sobo 2013 path to growth webinar

State of the Business OwnerCreating the Perfect Marketing Mix

Using Marketing and Technology to Create Sustainable Growth

Presenters

Cameron MadillCEO

PixelSpoke

Liz DavidoffStrategic Partnerships

Conversation

Tweet to #sobo2013

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Questions answered throughout, and at the end

State of the Business Owner 2013stateoftheowner.com

About the Study

Over 1,700 business owners responded to a 60 question survey in early 2013. Companies from over 80 different countries participated, ranging from sole proprietors to those with hundreds of employees, with an average revenue of $4.7M (US)

Statistical analysis was conducted using advanced modeling techniques.

Report, Webinar Recordings & Slides

Think You Know SMB Marketing?

Marketing and Lead Generation

75% of businesses said that their marketing is not

producing enough leads to meet their revenue goals

Marketing and Sales Alignment

63% of businesses said that their marketing does not

effectively support their sales efforts

Marketing and Technology

61% of businesses said that they are not effectively

using digital techniques to create new leads

Marketing and Planning

59% of businesses did not have a

written marketing plan

Marketing and Measurement

58% of businesses evaluate the effectiveness of their

marketing efforts less than every 90 days

Marketing and Existing Customers

38% of businesses had no plan to generate additional

revenue from current customers

Marketing and Budgets

0% increase in revenue growth or profitability

based on the size of marketing budget

Marketing and Tactics

0% increase in revenue growth or profitability

from using any single specific tactic

Defining SuccessfulMarketing

Success Factors in Business

1. I am happy with my business2. I feel in control of my business3. My business hit its profit targets4. My business grew faster than the industry average

Success Factors in Marketing

Our marketing is producing enough of our target prospects to meet our revenue goals

Strongly correlated with all 4 business success factors (revenue growth, profitability, happiness, and control)

The Villain

Chocolate Cake?

The Two Challenges

Just like baking a cake, we have two key tasks in effectively marketing our companies:

1. Pick the right ingredients (techniques)

2. Combine them in the right order and quantity

Even if you have these...

...you still might end up with this

The Perfect Marketing Mix

Success Stories

Direct Plastics

Marketing Planning

Businesses that had a written marketing plan grew 10%

faster than those that did not, and were 62% more likely

to hit their profit targets

Plan AND Do

Businesses that monitor their brand online

Tip #1 - Advanced Analytics

Tip #2 - Site Speed

Tip #3 - Educational Emails

Penguin Computing

Tip #1 - Sell with Stories

Experiential vs. Material Purchases

People derive much greater satisfaction from experiential purchases, and are consistently willing to pay more money for them.

Tip #2 - Retargeting

Tip #3 - Try Different Offers

Stephens Margolin

The Importance of Technology

Top 5 trends affecting business owners

1. Technology2. Online3. Economy4. Competition5. People

BBs...then Cannonballs

Not Every Idea Succeeds

Tip #1 - Rich Snippets

Tip #2 - Reviews Matter

Tip #3 - Build an Online Experience

Great Marketing is a Habit(not a Series of Events)

The Power of Habit

The Wisdom of Experience

Those who had owned 3 or more businesses were...

58% more likely to be generating enough leads to meet their revenue goals

50% more likely to have a written marketing plan

45% more likely to measure results at least weekly

A Business Is a Body in Motion

Image Copyright Universal Studios

Next Steps

Create the right marketing mixin two steps:

● Step One: Create a marketing plan with clear priorities

● Step Two: Commit to healthy marketing habits, including measurement, BBs...then cannonballs, and effective use of technology

Marketing Action Plan (MAP)

www.pixelspoke.com/resources

New BBs To Try

www.pixelspoke.com/insights

To ask questions, tweet to #sobo2013Or use the chat feature in GoToWebinar

Upcoming Webinars:September 17 - Ownership Stack DiagnosisWe'll email you with updates

sobo 2013 path to growth webinar

business owners

successful marketing

people state

control state

end state

quantity state

retargeting state

villain state

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