small business marketing 101 in 2014 - foundational elements
TRANSCRIPT
MARKETING WEBINAR SERIES GETTING IT RIGHT IN 2014 & BEYOND
Discovery - Understanding the Planning that goes into Effectively Marketing Your Business
Joe DeMicco
http://www.linkedin.com/in/joedemicco
https://twitter.com/demicco
Cohort IV (February 2012)
HOUSEKEEPING
• Varied Group at Various Stages of Marketing
• Feel Free to Ask Questions via Online Pane as Desired
• This Initial Webinar Touches on a Variety of Elements that Work Together as a Baseline in Effective Marketing
• Due to it’s Nature - Non Linear Pattern to this Webinar
• Goal is to achieve a high level understanding of Concepts and Open a Path to Self Evaluation and Next Steps Planning
CONGRATULATIONS!
WHAT IS MARKETING?
• The action or business of promoting and selling products or services (Merriam-Webster)
• Marketing is the activity, and processes for creating, communicating, delivering and exchanging offerings that have a value for customers, clients, partners, and society at large (AMA)
• Marketing is the process of communicating the value of a product or service to customers, for selling that product or service (Wikipedia)
KEY PHRASES
Promote
Process
Communicate
Customers
Sell
Value
WHY MARKET YOUR BUSINESS
Increase Sales
Increase Awareness
Build Trust
Gain Intelligence /
Metrics
Moral
Visual / Memorable Market Share
Build Brand
Discover What Works
WHAT DO YOU NEED
The right resources
Money (or time)
Competitive and Buyer Intelligence
A well thought out and actionable plan
That’s how the “pros” look at it
“Only for the “Big Boys””
“Complicated”“Don’t Know Where to Start”
“Doesn’t Work”“Can’t afford it”
“Don’t Understand It”
Marketing = $$$MOST…
THE FACT… It DOES
But like anything in business…
Nothing is Guaranteed
Needs the right mix of talent, value and
management
Needs to appeal to the right audience
Needs goals to be quantified
INTELLIGENT RISK TAKING - EVERYDAY
Product / Service Development
Employee Benefits
Buy / Lease Equipment
Employees
Loans / L.O.C.
Rental Agreements
Opportunity Cost
RISK
Reward must outweigh
ROI
ROMI
INTELLIGENT RISK TAKING MarketingPer Initiative / Campaign
Return on Marketing Investment
Marketing Spend ($)
Gross Profit (%)
Incremental Revenue &
Value Attributable
from Marketing
($)
Short Term ROMI Example
* - Marketing Spend ($)/
SIMPLE EXAMPLE
$50,000 in PPC
$500,000 Revenue / Value Tied
to PPC Marketing
=2$150,000 in GP based on 30% Margin
* -$50,000 in PPC /
For Ever $1 spent in PPC the Company Bottom Line receives $2
SUCCESS = TRACKING & QUANTIFYING
Good News : Attribution Modeling Works
Bad News : Attribution Modeling Takes Work
Old News : If Something is Worth Doing, It’s Worth Doing Right
ATTRIBUTION MODELING
Conversion or Behavior Tracking Tied to Specific Marketing Actions
URL Tagging
CLIENT RELATIONSHIP MANAGEMENT
TOP OF THE FUNNEL !Attract visitors to your site through blogging, Google searches, social media, etc. !Offer valuable content such as whitepapers, ebooks, checklists, etc. in exchange for their contact info. !Use creative call-to action graphics that link landing pages to increase conversions.
BOTTOM OF THE FUNNEL !Offer to leads as part of your lead nurturing sequence of emails, middle of the funnel landing pages and by direct outreach from your sales team. !This content is more a direct approach aimed at qualified leads - and can include free consultations and assessments, special discounts or promotions, live demonstrations, free trials, etc.
MIDDLE OF THE FUNNEL !Offer to leads who have already downloaded your top of the funnel content to move them closer to becoming a customer. !This content centers around why they should choose you - and can include case studies, testimonials, webinars, live demos, free trials, etc.
YOUR BRANDYour Message
ONLINE/OFFLINE PRESENCE
WEBSITE
BUYER PERSONA
CONVERSION PATHS
MESSAGE
CORE
YOUR BRAND
MARKETING INITIATIVES
What is your company’s mission?
What are the benefits & features of your products /
services?
What do your customers & prospects already think of your company?
What qualities do you want them to associate with your company?
WHO ARE YOUR BUYERS?Develop Your Buyer Personas
Competitive Landscape
Think about your modules…
Current Competitors
Aspirational Competitors
Who Do They Target?
Where Are They Visible?
What Are Their Methods & Materials?
What is Their Messaging?
ID On and Offline Competition
Your Unique Sales Proposition
Stand Out From The Crowd
WALK YOUR TALK
Putting It All Together
YOUR BEST FRIENDS - USE THEM
Calculated Risk Quantification of Efforts
Core Brand & Message KNOW Buyer
Competition What Sets You Apart
Tracking Leads & CRM
Planning Your Marketing
Primary Objective
Primary Objective
Strategic Initiative
Strategic Initiative
Strategic Initiative
Tactic 1
Tactic 1
Tactic 1
Tactic 2Tactic 3
Tactic 2Tactic 3
Tactic 2Tactic 3
Revisit Your Growth Plan
Map On Paper / Whiteboard
THANK YOUQ&A