CREATE A MARKETING PLAN FOR THE 21ST CENTURYTHAT WORKS!

7 Sentence Marketing Plan to Stay on TRACK

Presented by: Herb Lawrence, Center Director Arkansas State University Small Business and

Technology Development Center

THE ASU SBTDC

• Training• Consulting• Financial Analysis• Market Research• Loan Package Development• Search Engine Optimization

© ASBTDC 2011 All Rights Reserved

IN YOUR PACKETS

• Attendee Record• Copy of Presentation• Handouts• Evaluation Form• REQUEST FOR COUNSELING FORM

© ASBTDC 2011 All Rights Reserved

GETTING ACQUAINTED

• Please introduce yourself• Please tell the group about your

business• Products/services your business

provides• One expectation for today’s seminar

© ASBTDC 2011 All Rights Reserved

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

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!!!!!!

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

WHAT ARE YOUR GREATEST CHALLENGES?

WHAT ARE YOUR GREATEST CHALLENGES?

VALUE PROPOSITION

2-3 Sentences that DEFINES you, your product and services…. THAT

DIFFERENTIATES YOU from the COMPETITION..

In a way that MATTERS to your TARGET MARKET

More on creating a value proposition AND real life examples at our Storify article Stand Out from the Herd with a Value Proposition.

FUNDAMENTALS 0F GOOD MARKETING 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?

Research

Plan

Create

Review

MARKETING CYCLE

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RESEARCH

• SWOT Analysis• Benefits• Competitive Advantage• Target Markets

© ASBTDC 2011 All Rights Reserved

SWOT ANALYSIS

Strengths Weaknesses

Opportunities Threats

© ASBTDC 2011 All Rights Reserved

Internal

External

Internal

External

Market Intelligence Services for Arkansas Businesses

Herb Lawrence, ASU Center Director

Small Business and Technology Development Center

BENEFITS CONNECT NOT FEATURES

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

SBTDC FEATURES AND BENEFITS

FEATURES BENEFITS

Professional Consulting FREE Confidential Variety of Areas

Cutting Edge Market Research

Low-Cost Training Workshops

Improve Sales/Revenues

Reduce Expenses Make More Money Have a Better Life

YOUR FEATURES AND BENEFITS

FEATURES BENEFITS

1.

2.

3.

4.

5.

1.

2.

3.

4.

5.

COMPETITIVE ADVANTAGE

• Many of your competitors offer the same benefits as you.

• However, you have benefits that are unique to your business.

• These are your competitive advantages.

© ASBTDC 2011 All Rights Reserved

TARGET MARKETS

• “Everyone” is not a target market• People with the desire and ability to

buy your product/service• Consumer vs. Organizations

© ASBTDC 2011 All Rights Reserved

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

What are your competitive advantages?

EXERCISE

What are your target markets

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

LET’S TAKE A BREAK!

FINDING THE CHANNELS

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

CHANNELS

SO MUCH NOISE

BACK TO REALITY….

4% Are or have been Customers

4% ARE INTERESTED in WHAT YOU SELL

92% DON’T CARE!

Your

Business

TODAY CUSTOMERS FIND US… IF WE HAVE PUT OUT THE BREAD CRUMBS

ON-LINE MARKETING

Your Customers Are Searching For You90% of consumers SEARCH OnlineTo find information about businesses.BUT only 52% of Small Businesses have a website!

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

STAYING IN TOUCH WITH CUSTOMERS

FEEDING THE CASH REGISTER

Email

Local Search Web Site

Off-Line

BLOG

GETTING THE WORD OUT

Where we create content to FEED our Blog

Create Content in a Form Customers Want

Post it on a site that search engines can index

Spread the word on the RIGHT Channels

CREATING AN ONLINE PLAN

STEPS Pre-planning Listen to the conversations Create TARGET profile Set Specific Goals Join Conversation Measure Return

STEP 1 PREPLANNINGWHAT ARE YOUR CURRENT CHANNELS?

E-Mail?

Websites

Direct Mail

Newsletters

STEP 2 LISTEN TO THE CONVERSATION

Secure your brand on social platforms Blogs, twitter,

Facebook, LinkedIn Usernames unique Try to be consistent

Set up monitoring platforms Google Alerts SocialMention.com Technorati Twitter Search

STEP 3 CREATE TARGET PROFILE

Find KEY attributes by Listening

Chart out their presence in social media

Market Segmentation Demographic Geographic Psychographic Behavioristic

Continue to gather customer information along the way

Pinterest 2012 Stats and Figures…Plus How to Leverage PinterestWe love to Pin Interesting information at the ASU SBTDC Boards

STEP 4 SET SPECIFIC GOALS

Brand Awareness/Advocacy Increase Traffic/Opt-Ins Business Partnerships Search Engine Results Generate Leads Reduce CRM Costs Increase Revenues

STEP 5 – JOIN THE CONVERSATION

Establish an Editorial Calendar Choose schedule for days

you will post Keeps on Track & Organize

Content Consistency Helps when you need

Content Ideas

STEP 6 – MEASURE ROI

WHAT IS ROI? Non-Financial:

Visitors WOM Page Views Fans & Followers

FINANCIAL Sales Revenue Transactions Coupons

HOW TO FIND THE RIGHT SITES

EXACTLY WHO USES SOCIAL NETWORKS? ARE THEY MY POTENTIAL CUSTOMERS?

Get detailed user data for 2012 at the ASU SBTDC Pinterest Site at our Social Network Stats 2012!

http://pinterest.com/astatesbdc/

MONITORING TOOLS

Listen to the conversations! Read detailed “How To” set up at our storify posts http://storify.com/asbtdc_asu/monitoring

http://addictomatic.com/

https://twitter.com/search

http://www.socialmention.com/

http://www.google.com/alerts

MONITOR FOR:

Your business or organization Your Competition Your product or service Industry

INDUSTRIAL ESPIONAGE

Follow your competition on social media See what networks they use Evaluate how they connect Evaluate “value” they add to customers Reactions of followers, fans, subscribers,

etc. STEAL What works! AVOID what isn’t working

WHAT IS GOOD CONTENT

Educates Informs Entertains Provides Value Builds Trust Creates Relationships…then SELLS……

HOW TO SPREAD CONTENT

Video Images, pictures – Articles Infographics eBooks/White Papers Webinars Podcasts Coupons/discounts/special offersKnow how subscribers in different networks PREFER to receive your content

TOOLS TO CREATE CONTENT

Slideshare.com upload your PowerPoint, word documents, pdf files, brochures, even video online to share with your audience

Animoto.com Video creation and sharing tool that allows you to upload images and short video clips, add text, then mix with a great music library to share with your fans.

Storify.com Online curation site bring information from Google, Facebook, Twitter, YouTube, Instagram and more. Perfect for quick creation of information in appealing format.

YouTube – Fits as both a support tool and as its own social network. Shoot video from anywhere, upload to YouTube and share on your sites.

Get more information about Slideshare, Animoto and YouTube at our Storify article “Tools to Create GREAT Content”

TOOLS TO SAVE TIME

Hootsuite.com Buffer.com Tweetdeck.com Facebook Page Scheduler

Read all about these and other scheduling tools at our Storify article “Scheduling Tools for Beginners”

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.

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

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

CONTACT THE ASU SBTDC

E-Mail hlawrenc@astate.edu or asusbtdc@astate.edu

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