CPPL UNDERSTANDING 21ST CENTURY MARKETING- IKE KALU

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... creating value through consumer insights

UNDERSTANDING MARKETING Ikechukwu Kalu BSc, MBA, MCIM


A Bit About Me..

• Who am I?

– Ikechukwu Kalu (my friends call me Iyke). I am a Nigerian and live right here in Naija

– I currently work for FCMB Limited, one of the top Nigerian banks and I head Marketing & Communication.

• What am I responsible for?

– Research & Insights development, Brand Management & Advertising, Communications, CSR, Customer Relationship Management and Acquisition.

• What I like doing? – Playing and watching football, News and a bit of reading. I will most likely be in church if

not at home or work.

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WHAT WE WILL COVER IN THIS SESSION..

• The difference between THEN and NOW

• How does a business enterprise create value?

• What are the basic functions of a business enterprise?

• Is there a difference between Marketing & Selling?

• Marketing Plan and the planning process

• Conclusion

• Questions..

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The difference between THEN and NOW

WE REALLY DIDN’T LISTEN TO CUSTOMERS

Yes we had focus groups, but we conducted a monolog with our customers, not a dialog. Customers couldn’t moan and groan about our poor customer service, or faulty products to the whole world. We could crush small business with the strength of budgets, not the quality of service and products. WHY IS THIS IMPORTANT - Because now small business can compete on a more level playing field, and the strength of your marketing does not necessarily have to rest with the size of your budget.

WE COULD USE EXPENSIVE COMPELLING CREATIVE FOR MAGAZINES, DIRECT MAIL AND OTHER MEDIA

Ok, there are still magazines and newspapers, but unless you have been living in a cave you have seen them get smaller and smaller. Direct mail is down substantially from a decade ago and the USPS will be bankrupt by December, without a government bailout. magazines are on iPads. Now we have text ads (little things), tiny banners, or 140 character tweets, social groups, fans and likes. WHY IS THIS IMPORTANT - Because now we have to get even more creative than ever, in the way we present our company, on Twitter, Facebook, and LinkedIn (and other Internet media). We have a smaller canvas on the Internet and therefore must get much better with our brushes. WE COULD MEASURE

With Nielson, Arbitron, ABC, and so on we could get reliable numbers that had been proven for decades. Today we are bombarded with statistics, but how much is necessary to make marketing decisions. WHY THIS IS IMPORTANT - Now we need to reduce our metrics to actionable and relevant statistics, instead of just pouring over data dumps.


Winning enterprise and the

people who work there are

the engine of a healthy

economy, and in providing

the revenues for

government, they are the

foundation of a free and

democratic society

..Jack Welch.

SIMPLE QUOTE TO START THE DAY..


Marketing is the

discipline concerned

with solving people’s

problems with

products and

services profitably

- Procter & Gamble

HOW DOES A BUSINESS ENTERPRISE CREATE VALUE?

P&G is the world's largest and most profitable consumer products company, with nearly $84 billion in sales and 25 billion-dollar brands.


The business

enterprise has two

and only two basic

functions: marketing

and innovation.

Marketing and

innovation produce

results; All the rest are

costs. - Peter Drucker

WHAT ARE THE BASIC FUNCTIONS OF A BUSINESS ENTERPRISE?


The difference

between selling and

marketing is that

selling is getting rid of

what you have, while

marketing is having

what people want..

- Ted Levitt

IS THERE A DIFFERENCE BETWEEN SELLING AND MARKETING?


Marketing is the engine that drives business.

...Phil Kotler • But in most companies the

engine is broken/malfunctioning • Most marketing programs don’t

work as well as they could or should..

Why?

WHY MARKETING?


• Poor Marketing Planning If you’re on the wrong train, every stop is the

wrong stop. ……..David Verklin

Embrace the principles of Marketing Planning ……planning process, execute well and measure results.

WHY?


• Bring your customer o focus always • Create amazing campaigns • Be there when it matters to your customer or

client and • Stay in touch.

Remember …. Without a vision, not much can be achieved.

Have a marketing vision


Have A Marketing Plan ….. Action Plan

Agree a Marketing Plan

Develop scripts and messages

Design website and social media pages

Commence campaign

Hold weekly and monthly review meetings


Have a Marketing Plan

…..Marketing Planning Process

• Phillip Kotler and Kelvin Lane Keller in the Marketing Management 12e, define

“Marketing Planning as the process consisting analysing Marketing Opportunities; selecting target market; designing marketing strategies; developing marketing programs and managing marketing efforts”


SIMPLE MARKETING PLANNING PROCESS

Stage 1: Positioning Stage 2: What's your message? Stage 3: Create infrastructure to implement the plan Stage 4: Go to Market Stage 5: Measure Results

You will need to know your customer, your company and competition to get it right

http://www.marketingplaninfo.com/wp-content/uploads/2011/11/Marketing-Consultancy.jpg


CPPL MARKETING PLANNING PROCESS ..You must position properly.

Adopting a very simple place in the customer’s mind is the

most powerful tactic

It’s not a football club, it’s the most famous club in the

world

The REAL thing


CPPL SIMPLE MARKETING PLANNING PROCESS ..Stage 2: What is your message?

Engage me, communicate with me, add value to my

business, solve my problems, create opportunity for me,

educate me, inform me, but don’t try and sell me – it

won’t work.

What's your message to your customer / client?

http://www.marketingplaninfo.com/wp-content/uploads/2011/11/Marketing-Consultancy.jpg


UNDERSTAND THE MARKET

As you're thinking about your target market, try to answer these questions: • Why do people seek products or services like yours, and how do they find them? • What problems do your customers have that they want solved? • What makes them decide to buy or not to buy? • How much do they need what you're offering? Is it a necessity? Is it a luxury? Somewhere in between? • Are they liable to shop around, or would they prefer to stick to one company? • Are your potential customers looking for quality, or do they just want a good bargain?


If we can answer these questions, we will be able to boil it all down into a simple message. Then it's time to figure out how to get the message out.

WHAT IS YOUR MESSAGE?

Customers / clients want to be helped?


Once we know our market and have a message: • It's time to build our marketing infrastructure, employing media and platforms that will be most appropriate to reach our customers / Client • For example, if our clientele are tech - savvy and active on social networking, set up profiles on Facebook, Twitter, and LinkedIn in addition to using the conventional media – Print, Radio, TV Outdoor, Direct Marketing etc.

BUILD INFRASTRUCTURE

Your media and platform will depend on your business objectives.


Product launch / ongoing

advertising

Social Media / Website

Sales engagement

activities

E Marketing

PR / Media Relations

BTL Campaign

Posters, flyers, SMS broadcast

ATL Campaign to - Press,

Radio, Billboards, TVC

animations

Customer

• Integrated support for all brand

building and Customer

engagement activities.

• Quality media presence / social

interaction – ATL, PR, BTL and

Social campaigns.

• Targeted Direct Marketing

campaign / experiential activities

across the primary and

secondary markets.

• E Marketing

GO TO MARKET STRATEGY


E-Marketing

What is it all about?

- Online Advertising

- Social Networking

Exploring Online Strategies for greater advertising ROI


THE ADVERTISER’S DILEMMA

Advertisers keep finding ways to reach specific audiences in the overcrowded market place


LET THE STATISTICS SPEAK

•55 million

Nigerians actively using the internet

• Huge potential for targeted advertising!

Chart shows top 10 African countries internet usage with Nigeria leading the pack


DIGITAL ADVERTISING STRATEGIES …THE ANSWER?

• The world over, online or digital advertising has slowly gained ground and popularity

• Digital strategies have offered advertiser’s a way out of the dilemma by reaching the target audience with the right message wherever they may be


Your Brand Communication/ Advertising

Vanguard Online is currently the most

visited site


Refin

able

Strategie

s

Pay Per Action (PPA)

Pay Per Click (PPC)

Cost per Mille (CPM)

ONLINE STRATEGIES

… advertisers can explore for greater ROI

Flash banners are designed and placed on targeted sites on a cost per thousand basis

Advertiser pays when visitors see and click on ads. A daily bid is submitted to the sites that can be increased or reduced depending on the ads performance

Advertiser Pays when a desired action is taken by visitors who view the ads


SOME THOUGHTS ON SOCIAL NETWORKING

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Conventional marketing wisdom long held that a dissatisfied customer tells 10 people. But in the new age of social media, he or she has the tools to tell it to 10 million. Social networking has become a cost effective and increasingly pervasive customer experience capture process across many industries – no exception. Blogs, YouTube videos, and social sites such as Facebook, LinkedIn, and Twitter have fostered an age of real time communication. Social networking enables businesses to reach customers at multiple and relevant touch-points thereby being inclusive rather than intrusive – i.e. the difference between customer retention and customer rejection.


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ELEMENTS OF A SOCIAL MEDIA STRATEGY

• Objectives

• Strategy

• Execution Plan

• Measurement

Why Social Media?

• Promote knowledge of your

brand, products & services in a

way that promotes two way

communication.

• Deploy platforms and Apps that

will enable active social

engagement.

• Measure / track performance.


SOCIAL MEDIA

Three core areas of focus are

Design

A great look and feel for all the channels we want to be on i.e. Facebook, Twitter, LinkedIn and Google.

Content

Regular posting of rich and relevant content.

Response Management

Prompt response to requests/enquiries.


SOCIAL MEDIA MANAGEMENT

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Executing the strategy:

• Be active: An active social media presence is at the heart of a successful strategy.

• Have a real person talking to customers.. As quick response is a MUST to succeed.

• Keep conversation interesting and relevant

• Create a sense of community

• Track customer sentiment


Two Types of Word of Mouth

2 Advocacy

– This is about what customers do- C2C

recommendation largely driven by product

quality

– It is an indication of loyalty.

1 Buzz

BUZZ & ADVOCACY..

The second type of word of mouth is what we refer to as advocacy. While the goal of buzz is to generate curiosity, advocacy is intended to offer proof and is always grounded in actual use of the product. If your product is good, marketing begins when the product is sold. Advocacy can be very important in transforming brand perceptions.


Activity Plan

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Unit Initiative Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Measurement & Evaluation

• All Marketing programs must be measured and evaluated regularly. What

does this mean?

– Your objectives must be clear

– You must have a strategy to enter the market and

– You must implement well and measure / track performance:

• Daily / Weekly / Monthly Tracking

• Quarterly Review

• Half Year Review

• Annual Review

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MARKETING-BEAR IN MIND

• Marketing is the engine of any business or enterprise

• Have a marketing vision. Remember, without a vision……?

• Plan your marketing and execute well, sole aim being to deliver value to your customer… have an action. • Flexibility is the key. Don’t be afraid to change course if you need to … at any point In time. When we keep doing the same thing over and over again, we will only get the same results. • Try new things, think multichannel.

Committing ourselves to marketing will give a big shot of energy. This will include constantly reviewing and assessing the different elements to know what

works and what doesn’t etc. This would require resources and constant engagement with you.


Thank you

QUESTIONS?

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CPPL UNDERSTANDING 21ST CENTURY MARKETING- IKE KALU