marketing 101 powerpoint 2009

Old Colorado City Merchants & Businesses

January 22, 2009

6:00 - 8:00 pm

3216 West Colorado Avenue

Colorado Springs, CO 80904

(719) 226-2265

Old Colorado City Merchants & Businesses

January 22, 2009

PURPOSE

Define MARKETING

How to effectively MARKET your business

How to BRAND your business

How to find VALUE in advertising

The next step

WHAT IS MARKETING

The process of organizing and directing all the

company activities which relate to determining

the market demand and converting the

customers buying power into an effective

demand for a service and bringing that service

to the customer.

The practice of encouraging consumers to buy

products.

WHAT IS MARKETING?

HOW TO EFFECTIVELY MARKET YOUR BUSINESS

There are 9 tips to effectively market your

business

MARKETING TIP #1

Look for some low-cost ways you can enhance

the perceived value of your product or service.

Then test raising your price.

Don't be surprised if both your sales and your

profit margin go up.

MARKETING TIP #2

Try to limit your customer's decision making to

either "Yes. I'll buy." or "No. I won't buy".

Don't risk losing them by including "which one"

decisions.

The more options you offer, the more likely

some customers will procrastinate and never

make the decision ...causing you to lose a sale

needlessly.

MARKETING TIP #3

You can demonstrate a low cost for your

product or service by breaking down the price

to its lowest time increment.

For example, "Enjoy all of this for less than .90

cents a day" (for something priced at $325 a

year).

MARKETING TIP #4

Add an unexpected bonus to every sales

transaction just before completing the sale.

It prevents customers from developing any last

minute hesitation ..and changing their minds

about buying.

MARKETING TIP #5

Print your best small ad on a postcard and mail

it to prospects in your targeted market.

Postcards are inexpensive and easy to use.

Most recipients who ignore other types of

advertising will read a brief ad when it's

delivered to them on a postcard.

It makes the consumer touch your ad directly

out of the mailbox.

MARKETING TIP #6

Prospects who ask questions are usually close

to buying. Take advantage of this. Don't just

answer their question. Include a reason for

them to buy as part of your answer. Then ask

for the sale ...or tell them exactly what to do to

place their order.

MARKETING TIP #7

Collect testimonials from your customers and

use them in all your advertising.

Testimonials provide evidence that your product

or service delivers the results you promise.

For maximum impact, use only testimonials

that describe specific results the customer

enjoyed.

MARKETING TIP #8

Include "benefit rich" headlines on all your web

pages.

Many visitors arrive at a web page then

immediately click away ...unless something

instantly catches their attention.

MARKETING TIP #9

Continually test and evaluate everything you

use or do to promote your business.

Allocate 80 percent of your advertising budget

to proven promotions.

Use the other 20 percent for testing new

variations.

Most businesses using this system continue

growing - even in highly competitive markets.

BONUS TIP

Handle customer complaints quickly and with a positive attitude.

Strive to preserve your relationship with them instead of your immediate profit from the transaction.

They will reward you with repeat sales and referrals ..instead of punishing you by telling everybody they know about their unhappy experience and causing you to lose future customers.

HOW TO BRAND YOUR BUSINESS

Your business has an image.

It doesn’t matter if you spent thousands of

dollars on a logo and marketing materials or

took ten minutes to slap a piece of clipart on a

business card, your business still has an image.

http://www.google.com/imgres?imgurl=http://www.hellhq.co.nz/images/CokeLogo.jpg&imgrefurl=http://www.hellhq.co.nz/archive.htm&h=289&w=289&sz=12&tbnid=7a5DzKzjiE8J::&tbnh=115&tbnw=115&prev=/images?q=coke+logo&hl=en&usg=__hzLu2SB68BW_7AfSS4t6SEsNzkA=&sa=X&oi=image_result&resnum=4&ct=image&cd=1

http://www.google.com/imgres?imgurl=http://khourystand.com/images/PepsiLogo2.jpg&imgrefurl=http://khourystand.com/index-1.html&h=393&w=466&sz=45&tbnid=gOJs2fhpjKMJ::&tbnh=108&tbnw=128&prev=/images?q=pepsi+logo&hl=en&usg=__Xhett42Sf2HbGKQ6VvIIIhyPG6c=&sa=X&oi=image_result&resnum=3&ct=image&cd=1


A business’ image consists of logo, slogan (tag

line), color, fonts, etc.

It’s also part of how you brand your business.

Image and brand building is important so that

people think about your business when they

need your products or services.


Put your logo to work.

Probably the most memorable part of your

image is your logo.

Your logo represents your business and it helps

sell your business.

It turns the name of your company into a visual,

tells what you sell, and reinforces your company

name and product.


Why should you care about building your

brand?

What is a brand anyway?

Why can Starbucks get more money for a cup

of coffee rather than the local mini-mart?


There is inherent value in “brand equity.”

Simply put, brand equity is the set of assets (or

liabilities) associated with brands that contribute to

the value consumers place on the brand

experience.

In other words, a well-established brand makes

your product or service worth more. It’s that

simple!


Branding is not something that happens

overnight.

Brands are created over time.

When Betsy Ross brought Ben Franklin her first flag

design, Ben remarked, “I don’t know, Betsy, all

those stars and all those stripes just don’t say

America to me.”

Branding takes time.


A brand is an image that exists in consumers’

minds.

Consumers come to believe in a product’s quality,

reliability, results and status because they see repeated

assurances that the product delivers those attributes.

When consumers are motivated by a product’s brand

attributes, they choose that product over similar ones in

the marketplace.

Why buy NIKE as opposed to just sneakers? A BMW

rather than a Suzuki?


Everything you do contributes to your brand.

Before you can build your brand, you need to

understand what your brand’s attributes are and

what your brand’s positioning should be.

How does your brand stack up against the

competition?

What are your brand’s strengths and weaknesses?


Know your competition.

You will never know whether your marketing

initiatives are successfully building your brand

unless you have measured your competitive

position.

How does your target market feel about your

brand?

How does your brand, without advertising, measure

up against your competition?

BRANDING WORKSHEET

DEALING WITH REJECTION (PT. 1)

“I tried advertising and it didn’t work.”

“Yeah, I know,” whispered the little voice inside me, “I see it not

work every day.”

But if that advertiser’s message is weak, you’ll soon be

hearing, “I bought what you said and it didn’t work.” I had been

groping blindly in a pitch-dark room when I flicked the light

switch on the wall. Suddenly everything was clear: Message

and copy are two different things.


"The fish trap exists because of the fish. Once you've gotten the fish you can forget the trap. The rabbit snare exists because of the rabbit. Once you've gotten the rabbit, you can forget the snare. Words exist because of meaning. Once you've gotten the meaning, you can forget the words." –Chuang-tzu, 350 BC

If Chuang-tzu had been in advertising, he would have said, “Copy exists because of message. Once you’ve gotten the message, you can forget the copy.”


1. No one ever plans to have a traffic accident.

2. You don’t really have to get 3 estimates from 3 different body shops.

3. You don’t even have to pay your $250 or $500 deductible.

4. Your insurance company will happily pay whatever their adjustor says is

the right amount.

5. When you’ve been involved in a traffic accident, call me.

6. I’ll send out a wrecker to pick up you and your car.

7. I’ll give you a free loaner car to drive while I’m repairing your car.

8. I’ll notify your insurance company and meet with the adjustor.

9. I’ll fix your car for whatever amount the insurance adjustor agrees to

pay.

10. You don’t even have to pay your deductible.

11. And since we’ve already got the paint in the gun, we’ll fix those little

door dings and scratches on the other side of the car that were there

before the accident. No extra charge.

12. You’ll get back a car that’s better than it was before the accident.


1. They need to stay on the air long enough for people to hear them and remember their message. That’s when they’ll begin to see results.

2. Then they have to wait for the listener to need them.

3. The longer they stay on the air, the deeper the message goes into memory and the better it works.


1. The advertiser with a weak message, often repeated, will prevail over a competitor with an equally weak message less often heard. When weak vs. weak, frequency is a tiebreaker.

2. The advertiser with a weak message wrapped in cleverness and humor will prevail over a competitor with an equally weak message wrapped in a brown paper bag.

3. The advertiser with a weak message and a big ad budget will prevail over a competitor with a strong message that never gets heard.

3 KEYS TO A SUCCESSFUL PRINT AD

1. Write for the EYE, focus on VISUAL

2. Write for the BUSY EYE

3. Keep your TARGET MARKET in mind

KEY #1 TO A SUCCESSFUL PRINT AD

Print ads are VISUAL

A catchy headline

Art, Photos, Illustrations, Clip Art, Shapes, etc.

Design in an interesting, intriguing, attention getting manner

Use WHITE SPACE effectively

Use no more that THREE typefaces

Draws the reader’s eye to your LOGO

Use COLOR to grab the reader’s attention


Write for the BUSY EYE

Capture the attention of potential customers

Encourage them to remember what you want

them to do

Persuade them to actually do it

Print ads should have ONE message and ONE

message only

CALL OF ACTION


Keep your TARGET MARKET in mind

Ad message should focus on your CUSTOMERS’

NEEDS not YOUR OWN

Sales are effective because it is saving

customers money

Contests, free gifts, free food – think OUTSIDE

THE BOX

Study other people’s ads

EFFECTIVE ADS

AIDA: The Classic Formula for Effective Ads

ATTENTION: Grabs readers’ attention with headlines, type, white space and visuals.

INTEREST: Make the copy interesting and benefit-oriented.

DESIRE: Make sure the copy answers readers’ most basic question: “What’s in it for me?” People read ad copy to find out how your product or service benefits them.

ACTION: Urge your readers to act now – and make them do so.

EXAMPLE OF EFFECTIVE PRINT AD

EXAMPLE OF INEFFECTIVE PRINT AD

HOW TO FIND VALUE IN ADVERTISING

Return On Investment (ROI)

ROI=(Gain from Investment – Cost of Investment)

Cost of Investment

Example:

($20,000 profit - $2,000 advertising/year)

$2,000 advertising

ROI = 9 times

VALUES IN ADVERTISING

Take 5 advertising solutions

Travelhost, Accent Maps, KKTV, Echo Pages,

Independent, Gazette, Citadel Broadcasting

Radio, Westside Pioneer, Connect Colorado, 4

Military newspapers (Mountaineer, etc.)

GROUPING VALUES

Total for all FIVE Advertising solutions is

$40,000/year

Divide by 12 months = $3,333.33

Divide by 20 Businesses/Merchants in OCC =

$166.66 per month

BRANDING & VALUE SOLUTIONS

Both can be achieved through targeted

advertising for $166.66 per month for an entire

year.

Branded as a business in Old Colorado City.

Build name recognition with the other 19

participating businesses.

VALUE THROUGH BRANDING

Value and Branding through collaborative

efforts rather than advertising on your own.

Save money

Save time

Gain market share in this economy

Must work together as a unit rather than one

EXAMPLE OF GROUPING PAGE

THE NEXT STEP

What has worked for you?

Why did it work?

What is your demographic?

What is your advertising/marketing budget for

2009? How do you figure out a budget for

marketing/advertising?

Advertising-to-Sales Ratios

THE NEXT STEP

Budgeting Your Advertising

Common Mistakes:

1.Habit – What you have always done in the past

2.Looking in the cash register to see how much you

can afford today

THE NEXT STEP

Why a Formal Budget?

Firm control of your advertising investment

In-store selling tie-ins to build extra sales

Elimination of poorly times promotions

Better response rates on individual ads

Full use of cooperative ad allowances

Time saved in ad handling

THE NEXT STEP

How Much to Spend on Advertising and Promotion.

Know and understand your competition.

Analyze your performance.

Note the number of selling days (last year to this year).

Watch out for hot-selling items.

Seek out all vendor co-op opportunities.

Establish a clear traffic pattern that leads shoppers

past a variety of merchandise and makes it easy for

them to move through the store.

THE NEXT STEP

Rule of Thumb If 10 % of your sales are made in a given month, you should

budget 10 percent of your advertising in that month. In the example below, a typical jewelry store does 23.8 % of its sales in December. Therefore, it should allow $3,265 for December advertising.

Example

--------------------------------------------------------------------------------

$13,720 Annual advertising budget

X 0.238 10% of December sales

_______

$3,265 For December advertising budget

THE NEXT STEP

THE END…A NEW BEGINNING

Thank you for participating in the Marketing

101 Workshop.

Now go out there and market your business

with new enthusiasm.

marketing 101 powerpoint 2009

Documents

successful print ad

effective print ad

print ads

target market

effectively market

effective ads

insurance company

traffic accident