tips for frugal marketing
TRANSCRIPT
Frugal MarketingWhy > What >How>
1
When is frugal marketing required?
Upstart brands take on brands that are larger, more established than themselves
1. New business model challengers
2. Old model, new market challengers
high
high
low
low
Rel
ativ
e M
arke
tsha
re
Relative Growth Rate
Laggards
Mature Champions
Challengers
New Money Marketing, Jessie Paul, McGraw-Hill Education
Core vs Surround
Input Elements
Core Service Attributes
Output Impact
People
Elements that are directly related to service performance
Service Delivery Process
Delivery Facilities
PriceCountry of origin
Executive Management
Vision
Corporate Governance
Environment
Community
Investor Returns
Business Benefits
Industry Development
Sur
roun
d Surround
Core
Quality
New Money Marketing, Jessie Paul, McGraw-Hill Education
Flat World Trends
Digitization, globalization: People are buying things they cannot see!
1.The world is connected electronically: Everyone is a
journalist, opinion-maker, and salesperson!2.3.
The market is very small: You have a target audience of one4.
Advertising is free: But getting it is hard work
New Money Marketing, Jessie Paul, McGraw-Hill Education
IndividualsInterconnected
Marketing changes in the Flat World
Location-specificLocation-independent
Customers
Access controlledEasily accessible
At costFreeInformation
One way2-way, interactive
LagInstantaneous
Opt outOpt-in
At costFreeCommunication Old WorldFlat World
New Money Marketing, Jessie Paul, McGraw-Hill Education
• Executive Branding
• Pricing
• Country of Origin
• Sustainability
Levers Channels• Thought Leadership
• Public Relations
• Awards
• Online Presence+
Useful levers and tools for smart branding
New Money Marketing, Jessie Paul, McGraw-Hill Education
5 Frugal Tips
Create Your OwnMarketing Channels
Insights vs Information Go OnlineOwn the
Eco-system
Define your
Audience Narrowly
1 2 3 4 5
Confidential © Copyright 2007 Wipro Ltd
Define your
Audience Narrowly
Industry Associations
Analysts
Consumer Reports
Consulting Firms
Sourcing Advisors
Other Customers
Journalists
Expert Users
Government
Academics Internet Pundits
Friends & Family
Employees
SalespersonDecision Maker
Own the Eco-
system
New Money Marketing, Jessie Paul, McGraw-Hill Education
Confidential © Copyright 2007 Wipro Ltd
Create Your OwnMarketing Channels
Confidential © Copyright 2007 Wipro Ltd
First global award for innovation in sourcing. Blue-chip partners: ITAA, IAOP, Forbes.150+ nominations, 12
Winners announced at gala event in NY
Insights vs Information
Confidential © Copyright 2007 Wipro Ltd
Go Online
MyBo
YouTube
MySpace
Barack Obama
478,028 “friends” and 88,009 comments.
500+ connections
1,465,128 “supporters”, 340,142 comments or wall posts
68,836 “followers”
181 updates
900,000+ supporters
Acts as a hub for his other online media presence
1185 videos
76,095 subscribers
15,603,285 million channel views
New Money Marketing, Jessie Paul, McGraw-Hill Education