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If you fail, never give up because FAIL stands for First Attempt In Learning.
End is not the end. End stands for Effort Never Dies.
If you get no as an answer, remember that NO stands for Next Opportunity.
Be positive!
Steve ShaloskyBusiness Advisor with the Collin SBDC
Has been with the Collin SBDC since August 2016
Owned a business for over 5 years
Over 12 years of corporate marketing experience at Fortune 500 companies like IBM, Dell, Abbott Laboratories and Dial (Henkel). Specific expertise in US brand marketing strategy, retailer specific marketing strategy, and tactical development.
MBA, WP Carey School of Business, Arizona State University, Tempe, Arizona
Contact info: sshalosky@collin.edu
MARKETING STRATEGY AND TACTICS FOR SMALL
BUSINESSCollin Small Business Development Center
www.CollinSBDC.com
Collin College Courtyard Center
4800 Preston Park Blvd., Suite 114 Plano, TX 75093
972-985-3770The Collin SBDC is a partnership program of the U.S. Small Business Administration and Collin College.
Assumption before creating a marketing strategy
You are already in business.
You have already created a business strategy.
A business strategy includes the following:1. Mission Statement – one sentence that summarizes what you want to do2. Objectives – identify three organizational objectives3. Value proposition – for each objective, why do you stand out, what makes you
unique, why would someone choose my products over others4. Should have an elevator pitch – who am I and what do I do5. Establish financial goals
Example of a business strategy
Business Name H+ Sports
Mission Statement Encourage active lifestyles by offering ethically sourced nutritional products
Objectives Sell nutritional products. Be socially responsible.
Receive validation from the athletic community.
Financial Goals Increase Revenues by 10%
Increase margin by 50 basis points (0.5%)
Sell 20% more of the higher margin items (detail)
Value Proposition Scientifically proven to work Local community involvement
Certifications from ethical and eco boards.
Elevator Pitch H+ creates nutritional products to improve athletic performance.
Four Areas of Focus for successful business owners
DRIVE AWARENESS of your products, service, and business (Marketing)
Manage to profitability (Finance/Accounting)
Deliver on your promise (i.e. Management control and Quality Control)
Focus on the future (Innovation)
If you forget most everything else, remember this!
Create a MARKETING PLAN ANNUALLY!
SPEND money on marketing!
You MUST have a website and it MUST be mobile friendly
SPEND time thinking about the future of your business!
Need to pay bills, transfer money
Issues with extended family – problems and/or fun with Mom, Dad, grandparents, grandchildren, uncles, aunts, cousins, nephews, nieces
Issues with friends – problems and fun
Make MealsIssues with colleagues– problems and/or fun
WORK, WORK & MORE WORK
Volunteering –church, causes, clubs, alumni, kids, extracurricular
Kids extracurricular – drop off/pick up, games: sports, dance, cheerleading, music lessons, band, friends, social activitiesKid’s extracurricular 2: Extra practice with parents
Vacations – planning and enjoying
Illness/Health issues
Time with spouse
Coordination stress
Your or your spouse education issues
Balance the checkbookInvestment review
Car issues
Clean the houseMow the lawn & other yard work
Clean the pool and other pool care
Walk the dog Pet issues: Vet visits , injuries, health, play, pick up droppings
Exercise Grocery shopping
Clothes shopping
Reading for pleasure
Watch TV/Movies/videosHouse maintenance – water heater, roof, cable, TV, foundation, etc.
Laundry, lots of laundry
Garbage and Recycling
Gift buyingHolidays
Birthdays
Job searches
Home refinancing
Remodeling
KIDS – caring for: food, grooming, education, clothing, social, teaching, smart devices, toys, discipline, chores, activities, friends, school year prep, shopping
Watch Sports – college football, NFL, golf, college basketball, hockey, tennis, soccer, etc.
Dry cleaning
ATTENTION PLEASE!
THIS IS XYZ COMPANY WITH A MESSAGE FOR YOU!
Car maintenance
Budget review
I DON’T CARE– LEAVE ME ALONE!
Cell phone issues: Cracked screens, new carriers, new plans, data issues, OS updates, recharging
Annual benefits selections
Religious service
Put gas in the car
Business travel
Go through junk mail
Take phone calls
Find a place to eat and drive time
Read email
Update Facebook
Fix pictures
DrivingMusic listening
TextingHaircutNails done
Other grooming
Computer issues – virus, printer, OS upgrade, backups
Play sports
Put on makeup
What is marketing?
Official definition: The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives
My graduate marketing class textbook
Your product or service: The 4 P’s ( Your Marketing mix)
Price (determining the sales price that product or service)
Product (designing and defining the product or service)
Promotion (communication – creating awareness, reminding)
Place (where customers buy the product or service -- online, offline)
How do I drive awareness?
Through multiple impressions!
Impression An effect, feeling or image retained by a targeted consumer from an advertisement
Advertisement Any public notice designed to sell goods or publicize something
Impressions driven by tactics
• Traditional Advertising – Print, OOH, Radio, TV• Direct marketing • Electronic mail • Online – Social media, SEO, Advertising (Google Adwords,
Facebook), You Tube • Personal selling (telephone (telemarketing), face to face)• Public Relations (Publicity, events, lobbying, image management)• Other (quality control, word of mouth , business cards,
sponsorships, networking, customer facing processes, etc.)
Marketing plan
Marketing calendar
Niche/position
Name of company
Identity
Logo
Stationary
Outside signage
Inside signage
Theme
Business cards
Cause marketing
Phone demeanor
Toll free phone number
Free consultations
Free seminars/clinics or free estimates/appraisalsFree demos
Free samples
Giver versus taker stance
Fusion marketing
Hours of operation
Days o
f oper
atio
n
Win
dow
dis
play
Website home page
Flexibility
Word of Mouth
Community in
volvement
Barter
Club and association memberships
Partial payment/credit
Employee attire
Marketing on telephone hold
Past success stories
Service/customer blissFollow-up/lis
tening
The company owners and employees
Gifts
Cat
alog
Newsle
tter
Articles in publication
Competitive advantages
Ben
efits
list
Posters
Net
wor
king
Linked-in ad
Google ads
Facebook adsSocial m
edia posts
Past success storiesProduct/Service offerings
Customer contact time
How
staff says hello/good-bye
Public relations
Media contacts
Email contact
Nea
tnes
s
Referral plan
Guarantee
Telemarketing
Gift certificates
Brochures
Business location
Print AdvertisingTV/Radio Ads
Sales Training
Networking
Quality product/service
Upgrade options
Contests/Sweepstakes
You Tube videosDirect Mail
OOH Advertising
Special Events
Trade shows
Test
imon
ials
/Rev
iew
s
Sponsorships
Ease o
f doin
g busin
ess
What is the ultimate goal of an impression?
• A: Attention – grabs the attention of the consumer – standing apart from the clutter
• B: Brand – reinforces the name/brand of your product, service or company
• C: Connection – makes a connection with your consumer
How many Impressions does it take?
1980’s: 1 – Make consumer aware 2 – Arouse Interest in consumer 3 – Consumer takes action
By 2001: Up to 9 impressions to induce action By 2016 : 18 and growing impressions to induce action
Why growing? Volume of total impressions growing – digital and online growth -- messaging now very congested, consumers are overwhelmed with messages
Let’s make cookies from scratch……
Chocolate chip cookies!Please provide the recipe to make two dozen cookies!
Marketing Plan: Your roadmap
• Marketing plan is a must!
• It is a roadmap – It establishes your goals and directs you toward them.
• It is similar (condensed) to a business plan but for existing businesses
• Rule of thumb: • Start four months prior to beginning of fiscal year• Finish one month prior
Marketing plan: 1. Analysis of trends, usage and awareness
Analysis of the following (if applicable) Market/Industry TrendsConsumer TrendsUsageAwareness of your products, services or company
Learnings – what do you know?Implications – what does it mean?Action – what can you do about it?
Marketing plan: 2. Analysis of target consumer
• Understanding who your “consumer” is determines which tactics you choose.
• Who is your target customer? -- Demographics (Age, kids, gender, ethnicity, occupation, education, income level, sales volume, industries)-- Who are they? Where are they? How many of them are there? What
do they need? How can I reach this customer?
Marketing plan: Target consumer = Buyer Persona
Marketing plan: 3. SWOT Analysis
For you and your top competitors
• Strengths: What do you do well, what unique resources can you draw on?
• Weaknesses: What can you improve? Where do you have fewer resources than others?
• Opportunities: What trends or weaknesses of your competitors can you take advantage of?
• Threats: What trends could harm your business? What are your competitors doing that could impact your business? Look at governmental threats as well.
Marketing plan: 4. Categorize targets
• New potential customers
• Potential customers who you have already contacted
• Potential customers who have contacted you in the past
• Potential customers who you have qualified
• Customers
Marketing plan: 5. Marketing Tactics/Commo strategy (calendar)
• List all the activities that you are planning
Month of execution
Projected costs
Customer type
Goals (Drive awareness, increase sales, etc.)
How you plan to measure?
Marketing plan: Share and commit
• Involve your employees
• Ask for feedback
• Spread the enthusiasm
• Commit
Impressions and tactics
• The first mistake: Unrealistic expectations• No way to perfectly predict buying cycles• No magic bullet
Impressions and tactics
• The second mistake: They stop• And so will sales
Impressions and tactics
• Realistic expectations• Trial then gauge success or failure, but DO• Most tactics are equity building/awareness creating • Consumers may not yet be in the buying cycle
Tactic planning is a “trial and error” exercise
• Try to capture a response’s source (source codes, vary discounts/coupons)
• Don’t expect many responses – awareness generation
• There is no “magic bullet” -- even the biggest companies test!
• Most tactics will be equity building, driving awareness or reminding consumers…..
• Treat marketing spending like a tax
All talk about Social Media….
• Retail Top customer acquisition & retention platforms/tactics
Website
Politically incorrect commercials
https://www.youtube.com/watch?v=66mQz44pPY4
Marketing spending plans
Marketing Budget
Online Marketing Activities
30-35%65-70%
Traditional Marketing Activities
Online Advertising (Google Adwords, Facebook)
34%
Source: Forrester Research
Search Engine Optimization (SEO)
47%
Mobile and Other
13%6%Social media
Marketing Budget
• General rule: 5-7% of gross sales
• Start-ups higher: 10-30%+ of gross sales projections
What do companies spend on marketing?
• Companies spend on average 10.2% of annual revenue on marketing 1
• Companies with annual revenues of $25 million or less spent on average 11%on marketing 2
• B2B Product business: 10.6%• B2B Service business: 10.1%• B2C Product business: 16.3%• B2C Service business: 10.9%
• Marketing budgets are between 7-12% of total revenue 3
• B2C’s spend more on marketing compared to B2B’s• Smaller companies spend more on marketing as a % of TTL Revenue.
1- 2014 Gartner Research study, 2- 2014 CMO survey from AMA and Duke Univ., 3-2016 Annual CMO survey
Marketing works!
Online Marketing
Must have a website
• Website must be mobile friendly!-- 75% of internet users went online via a mobile device end of 2015
(GlobalWebIndex)-- 73% of people always have their mobile devices with them (Facebook)-- People spend on average 86 minutes/day using mobile web, compared to 36 minutes using desktop internet (Zenith Media consumption forecast)-- In North America, 72% of internet consumption is on a mobile device.-- In 2018, Google will penalize websites (ranking lower) if not mobile friendly
Mobile surges
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2007 2008 2010 2011 2012 2013 2014 2015
Number of Global Users (Millions)
Mobile Desktop
Source: Morgan Stanley Research
Search – how do people find me?
• Two types (Google):1. Paid (Google)• Position: Top and bottom of first page• Bid on words or series of words• Can be expensive
2. Organic/Natural/Earned• Position: Starts just below paid search• Depends on SEO (Search Engine Optimization)• Is time-consuming and may be costly
Paid
Display Ad: Paid
Organic
Google search:7 Paid
10 Organic
Organic
Organic
Paid
Search Engine Optimization (SEO)
• How does a search engine determine organic rank?Algorithm (web crawlers, spiders or software robots)
• What is an algorithm?Software code developed by Search enginesIt changes periodically throughout year
Google: 2014: 152015: 52016: 112017: 12
Search Engine Optimization (SEO)
• What is included in an algorithm?1. Back links (referral websites, directories)2. Meta data in Meta tags (text in HTML) and copy on website3. Relevant recent content (blogs, updates)4. Social media and news links (Facebook, Twitter, Linked-in)5. Advertising (Google Adwords, online)6. Trustworthiness (Yelp, testimonials, reviews)7. Mobile usability8. Website load speeds/errors of your website9. Security (SSL added to go from http to https)
If you aren’t on first or second page, you don’t exist.
• It is a myth that if you build it, they will come.• It is a myth that consumers don’t scroll, but…..
• 91% of searches don’t go past the first page
• Top 3 results: 58.4% - 62.7% (Page 1)• Results 4-10: 27.2% -32.8% (Page 1)• Results 11-20: 4.5%-14.4% (Mostly page 1)• Below 20: <1% (Pages 2-3+)
PPC
Organic
PPC vs. Organic: Budgeting
• If you aren’t on the first page for searches for your business then:
PPC
Organic
Page 1
Page 2
Page 3
Over time, SEO improves
Organic
PPC
“TO PAY OR NOT TO PAY FOR SEO: THAT IS THE QUESTION……
• If search is the primary way your prospective customers find you then you need to hire an SEO specialist.
• They can show you ways to help improve your SEO by showing you how to create quality backlinks (blog posts, reviews, articles, videos).
• They will optimize your site to improve the web crawlers’ ability to find you (Google changes its algorithm 5-15 times a year).
• They will recommend other strategies to improve your native rank (reviews, social media, speed, site improvements).
Web page design helpful hints
• Mobile friendly!!! 76% of consumers won’t use website if it isn’t mobile optimized. 1
• 1/3 white space, 1/3 pictures, 1/3 copy, KISS*, limit copy and images, balance your page2
• Avoid large animations and widgets, no background sound
• Look at competitors – copy essence (be mindful of IP laws)
1- AT&T Business Circle 2- Kasia Johnson, CEO, Merge Forward * - KISS= Keep it simple smarty
Funny advertisinghttps://www.youtube.com/watch?v=wOJNMNczZKU
“Fancy 4 star Motel”
“Phone ET for your home”“I pity the stool”
“I show up” “We guarantee fast service no matter how long it takes”
Social Media Marketing
Social Media
Social Media Usage
Social Media Marketing usage
Source: Simply Measured
Face
book
Inst
agra
m
Twitt
er
You
Tube
Link
ed in
Pint
eres
t
Goo
gle
plus
Snap
cha
t Wha
t’sA
pp(m
essa
ging
–VO
IP)
Redd
it(w
eb c
onte
nt ra
ting
, soc
ial n
ews
disc
ussi
on)
Tum
blr (
mic
robl
oggi
ng &
soc
ial n
etw
orki
ng)
Peris
cope
(vid
eo st
ream
ing)
Sina
Wei
bo (C
hine
se m
icro
blog
ging
)
Vine
(vid
eo h
ostin
g)
Flic
kr (i
mag
e an
d vi
deo
host
ing)
Soun
dclo
ud(m
usic
shar
ing)
Mee
rkat
(live
vid
eo st
ream
ing)
Social Media Spending
Source: Simply Measured
Social Media: Demographics
Social Media
• 5 step social media marketing plan
1. What are people saying about your business?-- Search Google & Twitter for your business name. (Google Alerts)
-- Are bloggers talking about you (Google Blog Search)
2. What platforms do your competitors use?
3. Create a policy -- what will you talk about? What do your clients want from you, who will handle it?
Source: Smallbizdaily
Social Media
• 5 step social media marketing plan (con’t)
4. Be consistent-- Can be very time consuming-- Schedule it (TweetDeck, Hootsuite, Buffer, Postcron)
-- Two parts Posting & Responding
5. Social Media IS MARKETING-- Make connections. Provide information. Dive traffic to your blog, website or business
Source: Smallbizdaily
Social Media
• Don’t try to conquer all social platforms at once
Start where your customers are
Tackle 1 or 2 then move to the next
Source: Smallbizdaily
Social Media takes time
Social Media ROI
• Measuring ROI most commonly cited challenge facing social media marketers 1
• Attributing social marketing spending to media to business goals is another challenge
• Proxy metrics (likes, comments, shares, retweets , views and brand lift) were traditional ways to measure, but many executives want to tie views to sales metrics
1 Source: Simply Measured survey of 1000 ad agencies worldwide
Social Media
• Best times to post --depends on industry, but in general:
7pm, Thursday
4pm, Thursday
8am, Wednesday
12am, Friday
Source: Trackmaven: (https://trackmaven.com/blog/best-times-to-post-social-media/)
6pm, FridayInstagram
Linked-in
Algorithm based on client engagement so, you want to post when users are most active
Social Media
• Resources for assisting with social media
Hootsuite www.hootsuite.com (manages messages across multiple social media)
99 Dollar Social www.99dollarsocial.com (finds content, creates custom posts)
Social oomph www.socialoomph.com (schedule updates, monitor activity, etc.)
Buffer, Postcron, TweetDeck *(schedule posts) (* twitter only)
InstaQuote application based (creates text pictures for )
Word Swag application based (creates text designs for )
Tumblr
Joke time
WHERE IS THE BEST PLACE TO HIDE A DEAD BODY?
Your Future…..
Focus on the future!
• Ideation is NECESSARY for your future –
--You must be thinking about what is next
-- How can I acquire new business
-- Come up with new products, services, customers
Focus on the future!
• Ideation is NECESSARY for your future –
-- Try setting aside time monthly – ideation sessionGet out of the office – go somewhere quiet, start in the AM before you get caught up in the minutia of the day
-- Fill an “Innovation pipeline”– ideas for new products, services or even new customers (high to low execution)
-- Create a stair step chart to map your future
Focus on the future!
Near term
Few ideas: highly refined
Many ideas: Loosely defined
Long term
Innovation pipeline Stair step chart
Execution timing
Execution Timing
New idea A: $x in revenue
New idea B: $x in revenue
New idea C: $x in revenue
6 months Year 1 Year 2
Several ideas: Somewhat defined
X
X +A+B+C
Reve
nue
X=Revenue
Focus on the future!
• What do the following large and successful brands have in common?
For more information or additional education in Marketing
• For class options, please go to the Collin College Continuing Education online career skills training catalog: www.collin.edu/ce/
• To register for a class, please call 972-985-3711 or http://cougarweb.collin.edu
Advice and Questions
“If you fail to plan, you plan to fail!”
Benjamin Franklin
“Imitation is the sincerest form of flattery”
Unknown, but it’s old
“Marketing is a NEVER ending process. You should always be marketing! In up or down economies….”
Jay Conrad Levin, Marketing and Ad guru
The answer……
Ingredients: 1 cup butter, softened (2 sticks)1 cup white sugar1 cup packed brown sugar2 eggs1 tsp vanilla extract3 cups all-purpose flour1 tsp baking soda2 tsp hot water½ tsp salt2 cups semisweet chocolate chips
Directions:1. Preheat oven to 350 degrees F (175 degrees C).
2. Cream together the butter, white sugar, and brown sugar until smooth. Beat in the eggs one at a time, then stir in the vanilla. Dissolve baking soda in hot water. Add to batter along with salt. Stir in flour, chocolate chips, and nuts. Drop large spoonfuls onto ungreased pans.
3. Bake for about 10 minutes in the preheated oven, or until edges are nicely browned.
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