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Notes for the Batesville, AR Next Level Business Boot Camp class to download. On night 2 discussed market research assistance available to small businesses, A local lender discussed cash flow and began discussions on small business marketing tips in this presentation. The program is conducted by the Arkansas State University Small Business and Technology Development Center to small businesses in the North-central Arkansas area. Sponsored by Batesville Area Chamber of Commerce, Independence County Economic Development, Inc., Citizens Bank, First Community Bank, Liberty Bank of Arkansas & Merchant and Planters Bank
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CUTTING EDGE MARKETING
No-Cost & Low-Cost Marketing Tactics for the 21st Century!
Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and
Technology Development Center
20TH VS 21ST CENTURY MARKETING
20TH- CONVENTIONAL MARKETING 21ST CUTTING EDGE MARKETING
MUST invest MONEY
Geared to BIG Business Sales Focused Diversification Marketing is OVER after
the sale Spirit of COMPETITION
INVEST time, energy, imagination & information
Geared to Small Business PROFIT Focused Maintain Focus Engaging in FERVENT
Follow up Spirit of Cooperation -
FUSION
Marketing is like flossing your teeth, if you don’t do it everyday you will have pain and agony down the road.
FIRST WHAT IS MARKETING?
Businesses have only two functions:
INNOVATION MARKETING
The ART of getting people to change their minds
THE TRUTH MADE FASCINATING
Your Chance to help your customers SUCCEED BUILD LASTING RELATIONSHIPS MARKETING IS MOTIVATION!!!!!!
FUNDAMENTALS HAVE NOT CHANGED Break “My World” into Market
Segments KNOW the RIGHT Target Market(s) KNOW the RIGHT Communication
Channel(s) KNOW Target NEEDS and WANTS CRAFT a COMPELLING MESSAGE KNOW how to ANALYZE results KNOW good TIME Management
THE STORY
YOU HAVE A GREAT STORY TO TELL!
What was your FAVORITE Fiction Story?
“YOU” MARKETING NOT “ME” MARKETING
Cutting Edge Marketers are: Customer Oriented NOT Self Focused We KNOW People Care About
themselves (not you) FOCUS ON GIVING NOT TAKING
Cutting Edge Marketers Sell STEAK not SIZZLE
WII-FM?
AGGRESSIVE LISTENINGQUALITYVALUE
WHAT GETS ATTENTION?
SUBCONSCIOUS FOR MEN
IS IT “SEXY?”CAN I EAT IT?WILL IT KILL ME?
WHAT GETS ATTENTION?
EQUAL TIMEIS IT “SEXY?”CAN I EAT IT?WILL IT KILL ME?
BENEFITS NOT FEATURES
What does a 52 Chevy and Dinah Shore have to do with Cutting Edge 21st Century Marketing? You Tell Me!
OR THIS?
Why This Worked• Humor• Benefit not
feature• Call to action• Cross media
channels
REALITY
4% Customers
4% ARE INTERESTED
92% DON’T CARE!
Your
Business
4% CUSTOMERS
68% of Business is LOST due to Customers being Ignored AFTER the Sale..no follow up
Loyal Customers:
More TransactionsBuy more Refer
CONCENTRATE OF 4%
WORK to Maintain Customer Contact Develop systematic follow up plan MOST DEADLY ENEMY: Apathy After the Sale Example of Follow up:
1 Week E-mail thanking for purchase 1 month Letter or CALL about satisfaction 3 Month recommend connecting with first
purchase 6 Month Offer something new 1 Year: Customer Anniversary Card
EXERCISE
List Features for Your Business
NOW come up with BENEFITS of doing business with YOU.
EXERCISE
What are your competitive advantages?
EXERCISE
What are your target markets
EXERCISE
What are the benefits of doing business with you?
TRADITIONAL MARKETING TECHNIQUES
Advertising: Newspapers Magazines Television Radio Direct Mail Telemarketing Trade Shows
Challenges Can be Costly Repetition KEY
GOLDEN RULE:It will take an average of 27 TOUCHES for your advertisement to be noticed by consumers
CHALLENGE TODAY
SO MUCH NOISE
USING TECHNOLOGY
Avoid Techno-phobia
Avoid Techno-Obsession
CUTTING EDGE MARKETERS
TODAY WE FIND CUSTOMERS
ON-LINE MARKETING
Your Customers Are Searching For You
CHANNELS
WHY CUSTOMERS SEARCH ON LINE
83% Consumers use Search Engines for specific brands and products
80% Search for specific product or brand before buying ON-LINE
78% do Info search queries after seeing advertisement or brand elsewhere
76% Search about specific brands or products before purchasing OFF-LINE
78% Search to find BEST PRICES on product 74% Search to find WHERE they can purchase
EIGHT ELEMENTS OF A SUCCESSFUL WEBSITE
1. Planning – Who do you want your website to do?
2. Content – What do you want it to say?3. Design – Surfers stay or bail within three
seconds4. Involvement – Make your website interactive5. Production – Make it pleasing to the surfer6. Follow up – Send emails and surveys7. Promotion – Run special promotions8. Maintenance – Constantly improve your
website.
USING EMAIL
Only Email Those Who Want to Hear From You
Personalize the Email
Use Email Signatures
Auto-Responders
Keep Emails Brief
Consider Customer Preferences
E-MAIL MARKETING
SOCIAL MEDIA
Are you looking into social media as a marketing tool for your small business?
You must have a plan.
Offers exceptional, low cost marketing opportunities for small business
Over 1.2 BILLION users
Facebook offers a very powerful platform on which to build a presence
You should get started right away
You should secure your company’s username However, if you reserve your company name
for your personal account, you won’t be able to use it for your Business Fan Page.
Search for your competitors and evaluate their Facebook presence.
What types of Pages have they built? How many fans or “friends” do they have? Look at their posts, photos and/or videos to
understand how they’re using Facebook
Has grown tremendously over the past year
For some small businesses, it offers an incredible marketing platform
You should sign up today and reserve an account in the name of your business
You don’t want your competitors to register you business name
A business-oriented social network for professionals
Nearly 50 million users from over 200 countries
You’ll want to at least reserve you business name
. . . or your personal name
You might also look up you customers and connect with them
You should consider whether simple videos can help your marketing efforts
Does your company already have a promotional video that you could post on YouTube?
or example, if you’re already posting videos on other SM, you can upload them to YouTube to reach a broader audience.
Lets look at a video or two . . .
CROSS CHANNELS
Social and Traditional are Combined for SYNERGY
Posting WHERE your potential Customers are
Understand ‘NEW RULES” for Social Media Marketing
SOCIAL MEDIA is NOT easy or FAST.
BUSINESS CARD ADVERTISING
Make SURE:1.Website2.Faceboo
k3.Twitter4.Blog 5.E-mail6.Other
info
LOW COST MARKETING TECHNIQUES
Non-Media This is the best way to build relationships
with your customers. This technique will help you to earn their trust and make them feel like you care.
Examples: Pricing, name, logo, marketing to ethnic groups, community involvement, word or mouth, and customer research.
ELEVATOR PITCH
Should Tell a Story Should Amaze Target Customer No more than 30 seconds Make it EXCITING but Natural
“I Am A Wizard….”
ESTABLISH YOURSELF AS AN EXPERT
Writing Articles
Speaking Engagements
NETWORKING SECRETS
Don’t Just Join – Be Involved
Choose Membership Carefully
Develop an Elevator Pitch
Focus on Them Not You
CALL TO ACTION
What is a Call To Action SUBSCRIBE BUY NOW GO TO OUR WEBSITE DOWNLOAD THIS FILE
MAKE IT OBVIOUS
18 CUTTING EDGE SECRETS
1. COMMITMENT2. INVESTMENT3. CONSISTENCY4. CONFIDENCE5. PATIENCE6. ASSORTMENT7. CONVENIENCE8. SUBSEQUENT9. AMAZEMENT
10. MEASUREMENT11. INVOLVEMENT12. DEPENDENT13. ARMAMENT14. CONSENT15. CONTENT16. AUGMENT17. IMPLEMENT18. CONGRUENT
HOW CUTTING EDGE MARKETERS WIN
1. Research the Marketplace2. Write a Benefits List3. Select Proper Marketing Weapons4. Create Your Marketing Plan5. Create a Marketing Calendar6. Look into Fusion Marketing Partners
CUTTING EDGE MARKETING WEAPONS Telephone Online Yellow pages or Get Listed
Locally Community Websites Personalized E-Mail or CRM software Your Website Search Engine Rankings Blogs
MORE CUTTING EDGE MARKETING WEAPONS
E-Bay and Auction Sites Craigslist Social Media Becoming an EXPERT CONVEY SENSE OF URGENCY/ LIMITED
TIME SPECIFIC CALLS TO ACTION FOREVER GUARANTEE
ACTION STEPS Understand WHY Customers Should Do
Business with You Develop Your Follow Up Process
◦ Start with Your Current Customers Build a Customer Database You Can Use Look for Ways to Create Added Value Evaluate Your Attention to Detail
◦ Identify Problems and Opportunities for Improvement◦ Fix Them
Use and Refine Your Elevator Pitch Build Consent from New Prospects Identify Ways to Make Technology Work for You
7 SENTENCE MARKETING PLAN
SPECIFIC PURPOSE of my Marketing is to:….. COMPETITIVE Advantage to STRESS is:………. TARGET AUDIENCE is: ………………………………. Marketing Weapons to use include:…………… Our Niche in the market is:………………………… Our IDENTITY is:………………………………………… Our Marketing budget will be ___% of projected
gross sales
CUTTING EDGE MARKETERS WIN BY:
Research the marketplace. Write a benefits list. Select the proper marketing weapons. Create your marketing plan. Create a guerilla marketing calendar. Make arrangements with fusion marketing
partners.
POSITIONING
What product or service will you offer? List the features that are different or
better than your competitor’s. What are the benefits of this product?
Your benefits should be better than your competition, if not, how will you compel consumers to switch?
CONTACT THE ASU SBTDC
E-Mail [email protected] or [email protected]
Website: http://www.astate.edu/a/sbtdc/ ASU Small business Blog
http://www.asbtdc-asu.com Facebook http://www.facebook.com/asu.sbtdc Facebook http://www.facebook.com/herb.lawrence Twitter: http://www.twitter.com/asbtdc_asu LinkedIn http://www.linkedin.com/in/asusbtdc OR CALL ME: (870) 972-3517 or cell 897-5125