evolution of marketing. - millennium marketing solutions€¦ · marketing budget / revenue overall...

Evolution of marketing.

• Print (magazines, newspapers, etc.)

• Broadcast (TV, radio, etc.)

• Direct Mail (catalogues, postcards, etc.)

• Telephone (telemarketing, etc.)

• Outdoor (billboards, fliers, etc.)

Back in the day we relied on“TRADITIONAL” advertising ….

Evolution of marketing.

• Website• Search Engine Optimization• Local• Paid (Display, Pay-Per-Click)• Social (Organic and Paid)• Mobile• Email

More recently we relied on “DIGITAL” advertising ….

Evolution of marketing.

TODAY WE MUST USE THE BEST OF BOTH WORLDS

STOPTraditionalmarketing doesn’t work.

It’s for old people.

• 84 % of Millennials take the time to look through their mail

• 64% would rather scan for useful information in the mail than e-mail

• 92% of 18- to 23-year-olds find it easier to read print over digital content

• Direct-mail marketing response is 37% higher than the email rate

• When making purchasing decisions, consumers trust print advertisements 34% more than they trust search engine ads

Traditional marketing doesn’t work.

It’s difficult to track

Specific tracking is possible.

• Top response rate tracking methods:

• PURLs (61%)

• Tracking Numbers (53%)

• Offer / Coupon (42%)

• Direct mail can boost the overall effectiveness

of a cross-channel effort

Traditional marketing doesn’t work.

It’s costlyEven if it is more expensive, there is a high return on investment.• Response rates jumped almost 3 times from just a

few years ago

Integration is challengingIs not an issue with integrated strategy.• Establish integrated strategy • Hold internal teams accountable to the strategy• Choose vendor/partners wisely

Above data from the Direct Marketing Association (DMA) and The USPS Household Diary Survey

Traditional marketing doesn’t work.

“I don’t need traditional marketing.

I have an effective digital campaign.”

Digital is critical.

• Demographic Targeting

• Real-Time Analysis & Optimizations

• Reach Your Target Audience Where They Are

• Personalized Messaging Based on Data

• Cost-Effective Mass Marketing

• Detail Tracking

• High Use Engagement Rates

• Easy and Effective A/B Testing

DIGITAL• Provides visibility

among active prospects

• Collects tremendous amount of data to reach audience where and when they spend time online

TRADITIONAL• Builds brand

awareness among passive customers

• Expands your customers base

• Used more for making purchasing decisions

Choose Best of Both Worlds…Choose 360° Marketing

Integrated Marketing

Omnichannel Marketing

360°Marketing

the process of delivering

a consistent, cohesive, continuous

and relevant content experience

to your audience across

multiple channels.

360° Marketing is…

also known as a way of looking at

the whole marketing process from

the view point of the customer.

360° Marketing is…

Why do

you need a

360° Marketing

Strategy?

“Good Old Days” Shopper Journey

Today’s Customer Journey is a Multi-Channel Experience...

visited leasing center

Improves Marketing Effectiveness

Boosts Performance

Increase Return on Investment (ROI)

Additional Benefits of 360° Marketing Strategy

• Email drive’s traffic to websites

• Direct mail prompt’s online search

• Tradeshows build email lists

• Targeted print ads find new customers & influence decisions

• TV reaches mass audience driving online search

• Radio drives online search and website traffic

Improves Operational Efficiency

Minimizes Interdepartmental Conflict

Reduces Costs from Duplication of Efforts

Additional Benefits of 360° Marketing Strategy

Builds brand equity with

consistent, clear messaging

across all touchpoints

reaching more buyers.

Additional Benefits of 360° Marketing Strategy

When was the

last time you took

a 360° look at

your marketing

strategy?

Print9%

Promo9%

Digital47%

SEO5%

PPC5%

Direct Mail5%

Tradeshow5%

Social5%

Advertising5%

Other5%

Print2%

Promo18%

Digital19%

SEO7%PPC

7%

Direct Mail19%

Tradeshow9%

Social9%

Advertising5%

Other5%

How Should Your Marketing Budget be Allocated?

suggests…

50% Brand DevelopmentWebsite, Blogs, etc.

50% Business Promotion Advertising, Events, etc.

How Should Your Marketing Budget be Allocated?

We like to start

at the beginning.

Real EstateSales or RentSingle Family Homes, Condos

TechnologyService or ProductRecruiting

LandscapingCommercial, ResidentialMaintenance or Install

FinancialBanking, MortgagesCommercial or Personal

EducationPrivate School, Higher EducationSeminars

Legal ServicesCorporate Law, Family Law

Accounting ServicesCorporate, Individual, Tax

IT ServicesSoftware, HardwareManaged IT Services

What Are You Selling?

Who is your buyer?

• How do they behave?

• What are the specific demographics?(age, social status, education & gender)

• Where do they work? Where do they live?

• What are your customers’ • lifestyles, values, needs, or opinions?• hobbies and interests?

• What are the key phrases or quotes they would use to describe their problems?

• What problems do they face that your company can solve?

• How will your product or service remedy these problems?

Define Your Target Audience?

Why do they

buy from you?

What Your Company Does Well

What Your Competitor Does

Well

What the Customer Wants

r

s

a x

• Your Experience

• Reliable Service

• Emergency Response

• Innovative Technology

• Guaranteed Services

• Faster

• Stronger

• Better Value

r

s

x

a

Losing ZoneYour competitors’\meets the customers needs

better.

RiskyCompetitive battleground.

Who Cares

USPClear points of difference that meets the customers’ needs.

Why do they buy from you?

SUCCESS!You now know

What

Who

Why

Print10%

Promo10%

Digital30%

SEO10%

PPC5%

Direct Mail10%

Tradeshow5%

Social10%

Advertising5%

Other5%You will know

how and where

to advertise &

what story to tell with a

complete 360° view.

Develop Your 360° Marketing Plan and Budget

Deliver your story through

consistent

cohesive

continuous

complementary content

across multiple channels.

CONSISTENT

COHESIVE

COMPLEMENTARY

CONTINUOUS 4 C’s

Craft & Communicate Your Story

Audit Your Existing

Marketing Materials

and TacticsLogo, Print, Digital, Tradeshow, Promo, etc.

Collaborate with Your

Internal Teams

Consult with Your

Vendors/Providers

Ensure Alignment

The foundation of your brand is your logo.

What does your logo say about you?

When is the last

time you updated

your logo?

What does your logo say about you?

Some brands even evolve their names

Is it Time to Update Your Logo?

Is it Time to Update Your Logo?

Control and Protect Your Logo.

SAMPLES OF

consistent

cohesive

continuous

complementary content

What should

you spend on

marketing?

suggests…

Percentage of

gross sales 3-5% start-up

2-3% existing

7-8% Less than $5 million

According to SBA

*assumes you have margins in the range of 10-12 percent (after you’ve covered your other expenses, including marketing).

If your margins are lower than this, then you might consider eating more of the costs of doing business by lowering your

overall margins and allocating additional spending to marketing. It’s a tough call, but your marketing budget should never be

based on just what’s left over once all your other business expenses are covered.

Industry CategoryMarketing Budget /

Revenue

Overall 6.90%

B2B Product 6.40%

B2B Services 6.80%

B2C Product 8.60%

B2C Services 7.30%

Industry CategoryMarketing Budget /

Revenue

Banking / Finance / Insurance 3.90%

Communication / Media 6.60%

Consumer Packaged Goods 11.00%

Consumer Services 17.40%

Education 18.50%

Energy 2.20%

Healthcare 6.20%

Manufacturing 3.20%

Mining / Construction 2.00%

Service Consulting 9.40%

Retail / Wholesale 3.80%

Tech/Software/Biotech 8.50%

Transportation 11.20%

CMO Survey conducted by Deloitte

THANK YOU THANK YOU