Marketing Smarter In Today's Economy
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Transcript of Marketing Smarter In Today's Economy
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Marketing Smarter InToday’s Economy
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5 Steps To Market Your CompanyBefore You Start Spending MoneyOn Marketing
Accountability
Alignment
Focus
Capitalize
Evangelize
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When It Comes To Marketing,“I Think This Is Working”
Is Never The Right Answer
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Accountability
Knowing which tactics are driving sales/leadshelps you not only understand what tactics areworking, but if marketing is even the issue.
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Accountability
Example - A client was having a significant declinein sales. The blame immediately went tomarketing but after putting a tracking system inplace we were able to determine the marketingwas working but the inbound center was notclosing the sale.
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Accountability
Tracking programs can range from simple tosophisticated.
Asking How
Google Analytics
Promotional Offers
Discrete URLs/800 Numbers
Clipping/Tracking Services
Quantitative Research
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A company who truly believes incustomer service never starts
a phone conversation with“Press 1 for...”
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Alignment
Ensuring that your corporate message is relevant,consistent and communicated throughout yourorganization.
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Alignment
Relevance
Companies spend too much time focusing onwhat they want to tell their audience not whattheir audience wants to hear from them.
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Alignment
Consistency
When you do decide how you answer what theaudience wants to hear, you must do so in aconsistent manner
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Alignment
Consistency
Consistency of message in everything you do isimportant, but it begins with making sureeveryone knows what that message is otherwise
know as the dreaded Elevator Pitch
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Alignment•The Consistency Test
Write down what you think is your elevator pitch
Have your employees write down what they think is your elevator pitch
Analyze the findings to see if everyone is on the same page
Be honest and do not infer what people mean to say
If everyone is on the same page, great
If not, you have a starting point to see what needs to be fixed.
If the differences are significant try to identify trends
Do the customer-facing people describe your company one way, and the back office another?
Do your long-time employees have a different perspective than your newer employees?
Honestly assess the findings and determine if your elevator pitch is the best one or does a better solutionexist.
Present the final elevator pitch to your employees and have them write down what it means to them. Doing so will help them internalize the pitch
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Alignment
Communicated Through and Through
Any interaction with your company mustcommunicate your point of being; for example
If you are known for providing tools to increase efficiency yourcustomers shouldn’t have to hold on the phone beyond two minutes
If you are known for operational excellence everything down to yourinvoicing should be accurate
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“All your marketing materials lookconsistent” is not a compliment
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Focus
A focused marketing effort is more than makingsure everything looks alike it requires a clear,concise and compelling message
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FocusA Brand Platform is integral to a focused brand
A Brand Platform becomes that all your marketingis measured against
A Brand Platform consists of:
Brand Position - How you want to be viewed in the mind of youraudience
Brand Promise - The expectation you set when you invite someone tointeract with your brand
Brand Personality - The tone in which you deliver you message
Brand Messages - Four or five key tenets of your business and thebenefits they provide
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Satisfied customers are just thoseyou haven’t given a reason to be
dissatisfied
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Capitalize
How much of your business is from repeatbusiness?
Since it is 7x more expensive to gain a newcustomer than to keep an existing one, look atwhat you are doing to generate repeat business
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CapitalizePrograms that allow you to capture more businessfrom your customers and make them evangelists
Customer Marketing
Customer Insight Surveys
Transparency
Advisory Panel
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Capitalize
Customer Insight Surveys
Know your customers betterHow do your customers feel about you? Why?
Has this changed in recently? Why?
Are you their sole provider?
Are they aware of all the services/products you provide?
Do they use all of the services/products you provide?
This information allows you to put together amore strategic customer marketing program
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CapitalizeCustomer Marketing
Inexpensive tactics to reach your customers
Must be educational/helpfulEmail Newsletters - monthly tips on how to use your product better
Invoice Marketing - promote value-added products with your invoices
Web Site - most customers will continue to visit your companywebsite, so keep it current and make it valuable
Blog - A great resource to provide valuable, educational info
Phone Calls - when was the last time you called a customer to seehow your product was working for them or if they had questions
Twitter/Facebook - Let customer follow you on social networks
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Capitalize
Transparency
Social Media is a great tool for transparent conversations with yourcustomers
Let them know what you are up to in terms of new products/services -gauge their reaction and listen to their ideas
More people are asking for interaction with companies via social medialike Facebook or directly on your site
Negative comments are good and provides you the forum to respondin a positive manner
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Capitalize
Customer Advisory Panels
These panels allow you to hear what thecustomers needs as well as test new productideas with them
Let’s them feel valued by your company
Does a great job of creating evangelists for yourproduct
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Elated customers and unhappycustomers have one thing in common
- they’ll both talk about yourcompany
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Evangelize
Word-of-mouth is cited as the most influentialform of marketing, so make sure your evangelistsare working for you
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Evangelize
Encourage customers to talk about you
Formal Referral Program
From thank you notes to discounts - inexpensive way to keepcustomers talking about you
Social Networks
Twitter, Facebook, LinkedIn, Plaxo, Spoke, etc provide manyways to get customers talking about you
Review Sites
Kudzu, Yelp, etc are free resources where customers can talkabout your business.
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5 Steps To Market Your CompanyBefore You Start Spending MoneyOn Marketing
Accountability
Alignment
Focus
Capitalize
Evangelize
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Once these 5 steps are inplace your paid marketingbecomes more impactful,accountable, anddrives business
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M is for Marketing is a marketing consultancyhelping companies increase their return on their marketing investment
without increasing their investment.
http://smartermarketing.wordpress.com