end of advertising
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TheTheEnd of Advertising End of Advertising
as you know it.as you know it.
Today’s Advertising Mix
Do you have an advertising Do you have an advertising Budget?Budget?
Do you:•Randomly buy local print ads•Buy High School Yearbook ads without thinking of your message•Automatically renew your yellow page ad•Advertise the same way you have for the past 10 years
Do you have an advertising Do you have an advertising Budget?Budget?
Do you:•Randomly buy local print ads•Buy High School Yearbook ads without thinking of your message•Automatically renew your yellow page ad•Advertise the same way you have for the past 10 years•Not Advertise!
I do not advertise…I do not advertise…• Too expensive• Does not work• Waste of time• Business is growing, I don’t need to advertise• Business sucks, I cannot afford to advertise
Rule #1
If you don’t keep giving customers a reason to
buy from you they won’t!
Rule #1
If you don’t keep giving customers a reason to
buy from you they won’t!
Remember there is someone out there
telling your customer constantly to buy
from them!
What is Advertising?What is Advertising?
• Advertising has become more than a radio spot
What is Advertising?What is Advertising?
• Advertising has become more than a radio spot
• More than an ad in a magazine, newspaper, weekly publication or flyer
What is Advertising?What is Advertising?
• Advertising has become more than a radio spot
• More than an ad in a magazine, newspaper, weekly publication or flyer
• More than your last direct mail piece or targeted email
What is Advertising?What is Advertising?
• Advertising has become more than a radio spot
• More than an ad in a magazine, newspaper, weekly publication or flyer
• More than your last direct mail piece or targeted email
• Advertising is a comprehensive viral package that allows us to sell more stuff more often to more people for more money!
Advertising CampaignAdvertising Campaign Setup Setup
First lets change the term Advertising to Marketing!
Advertising CampaignAdvertising Campaign Setup Setup
First lets change the term Advertising to Marketing!
Marketing is more inclusive of all elements and it is a disciplined marketing campaign
that will make advertising effective
Advertising CampaignAdvertising Campaign Setup Setup
First lets change the term Advertising to Marketing!
Marketing is more inclusive of all elements and it is a disciplined marketing campaign
that will make advertising effective
There are TEN STEPS to setting up a disciplined market campaign
10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Company ScopeStrength & WeaknessMarketing Capabilities
Product & MarketCategories ::Pricing :: Competition :: Distribution
Company ScopeStrength & WeaknessMarketing Capabilities
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 9
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Come from the Business Review. Create a Summary of Points good and bad from Step1. This will be the foundation for the marketing plan.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Setting Sales objective is critical! It is the basis fro the whole marketing plan. It will be the basis for deciding your budget, marketing, staffing and inventory needs.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Establish & define who your target market really is. Surfers, skaters, tourist, mom’sdad’s, male or female.Establish what you want your advertising to achieve. Set a goal for each segment so you can measure its success.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Brand Positioning is how you want your store and products to be perceived by yourtarget markets. Are you a hard goods store? Women’s, Skate, or Discounter(I mean cheapest)? Your brand strategy should influence the direction of all your advertising. By establishing a brand strategy evaluation will be easier at years end.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Communication goals simply bridge the gap between your objectives and your marketing mix. Simple charting will allow you to track effectiveness of marketing tools and objectives. See HANDOUT.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
This is the tactical element of our plan. Each element used should have its ownobjectives and strategies. By establishing these objectives and strategies we will be able to judge there effectiveness. Elements include media, events, price, merchandising, product and message.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
Budget methods may include the Task Method, the Percentage of Sales Model or theCompetitive Method. With a budget in place create a detailed yearly calendar. Establish a means of judging the effectiveness of your advertising campaign, two popular methods are Contribution to Fixed Coast and Gross Margin to Net Sales Analysis
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10
With a plan in place execution is essential. A yearly calendar will give you the ability to have all marketing materials in a timely fashion. Prevent the “last minute scenario.
10 Steps to Market Planning10 Steps to Market PlanningStep 1 Business Review
Step 2 Problems & Opportunities
Step 5 Plan Branding and Marketing Strategies *
Step 4 Target Market & Sales Objectives
Step 3 Set Overall Sales Objectives
Step 6
Step 9
Step 7
Step 8
Communication Goals
Establish Marketing Mix
Calendar, Budget, Payback and Analysis
Execute
EvaluateStep 10Like analysis in Step 8. Always evaluate the success of the marketing plan. It is importto judge not only the full plan but its specific elements as well.
Task Method – Set budget based on what needs to be accomplished! To reach the total operating cost you must establish a cost for each marketing tool and times it will be implemented throughout the year.
How Much to Budget?How Much to Budget?
Task Method – Set budget based on what needs to be accomplished! To reach the total operating cost you must establish a cost for each marketing tool and times it will be implemented throughout the year.
Percentage of Sales Method – Traditionally 4 -5% of Gross Sales. This will help keep the number you came up with in the task method in check.
How Much to Budget?How Much to Budget?
Task Method – Set budget based on what needs to be accomplished! To reach the total operating cost you must establish a cost for each marketing tool and times it will be implemented throughout the year.
Percentage of Sales Method – Traditionally 4 -5% of Gross Sales. This will help keep the number you came up with in the task method in check.
Competitive Method – Set your marketing plan based on competition’s marketing mix. While hard to estimate competitors marketing budget. This method protects market share.
How Much to Budget?How Much to Budget?
Advertising for specialty retailers continues
to change and the classic 4 P’s of Marketing:
1. Product
2. Price
3. Place
4. Promotion
Make Marketing ROI a Make Marketing ROI a Reality: Focus on the 4 A'sReality: Focus on the 4 A's
Advertising for specialty retailers continues
to change and the classic 4 P’s of Marketing:
1. Product
2. Price
3. Place
4. Promotion
May now be replaced with the 4 A’s
1. Accountability
2. Analysis
3. Accuracy
4. Action
Make Marketing ROI a Make Marketing ROI a Reality: Focus on the 4 A'sReality: Focus on the 4 A's
“In good times people want to advertise:
in bad times people have to.”Bruce Barton CEO BBDO
Do not fall to the myth that Advertising doesn’t work to sell products.
“In good times people want to advertise:
in bad times people have to.”Bruce Barton CEO BBDO
Do not fall to the myth that Advertising doesn’t work to sell products.
Remember that poorly planned advertising doesn’t work. We all make mistakes, even in advertising, by establishing, tracking and evaluating your marketing plan you will be able to growth your business and get a handle on what types of advertising are helping to make your business grow!
Stop missing opportunities to Sell More!
This year get a return on every penny you spend!
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