Business Development 2010 Accelerating Success Through Marketing Webinar Series: 3. 0 Presented by Don Neal January 26, 2010
It’s not the big that eat the small, it’s the fast that eat the slow!
How Fast Have You Been Moving? 1. 2. 3. 4. 5. 6. 7. 8. 9. Lock-in Webinar #3 - check! Your role as champion (ID who needs to be sold) Dedicated notebook Segment your database Determine acquisition costs Determine your marketing and sales ROI Assign a full time staff to marketing Allocate 3+% of sales to 2010 marketing investment Identify current marketing activities that drive awareness, leads, referrals, cross-sell and up-sell 10. Begin to develop your 2010 marketing plan
So… How Did We Do in the Past 2 Weeks? 1. Proof of effectiveness – metrics; marketing investment 2. Where to invest 3. How to invest
Sales Objectives & Metrics • • Profitable revenue growth 100% share of spending Revenue / technician Revenue / profit per location Revenue / profit per customer LTV Sales /acquisition costs Servicing costs
Q 1 Marketing Objectives 1. Identify the best business opportunities within the top 20% of current customers 2. Develop key account development plans 3. Produce a measureable ROI; target 10: 1
An audience will forget 87% of what they hear in a presentation within a month.
13% So – what is the you’ll remember and what will you do about it?
Our Focus This Afternoon • Your value proposition, USP and offer-market-match • Your brand promise • Media – why it matters, what you need to know and how to get started
The Discipline Of Market Leaders Your Center Of Gravity? • Operational – Wal-Mart supply chain and logistics (RFID) • Product – Apple create and commercialize (Auto Prototypes) • Customer – Google focus and management Michael Treacy and Fred Wiersema
What is your firm’s center of gravity?
The purpose of business is to acquire and retain a customer. Peter Drucker
There is only one marketing absolute… The Truth!
People hire products and services to do a job!
What job do your customer hire you for?
People don’t want to buy a quarterinch drill. They want a quarter-inch hole. Theodore Levitt- Harvard
Brand What is your promise? Consumer What are the expectations of your customers? The Value Proposition V=Q/P _____ + ______ +
Value = Quality Price
Where. . . Q = Performance + Selection + Convenience + ______
Airlines Q = dependable + no-hassle + happy employees + strong financial performance Harris Interactive
USP
Beatty’s Custom Hardwood Floors “Specializing in hardwood floors”
A USP is required for customer loyalty.
High Price Feasible Positions Low Quality Positions High Quality Feasible Positions Low Price
Women buy everything! DIY – 80% Cars – 90%
Your next best customer is the one you already have!
The only research question that matters!
Would you recommend to your friends/business associates? Why/Why Not?
What do your customers think of when they interact with your brand?
What do you think of…
Customers Buy For Three Basic Reasons 1. Financial (Save $; Make $) 2. Relationships (Buy from people they like) 3. Avoid Risk (regulatory, legal, etc. )
You Said… 1. Relationships 64% 2. Financial 32% 3. Regulatory 4%
There are no business relationships only personal relationships that happen in a business context!
Build Relationships Before You Need Them.
The New Media Environment
Most effective influencers • • • • Word of mouth Coupons In-Store promotion TV/cable Newspaper inserts Newspaper Radio Yellow pages Direct mail Magazines Internet advertising E-mail advertising Billboards 75. 2% 57. 6% 55. 0% 50. 6% 45. 4% 39. 0% 34. 4% 27. 3% 26. 7% 27. 5% 21. 6% 19. 4% 13. 6%
DMA Response Rate Study Medium Direct mail Dimensional Catalog Email Inserts Telephone Magazine Consumer % B-to-B % 2. 40 5. 18 2. 42 3. 58. 048 5. 79 0. 27 2. 14 5. 14 1. 05 2. 66 0. 34 5. 53 0. 09
CRM Sales and Marketing Process Customized Communications Targeting Historic $ Offer Service Consolidate Suppliers New Departments Tech. Support Different Needs Offer Purchase Drivers Opp. /Problem Price Name Quality Name Potential $ Name Site Individuals A 1 A 2 Purchasing Agent Message DM A 3 B 1 B 2 C 1 Cross-sell Message Up-sell Influencer B 3 C 2 End User C 3 Segment Function Transaction Message Infl. Message Aggressive Bid Response Message Role Retain Customized Response Offer Mail Phone Fax Web Order desk Catalog Sales Face-to-face Media & Communications Plan CFT
The Marketing Plan 1. Background & Situation Analysis: SWOT, competitive analysis, your USP and value proposition, what’s worked and what hasn’t 2. Objectives, Metrics & Reporting: from our last webinar session 3. 4. 5. 6. Budgeting: % of sales, staff allocation, ROI based Customer Database Segmentation: from our last webinar Key Account Planning Message & Media Framework
Survey Says… If There Was One Thing I could Change About Our sales organization it Would Be: “Develop a structured approach to sales”
Selling Buying Targeting Individual Needs Inquiry Solutions Qualification Options Needs Assessment Decision Process Proposal/Quote Purchase Close the Sale Re-Purchase Customer Service
What is Marketing? A process that creates conditions for a sale to occur…and an ongoing relationship to be cultivated!
The Nervous System of a Marketer! The Soul of a Salesperson!
Today is Tomorrow’s Yesterday
Join us on February 9 for our last program on “Closing the LOOP” To Register, go to memberonly section of www. mscastar. org
Thank You! don@privateequitymarketing. com 703 -915 -8421
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