Business Development 2010 Accelerating Success Through Marketing Webinar Series: 1.0
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Transcript of Business Development 2010 Accelerating Success Through Marketing Webinar Series: 1.0
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Business Development 2010Accelerating Success Through Marketing
Webinar Series: 1.0
Presented by Don Neal
December 16, 2009
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Good Afternoon & Welcome
• The good news – 20% sales growth in 2010• The bad news – what got you here won’t get
you there• YOU can’t change anyone’s mind
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You’ll Like Irrelevance Even Less.
General Eric Shinseki, Chief of Staff US Army
If You Don’t Like Change
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The fact Is:
• MSCA STARS have been cool on marketing
• The need for marketing has heated up
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Survey Says…
What Grade Would Your Sales Force Give Your Company On Their Marketing
Efforts? A = 1
B = 1
C = 11
D = 5
F = 2
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Our Objectives This Afternoon:
1. Get serious – adoption
2. Get ready – plan
3. Get started – take action
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Getting The Most From This Webinar Series
• Your role – ambassador, coach, leader• Learn to teach - socialize and sell; give this
presentation• Dedicated notebook; take notes – convert• Ask questions throughout – interact• Lock webinars #2, #3 and #4 in on your
calendar• Get sales involved• Call in Q&A session
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Where Is The Growth in 2010?
1. New construction: new / new
2. Switch / move business from a competitor
3. Up-sell / Cross-sell
What %:
1. < 20%
2. 20% - 50%
3. > 50%
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Current Customers• 65%+ of sales come from existing satisfied customers
• 100% or more of profits come from 20-30% of those customers
• Customer acquisition is six times more expensive than retention
• A 5% increase in retention can boost profits from 25% to 125%
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Survey Says…
What is The Acquisition Cost For a New Customer?
• “Very good question”
• “Not sure”
• “Don’t know”
• “A lot!”
• $500
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Customer Loyalty Profit Analysis
Profits from Reduced Operating Costs
Profit from Price Premium
Profit from Increased Purchases
Profit from Referrals
Base Profit
Acquisition Cost
Year of Customer Life0 1 2 3 4 5 6
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Survey Says…
65% Don’t Know the Latent / Potential Value Within
Current Accounts!
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What’s Holding You Back?
• Measuring the value
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Survey Says…
Do you know the ROI for your 2009 sales &
marketing investment?
100% Responded No!
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What’s Holding You Back?
• Measuring the value• The appropriate budget
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Survey Says…
From 16% to 0.2%
Average 3.78%
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What’s Holding You Back?
• Measuring the value• The appropriate budget• Dedicated marketing staff
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Survey Says…
From 10% to 100%
Average 20%
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What’s Holding You Back?
• Measuring the value• The appropriate budget• Dedicated marketing staff• Marketing database
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Survey Says…
50% have segmented their database in the 20% -
60% - 20% tiers
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What’s Holding You Back?
• Measuring the value• The appropriate budget• Dedicated marketing staff• Marketing database• A clear plan of action• Confidence and belief
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What is Marketing?
A process that creates conditions for a sale to occur…and an on-going relationship to
be cultivated!
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Marketing Awareness – Decision Continuum
Cost & Time
Custom
er E
ngagement
& V
alue
Awareness
Interest
Consideration
Trial
Purchase
Loyalty
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Survey Says…
5 Most Successful Marketing Activities:
1. Cross-selling existing customers
2. STAR literature
3. Speaking engagements
4. Word of mouth / referrals
5. E-mail / trade shows
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Identify the Top 10 Conditions
• Awareness• Leads• Referrals• Cross-sell• Up-sell
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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
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We Have 3 Basic Lever to Pull
1. Audience
2. Message
3. Media
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Who Is Your Audience?
STP
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Scoring and Segmentation
• Incorporates monetary value, sales trends and recency into a single score
• Based on core product sales only
Current Value
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Scoring and Segmentation
• Scores clustered into three segments:
A = high value
B = moderate value
C = low value
Current Value by Segment
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Scoring and Segmentation
• Based on performance of site versus peer group of similar sites Underperforming peers = higher potential
• Potential value score is a surrogate for information to be gathered directly from customers over time
Potential Value Scoring Process
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Scoring and SegmentationThe Customer Database
Customerdatabase(64, 831)
A1 A2 A3
B3B2B1
C1 C2 C3
321
PotentialValueScore
Medium
CurrentValueScore
High
Low
A
B
C
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Customer Segmentation
Potential Value
Current Value
A1 A2 A3
B1 B2 B3
C1 C2 C3
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Customer Segmentation
$6.7 MM$18,527
$2,518
$3.0 MM$8,248
$850
$1.8 MM$4,947
$504
$1.3 MM$667
$2,325
$3.9 MM$1,285
$700
$7.5 MM$1,509
$180
$405K$203
$2,848
$576K$192
$1,309
$2.7 MM$55
$109
Total SalesAve. Sales/SiteAve. Potential/Site
Total SalesAve. Sales/SiteAve. Potential/Site
Total SalesAve. Sales/SiteAve. Potential/Site
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Customer Segmentation
B3
C2 C3
Currentprograms
A1 A2 A3
B1 B2
C1
Enhanced,customized programs
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Are You Talking To Me?
The Message
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Does it stick to the roof of your mind?
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Headline
Facts
Anecdotes,Examples &
Case Studies
Bottom Line
Reinforces the message
Creates a picture
Proves a point
Give you control
The Messaging Pyramid
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Customer Benefits By Segment
Customized On-Site Audit Program
On-site Training Support
Customized Benefits
Dedicated Customer Care Account Manager
Customized Marketing Training Programs
Trade Show Specific STARS Offers
Ready to Use Customizable Marketing Materials
National Brand Awareness Promotion
C3C3C2C2B3B3C1C1B2B2B1B1A3A3A2A2A1A1
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What is Your Media?
The Plumbing
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Four Categories of Media
• Paid• Shared• Owned• Earned
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What Media Can You Best Leverage?
• Collateral• Signing• Vehicles• Direct mail• Uniforms• Word of mouth• Billboards• The web
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Media Effectiveness
Most Effective Influencers
75.20%
57.60%
50.60%
34.40%
27.50%
13.60%
Word of Mouth
Coupons
In-store Promotion
TV/Cable
Newspaper Inserts
Newspaper
Radio
Yellow Pages
Direct Mail
Magazines
Internet Advertising
E-mail Advertising
Billboards
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Are You…
• Serious?
• Better prepared?
• Going to get started ?
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Next Steps
• Indentify who needs to be sold and on-board• Identify the 2010 sales objectives and allocate
3% to marketing• Assign resources – staff • Segment your customer base• Identify your STARS differentiation• Involve the salesforce• Begin developing your marketing plan