Marketing & (Social) Media - Noise or Value?

Marke&ng & (Social) Media Noise or Value? Author: Eva Hukshorn

2

1.  EFactor is a Smart Network that matches entrepreneurs with the very people who can help them grow

2.  Finding Business Partners: from partners to investors, from coaches to customers

3.   Largest Entrepreneurial Network in the World with 1mio members in 185 countries

4.  An online community Offering you a network, knowledge, events, and every business resources you need to succeed @ discount!

5.   GO Online, fix your personal profile & company profile and get MATCHED!

It’s not about connecPons -‐ it’s about the right ones…

Eva Hukshorn: An introduc&on

•  Work Experience -  Current: Partner EFactor

Board of Advisory: TreFoil Energy / CleanDrinks / Global Thinkers / ShowLinq

Coach Startup: Bootcamp Amsterdam / New Venture McKinsey -  2009 – 2010: Dutch Bou&que – Marktlink Mergers & Acquisi&ons, Amsterdam -  2007 – 2009: Royal Bank of Scotland – Corporate Finance, Amsterdam -  2004 – 2009: ABN AMRO – Corporate Finance New York, Amsterdam -  2003 – 2004: Accenture – Consul&ng London, Amsterdam

•  EducaPon -  1997 – 2002: MSc Economics, Finance – University of Groningen, the Netherlands -  2003: Interna&onal & Asian Studies – Na&onal Sun Yat-‐Sen University, Taiwan -  2009 – 2011: Cer&fied Management Accoun&ng (CMA) – Ins&tute of Management Accountants

(IMA), United States -  2009 – 2011: Colloquium General & Modern Art – Academy for History of Art, the Netherlands -  2012: Interna&onal Financial Report Standards (DipIFR) – Associa&on of Chartered Cer&fied

Accountants (ACCA), United Kingdom

3

FUNDING TUESDAY, EVERY TUESDAY

So what can you expect from us each Funding Tuesday?

1.   Webinars on EFactor on Finance & Funding related topics in the EVENT Sec&on

2.  Blogs & interviews with informal investors and funded entrepreneurs with &ps & tricks in the BLOGS sec&on under NOW

4

3.  Finance & Funding related ar&cles on NOW feed

4.  In the Finance & Funding GROUP on our website you will find Q&As of the webinars under NETWORK

5.  In the KNOWLEDGE base you will find more and more presenta&ons on Finance & Funding related topics, including the webinar presenta&ons

6.  And if you become a VIP MEMBER you will personally be supported on your Finance & Funding related ques&ons

Webinar Program Overview 2012

June 19: Business Plan Wri&ng -‐ A Roadmap to Success July 3: Pitching & Presenta&on -‐ 3 Minutes, 1 Impression July 17: Strategy -‐ A Vision for the Future, A Strategy for Geing There July 31: Budge&ng & Forecas&ng -‐ Predic&ng the Outcome Aug 14: Working Capital -‐ An Unknown Key to Success Aug. 28: Capital Management -‐ Playing with Risk Sept 11.: Funding & Investments -‐ Some Sources are More Equal then Others Sept. 25: Valua&on -‐ Art or Science Oct 9: Exit Strategy -‐ Nice to Have or Need to Have? Oct. 23: Bootstrapping -‐ An Alterna&ve Answer to Funding Nov 6: Crowdfunding -‐ The Power of Friends, Family and Fools Nov. 20: Networking -‐ Nice You have 3000 Friends, I have 30 Relevant Connec&ons Dec. 4: MarkePng & (Social) Media -‐ Noise or Value? Dec. 11: No Sales, No Glory Dec. 18: Most Common Mistakes of Entrepreneurs

5

6

Marke&ng is about making yourself visible

Marke&ng exposure evolved quickly

•  MarkePng evolved: -  1980s: Fewer ads >> more people >> undivided amen&on -  2010s: More ads >> less people >> less amen&on

-  Product prolifera&on and availability => Choice -  Media prolifera&on => Con&nuous & Fragmented -  Access prolifera&on => Everywhere

But so did the consumer

•  InterrupPon markePng is no longer accepted •  Audience is parPcipaPng instead of receiving

•  SoluPon: GET THEM INVOLVED

9

ü  Define your idea / Bus. Plan

ü  Target audience

ü  Target market

ü  Budget constraints

ü  Smart marke&ng

ü  Feedback

ü  Measurable

ü  Logo

ü  Recrui&ng

ü  Investor rela&ons / PR

ü  Crisis management

ü  Traffic

ü  Employee rela&ons

ü  company culture

ü  Style company

ü  Philosophy

Why you need a marke&ng plan: control!

10

1 Know thyself

2 Characteris&cs product

3 Specify your target market

4 Specify your target group

6 Iden&fy stage in life cycle

7 Goal communica&on

8 Research buying behavior

A markePng plan helps you to send out consistent messages

9 Select marke&ng channels

5 Collect informa&on 10 Create marke&ng budget

Pre-‐prepara&ons for you marke&ng plan

11

Know thyself: SWOT analysis

•  Poli&cal •  Legal •  Economic condi&on market •  Expecta&ons of stake & shareholders •  Technology •  Public expecta&ons •  Compe&&ve environment •  Barriers to entry •  Commodity prices •  Amount of customers •  Structure of suppliers

INTERNAL: Strength & Weaknesses

•  Resources: financial, intellectual •  Customer service •  Efficiency •  Compe&&ve advantages •  Infrastructure •  Quality & price •  Delivery &me •  Costs •  Capacity •  Personnel / management •  Organiza&onal structure

EXTERNAL: OpportuniPes & Threats

12

Iden&fy the characteris&cs of your products / services

Create a SWOT of your product

POSITION

VISION

BRANDING

ALLIANCES

FEATURES

SUPPORT

PRICE

COMPETITION

SALES CHANNELS

13

Specify your target market

Target small, and then roll-‐out to near markets

EXAMPLE:

•  Fashion

•  Fashion in North America

•  Fashion in the US

•  Fashion in New York

•  Fashion in New York, Manhaman

•  Pret-‐a-‐porter fashion in New York, Manhaman

14

Specify your target customer

Demographics

•  Age

•  Gender

•  Profession

•  Rela&onship status

•  Children

•  Race

•  Poli&cal preference

•  Religion

•  Loca&on

•  Educa&on

•  Genera&on X, Y, Z

•  Income

•  Hobbies

•  Life style

15

Collect lots of Informa&on & analyze

•  Market:

-  Economic

-  Regional

•  Customer characteris&cs

•  Compe&&on:

-  Companies

-  Products

WHAT TO COLLECT

Lots of quanPfiable data needed

•  Surveys:

-  Online surveys

-  Personal surveys

•  Group sessions

•  Industry reports

•  Compe&tors

•  Other… be crea&ve!

HOW TO COLLECT

16

In which stage of the product life cycle are you in?

PRODU

CT SAL

ES

INTRODUCTION GROWTH MATURITY DECLINE

Different stages, different messages

BRAND AWARENESS SALES ENCOURAGEMENT LOYALTY

Determine the goal of your message and communica&on

17

BRAND AWARENESS

TEASING & POSITIONING •  Recogni&on •  Messages frequent &

consistent •  Posi&ve feelings •  Awareness of USP •  “Experience”

SALES ENCOURAGEMENT

ACTIVATING & CONVINCING •  Understanding problem •  Awareness of ‘how’ problem

is solved •  Products & services are

easily accessible •  Administra&on process are

clear & prac&cal

LOYALTY

SATISFACTION & RELATION •  Con&nuous dialogue •  Deliver promises •  Solve problem •  Create long-‐term rela&on •  Rela&on con&nues even

axer product or services is delivered

55% 35% 10%

Note: www.BiTSEN.nl, Frans de groot / Toon ten Cate

18

Research your customers’ buying behavior

NEED RECOGNITION & PROBLEM AWARENESS

INFORMATION SEARCH

EVALUATE ALTERNATIVES

PURCHES

POST-PURCHASE EVALUATION

19



•  SPmulus creaPon

20



INFORMATION SEARCH

•  Personal Sources

•  Commercial Sources

•  Public Sources

•  ExperienPal Sources

21



INFORMATION SEARCH


•  Personal Sources

•  Commercial Sources

•  Public Sources

•  ExperienPal Sources

22



INFORMATION SEARCH


PURCHES

•  High Involvement

•  Low Involvement

23



INFORMATION SEARCH


PURCHES

POST-PURCHASE EVALUATION

•  SaPsfacPon

•  ConfirmaPon

Choose your marke&ng channels

24

BRAND/IMAGE – TEASING Radio Public transport Free Publicity Press release

Guerilla Bill Boards Spectacular SMS

Tell a friend Cars

BRAND/IMAGE – POSITIONING Television Magazines Advertorials Press interviews

Brochures Website News Rooms Podcasts

Flicker Video / YouTube Partners TV shows

SALES/TRAFFIC -‐ ACTIVATING Conferences Congresses Seminars Direct mail

E-‐mail Telemarke&ng Leaflets Ac&on website

Free cards Point of traffic Newspapers SEO / SEA Social communi&es*

LOYALTY -‐ RELATIONSHIP Blogs Widget Tes&monials Book wri&ng

Member-‐brings-‐in-‐member In-‐house / online magazine

Individual entertainment & business rela&onship building events

LOYALTY -‐ SATISFYING Membership Cashback card Events Newslemers

News updates Forum Educa&on Apps

Online games Panels Mentoring Q&A Video calling Workspace

SALES/TRAFFIC -‐ CONVINCING Sales promo&on Premium Services Personal sales Sales presenta&ons

Sales training Sales coaching Product folders Sampling

Trials Case studies Tes&monials Post-‐ordering Catalogue Display

Note: www.BiTSEN.nl, Frans de groot / Toon ten Cate

Social Media: describes the online technologies and pracPces that people use to share opinions, insights, experiences, and perspecPves with each other

BROADCASTING INTERACTION

What makes marke&ng social?

25

Is social community = social media?

•  A community: shared interests •  Social community is just one of the tools for

making broadcas&ng social

•  Again: It is all about creaPng interacPon: -  Blogs, wikis, event planning & promo&on,

wikepdia, mul&media sharing, forum, panels…

26

•  Build target community

•  Create individual connec&ons

•  Create engagement >> Like

•  Use feedback >> Listen

•  Solve their problems

•  Show credenPals / quality through discussions

•  ParPcipate in industry groups as well as your client

•  Pose ques&ons to create involvement

•  Create thought-‐leadership

•  Real power in viral marke&ng >> SEO & traffic

How to implement social media

27

Everyone related to your business is a soldier of your brand, make sure they fight the right banle

But even more important:

28

Time consuming, so what does it bring?

•  Increase your visibility

•  Improve your connectability

•  Improve your Google PageRank

•  Enhance your search engine results

•  Company reference checks

•  Increase relevancy poten&al hiring

•  Measure health of a company

•  Measure health of an industry

•  Track startups

•  Ask for advice and solve problems 29

What is what is what for?

30

Tip 1: Post yourself on a frequent basis

31

Tip 2: Decide on comment policy and complaints

32

Tip 3: Relate to other (social) media

33

Tip 4: Tell them who you are and what your are doing

34

Tip 5: Free publicity

35

•  Social media is not the only media that is for free!

•  No just about you •  Don’t sell •  Reac&on on current events •  Be pro-‐ac&ve

Tip 6: Manage your &me

36

You are not a media company, focus on your operaPons! Max 1 hour a day

Last but NOT least: Set a market budget!

37

•  % of run rate, depends on: -  Industry, size, growth stage -  Startup 10% / Maturity 2-‐3%

•  Budget allocaPon -  Developing brand -  Cost promo&on

•  Track return on investment

•  Revise your budget frequently

38

NEXT TIME: SALES SALES SALES!

Webinar Program Overview 2012

June 19: Business Plan Wri&ng -‐ A Roadmap to Success July 3: Pitching & Presenta&on -‐ 3 Minutes, 1 Impression July 17: Strategy -‐ A Vision for the Future, A Strategy for Geing There July 31: Budge&ng & Forecas&ng -‐ Predic&ng the Outcome Aug 14: Working Capital -‐ An Unknown Key to Success Aug. 28: Capital Management -‐ Playing with Risk Sept 11.: Funding & Investments -‐ Some Sources are More Equal then Others Sept. 25: Valua&on -‐ Art or Science Oct 9: Exit Strategy -‐ Nice to Have or Need to Have? Oct. 23: Bootstrapping -‐ An Alterna&ve Answer to Funding Nov 6: Crowdfunding -‐ The Power of Friends, Family and Fools Nov. 20: Networking -‐ Nice You have 3000 Friends, I have 30 Relevant Connec&ons Dec. 4: Marke&ng & (Social) Media -‐ Noise or Value? Dec. 11: No Sales, No Glory Dec. 18: Most Common Mistakes of Entrepreneurs

39

BECOME A VIP MEMBER WITHIN 1 WEEK AND GET YOUR PLAN CHECKED!

SPECIAL OFFER, ONLY USD 12!

1.   FREE checking of final drao business plan 2.   FREE discussion on next steps and how & where to find funding in your

region 3.   FREE to ask addiPonal quesPon related to funding & investment related

topics 4.   FREE documentaPon of all webinars so far, presentaPons + notes! 5.   FREE downloads on relevant entrepreneurial topics 6.   EXTRA discounts on all our products on our website 7.   Send me an email on: www.efactor.com/hukshorn 8.   Follow me on: www.efactor.com/hukshorn

40

HTTP://WWW.EFACTOR.COM/VIP

Thank you!

This document was prepared and wrinen by Eva Hukshorn. Several people and organizaPons

have inspired her to write this presentaPon, amongst which are, but not limited to the

Founders of EFactor, ABN AMRO/RBS, University of Groningen, InsPtute for Management

Accountants, Aurium Prince

Marketing & (Social) Media - Noise or Value?

Business

Transcript of Marketing & (Social) Media - Noise or Value?