chris west - marketing on a beermat
DESCRIPTION
Chris West - Marketing on a Beermat from the Sales & Marketing Workshop held on Thursday 22nd April 2010TRANSCRIPT
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What kind of Business are you?
• Products or services• Selling to the public or to organizations?• If the latter, are they big or small?• Do your customers have to visit you, or do you
‘deliver’ to them?
• How big?• How old?
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What is Marketing?
Not• Spending a fortune• Lying about your products
It is• Selling the right products at the right prices to the right
people in the right way
Marketing and sales:• Marketing creates the context in which sales take place
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The Three Aspects of Marketing
• Strategy• Intelligence• Communication
Other people make other ‘splits’• Kotler’s 4P model. (Product, price, promotion,
place)
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The Marketing Mindset 1• Know your customers– Think and feel from their point of view
• Remember they are rational– Given what they think they need…– And what you have told them about your
product…– They always make a good decision
• A structured response
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The Marketing Mindset 2
• Concern for a win / win outcome– Customers get benefits they value– You get profits
• Current mess caused by finance mindset overriding marketing one
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Five Questions
1. What’s the pain?
2. Who for?
3. What are you going to do about it?
4. Why should people switch to you?
5. Says who?
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Pain1. What’s the pain?– Time, money, effort– Can you quantify it?
2. Who for? (Your target market)
– Where, among the places where the pain is severe…
– can we reach customers easily…– and be maximally effective?
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Products
3. What are we going to do about that pain?
Clearly defined and priced bundles of benefit that you sell repeatably and profitably
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Positioning
4. Why should people in our target market switch to us from their existing supplier?
• ‘Give me one good reason why I should buy from you!”
• USP and positioning• Branding
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Credibility
(“Oh yeah?”) Doesn’t begin with P!
• Endorsements• Referrals• Case Studies
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Elevator Pitch
We help………….
Who have a problem with………..
By…………
We’re special because………
And you can believe me because……
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Positioning 2
• A systematic look at your competition, and why you are different from each one of them
• Draw a ‘market map’…• …or rather several market maps
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ProductsClearly defined
The customer knows what they are getting… and priced
…And how much they will pay for itBundles
Can be more than one – but one is enoughof benefit
Not features!that you sell repeatably
Over and over again and profitably.
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Features, Benefits, Value and Price• Every product has hundreds of features– “So what?”
• Benefits are what actually solves customer pain– Think time, money or effort – Can be ‘fun’ for consumers
• Value relates to benefit
• People pay for value, so value controls price – Good marketing supports price by demonstrating value
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Pricing
• What is the market currently paying to solve the pain?
• Why should they pay more?
• Price points
• Platinum, gold, silver
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Product Range
• Old faithful
• Taster
• Premium product
• New product on its way
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‘Whole products’
Customers want pain solved, not ‘things’Make sure the product includes• Training in how to use it• Continuing ‘hand-holding’• Guarantees• Upgrades that continue to represent value
(rather than just rip off captive customers)
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Product Adoption CycleEnthusiasts• Love the tech, will help build, want it freeEarly adopters• See tech as new solution to old problem, will pay but want it
customizedEarly majority• Will pile in in big numbers once they know what the product
does, costs etc.Late majority• Wait for market leaderLaggards• Over my dead body! (Hide the tech in something else)
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‘The Chasm’… between early adopters and early majority. Early
majority…
• Demand more reliability• Corporate style• Pay less• Listen to different opinion formers
Conquer a beachhead market, show how good you are, and expand out from there
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Research
• Be a nerd!– Much more easily done with a partner
• Market wisdom– two years? to acquire
• Keep learning– Companies can ‘go off the boil’
• ? Best use of social media– know your customers
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Ways to research
Desk research• Online• Trade magazines
Talk to people• Structured interviews – ‘Can I have 30 minutes of
your time, please?’• Trade events• General networking
Don’t sell, learn!
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Your customers (current and potential)
• What are the five biggest issues facing them?
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Brand and Branding• Brand– The essence of who you are– Links to USP and positioning
• Branding– The expression of this through various media
• Love your brand, but don’t loose too much sleep over branding
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For many small Service Businesses…• You are the brand!– The You-SP
• So take it out there– Name– Networking, on- and off-line– Establish expertise
• If you want to sell the business, you must change this!
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More important than brand…
• Reputation• Reputation• Reputation
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‘Routes to market’
• Or rather, customers’ routes to you!• Loads of ways people can buy• What is standard in your market?• Are you going to change that or stick to the
existing model?• Make it easy for the customer to buy• Make it fun for the customer to buy
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Some popular routes• Sales force• Retail• Online
– eCommerce– eBay
• ‘Bundled in’– Hidden part of someone else’s offer
• Agents and distributors– Beware channel conflict
• Franchising• Multi-level marketing
– Poor reputation
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Strategic Allies• Great way for a small business to get started• “How can I improve your offer?”• Can also be small company– Cross referral– Joint promotion
• You must be realistic• Empathy • Start slowly – can be hard to unwind
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Starting to talk to the market• Don’t do this too early• ‘Beermat’ method: test and refine products
first• Then…– Name (company and domain)– Business card / stationery– Website– House style– (Possibly) logo
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The Three Questions of Market Communication
• Who do you want to talk to?
• What do you want them to do?
• How will you gather evidence that they have done it?
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Traditional communication methods
• Business card and stationery• Brochures – Have a ‘leave-behind’
• PR• Advertising• Direct mail• Catalogues• Trade fairs
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Basic rules of PR
• Target!
• Be realistic
• Create News
• Measure
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PR
• Can be free!
• Think local and trade, not national
• Get material professionally written
• Get to know journalists
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Case Studies• Classic ‘story shape’ – beginning, middle and
end– Customer with problems– You come in and solve (complications?)– Happy end
• Work them out with your favourite customer• Put them on your website• Use them for PR– Especially if quirky
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Making News
• Case Studies• Surveys• Events• Awards• Sponsorship• Stunts (?)• Link to ‘National Days’• Charitable work and health issues
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Press Releases
• Header – grabs attention• Information• Expand on the information• A quote• Contact details
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How not to do a press release
New therapy practice in MiddletownElspeth Scott has a Level 3 Diploma in aromatherapy,
which she gained at Middletown College of Further Education. She is also trained to level 2 in massage.
She is now offering aromatherapy treatment for a range of health and psychological problems.
She says: “I want to create the best possible experience for my customers.”
Contact her on…
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AdvertisingAre you sure you can’t PR it?
• Heading– ‘selects audience and promises benefit’
• Call to action– Not just ‘Coo-ee’
• AIDA• Test rigorously
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Direct Mail
• Most important factor is the list• Test the list• Expect low response rate…• …But it’s cheap and predictable• Works particularly well in some areas– Charities– Collectables
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Your Website• Basic role – “Who are you, again?”
– An online brochure– Have address on all your materials
• A tool for establishing credibility– Case studies, expert hints etc.– Podcasts and video
• A research tool– Collect email addresses– Reader comments on materials
• A sales outlet – full-on ecommerce
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Search Engine Optimization
• Getting your site ranked on Google• Two ‘pillars’– Keyword-based Text– Quality inbound links
• You can do a bit of this…• …But serious SEO is a job for a professional
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Email Marketing
• Gather email addresses and basic details– Collect cards at events– Have a give-away online
• Keep in touch with these people online– Occasional ‘nudge’– Newsletter (must be interesting!)– They can always unsubscribe
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Blogging• Best if you have strong, controversial views on
industry topics and can write well
• Either do it well or don’t bother
• Takes up time– So you’d better enjoy it
• Now a well-understood marketing tool
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Videos• Informative or funny• Don’t need brilliant production• Put them up on YouTube– Link to your site
• Promote them – But don’t distract from key message
• ‘Going viral’– A bit of a dream
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GoogleAds
• A marketer’s dream– Targeted– Measurable– Ideal outcome – “It costs £8 to get a new
customer” – is possible.
• Can turn into a nightmare– Get a pro to run your campaign
• Not a magic bullet for everyone.
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Networking
• On and off-line– Facebook, twitter– Mike will talk more about this
• Follow your customers– If they twitter, get twittering
• Enjoy it!– If you hate it, don’t do it
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A caveat…
• Lots of ‘Social network’ marketing is fun• But – bewildering set of choices– What’s the single most useful new thing I could do
to boost my marketing?
• Remember basic questions– Are you talking to the right people?– Are you sending the right message?– Is it an effective use of your valuable time?
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The Value of Existing Customers• 6x as hard to get a new one as to sell to an
existing one
• Never stop learning about them– CRM– Talk to them!– Follow them on twitter etc.
• Segment into three archetypes– Top 20%– Mid-range– Loss-makers
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Your top flight customers
• Who are your top 20%?
• What are you going to do to make them happy?
• How often do you talk to them?
• What referrals and endorsements are they giving you?
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And the other levels?
• Your mid-range customers– Can you ‘upgrade’ them?
• Have you any customers who lose you money and whom you don’t like?
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Marketing initiatives
• Plan each one• Two essential types– ‘Drip of publicity’– One off ‘Campaigns’
• Set ‘SMART’ targets…• …And measure them!
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For every campaign
• Campaign• Who to• What we offer• When• Budget• Expected result
• Actual result
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Marketing and the Recession
• It won’t last forever
• Research shows that businesses that hibernate find it hard to catch up
• Make all your marketing work hard
• Enjoy your marketing
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To conclude…
• What are the three biggest lessons I have learnt from this session?
• What three things am I going to do differently tomorrow?