state of the business owner accelerators webinar, july 12

State of the Business Owner 2012Marketing & Technology Accelerators

Accelerators WebinarJuly 12, 2012

333 SW Fifth Avenue, Suite 350 | Portland, OR 97204 | 800-620-0307 | www.synotac.com © Synotac Design, LLC 2012

Presented by:Cameron Madill, President and Founder, Synotac

Jed Bickford, Director of Marketing, EMyth

Presenters

For Guides & Additional Resourceswww.stateoftheowner.com

Cameron Madill Jed Bickford

President & Founder, Synotac

Director of Marketing,EMyth

Webinar Questions & Comments

Twitter Hashtag: #sobo2012

GoToWebinar chat

Background

KEY #2 - ACCELERATORS

State of the Business OwnerGoal: Learn about the success factors helping small and midsize businesses succeed in 2012

Research gathered from a study of 802 business owners in early 2012see the full research report at stateoftheowner.com

The Planner and The Pessimist

Businesses owned by Planners...Grew faster in 2011Had higher annual revenuesWere more profitableWere more optimistic about 2012

The Three Keys to the Growth Engine

Fundamentals Accelerators People

Accelerators:Marketing & Technology

"Half the money I spend on marketing is wasted; the trouble is I don't know which half."

- John Wanamaker

4 out of every 5 dollars spent on marketing by small and midsize companies are wasted

"Because the purpose of business is to create a customer, it has only two basic functions: marketing and innovation....marketing is the distinguishing, unique function of the business."

- Peter Drucker

A Tale of Two Entrepreneurs

Greg Crabtree

Business Owner #2

A Tale of Two Entrepreneurs

Marketing & Technology Research

What do you do?

Critical Marketing Questions1. WHO does your marketing implementation?

2. HOW MUCH do you budget for marketing?

3. HOW do you decide what to do and monitor results?

Primary Marketing Resource

Marketing BudgetsThe size of the marketing budget did not have a substantial impact on growth rates.

The average budget was 5.9%, and we found a range of budget sizes at all growth rates.

Takeaway: Spend what is right for your business to reach your objectives.

Marketing Planning & MonitoringDo you have a marketing plan that you revisit at least quarterly to evaluate results?

Marketing and Planners

Only 35% of respondents had a marketing plan they evaluated at least quarterly.

Last Website Redesign

Percentage of leads from digital

How to Use Technology to Accelerate Your Growth

It can measure business results, leading to insights and opportunities

It can measure business results, leading to insights and opportunitiesIF you know why those numbers matter and how to change them

It can give you access to prospects you could not afford to reach

IF you understand who your prospects are and what problem

you solve for them

Great Companies and Innovation

Monitor Your Results Effectively

Measurement and SuccessBusinesses that monitor their lead generation and website analytics outperformed those that did not:

- They grew 20% faster in 2011- They are twice as optimistic about 2012- They generated 30% more revenue overall

Why Does Measurement Fail?

1. Don’t setup meaningful goals because you don't know benchmarks (what’s realistic and possible)

2. Don’t know how to improve what you are measuring (access to resources)

"Insanity: doing the same thing over and over again and expecting different results"

Albert Einstein

Educate Your Customers

Reaching customers before they decide to buy

What do those 97% want to hear about?

Product data vs. market dataAs soon as you start talking about product data, 97% of the audience stops listening and you lose permission to keep marketing to them.

Examples3 reasons you need to buy a super computer VS.How top research labs increase productivity without buying anything

5 ways a logistics company can improve your supply chain VS.Free online tool to calculate the easiest way to route products to Asia

4 ways that a translation company saves you money VS.Use our free reading level calculator to reduce translation costs and increase accuracy

Educational Marketing

Focusing on your customers' needs before they are ready to buy allows

you to build a relationship before they start price shopping

Stephens Margolin

The Digital Marketing Ecosystem

4 out of every 5 dollars spent on marketing by small and midsize companies are wasted

Marketing and Planners

Only 35% of respondents had a marketing plan they evaluated at least quarterly.

Accelerators Resources

Free Resources: synotac.com/resources

Trainings: synotac.com/trainings

Assessments & Services: synotac.com/services

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