business development 2010 accelerating success through marketing webinar series: 3.0 presented by...
TRANSCRIPT
Business Development 2010Accelerating Success Through Marketing
Webinar Series: 3.0
Presented by Don Neal
January 26, 2010
It’s not the big that eat the small, it’s the fast that eat the slow!
How Fast Have You Been Moving?
1. Lock-in Webinar #3 - check!
2. Your role as champion (ID who needs to be sold)
3. Dedicated notebook
4. Segment your database
5. Determine acquisition costs
6. Determine your marketing and sales ROI
7. Assign a full time staff to marketing
8. Allocate 3+% of sales to 2010 marketing investment
9. Identify current marketing activities that drive awareness, leads, referrals, cross-sell and up-sell
10. Begin to develop your 2010 marketing plan
So…How Did We Do in the Past 2 Weeks?
1.Proof of effectiveness – metrics; marketing investment
2.Where to invest
3.How to invest
Sales Objectives & Metrics
• Profitable revenue growth• 100% share of spending• Revenue / technician• Revenue / profit per location• Revenue / profit per customer• LTV• Sales /acquisition costs• Servicing costs
Q1 Marketing Objectives
1. Identify the best business opportunities within the top 20% of current customers
2. Develop key account development plans
3. Produce a measureable ROI; target 10:1
An audience will forget
87% of what they hear in a presentation within a month.
So – what is the 13% you’ll remember and what will you do about it?
Our Focus This Afternoon
• Your value proposition, USP and offer-market-match
• Your brand promise
• Media – why it matters, what you need to know and how to get started
The Discipline Of Market Leaders
Your Center Of Gravity?
• Operational – Wal-Mart supply chain and logistics (RFID)
• Product – Apple create and commercialize (Auto Prototypes)
• Customer – Google focus and management
Michael Treacy and Fred Wiersema
What is your firm’s center of gravity?
The purpose of business is to
acquire and retain a customer.
Peter Drucker
There is only one marketing absolute…
The Truth!
People hire products and services to do a job!
What job do your customers hire you for?
People don’t want to buy a quarter-inch drill. They
want a quarter-inch hole.
Theodore Levitt- Harvard
Brand ConsumerWhat is your promise? What are the expectations
of your customers?
The Value Proposition
V=Q/P _____ + _____ + ______ +
Value =
Quality
Price
Where . . .
Q = Performance + Selection + Convenience
+ ____________
Airlines
Q = dependable
+ no-hassle
+ happy employees
+ strong financial performance
Harris Interactive
USP
Beatty’s Custom Hardwood Floors
“Specializing in hardwood floors”
A USP is required for customer
loyalty.
High Price
Low Quality
Positions High Quality
Low Price
Feasible Positions
Feasible Positions
Women buy everything!
DIY – 80% Cars – 90%
Your next best customer is the one you already
have!
The only research question that
matters!
Would you recommend to your friends/business
associates?
Why/Why Not?
What do your customers think of when they interact with your brand?
What do you think of…
Customers Buy For Three Basic Reasons
1. Financial (Save $; Make $)
2. Relationships (Buy from people they like)
3. Avoid Risk (regulatory, legal, etc.)
You Said…
1.Relationships 64%
2.Financial 32%
3.Regulatory 4%
There are no business relationships only personal relationships that happen in a business context!
Build Relationships Before You Need Them.
The New Media Environment
Most effective influencers• Word of mouth 75.2%• Coupons 57.6%• In-Store promotion 55.0%• TV/cable 50.6%• Newspaper inserts 45.4%• Newspaper 39.0%• Radio 34.4%• Yellow pages 27.3%• Direct mail 26.7%• Magazines 27.5%• Internet advertising 21.6%• E-mail advertising 19.4%• Billboards 13.6%
DMA Response Rate Study
Medium Consumer %
B-to-B %
Direct mail 2.40 2.14Dimensional 5.18 5.14
Catalog 2.42 1.05
Email 3.58 2.66
Inserts .048 0.34
Telephone 5.79 5.53
Magazine 0.27 0.09
CRM Sales and Marketing Process
Historic $
Potential $
Name
Name
Name
Site Individuals Purchase Drivers Opp./Problem Media &Communications
Plan
Price
Quality
Service
Tech. Support
ConsolidateSuppliers
New Departments
Offer
Offer
Offer
PhoneFaxWeb
CatalogFace-to-face
Orderdesk
CFT
Sales
A1
A2
A3
B1
B2
B3
C1
C2
C3
PurchasingAgent
Influencer
EndUser
DM
Infl.
Message
Message
Message
Message
Message
Cross-sell
Up-sell
AggressiveBid
Response
Retain
DifferentNeeds
Segment Function Role Customized Response
TargetingCustomized
Communications Transaction
The Marketing Plan
1. Background & Situation Analysis: SWOT, competitive analysis, your USP and value proposition, what’s worked and what
hasn’t 2. Objectives, Metrics & Reporting: from our last webinar
session
3. Budgeting: % of sales, staff allocation, ROI based
4. Customer Database Segmentation: from our last webinar
5. Key Account Planning
6. Message & Media Framework
Survey Says…
If There Was One Thing I could Change About Our sales organization it Would Be:
“Develop a structured approach to sales”
Selling Buying
Targeting
Inquiry
Qualification
Needs Assessment
Proposal/Quote
Close the Sale
Customer Service
Individual Needs
Solutions
Options
Decision Process
Purchase
Re-Purchase
What is Marketing?
A process that creates conditions for a sale to occur…and an on-going relationship to
be cultivated!
The Nervous System of a Marketer!
The Soul of a Salesperson!
Today is Tomorrow’s Yesterday
Join us on February 9 for our last program on
“Closing the LOOP”
To Register, go to member-only section of
www.mscastar.org
