Maximizing Brand Awareness

The MBA Program Maximizing Brand Awareness

“I want to sell more.”

“I want to get more clients.”

“We’re hoping to grow this year.”

“I hope life returns to normal soon.”

Do You Have A Strategic Plan?

Marketing Your Business

(Or Are You Just Winging It?)

February 24, 2021

“It takes as much energy to wish as it does to plan.”

– Eleanor Roosevelt

“If you don’t know where you are going, you’ll end up someplace else.”

– Yogi Berra

YOUR TEAMFor Today

David Murphy - Founder - Nvent Marketing20+ years’ marketing expertise; 10+ years’ global Fortune 100 exec

experience (strategy, digital marketing, demand gen, brand, GTM)

Rand Jenkins - Founder - Mountain MojoMarketing Guru, Small Business Advocate, Content Writer, Public

Relations Director, Philanthropist, Serial Entrepreneur

5

.

Your Marketing Plan

Your Business & Brand Plan

Your Website(Ecommerce or Lead Capture)

Local SEOPaid Search (SEM)

Display Advertising

Direct Marketing

Event Marketing

Your Salesforce(Direct, Channel, Retail)

Customer Marketing

Strategy

RevenueChannels

Pay-Per-Click (PPC) Organic

Customer AcquisitionChannels

Visits... Conversions… Leads... Opportunities... Sales

Strategic marketing workflow

Digital Traditional

OtherGeneral SEO

Content

Social Media

Print Marketing

.

Your Marketing Plan




Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

Strategy

RevenueChannels





Digital Traditional

OtherGeneral SEO

Content

Social Media

Revisit your business plan

● Mission: What your company does. How you bring value to customers today. How you’ll achieve your vision.

● Vision: Your company’s dream for the future. Where you want to go. How you want the world to be.

● Values: Your values: what you believe. Your principles: how your team behaves based on your values.

.

Group discussion:● Does your company have a mission, vision, and values statement?● Where is it published or posted?● How often is it referenced?● Does your whole team know what it is and where it is?● Does your team ever discuss it or refer to it in discussion or communications?


Group discussion:● Has your company conducted an analysis of your competition?● How is your brand different from your competitors? ● How does your brand solve your customers’ problems?● What does your company do or have that is truly unique and differentiated?● Does everyone in your company know the answers to these questions?

Refresh your brand plan

● Brand Positioning: How your brand is positioned in a distinctive place in the mind of target customers.

● Brand Promise: The commitment you make to your customer to deliver a certain experience to them.

● Brand Value Proposition: What your brand offers and how it solves your customers’ problems.

● Unique Selling Proposition (USP): The attribute that differentiates your brand against your competitors

.


Craft your company’s elevator pitch

Elevator Speech: A verbal statement that articulates how you help targeted customers solve problems.

.

Must be:● Clear● Concise● Compelling● Customer-benefit Focused

Should all employees be asked to learn, rehearse, internalize, and naturally deliver it? Why not?

(& train your team to deliver it)


Craft your company’s elevator pitch

.

TEMPLATE:

At [OUR COMPANY], we provide [PRODUCT] for [TARGET CUSTOMERS] that allows them to [OUR VALUE PROPOSITION].

We have [EXPERIENCE], and unlike [COMPETITOR], we [DIFFERENCES].

End with a Call To Action or QUESTION.

EXAMPLE PITCH: (with<70 words)

At Zbest Painting, we provide full-service painting services to businesses and consumers in Anthem. Through our VIP Elite program, our customers can enjoy a fully painted room within 24 hours.

Our end-to-end service includes furniture removal and placement. Unlike BIGTIME PAINTERS, we don’t charge for rush orders.

Could your home or office use a refresh?

(& train your team to deliver it)


.

Your Marketing Plan




Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

Strategy

RevenueChannels





Digital Traditional

OtherGeneral SEO

Content

Social Media

.

Your Marketing Plan




Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

Strategy

RevenueChannels





Digital Traditional

OtherGeneral SEO

Content

Social Media

1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics

6-Step Strategic Marketing Action Plan

Your Marketing

Plan



Your Marketing

Plan

Product/Service Selection

Your Marketing

PlanBefore you build content, you need to know what to promote!

What is your most profitable product or service?

Which product or service is the easiest to sell?

Which product or service are you interested in selling more of?


Your Marketing

Plan

Other factors to consider…

How much does a lead cost to acquire? (CPA)

How long does it take a lead to convert?

What is your current conversion rate?

What does your current traffic look like?


Your Marketing

Plan

Group discussion:● What is your most profitable product or service?● Which product or service are the easiest to sell?● Which product or service are you interested in selling more of?● Which product are have you committed to marketing?



Your Marketing

Plan

Goals

Business Goal

Marketing Goal

Product Goal

Campaign Goal

Increase revenue by 20% by 12/31

Set a reasonable quantifiable goal and a deadline to achieve it.

Break the goal into segments.

Goals

Business Goal

Q1 Q2 Q3 Q4$1.05M $1.10M $1.15M $1.20M


Consider:● Seasonality● The economy● Competition● Market dynamics (market size, buying cycles)● Your current value prop & market position



Goals

Business Goal

Marketing Goal

Product Goal

Campaign Goal




Goals

Business Goal

Marketing Goal


Brand awarenessLead generation

New customer acquisitionAverage order value

Average order frequencyCustomer retention (churn)

Referrals

Generate 200 new qualified leads

Q1 Q2 Q3 Q4 Total

42 43 55 60 200

Example:

● Each sale is worth $10k. ● Closing ratio is 10%

(10:1 leads/sale)

200 leads = 20 sales X $10k = $200k



Goals

Business Goal

Marketing Goal

Product Goal

Campaign Goal





Goals

Business Goal

Marketing Goal

Product Goal


Prioritize one (maybe two) product(s) as your leaders.


Focus on my premium model 1234



Goals

Business Goal

Marketing Goal

Product Goal

Campaign Goal

What specifically needs to happen,

how, and by when?





Focus on my premium model 1234

Capture 2000 website visits

>> 400 inquiries

>> 200 qualified leads

Goals

Business Goal

Marketing Goal

Product Goal

Campaign Goal

Group discussion:● Does this goal framework make sense? Is it realistic and practical for your business?● If not, what parts of it can you apply?● Do goals need to be specific and measurable? Why or why not?● Do all the relevant team members know your quantifiable business goals for this year?



Your Marketing

Plan

Target Audience/Personas

Your Marketing

Plan

Let’s talk about your current and future personas!What is a persona?

What do your current personas look like?

What personas do you want to attract?


Your Marketing

Plan

Put yourself in their shoes:What does their daily life look like?

What kind of house do they live in?

What kind of car do they drive?


Your Marketing

Plan

More details!How big is their family?

What is important to them?

What do they do in their free time?

Where do they consume their media?


Your Marketing

Plan

Consider this:What products or services are your personas buying? Why?

What products or services are your personas not buying? Why?

Are there any barriers preventing your personas from using any products or services?

What types of messaging do they respond to?

Your Marketing

Plan

MEDIA PREFERENCES

● LuluLemon● REI Coop● Apple● Fitbit

Advocacy Meter

Based in Scottsdale, Carrie loves taking day trips throughout Arizona with her boyfriend/fiance and close friends. While she may have one or two things planned each day trip (hiking, shopping, or visiting a friend for dinner), she likes making plans on the fly. Carrie relies a lot on her smartphone for looking up restaurants, bars, hikes, etc. through apps like Yelp, Google Maps, and AllTrails. Carrie enjoys activities that are group-inclusive, for couples, and adventurous. She is currently on the “hunt” for something spontaneous to add to her day trip to the Verde Valley.

BRANDPREFERENCES

● Reputation/business directory sites like Yelp and Google Maps

● Instagram● Pinterest● Online news media

0-15%

MOST IMPORTANT FACTORS

IG Ready Bachelorette Party | Unique Experience | Affordable Group Pricing | Fun!

Age: 35

Occupation: Nurse Practitioner

Marital status: Engaged

Technology familiarity: Medium to High

CLIQUEY CARRIEPersona Example


Group discussion:● Do you have your company’s target audience and buyer personas defined?● Which one would be best for this particular marketing campaign?● What is special about them?

Your Marketing

Plan



Your Marketing

Plan

Channel Selection



Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

RevenueChannels




Digital Traditional

OtherGeneral SEO

Content

Social Media

● Brand awareness● Lead generation● New customer acquisition

Print Marketing

● Average order value● Average order frequency● Customer retention (churn)● Referrals

Match your channel to your marketing goals

Channel Selection



Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

RevenueChannels




Digital Traditional

OtherGeneral SEO

Content

Social Media

Consider your:● Marketing goals● Timing/urgency● Budget● External events● Seasonality● ROI measurement● Website health● Brand health● Retail presence?● Sales readiness?● Product lifecycle● Marketing assets &

resources

Print Marketing

Channel Selection



Display Advertising

Direct Marketing

Event Marketing


Customer Marketing

RevenueChannels




Digital Traditional

OtherGeneral SEO

Content

Social Media

Consider your:● Marketing goals● Timing/urgency● Budget● External events● Seasonality● ROI measurement● Website health● Brand health● Retail presence?● Sales readiness?● Product lifecycle● Marketing assets &

resources

Print Marketing

Group discussion:● What successes or failures have you

had with these channels that have taught you lessons?

● Share your experiences with your group.



Your Marketing

Plan

Measuring Success and Budgeting

Your Marketing

Plan

How are you going to define success?Think S.M.A.R.T.: Specific, measurable, achievable, relevant, and time-bound


Your Marketing

PlanConsumer packaged goods

Consumer services

Tech software or biotech

Communications or media

Mining, engineering, or construction

Service consulting

Education

Healthcare or pharmaceuticals

Retail wholesale

Banking, finance, or insurance

Transportation

Manufacturing

Energy

Industry Average Percentage of Revenue Spent on Marketing24%

15%

15%

13%

13%

12%

11%

10%

10%

8%

8%

8%

4%

What is your marketing budget?

Projected revenue:

X

Industry average %:

=

Your marketing budget:

Measuring Success and BudgetingProduct: Vacation cabins

Goal: Sell 25 @ $400 each = $10,000 / month

Persona: Cliquey Carrie

Channel: Facebook ads

Budget: $1,000 / month

Promotional Strategy: Giveaway campaign

Your Marketing

Plan

497.69% increase in web traffic

537 more likes on Facebook in just

over a month

121% increase in paid search clicks

594 contest submissions

Retained 470 email addresses

Approximately $1,000 of total cost produced $10,000 in bookings.


Group discussion:● Is it practical and reasonable that you could dedicate the resources necessary to budget,

measure, and analyze your campaign results?● What challenges would you have?● What benefits might result from making this effort?

Your Marketing

Plan



Your Marketing

Plan

Consider your:

● Channel mix and campaign calendar○ Social media: Facebook, Instagram, LinkedIn, Twitter, YouTube, Pinterest, etc○ SEO: National or local focus○ Traditional advertising: publications, coupons, signage, TV/radio, direct mail, print marketing○ Digital advertising: Google search, Google display, paid social media display○ Events: chamber, trade associations, partner events, other.○ Current customers: referrals, references

Promotion Strategy and Tactics

How much and when to invest in each channel to achieve your goals

Create a calendar with start/stop dates, KPIs, messages, assets

Consider your reach (how many will see your message) & frequency (how often)

Your Marketing

Plan

● Create campaign themes and have the channels complement one another● Content creation

○ Customer success stories, product news, educational, thought leadership, events, promotions● Media/content mix

○ Video, photo, text articles, infographics, testimonials, podcasts, webinars, ebooks, ● Tools and resources

○ Stock photography - ■ Adobe, Getty Images, iStockPhoto, Shutterstock, Canva

○ Graphic design ■ Software - Canva, Adobe CC■ Freelance designers - Fiverr, Upwork

○ Video/photo editing■ iMovie, LightRoom

Promotion Strategy and Tactics

Group discussion:● Have you ever managed your own

campaign or created your own content? What did you learn?

● Which if these tools and resources have you tried? What was your experience from it?

Your Marketing

Plan



Consider: Do it yourself or outsource?

Make-or-Buy trade-off, opportunity costs, learning curve, control?

Your Marketing

Plan

Can we get a volunteer to

tell us about your takeaway? 1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics


Your Marketing

Plan

The MBA Program Maximizing Brand Awareness

Documents

Maximizing Brand Awareness