effective Channel to use to send this message?

33

What are you doing Today?

34

Example: B2B Service

Targeted Audience

Key Contacts in DC Area prime contractors who are bidding on Department of the Army contracts in the IT Security Consulting space and lack depth of expertise and/or staff.

Have narrowed this to Key Contacts within 10 Ideal Customers, none of whom you know.

Desired Result ????

Message ????

Channels ????

Your company is a new small IT Security Consulting firm that wishes to break into the DoD market.

You have identified your highest priority Targeted Audience

35


Targeted Audience Key Contacts in DC Area prime contractors who are bidding on Department of the Army contracts in the IT Security Consulting space and lack depth of expertise and/or bodies. Have narrowed this to Key Contacts within 10 Ideal Customers, none of whom you know.

Desired Result

Gain introductions and set up face to face meetings and begin to establish a relationship with the Key Contacts. Gain introductions to their teams. Get added to their list of preferred sub-contractors.

Message ???

Channels ???


You have identified your Desired Result

36


Targeted Audience Key contacts in DC Area prime contractors who are bidding on Department of the Army contracts in the IT Security Consulting space and lack depth of expertise and/or bodies. Have narrowed this to Key Contacts within 10 Ideal Customers.

Desired Result Network to gain introductions (warm call) to these Key Contacts. Set up face to face meetings and begin to establish relationships. Gain introductions to their teams. Get added to their list of preferred sub-contractors.

Message Subtle, but: We know our stuff, we can help you win business, we can help you deliver results, we can help you look like a rock star

Channels ???


You have identified what your Message needs to convey

37


Highest Priority Key contacts in DC Area prime contractors who are bidding on Department of the Army contracts in the IT Security Consulting space and lack depth of expertise and/or bodies. Have narrowed this to Key Contacts within 10 Ideal Customers. Cold Calls.

Desired Result Gain introductions and set up face to face meetings and begin to establish a relationship with the Key Contacts. Gain introductions to their teams. Get added to their list of preferred sub-contractors.

Message Subtle, but: We know our stuff, we can help you win business, we can help you deliver results, we can help you look like a rock star

Channels Networking to gain warm introductions (vs cold calling) using current contacts and LinkedIn intros. Expect that it will take multiple interactions and time before gaining introduction to Key Contacts. It may take months to complete this promotion with the first prospect.


You have identified the best Channel to use to convey this message

38

Example: B2C Product

Highest Priority DC Area Tech executives in their 50s who wish to move up the ladder but are concerned that they may be considered “old”. They may have a professional headshot, but don’t like it or the image it portrays.

Desired Result A promotion that will close at least 10 new customers within 30 days of launch

Message You are not old. Your experience and vitality are your strengths. Together we will improve your brand and marketability. We have a limited time offer. Those selected will receive a free headshot session and the opportunity (but not the obligation) to buy as many images as desired.

Channels Facebook and Linkedin postings and ads. Include “before” and “after” photos. Limit initial advertisement expenditures on both channels to $200, then evaluate results, and adjust promotions accordingly

The Company New Headshot Photographer who has no contacts or leads. He/she is targeting “older” clients who are willing to spend money to remain marketable. Product is professionally posed, lit, edited and retouched files optimized for web use.

39

Breakout: Promoting Your Business

Highest Priority Who is your Highest Priority Audience for your next promotion?

Desired Result • What is your Desired Result for this promotion?• Desired results often include a Call to Action (CTA)

Message • What Message do you wish to convey in this promotion?• Effective Messages always evoke an emotional response

Channels • What Channel will you use to deliver this message?• If you pick more than one, what will you need to do to tune the content for each

channel?

Your Company

• Develop a promotion for your business. (5 minutes)• Break into small groups to discuss and critique (15 minutes)• Pick one “case study” and present it to the class

40

What can you do to promote Repeat Business and Referrals?

40

Early stage & businesses without “stickiness” mostly play here

ColdWarm Referrals

Repeat

Successful established & mature businesses mostly play

here

What Can you do Today to help shift your business to the Right?

41

Questions/Comments?

42

Workshop Evaluation

42

43

Appendix

44

Where to Start in Promoting your Business?

Step 1Who is your Highest Priority Audience for your next promotion?

* Always fits the profile of your Ideal Customer

45


Step 2• What is your Desired Result

for this promotion?• Desired results often include

a Call to Action (CTA)

46


Step 3• What Message do you wish

to convey in this promotion?• Effective Messages always

evoke an emotional response

Your message should play to your strengths and resonate with your Ideal Customers

47


Step 4• What Channel will you use

to deliver this message?• If you pick more than one,

what will you need to do to tune the content for each channel?

48

Shift to the Right

Anyone can shift their marketing efforts “to the right” with an intentional strategy, thoughtfully executed over time

Cold

Startup Stage

Established

Mature

Warm Referrals Repeat

80%+ 20% 0% 0%

30% 40% 20% 10%

5% 10% 65% 20%

Percentages are provided for illustration. Realistic targets

will vary by market and channel

49

Social Media Promotion

50

Your Social Media Promotion

User Driven Social Networks

• Is it focused on your Ideal Customer?

• Does your Value Proposition come through?

• Does it include testimonials?

• Do your Social Media actions drive prospects to your website?

• Does your site have free and valuable content which the viewer can download?

• Does it have calls to action?

• How are you tracking & measuring access and engagement?

• What can you do to be more effective in driving sales?

• Do you have a Social Media Promotion plan?

• Is it focused on your Ideal Customer?

• Are you using the platforms that your Ideal Customers use?

• Are you driving customers to landing pages on your website and are you providing free and valuable information which they can download?

• How are you trialing actions?

• How are you measuring success?

• How are you comparing organic and paid impact?

• How are you assessing whether paid actions make success?

• Also known as Inbound Social Networks

• Includes Yelp, Angie’s List, Trip Advisor, The Knot, Open Table, Thumbtack and many more

• Your Ideal Customers may use these to compare and share thoughts on potential vendors, independent of your actions

• Important to identify the platforms your Ideal Customers use when researching offerings such as yours

• Important to stay on top of reviews and comments

• Can be a great source of customers with effective paid advertising

Your Website (and emails)

Own Your Online Presence

51

A Basic Approach to Leveraging Social Media

1. Audit your and your successful competitions’ Social Presence

2. Identify which platform(s) you and your competitors use

3. Validate that these are platforms your Ideal Customer uses

4. Identify Key Success Metrics5. Identify & Court Key Influencers6. Create and Curate Engaging Content7. Invest in a Social Media Management Tool8. Drive Traffic SEO9. Track, Analyze, Optimize

51Adapted from Duct Tape Marketing and Wishpond, then expanded

52

1. Audit Social Presence

• Which platforms are you and your competition actively using to attract your Ideal Clients?

• Are your platforms optimized (photo and cover images, bio, URL, etc.)?

• Which platforms are currently bringing you and your competitors the most value?

• How do your profiles compare with your competitors’ profiles?

52Source: http://www.pewinternet.org/2018/03/01/social-media-use-in-2018/

53

2. What are you and your Competition Doing?

Take a Deep Dive1. Which platforms are they using and

how? 2. Which platforms seem to be most

important to them?3. What are they posting & how often?4. Are they getting engagement?5. What is their apparent strategy?6. Are they positively impacting Know,

Like and/or Trust and ultimately sales?

53

54

3. What Platform(s) is your Ideal Customer Using?

54

How can you Identify which platform(s) they are using?

55

4. Identify Key Success Metrics

1. Follow Growth and drivers - did you do something to generate the growth?

2. Identify Optimal Times & Days for Posting & Engagement

3. Track Likes, Reactions and Engagement on Posts

4. Monitor Mentions (usually tags by others)

5. Delve into respondents demographics. Are you attracting your Ideal Customers? 55

Source: Social Media Examiner: http://www.socialmediaexaminer.com/10-metrics-to-track-for-social-media-success/

chart courtesy Adobe

56

4. Identify Key Success Metrics

6. Determine reach (expanded by Shares) and identify what causes people to Share. If organic, this is free promotion. If Paid was it worth it?

7. Reviews replies and comments – be highly responsive!

8. Determine what content is being shared. And why. This will help you shape future content

9. Track website referral traffic from Social Media

10. Examine Click Rateschart courtesy Adobe

57

Courting key influencers is THE greatest leverage point for all ALL types of promotion – not just social media!• Increases your brand awareness, content engagement, legitimacy and trust (i.e. Know, Like,

Trust)• Significantly extends your reach, growth & engagement• Attracts other Key Influencers to share and comment on your content, accelerating this

virtuous cycle!

What to do (on social media)• Search the hashtags your targeted influencers are using and incorporate then in your content if

appropriate• Use tools such as Buzzumo, Traackr to help find, filter & manage• Select 1-2 who fit with your brand, have reach and share others’ content• Do a blog trade, comment insightfully on their content and share

5. Identify & Court Key Influencers

Adapted from Wishpond, then expanded

58

• Create or share content tuned to each platform

• Concise video has more impact than photos and photos have more impact than stand alone text

• Prepare to interact – be social! Jab, Jab, Jab Right Hook

6. Create & Curate Great Content

See Bonfire Marketing for similar charts on the most popular platforms

59

7. Invest in a Social Media Management Tool – As Your Needs Grow

https://www.forbes.com/sites/forbesagencycouncil/2017/05/15/15-social-media-management-tools-that-can-help-your-business-thrive/#28e923752b13

HootSuite IFTTT SocialFlowHubspot Buffer IconsquareMeetEdgar Sprout Social SprinklrTweetDeck A Content Calendar KnowEmRaven Google Analytics Humans

Some common tools

60

• Follow steps 1-7

• Organize your high quality and relevant content into a theme related “ecosystem”

• Optimize web site for key words & use Facebook Pixel (see next slide)

• Push content to your email list

• Consider targeted paid advertising to augment organic reach

8. Drive Traffic & SEO

61

8. Facebook Pixel

Facebook Pixel is a piece of code that you install on your website that lets you measure, optimize and build audiences for your ad campaigns.

62

• Decide what is important for you to track

• Keep it simple initially and begin tracking using tools provided by the social media sites

• Constantly trial different content, content presentation and associated media (photos, video, etc)

• Upgrade over time to a social media management tool such as in #7

9. Track, Analyze, Optimize

63

• Platforms add features all the time – read social media news to stay current

• Establish accounts where you MAY want to be even if you do not plan to be active today

• Say something of value or say nothing

• Diversify content for each channel

Final Thoughts

63

2020-01 marketing to grow your business - final · marketing to grow your business presented by: ed...

Documents