low budget marketing strategies
DESCRIPTION
Low Budget Marketing Strategies. Prasenjit Roy Director Marketing Tech Mahindra. End Customer. Broad Structure. Americas. Br. a. nd. En. a. bl. e. m. e. nt. B. u. s. in. es. s. En. a. bl. em. e. nt. Digital. M. arketing. Anal. y. st. /. Ad. v. isor. y. /. - PowerPoint PPT PresentationTRANSCRIPT
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Low Budget Marketing Strategies
Prasenjit RoyDirector Marketing
Tech Mahindra
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End Customer
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Brand Enablement Business Enablement
Digital Marketing
Media & PR
Branding Services
Analyst / Advisory / Alliances
Direct Marketing /Inside Sales
Customer Intimacy / CRM /Account-based Marketing
Americas
Associate Connect
Broad Structure
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Imperative need of Business…
For an economic reason After spotting an unfulfilled need For a target market With a high energy level With a high customer focus With a clear understanding that the opportunity is not
going to last forever
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Business aspiration..
Either a Least Cost Producer Highest Quality Producer or Specialized Producer
Each of these strategies requires a move towards creating a Differentiated product or service
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Differentiation
Volume Market (Excavators)
Specialized (Machinery Makers)
Stalemated (Steel Makers)
Fragmented (Restaurants)
Few Many
Number of Differentiation Attributes
Act of designing a set of meaningful differences to distinguish your offering from competition
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Develop compelling USP
Identify your competitors and their offeringsIdentify what your product / service does for the
customer and communicate it wellEvery product has to provide some benefit to
customer – tangible or intangible. Identify same for your product
A claim of Differentiation repeatedly Communicated, Delivered and Perceived by the customers
Go all out to own a word in the customer’s mind, stand for something
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Build a Brand
Brand PromiseColour scheme, logo, brand identityUse wherever possible at all customer touch
pointsLive the brand promise /brand experience at
every touch pointDo not overstate benefits of product/services
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Brand Promise Repeatedly communicated the USP gets to be seen as a
Brand Promise The whole organization should be structured to deliver
on the Brand Promise
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Positioning Need not have all superior features in your
product/service Maintain parity and build huge lead in one or two
features over competition Communicate far and wide
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Customer Service Excellent customer service should be the cornerstone If you are starting – make sure you have a big splash /
celebration about the inauguration – prominent figure and publicity
Customer is not “King” …..but “GOD”
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Low Budget Marketing strategies
Drive customer acquisition. That is what gets bread & butter• Use multiple channels to acquire customers. Evaluate channel
cost. Focus on channels with least cost• Use tried & tested methods – brouchers, sms, e-mails, direct
mailers• websites
Generate Referrals. One of the least cost methods Excellent follow up Build Retention programs Build and use customer data effectively for target
marketing – cross selling and up selling
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Low Budget Marketing strategies
Use networking. Use personal contacts, family relations, friend circle, business contacts – can give desired breaks
Use PR. Get close to who writes about your industry. Maintain relationships with such journalists
Launch a website – use it as a traffic puller• Clearly state a call for action• Make it enjoyable, use online customer engagement techniques
Avoid ATL till u reach a critical mass. BTL may be more effective. This however depends on product category
Create and promote contents about industry than product
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Google Rankings
Tech Mahindra continues to be the #1
Result on Google Search, competing with TCS, Wipro,
Infosys, Patni, Accenture and IBM
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Digital Technology – Social Media Interact with Brands – build dialogue Reach out to a wider evolved audience Viral Marketing Use it as sourcing hub Make employees Brand Ambasadors End game is to build a Digital Technology ecosystem with
integration of analytics, social media, mobile, ecommerce…
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Summary - Key Mantras….. Follow SST (Sunder Sasta Tikao) philosophy “Jo Dikhta hai woh hi Bikhta hai” Focus on BTL with emphasis on “Bang for the Buck” Identify Target Audience and create USP Thrust on Lead Generation Monitor your Brand Innovate to Reduce expenses Have PASSION and FIRE IN THE BELLY…..