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CUTTING EDGE MARKETING No-Cost & Low-Cost Marketing Tactics for the 21 st Century! Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center

Cutting edge boot camp

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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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Page 1: Cutting edge boot camp

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

Page 2: Cutting edge boot camp

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

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Marketing is like flossing your teeth, if you don’t do it everyday you will have pain and agony down the road.

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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!!!!!!

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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

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THE STORY

YOU HAVE A GREAT STORY TO TELL!

What was your FAVORITE Fiction Story?

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“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

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WII-FM?

AGGRESSIVE LISTENINGQUALITYVALUE

Page 9: Cutting edge boot camp

WHAT GETS ATTENTION?

SUBCONSCIOUS FOR MEN

IS IT “SEXY?”CAN I EAT IT?WILL IT KILL ME?

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WHAT GETS ATTENTION?

EQUAL TIMEIS IT “SEXY?”CAN I EAT IT?WILL IT KILL ME?

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BENEFITS NOT FEATURES

What does a 52 Chevy and Dinah Shore have to do with Cutting Edge 21st Century Marketing? You Tell Me!

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OR THIS?

Why This Worked• Humor• Benefit not

feature• Call to action• Cross media

channels

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REALITY

4% Customers

4% ARE INTERESTED

92% DON’T CARE!

Your

Business

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4% CUSTOMERS

68% of Business is LOST due to Customers being Ignored AFTER the Sale..no follow up

Loyal Customers:

More TransactionsBuy more Refer

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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

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EXERCISE

List Features for Your Business

NOW come up with BENEFITS of doing business with YOU.

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EXERCISE

What are your competitive advantages?

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EXERCISE

What are your target markets

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EXERCISE

What are the benefits of doing business with you?

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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

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CHALLENGE TODAY

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SO MUCH NOISE

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USING TECHNOLOGY

Avoid Techno-phobia

Avoid Techno-Obsession

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CUTTING EDGE MARKETERS

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TODAY WE FIND CUSTOMERS

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ON-LINE MARKETING

Your Customers Are Searching For You

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CHANNELS

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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

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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.

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BLOGGING

Companies that blog convert 40% more visitors to customers

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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

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E-MAIL MARKETING

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SOCIAL MEDIA

Are you looking into social media as a marketing tool for your small business?

You must have a plan.

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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

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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

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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

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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 . . .

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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.

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BUSINESS CARD ADVERTISING

Make SURE:1.Website2.Faceboo

k3.Twitter4.Blog 5.E-mail6.Other

info

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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.

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ELEVATOR PITCH

Should Tell a Story Should Amaze Target Customer No more than 30 seconds Make it EXCITING but Natural

“I Am A Wizard….”

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ESTABLISH YOURSELF AS AN EXPERT

Writing Articles

Speaking Engagements

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NETWORKING SECRETS

Don’t Just Join – Be Involved

Choose Membership Carefully

Develop an Elevator Pitch

Focus on Them Not You

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CALL TO ACTION

What is a Call To Action SUBSCRIBE BUY NOW GO TO OUR WEBSITE DOWNLOAD THIS FILE

MAKE IT OBVIOUS

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18 CUTTING EDGE SECRETS

1. COMMITMENT2. INVESTMENT3. CONSISTENCY4. CONFIDENCE5. PATIENCE6. ASSORTMENT7. CONVENIENCE8. SUBSEQUENT9. AMAZEMENT

10. MEASUREMENT11. INVOLVEMENT12. DEPENDENT13. ARMAMENT14. CONSENT15. CONTENT16. AUGMENT17. IMPLEMENT18. CONGRUENT

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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

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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

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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

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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

Page 52: Cutting edge boot camp

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

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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.

Page 54: Cutting edge boot camp

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?

Page 55: Cutting edge boot camp

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