Marketing Presentation

Act, Don’t React to Your Market Mark Wan Business Advisor Small Business Development Center Farmingdale State University of New York

Marketing Marketing: turning a concept into a process of creating, offering and exchanging products and services of value with others. The two audiences: Consumers (B to C) Businesses (B to B)

Today’s workshop is only about four words. PERCEPTION PERSISTENCE PREPARATION PROPORTION

Why is Marketing important? Marketing and sales go hand-in-hand. Without sales, there’s no new business and without new business…there’s NO business. Marketing and Advertising go hand-in-hand too. Difference? Awareness versus action.

What effect does Marketing have? Marketing has an effect on: >> PERCEPTION!!! (by everyone) >> How well your product/ service will be received and understood in the marketplace >> Your bottom-line…profits

Marketing Objectives Primarily, marketing is used to satisfy the following objectives: >> Acquisition – Prospecting (new biz) >> Retention – Satisfying current clients/customers >> Win-back – Getting back past clients/customers

Elements of Promotion >> Advertising >> Direct Marketing >> Sales Promotion >> PR / Publicity >> Personal Sales

Advertising >> Slightly different from Marketing in that the goal is to gain awareness >> Certainly necessary to build your brand >> Gets you out in front of your target audience -- --

Advertising Is generally not proven to translate directly into sales. Advertisements, if you “must” do them, keep all documents consistent. (flyers, brochures, business cards, etc.) -- --

Advertising Advertising has its place in big business, but it is important to note that small businesses (with limited budgets) typically have better results with direct response methods which allow them to get a response (phones ringing, customers walking in the door, actual sales, etc.) -- --

Advertising >> Print Ads >> Billboards >> Yellow Pages Note: By simply having a business phone number, you’ll get a FREE listing in the printed and online version of the yellow pages. -- --

Direct Marketing Defined >> Response-focused (direct response) >> Track-able (codes, clicks, visitors, call volume, sales, etc.) Direct Response Creative >> Pitch >> Offer >> Response Mechanism (Call to Action) -- --

Knowing Good Creative You don’t need to be a creative genius. A simple approach to summing-up whether creative is “good” or not is AIDA. >> A = Attention >> I = Interest >> D = Desire >> A = Action -- --

Direct Marketing What can it do for me? >> Break the ice for a follow up sales call >> Drive traffic to your brick-and-mortar and click-and-mortar store >> Drive mail order and e-commerce sales >> Generate inquiries and leads -- --

Direct Marketing Direct Mail – Ultimate Ice-breaker >>Sales letters >> On company letterhead and envelope >> Simple and cost-effective >> Personalized or boiler-plate -- --

Direct Marketing Direct Mail >>Postcards >> Quick-read >> Low postage (w/ bulk mail) >> Cost-effective >> Appeal for many audiences >> Multiple uses -- --

Direct Marketing Direct Mail >> Media Kits (leads) >> Catalogs (selling direct) >> Brochures / Flyers (selling direct) -- --

Direct Marketing But WHO do I send the direct mail to? House List If you don’t have one, not to worry. But it’s time to start building one. Many off-the-shelf programs such as ACT!, FileMaker Pro, Access or even Excel can offer a place for you to store and segment prospects and customers. -- --

Direct Marketing House List Be sure to collect the following fields: >> First and Last Name >> Title (if applicable) >> Address including City, State and Zip >> Phone, Fax and Email >> Date entered and source >> Client / Customer or Prospect Status Fact about House Lists: Your house list is twice as likely to purchase your products or services versus a rented list. -- --

Direct Marketing Data Sources: >> Before you throw out that collection of business cards… >> Old (and future) interview contacts, ex-bosses and ex-colleagues >> Family and friends (real estate, ins.) -- --

Direct Marketing Rented Lists: target precisely to find your customer (individual or business) >> Publisher Lists (i.e. readers of Forbes) >> Compiled Lists (i.e. Yellow Pages) >> Mail, Telemarketing and E-mail >> List Brokers Prices: >> Mail = $75 - $150/M >> Telemarketing = $100 - $175/M >> E-Mail = $200 - $400/M -- --

Direct Marketing One percent??? How many impressions/ times does it take to pass the garbage can test? Rankings: 1. Existing customers 2. Referrals from customers 3. Lead that finds you 4. Member of targeted mailing list 5. Member of random list

Direct Mail Direct Mail can be an easy, cost-effective way to generate phone calls or walk-ins. It works for lead-generation and sometimes direct sales. Using Telemarketing can be good when used to set-up appointments as well as breaking down barriers to entry and “closing deals.” Using them together (one-two approach) is ALWAYS more effective. Multiple hits!!! w/ permission, of course. -- --

Direct Mail Creating great direct mail: >> You can always discreetly “borrow” good concepts, imagery and copy. Outright stealing or using copyright/ trademarked material is illegal. >> Frequently created in program called Quark. Graphic designers can be contracted to do this type of work. -- --

Telemarketing Telemarketing >> Extremely effective…especially outside of the Tri-State area…no matter what New Yorkers think of it. >> Always draft a “human-sounding” script >> Script should contain: a) intro b) pitch c) offer d) call to action (ask for the order) -- --

Online Advertising Online Advertising >> Very popular (and still growing) as budgets in corporate America decline >> Cost-effective (lots of eyeballs) >> Your target audience IS probably online (seniors, moms, teens, businesses, etc.) -- --

Online Advertising What does Online Advertising encompass: >> Websites >> Banners >> Pop Ups, Pop Unders, Daughter Window >> Search Engine Optimization >> Email Marketing >> And whatever’s “next” when marketing in the online world. -- --

Websites When your business is online, are you: >> Open 24 / 7? >> Able to generate leads / sales while you sleep? >> Going to get traffic without any advertising? -- --

Websites >> Depending on your type of business and type of website, having one may or may not help >> Most legit hosting companies charge around $19.95 / mo. >> Setting up your site is as easy as 1) Securing your URL 2) Creating your site 3) Hosting and posting your site -- --

Websites Quick overview of websites: >> Home Page: who you are and what you do >> About Us: detail about the company, when you started the business, background of the principals >> Products/Services: what you are selling, from your service descriptions to actual products >> Contact Us: all forms of contact >> All pages should have a consistent look / feel -- --

Websites To get started on the web: >> Interactive Designers >> Agencies >> Yourself (WYSIWYG Programs such as Dreamweaver, Front Page,etc.) >> www.websitedesigninstitute.org -- --

Websites The mere fact that you are on the web means very little to gaining new customers.

Banners You’ve got a site. Now, drive traffic to it. Banners >> All shapes and sizes, easily created >> Clearly display what you’re selling >> An offer to interest viewers >> Call to action (click here) >> Flash, Photoshop, ImageReady, Fireworks >> Yours, affiliates, partners websites, paid placement (Google AdWords, etc.) -- --

Banners Paying for it >> impressions (exposure) to audience >> cost-per-click (better) >> cost-per-lead (even better) >> cost-per-sale (best) Depends…but negotiation is key. -- --

Search Engines Lycos, Netscape, Google, Overture, Yahoo! and dozens more. >> Recent behavior: people go to search engines to find what they’re looking for >> Do you want to be on that list? -- --

Search Engines Search Engine Optimization and Ranking >> Good meta tags (example) >> Register with each search engine (beware 1,000 for $99 deals) >> Buy placements by bidding for keywords, terms, etc. (Overture) -- --

Search Engines Service Providers >> You determine the terms and keywords as well as the bid price. You’ll know where you rank and how much to bid. >> Set a fixed budget or it can get out of hand (ex. $50 per month) >> Reports are useful and, like everything, you’ll need to monitor the process to make sure you’re meeting your objectives. -- --

Search Engines >> Search engine optimization is a growing trend: the “great hope” is that: for $50/ month, how many new clients could you land? -- --

Email Marketing The new mail for 21 st century. Initially, very cost efficient, and was slated to “replace” direct mail. Until the marketers got out of control and SPAM came on the scene. -- --

Email Marketing >> Don’t send SPAM (unsolicited junk e-mail) >> Gets you in trouble >> Brand/ company suffers >> Annoys people even if they “opted-in” >> Gets you blocked from ISP’s now and maybe the future >> Opt-In lists are the ONLY way to go -- --

Email Marketing What should we use e-mail for? >> Client Communications >>Announcements >> Promotions >> Newsletters As with direct mail, it’ll be most effective when using a house file. But if you’re good about capturing e-mail addresses (and permission) you’ll be able to build your file in no time at all. -- --

Email Marketing Rented E-mail lists and E-mail sponsorships >> Use a broker >> Research your list >> Send the list owner your creative (HTML and/or Text) >> Tell the list owner when to deploy -- --

Email Marketing Uses: >> Driving traffic to your site >> Branding your company so people know you’re in business >> Notifying prospects/customers of special deals and promotions >> General communications -- --

Email Marketing >> Disciplining your expectations Test small quantities first >> 1%? .1%? .01%? .001%? E-mails are hard to read >> Results are in… Within 72 hours of distribution -- --

Event Marketing Powerful tool for generating business >> Client Events >> Prospect Events >> Trade Shows and Conferences -- --

Event Marketing Speaking Engagements >> Easy access to your target audience >> You’re the expert >> Establish good relationships >> Speak at trade shows, events, stand-alone talks – get in the door! >> Consider joining a speaker’s bureau. -- --

Event Marketing Hosting Client and Customer Events: A breakfast, lunch, dinner, holiday party or in-store “free-things” event is worth the added expense. >> Face-time with your clients/customers >> Pitch your newest products/ideas >> Cross sell additional products and services >> One-on-one or group ($15-$30 pp) >> Generate goodwill and referrals >> Pitch to their PERCEPTIONS and NEEDS!! -- --

Event Marketing Trade Shows / Forums / Conferences >> Go to the important ones >> Go to cost-effective, local ones >> Try to get a free exhibit hall pass, go >> Great time to set up sales calls >> Excellent networking -- --

Event Marketing Events are great for networking and talking-shop among your associates face-to-face. >> Go when it makes sense >> Bring plenty of business cards/ marketing materials to hand out >> Speak whenever you get the chance You never know when or where you’ll generate that next big lead or partnership. Prepare your pitch so you can spend time listening to your prospects. -- --

Affiliate Marketing Leveraging relationships: a great way to get in front of new businesses and make deals and partnerships >> Pay content providers when a customer takes a measurable action, like a request for information, subscription or purchase >> Approach key associations in your trade dealing with your target market >> Partners and complimentary services and products -- --

Affiliate Marketing >> Affiliates promote your company for you >> Viral marketing provides greater potential for growth >> Cooperative marketing saves money and builds valuable relationships >> An internet site or association for everything -- --

Affiliate Marketing Online companies you pay to get into: >> Solution Providers >> Affiliate Networks >> Internet Affiliate Marketing Association (www.iafma.org) -- --

Public Relations / Publicity >> Leverage the newsworthy credentials of papers, trades or even broadcast >> Hard to get, but FREE -- --

Public Relations / Publicity Submit directly to editors/ reporters or use professional PR people >> Press releases, quotes, articles, advertorial, or even a book >> Newsworthy!! Not a sales pitch >> Innovative info and convey benefits >> Otherwise, it will not get picked up. -- --

Public Relations / Publicity >> No guarantee it will run >> You are responsible for “tracking” what gets picked up >> Trade magazines, online newsletters, and newspapers have submission info on front cover >> If interested, editor generally will contact you -- --

Sales Promotion A great way to generate additional sales, trials, traffic, leads, etc. is to have promotions. Special deals, offers, incentives: >> Coupons >> Sweepstakes (get an attorney) >> Contests (must be judged skill) >> Sales / Discounts >> Premiums and Giveaways -- --

Sales Promotion A special deal sometimes breaks down that barrier to entry and gets prospects into action. >> Distributing coupons in the local paper >> Giveaway free tote bag with your company logo on it >> Contest for free annual membership -- --

One-to-One Sales Be your businesses biggest advocate. Always “sell” your company…even if you’re not big on selling. >> Be able to explain what you do in about 30 seconds or less >> Remember that you don’t know where opportunity’s going to appear…so be prepared >> Be able to ask for the order … or business -- --

Summary >> Use AIDA to sum up good creative… >> Direct Mail…the ultimate ice-breaker >> Start building your house list/database >> Having an online presence (website) allows you to do business while you sleep…24/7 >> Use opt-in E-mail marketing for newsletters, follow-up, promotions…whatever >> Network, conduct events and ALWAYS actively sell your company’s products/services -- --

If you missed the last 3 hours, then listen for 3 minutes and get the most important concepts of the day. Customer perception is your guide deciding on marketing Prepare your words so you Don’t have to fumble over them AND So you can actually LISTEN when your customers are telling you their needs Most of today’s lessons will only generate 25% of your sales – YOUR CURRENT CONTACTS ARE 75%!!! Spend time proportionate to campaign successes

Thank You This presentation was created by Integrated Direct , edited by Mark Wan, for the use of the SBDC at Farmingdale State University -- --

Marketing Presentation

More Related Content

What's hot (20)

Viewers also liked (20)

Similar to Marketing Presentation (20)

More from taylandemirkaya (7)

Recently uploaded (20)

Marketing Presentation