Arkansas State University Small Business and Technology Development Center

ALL of the contact that anyone in your company has with anyone outside your company

Marketing is NOT Advertising

Marketing IS Motivation

Complicated

A Miracle Worker

A Stage for Humor

Helping Customers Achieve THEIR Goals

A Process Not An Event

Process of Building Lasting Relationships

Repetition Focus on impact of the message rather than

volume. Obsessed with benefits. Understand positioning and niches markets.

Business Advantage: Marketing Your Business 5

1. Segmenting Your Market2. Know Your other Story Tellers3. Develop Target Groups4. Information Channels5. Target Needs/Wants6. Craft a Compelling Message7. Analyze Results8. Time Management

Be Customer Oriented NOT Self Focused

People Care About Themselves (not you)

Focus on Giving Not Taking

Customers Make Most Purchase Decisions in their Unconscious Mind

Repetition is Critical

Right-Brained vs. Left-Brained

Business Advantage: Marketing Your Business 8

Features – Characteristics that physically describe your product or service.

Benefits – Describes how the product or service will help the customer solve his/her problem.

**REMEMBER—It’s the benefits that will sell the product, not the features.

Understand the REAL MOTIVATION!

TO SAVE◦ Money◦ Time◦ Effort◦ Resurces

TO INCREASE◦ Income◦ Investment◦ Future◦ Personal relationships

TO REDUCE◦ Expenses◦ Taxes◦ Liabilities◦ Trouble

TO IMPROVE◦ Productivity◦ Confidence◦ Appearance◦ Peace of mind

Branded “Look”

Be Consistent

Your Location

On the Phone

On the Web

Don’t Start by Focusing on the Sale Create Soft Steps to Purchase Begin by Focusing on Consent to Hear from

You◦ Offer Free Information◦ Most Will Say “No”◦ Cherish Those Who Say “Yes”

Helps Build Relationships

Your Most Valuable Asset

Hold a Contest

Ask for Referrals

Don’t Abuse It

What is a Call to Action?

◦ Subscribe

◦ Buy Now

◦ Go to Our Web Site

Make it Obvious

Understand WHY Customers Should Do Business with You

Develop Your Follow Up Process◦ Start with Your Current Customers

Build a Customer Database You Can Use Look for Ways to Create Added Value Evaluate Your Attention to Detail

◦ Identify Problems and Opportunities for Improvement◦ Fix Them

Use and Refine Your Elevator Pitch Build Consent from New Prospects Identify Ways to Make Technology Work for You

Business Advantage: Marketing Your Business 1

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What product or service will you offer? List the features that are different or better

than your competitor’s. What are the benefits of this product?

Your benefits should be better than your competition, if not, how will you compel consumers to switch.

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Who wants/needs what you are offering? Factors to consider—age, sex, income,

race, musical taste, etc. Market is never “everyone.” Test your product/service using focus

groups, on-line surveys, etc. Turn the results into a one- or two-

sentence benefits statement.

Geographics – ◦ Location, size of area, density,

Demographics◦ Age, gender, income, education, etc.

Psychographics◦ Lifestyle, rate of use, repetition of need, benefits

Behaviors◦ Need for fulfillment, level of knowledge,

information sources, attitude,

BOTTOM LINE: KNOW YOUR CUSTOMERS

WHO ARE THEY? WHERE ARE THEY? WHAT DO THEY NEED? HOW DO THEY MAKE BUYING DECISIONS? WHERE DO THEY BUY? HOW DO YOU REACH THEM WITH YOUR

MESSAGE?

Who is your competition? (List)◦ Direct Competition◦ Indirect Competition

How do Customers Choose?◦ Price or billing rates◦ Reputation or image◦ Visibility?

Are brand names important

Describe each of your main competitors by◦ Size◦ Market Share◦ Comparative product quality◦ Their apparent target market◦ Availability of capital and resources◦ Their marketing strategy

Strengths and Weaknesses Compared to Yours Consider:◦ Service◦ Pricing◦ Reputation◦ Management◦ Financial position ◦ Brand Awareness◦ Technology◦ Other that is important in your industry

WHAT SEEMS TO BE THEIR STRATEGY?

Fusion Partners What are they?

Message and Channels Social Media Revolution 2012