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Here is my Homes Publishing Renovators Roundtable hosted by Jim Caruk of Caruk Group. A great session filled with Leaders representing the Contracting market from across Canada, discussing ways to elevate the industry and create positive change. Here are 5 seeds (ways of thinking) that if planted and nurtured can create a sustainable business model.
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External
Branding
Internal
Branding
Their Stories Our Story
Our Story is made stronger, and realizable through the hard effort, passion and energy of our people and partners. We…
Connect. Build. Inspire.
5 Ways To Seed Your 5 Ways To Seed Your Business For Organic Business For Organic GrowthGrowth
Suresh ParmachandSuresh ParmachandDirector of MarketingDirector of Marketing
Uponor LtdUponor Ltd@mktngjnky
Market s
Brain Drain - Today
18-25 26-37 38-49 50-60 61-70 71+
16 561 000Age Distribution3% 18% 24% 45% 11%
Brain Drain – 10 years
18-25 26-37 38-49 50-60 61-70 71+
14 739 292Age Distribution2% 2% 18% 23% 44% 11%
Brain Drain – 15 years
18-25 26-37 38-49 50-60 61-70 71+
11 261 480
2% 2% 10% 21% 33% 32%
Age Distribution
Search and Search and Social Killed Social Killed
the the SalesmanSalesman
Acces sThe access to information that individuals have is unprecedented today than any other time in human history
source: stats Canada source: Oracle retail study
84%CanadiansConnected
Staycation PhenomenaStaycation Phenomena
Nest i n gIndividuals are spending time making their houses homes through beautification projects
source: Globalnews, TD Economics
• Two-thirds of Canadians say gas prices affect their summer plans
• Declining loonie impacts decision making
• Summer travel is down 27%
• Residential investments as a percentage of households moved from 25% to 40% currently projected to ~3-5% increase for 2015 ($45 BN market in CDA)
The Rise OfThe Rise OfDo-If-For-Me ServiceDo-If-For-Me Service
Con ve n i e n c eThe new consumer market needs services that eliminate the non-value added routines many were use to.
source: Globalnews, TD Economics
• Gen Y and Millennials have grown up with different development traits
• Retail sales have stagnated while renovation wholesalers have seen an increase in sales of ~3-5%
• Aging demographic want to spend longer time in homes and represent ~$2.2 BN in spending over next 2 years
Patience Is Not A VirtuePatience Is Not A Virtue
9/10 US Consumers say they would pay more for superior Customer experience
78% of customers have bailed on an intended transaction because of a poor experience
86%In 2011, 86% of consumers quit doing business with a company due to a poor transaction or service experience (vs. 59% in 2007)
80%Of Customer Service related tweets on Twitter are negative or critical of the brand in question, a large majority of customers expect a reply in an hour.
Social Saved the Social Saved the Restaurant BrandRestaurant Brand
Resp o n s i v e n e s sThe new requirements that consumers place on brands is nothing short of instant
A abnormal experience at establishment. Tweeted disappointment.
< 2hrsResponse from Biermarkt via twitter. Request for my email address.
< 12hrsProvided email address, and a response to my email account was provided with a request for details on experience.
< 24 hrsAfter explaining experience the location manager contacted me with a request to be his guest.
A poor experience was made ecstatic by organization trying to understand needs and making good on their experience.
The The WatercoolerWatercoolerDiariesDiaries
1
St oryt e l l i n gThe tales that are told are what resonate with individuals and live far beyond the moment they are recited
The Watercooler The Watercooler DiariesDiaries
Stories have been the way humans have transferred knowledge and experience for millennia.
Stories provide a means of delivering our unique message, experience and value.
Stories allow our Customers to create an emotional connection to ourselves and our organizations.
Stories are more easily accepted by Customers
Stories allow your call to action to be realized
Determine CustomerDetermine Customer
Website
Product
PrintAd
Support Services
Event
PrintAd
Website
Event
Product
SupportServices
Path I
Path II
Understand Their Understand Their ExperienceExperience
Create CatalystsCreate Catalysts
Drive ConsistencyDrive Consistency
Moments In Time
Uncover StoriesUncover Stories
LearnLearn JapaneseJapanese
2
Unders t a n d i n gThe trait that leads to success is ensuring you take the time to listen to your Customers needs, then consistently delivering on them
How To How To ListenListen
D
AEyes – To see with wide open (Be observant)
BUndivided Attention – To see with wide open (Be attentive)
C Heart – To feel (Be empathetic)
D Ears – To hear (Be attentive)
E Mind – To think (Be mindful)
A
E
B
C
Listening
3
Lifecycle Lifecycle ManagementManagement
ABC ABC
ContractingContracting
est. 1945est. 1945
I n v e s t i g a t eCreating a sustainable business requires looking at the business through a different longer-term lens
Customer Catching
Companies spend too much time here
Customer Keeping
Companies do not spendenough time here
Target Prospect
Prospect
Customer
Client
Supporter
Advocate
Partner
Ladder of Customer LoyaltyLadder of Customer Loyalty
Consistent ExperienceConsistent Experience
Business
Experience
Randomized Approach Systematic Approach
HerdingIntimacy
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the Lifecycle
Business
Evolution
Legacy ManagementLegacy Management
Generation I
Business
Start-up
Business
Evolution
Business
Start-up
Business
Sell-off
Business
Evolution
Market
Diversification
Legacy
Business
Freshman Junior Senior Teacher
Freshman Junior Senior Teacher
Senior Teacher
Generation II
Generation III
Neo
Business
Time
Facil i tat ing ChangeFacil i tat ing Change
www.mybizon.com
A network of current and potential business owners looking to buy or sell businesses:
• Educated Community - Connect and get educated. Whether Buyer or Seller learn the most optimal ways to manage the transaction.
• Data-Based Decisions - Robust tools that assist with both the buying and selling processes.
• Stress Free - A resource of Industry professionals that assist with the process or manage it for you.
BizON - Business Matchmaking Made EasyBizON - Business Matchmaking Made Easy
source: mackcollier.com, Think Like A Rockstar
Harnessing The Opinion Harnessing The Opinion LeadersLeaders
Market A Market B Market C Market D Market E Market F
Pareto ReviewPareto Review
Vital Few
Market A Market B Market C Market D Market E Market F
80/20 Rule80/20 Rule
Trivial Many
Market A Market B Market C Market D Market E Market F
20/80Rule20/80Rule
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $500 000
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $510 000
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $518 000
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $520 000
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $540 000
Intro
duct
ion
Gro
wth
Mat
urity
Dec
line
Dev
elop
men
t
Sale
s R
even
ue
0+
Understanding the LifecycleUnderstanding the LifecycleLife Time Value: $560 000
Opportunity: Leverage your offering
Strategic Partnerships
Strategic Partnerships
SuppliersSuppliers
DistributorsDistributors
CustomersCustomers
CompetitorsCompetitors
Strategic PartnershipsStrategic Partnerships
Opportunity: Leverage your offering
Leveraging Your ValueLeveraging Your Value
The Social The Social NetworkNetwork
4
49% 51%
Smartphone Audience
72%1313%%1313%%1313%%1313%% 2121%%2121%%
5252%%5252%%
Social @ PlaySocial @ Play
99%%99%%44%%44%% 1111%%1111%%
7676%%7676%%
Social @ WorkSocial @ Work
22%%22%%
1919%%1919%%22%%22%%
3535%%3535%%4343%%4343%%
source: CMPX survey 2014
The Social LandscapeThe Social Landscape
The Social NetworkThe Social Network
source: webfuel.ca, ipsos reid interactive report
Majority of online Canadians now use online social networking sites, with a large portion doing so daily:
@ 62% have ever visited or browsed an online social network, up from 51% in 2010.
@ 30% visit site at least once a day, up from 19% in 2010.
@ 41% describe themselves as communicating more with people online than offline.
@ 31% consider themselves active users, posting and replying to others’ posts.
@ Online Canadians have an average of 130 “friends” on their online profiles, up from 123 in 2010.
@ 50% of online Canadians with a social networking profile have been using social networks for at least three years.
The Social NetworkThe Social Network
Engagement requires being genuinely involved in conversations with your audience
Rel a t i o n sh i p
200 million users worldwide, 7 million are Canadian which represents the 5th largest market in the world. Users average income is ~$75k, most popular industries are Finance and manufacturing. LinkedIn is the best social networking site for lead generation. Most gained users of platforms
source: webfuel.ca, ipsos reid interactive report, huffington post, social bakers
500 million users worldwide. Second most popular social media site in Canada. .
86% of Canadians have a Facebook profile, down from 90% in 2010, signifying near market saturation. Still the most popular site among Canadians.
Second largest search engine in the world.Canadians are highest viewers of video in the world with an avg of 300 views per month. Top sites (Justin Beiber, VanossGaming and Just for Gags)
Identify Key IndicatorsIdentify Key Indicators
Social PlatformsSocial Platforms
Get NoticedGet Noticed
www.yext.com www.neustarlocaleze.biz
1) Advertise but don’t ask for reviews
2) Stay in constant contact with customers
3) Schedule same day service
4) Explain everything to establish trust
5) Diagnose failures over the phone when possible
6) Clean up after yourself
7) Deliver above and beyond customer expectations
Get NoticedGet Noticed
ReputationReputation ManagementManagement
Easy as 1-2-3:•1. Compose an email including your press release text and multimedia assets. Send it to [email protected].
•2. We'll compile your content, build your Tiny Pitch, and send it right back to you in a matter of seconds.
•3. Open your Tiny Pitch™ and share it with your contacts and social networks. Embed it on your website or in a blog post
The Honeycomb The Honeycomb EffectEffect
5
Strategic success requires being consistent with all tactics
I n t egra te d
The Honeycomb Effect:The Honeycomb Effect:Why?Why?
It allows businesses to leverage the inherent talent that exists within the organization.
Because employees are engaged and part of the initiatives they become ambassadors of the brand and effective storytellers.
Business owners need to show a return on all their investments and marketing is no exception, by integrating all elements you optimize investment dollars.
By mapping Customers activity cycles and aligning tactics and messaging along cycle we ensure engagement and value-enabled solutions.
Most businesses don’t have a large budget to create different messaging for each target audience, by creating a consistent message all activities are cohesive.
Customer Activity CycleCustomer Activity Cycle(Completing Glauben Machen) (Completing Glauben Machen)
Step 1
Step 4
Inspirat ion & Ch oice Se lectionCu
stom
er R
elat
ions
hip
Step 2
Step 3
Step 5
Step 6 Solution 1
Solution 2
Solution 3
Solution 4
Enabling CustomersEnabling Customers
ABC Inc.
Builder Program
Awareness
Engagement
Conversion
Advocacy
Feature Product
Media
Case Studies
PR Plan
Tradeshows
The Honeycomb EffectThe Honeycomb Effect
Integrated Integrated ExamplesExamples
Integrated Integrated ExamplesExamples
Nurturing Your FutureNurturing Your Future1 The Watercooler Diaries
2 Learn Japanese
3 Lifecycle Management
4 The Social Network
5 Honeycomb Effect
@mktngjnky
Linkedin.com/marketingjunky
marketingjunky.wordpress.com
Suresh Parmachand
5 Ways To Seed 5 Ways To Seed Your Business For Your Business For
Organic GrowthOrganic Growth#HomesRenovatorRoundtable