gner
TRANSCRIPT
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Marketing Strategy…and how to generate a far better return!
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Wake up call……….
• Owner Managed SME’s (£500k-£5m turnover)
– Most Common Scenarios• Stagnant sales – want to grow• Low or negative profitability• High levels of customer churn• Over reliance on small number of clients• Declining industry• Great concept – no-one knows about us!• Poor marketing ROI to date
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What is Marketing?
Understanding and fulfilling the
needs and wants of customers in a profitable manner
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Where do I start?
• At the beginning!
“Strategy without tactics is the slowest route to
victory. Tactics without strategy
is the noise before defeat.”
(Sun Tzu, 500 BC)
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Set some clear objectives…
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1. Understand what you offer2. Understand who are your target customers3. Understand their needs and wants4. Understand their behaviour5. Communication6. Fulfilment
Marketing Strategy……..
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How do I do this?
• Step back and look at your business from a client’s perspective.
• Analyse historical data (customers, products, trends)– Financial– Demographical– Seasonal
• Research your customer base – feedback• Research the marketplace• Research competitors• Set some clear objectives
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Company X
SALES HIRE
EDUCATION HOSPITAL LEISURECONSTR-UCTION
RETAILINSTALLERS
& FITTERS
FM TRADES
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Seem obvious??
1. Understand what you offer2. Understand who are your target customers
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Some Common Marketing Pitfalls
• Lack of clarity - what is my core offering• I target anyone who purchases my product…….. • Concentrate on the benefits not your activity or history• ‘I want’ mentality• Lack of purpose/objective• Know your environment (you are not in a bubble)!• No USP – just another supplier• Brand consistency – don’t look amateur• Text overload!• Understand the financials – average customer value• Test & Measure – is it generating a ROI?• Implementation plan!!• Be flexible – your market is continually evolving
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What to look out for when choosing a supplier?
• Do they start from square one – marketing strategy?
• Do they ask a lot of questions – or tell you how great they are?
• Do they take your answers at face value or use research and analysis to make accurate decisions
• Are they completely impartial – no vested interests in feeding other business units work?
• Do you understand what they are doing? It’s not a dark art!
• Do they talk about your Return on Investment?
• Long term partnership focused? Results guaranteed?
• Case studies with proven results - references?
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Any Questions?