marketing for growth workshop
DESCRIPTION
Resources from Business Victoria's workshop on marketing your business more effectively.TRANSCRIPT
Welcome
Introduction
What do you hope to learn in the next 3½ hours?
Burning issues?
Opportunity to network
Have fun!
Setting your business & marketing goals
Knowing your customers better
Improving your offer – things that count
Measuring your growth and success
Main Topics
Business Goals & Marketing Goals
What are your business goals?
Possible Business & Marketing Goals
Improve sales by % or $
Increase customer numbers
Increase profitability
Expand services
Expand to a new market/area
ACTIVITY
Write down your business goals Page 2
Matching Business Growth with Marketing Success – FIVE Areas of SUCCESS
Market Research
Customer Segmentation
Meeting Customer Needs
Branding & Communication
Monitoring & Evaluation
Page 3
1. What is Marketing Research?
The process of gathering and analysing information to help identify and define marketing opportunities and problems,
as well as generate sales
Pamela Wakefield-Semmens
What Sort of Research Should I Do?
Demand for new product and service
Preference & needs of customers
Size of market or pool of potential customers
Competitor research
You can use this information to develop your SWOT analysis (Page 7)
Your Research Needs
ACTIVITY
What information will you need to meet your business objectives?
How are you going to find this information?
Page 7
2. Segmenting Your Customers
What are the different groups of customers that you have?
Which customers are your most profitable?
Who are your dream, cream & bread & butter customers?
Is there a group of potential customers missing?
Customer Segments
ACTIVITY
Complete the exercise on Customer Segments & Profitability
Complete the worksheet on Cream, Dream & Bread and Butter Referrals
Pages 10-11
3. Matching to Customers
Product – how can you improve for a better match?
Price – what is important to each customer group?
Place – are there new ways you can better service customers e.g. online sales?
Promotion – what methods suit each group?
How can you better match what you do to meet customer needs?
Getting a Good Match
PRODUCTPRICEPLACEPROMOTION
to better match your target customers?
ACTIVITY
Review your marketing mix. How can you improve:
Page 12
4. What is a Brand?
A brand is more than just a logo, advertising slogan, product or service. It
encompasses how you manage your customer relationships and how you are
perceived as a business
Your Brand
ACTIVITY
Quick Brand Check
Review your Image, Packaging, Presentation
Pages 16-18
5. Monitoring and Evaluation
Monitoring Your Marketing Activities
Evaluate Effectiveness and
Impact on Business
Evaluation
Financial Performance Measures
Sales Performance Measures
Specific Marketing Performance Measures
Business Performance Measures
Marketing Budget
Page 21
Monitoring & Evaluation
ACTIVITY
How will your business look if your marketing is successful?
How will you monitor your marketing activities?
What measurements are you going to use to evaluate performance?
Pages 19-20
Planning after the Workshop
If you would like to formalise your marketing and business plan, you can
use the template in the back of the workbook to document your ideas and
strategies more completely.
Small Business Mentoring Service
Business mentors help you to identify a clear direction for you and your business.Business mentors can also advise you on how to:
conduct market researchprice and/or cost your products or servicesdevelop an effective marketing strategyuse other business management tools
To arrange a session with a business mentor go to:
www.sbms.org.au
Discussion and Questions
Thank you for attending
Check outbusiness.vic.gov.au/workshops
for more workshop information