Strategic Marketing Boot Camp: Session 3

transcript

Strategic MarketingBoot Camp: Session 3

Agenda: 5 Sessionsa. Session 1

a. Marketing Overviewb. Strategic Internal Assessmentc. Strengths and Weaknesses of the SWOT

b. Session 2a. Industry and Competitive Analysisb. Opportunities and Threats for the SWOT

c. Session 3a. Target Market Definitionsb. Buyer Personas

d. Session 4a. Improvement & Innovationsb. Value Propositions & Proof and Evidence of Claimsc. Buying Cycled. Content Framework

e. Session 5a. Tactical Implementation

1. PowerPoint Slide Deck (Session 3)

2. Target Market Analysis Worksheet

3. Customer Pre‐Survey Letter

4. Buyer Persona Worksheet

Documents to Download:Session 3

Let’s Review

“True Marketing is the art of creating genuine customer

value and in its right context is customer/client‐centric.

It is about becoming a ‘value‐producing machine’ through improvements and innovations to meet market

demands and wants.”

Working‐Definition of Marketing

Marketing as a VPM

Engineering

Manufacturing

Quality

Project Managers

Other Department

Customer Service

Marketing is Too Important to be left only to the Marketing Department!

A “Value‐Producing Machine” requires you to make claims to your customers including:

Quality

Performance

Specifications

Guarantees

Delivery

Service

Other USPs

asepco.com/about/guarantee/ (Watson Marlow)

Lifetime Free Replacement Of Any ASEPCO Tank Valve, No Matter Who Breaks It!Sometimes a tank is dropped—sometimes a valve gets hit by a forklift. No matter how a valve is broken, or who’s at fault, we will replace it free! No arguments. No excuses. Just a free replacement valve as fast as we can make it.Top‐quality Product Or It’s Free!If your ASEPCO valve contains a manufacturing defect we will Fix or Replace Your Valve—and We Will Not Bill You!Performance As Promised Or We Pay You!If it is proven that a properly assembled ASEPCO valve is not CIP/SIP in use:

• We’ll buy back our valve for a full refund.• We’ll buy you the replacement valve of your choice.• AND we will pay the cost of replacing it in your ASME tank!Note: We figure this is a safe bet, because we have not had a claim of contamination in our entire history.You can depend on ASEPCO products. And you can depend on US.

Manufacturing Example

“Unless Strategic Marketing issues are dealt with first, it is absolutely impossible to do Tactical Marketing well”

Marketing Insight #3

“Strategy withouttactics is the slowest

route to victory. Tactics without strategy is the noise before defeat”

‐Sun Tzu

1. Strategic Internal Assessment / Core Competencies (SWOT: Strengths & Weaknesses)

2. Industry Analysis (SWOT: Opportunities & Threats)

3. Competitive Analysis (SWOT: Opportunities & Threats)

4. Target Market Definitions

5. Customer Value Surveys

SMB Phase 1: Research & Analysis

Target Market Definitions

• Geography

• Company Types

• Industries that you serve

• Different products that you make

• Different services that you offer

• Job Title

• Demographics

• B2B, B2C or B2B2C

• Account‐Based Marketing (ABM)

These become highly important as you structure your marketing programs, especially since digital marketing is all about “relevance” and “ROI”.

SMB Phase 1: Target Market Definitions

Think about profitability of each

Think about segmentation

From “The Big Picture”

Account‐Based Marketing (ABM)

• A personalized marketing approach – this aligns with segmentation and instead of a generic approach, messages are created that apply to a specific account

• Sales & Marketing alignment – often times in organizations sales and marketing are not necessarily aligned, but ABM requires a partnership of sorts between the 2 in order to be effective

• Shorter sales cycles – since you already have credibility with an account, you eliminate going through the approval process with multiple decision‐makers and therefore can shorten the cycle

• Fewer wasted resources – by focusing on a small number of accounts that are most likely to convert, resources are freed up that would have been previously wasted with the generic approach

Account‐Based Marketing (ABM) Benefits

• Webinars

• Direct Mail

• Email Campaigns

• Paid advertising in specific platforms

• Web personalization

• Events (whenever they are appropriate again)

Account‐Based Marketing (ABM) Implementation

Like anything else the process is relatively simple:

• Identify high value targets

• Research each account

• Customize a marketing campaign

• Launch

• Measure Effectiveness and make necessary changes along the way

Account‐Based Marketing (ABM) Process

Account‐Based Marketing (ABM) versus Traditional Marketing

“If you try to market to everyone, you end up marketing to no one”

Marketing Insight #4

Target Market Definitions

CourseWork

Define your “ideal” target markets based on the Target Market Analysis Worksheet.

Buyer Personas

B2B Buyer Persona Example: Engineer

Buyer Persona + Buying Cycle = Content Marketing Framework

• Using an outside service vs. doing this in‐house

• Pre‐survey letter

• 15 Questions

SMB Phase 1: Customer Value Surveys

• Example in Manufacturing Quality (Table Stake) Lead Time On‐Time Delivery Price Other

According to our survey, 50% of customers were willing to pay 10‐30% more when a lead time can be met!

Decision‐making Values Biggest Frustrations

Buyer Personas

CourseWork

Create profiles for the types of people you interact with most often who are the decision‐makers. You can also consider influencers.

Thank You!

Vince Kostelnik

vince@adejsolutions.com

https://adejsolutions.com/

Office: (412) 754‐1267

Cell: (412) 600‐3412

Connect with me on LinkedIn:https://www.linkedin.com/in/vincekostelnik/