70
the average American is exposed to over
marketing messages per
day
SOURCE: Jim Shenk, “Data Smog”
3,000
State
today
the
of marketing
How do consumers get most of their information about products and services?
• Advertisements
• Web Sites
• Word of Mouth
67% of the U.S. economy is affected by
SOURCE: McKinsey & Co.
Word of Mouth
Marketing Assessment
Workbook
this is why
Your Brand is important
what are people saying about:
You?
Your Company?
Your Products?
Your Services?
What makes you stand out? What makes you untouchable?
what comes to mind when you see…
what comes to mind when you see…
your brand is what
you’re famous for
• Word or Phrase• Category• Emotion
Strong brands share four characteristics:
1. Own a position in the mind2. Create trust 3. Are focused4. Based on Beliefs or Emotions
Own a Position
Create Trust
Focused
based on Beliefs or Emotions
homework assignment:
1. Find out what your customers think of your brand
2. Find out what your partners, staff and vendors think of your brand
fact:
Customers won’t be loyal to something that employees don’t believe in.Everyone must think and act like a brand.
your brand is a strategic issue before it is a marketing issue
• Senior management must lead• Don’t delegated responsibility
fact:
once you understand the
importance of your brand
it is now time to
integrate it
market it
and get results
Pepsi makes advertising history in 1940 with the first advertising jingle ever broadcast nationwide.
"Pepsi-Cola hits the spot/Twelve full ounces that's a lot/Twice as much for a nickel, too/Pepsi-Cola is the drink for you."
"Nickel, Nickel" will eventually become a hit record and will be translated into 55 languages.
Kuwait City is pretty far from Des Plaines, Illinois, but that didn't stop 15,000 customers from lining up on opening day in 1994. The line at the drive thru was seven miles long.
Proving once again that "Good Times, Great Taste" is understandable in any language.
Return On Investment
R - realize what is working and what is not
O - observe successful marketing programs and companies that are getting results
I - implement strategies with measurable results
Mavs owner Mark Cuban receives numerous fan e-mails each day, and to recognize fans for giving him their thoughts and questions, the club has created an "e-mail of the day" so everyone can read the questions and responses.
To send an e-mail, click Mark Cuban E-mail
If you prefer that we contact you by phone, please include your telephone number.
know your customer
SOURCE: http://www.nba.com/mavericks/
my company is small…. i can’t afford to spend much on
marketing…
guess what!
Krispy Kreme started as a small business
so did
McDonalds and Pepsi Caleb Bradham, a North Carolina
pharmacist, created "Brad's Drink," a carbonated soft drink to serve his
drugstore's fountain customers.
Ray Kroc opened the Des Plaines restaurant in 1955. First day's revenues-$366.12!
A look at what’s available from the SBDC
Industry and B2B Market Research Develop Prospect and Competitor ListsHow do you find your competitors or develop a B2B prospect list? Do you thumb through the yellow pages? Search the Internet?
ISBDC has access to the two leading company information database resources: Dun & Bradstreet Million Dollar Total and ReferenceUSA. ISBDC Business Advisors can help you develop an Excel or PDF list with contact names, addresses, phone numbers, and company information matching the criteria you select.
Researching Your Industry •The ISBDC has access to many nationally recognized market research databases. ISBDC Business Advisors can help you use these tools to locate accurate and relevant industry information.
•Find the information you need to know about your industry; including market trends, best practices, current conditions, industry leaders, and future industry-specific technology.
•Find out how your business income statement and balance sheet compare to businesses of the same size in the same industry using industry financial ratios. Research is compiled from local and national publications.
Market Research with ESRI
Researching local market demographics can give your business insight on consumer buying behavior. ESRI Business Analyst Online provides users the ability to access the same demographic profiles large corporations use when making marketing and relocation decisions.
Market Research with ESRI Would you like to find new customers? Do you need help evaluating competitors? Are you searching for untapped markets? Do you need help analyzing your trade areas? Are you searching for a new store location?
•Choose from more than 40 preformatted reports. Define your study area from geographies such as block group, census tract, or ZIP code.
•Reports give you detailed information by household or other user-defined categories that you can visualize as charts or in a dynamic thematic map.
•These reports are a must have for anyone developing a business plan.
Additional information can be found at: http://isbdc.org
marketing should be focused on
building a relationship with your customers and future ones
0102030405060708090
1 2 4 5 9
mindshare %
3 6 7 8
WRONG WAY
time in months
0102030405060708090
0.5 1 2 2.5 4.5
mindshare %
1.5 3 3.5 4
13 to 14
weeks
RIGHT WAY
time in months
0102030405060708090
1 2 4 5 9
mindshare %
3 6 7 8
MAXIMIZE
time in months
a loyal customer is:
5 times more profitable
than a new one
SOURCE: Fred Reicheld, “The Loyalty Effect”
relationship marketing has 4 key components:
1. It has to be personalized.
Personalization can come in the form of a highly targeted direct mail piece, a phone call or email.
2. It has to be targeted.
Wal-Mart invests money in maintaining relationships with existing customers. By targeting this group Wal-Mart establishes long-term relationships with their most loyal shoppers.
3. It has to be meaningful. Your marketing message has to connect in an
emotional way to establish a lasting relationship.
4. It should be interactive.
Walmart.com does a great job of asking for the relationship online by providing special offers to those who supply their email address. It is important to make relationship marketing interactive so you can hear feedback, determine what is working and what is not.
but i don’t sell
to consumers…
i sell to businesses…
what should i be doing???
Positioning is more important in B2B marketing.
Market your guarantee!
20% of the buying decision is made on your guarantee.
business relationship marketing can be achieved by following
these tactics…
Develop a relationship by mixing knowledge with fun.
Plan events for clients and prospects that educate while offering entertainment and social interaction.
Send out a monthly eNewsletter or eZine with useful content that connects to your clients and prospects.
This tactic will show them that you care about their business and value their time by providing them information they can use. Stay away from a sales focus... Provide industry and product news with some entertainment value.
Initiate an appreciation program.
Send customers thank you cards or gifts after making a purchase. You can also send a thank you gift to show appreciation for their business on the account anniversary date.
Look for ways to help your clients and prospects beyond your own capabilities.
Refer them to other quality vendors, share an article related to their business or put them in touch with someone who can help. This will go a long way in building a relationship.
Make phone calls.
Email is easy but picking up the phone and thanking someone for using your company can go a long way. Don't forget the value of real conversations and face-to-face meetings.
tips and tools:
• talk with customers in person often
• have customers interviewed by a third party
• scour the web
• form a customer advisory board
• use marketing experts
• treat your database as your most valuable asset
• track and measure
tips and tools:
• have a plan for when you communications go down
What impact will it have on your company if you can’t receive a call or a fax for 2 Hours, 8 Hours, 2 Days or 2 Weeks?
It’s not a matter of IF, only a matter of WHEN an outage of some type will occur. Up until now, traditional telecom solutions have had serious limitations or are prohibitively expensive.
Don’t let a disaster, or any other telecom outage/disruption, cause your
business to lose revenues. Our system can be activated quickly.
What types of marketing work?
They all do, but they all will not work for you!
• What marketing activities are you doing on a monthly basis to generate sales?
• How are you tracking the results?
• What are you not doing you wish you could?
• What are the barriers holding you back?
What is working for you?
Where did your last big sale
come from?
Channel Back
Internet Marketing
•How to get a website for under $100
•How to use the internet to grow your business for free
•Should I pay to advertise online?
Internet Marketing
•www.mariontool.com•www.excaliburcatering.net•www.vigofair.com•www.goedgemarketing.com
All sites built for under $100
Internet Marketing
Internet Marketing
Internet Marketing
Internet Marketing
Email:
ExactTarget.comConstantContact.com
Web Site:52bucks.comGoDaddy.comYahoo.com
Networking:GoRainmakers.com
News and Tips:GoEdgeMarketing.com
Recommended Resources
