master your marketing pnc talk 19 september 2013

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Presented by: Ethan Chazin President The Chazin Group Master Your Marketing

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How to develop compelling marketing that achieves your sales goals and is matched to your strategic goals.

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Page 1: Master your marketing PNC talk 19 September 2013

Presented by:

Ethan ChazinPresident

The Chazin Group

Master Your Marketing

Page 2: Master your marketing PNC talk 19 September 2013

What’s a “PRODUCT”

Page 3: Master your marketing PNC talk 19 September 2013

Know Your Customers

Page 4: Master your marketing PNC talk 19 September 2013

Align Your Marketing, Sales & Business

Strategies for Success.

Page 5: Master your marketing PNC talk 19 September 2013

Aligning GoalsYour Business Goals Your Marketing Goals

Increase market shareBy 15% this year.

Increase sales to existing clients by 20%.

Acquire 2 competitors with combined 10-15% market share.

Acquire 400 new clients.

Discontinue 30% of your existing product portfolio.

Launch minor league baseball advertising campaign.

Form 3 strategic partnerships. Integrate outdoor ad campaign in Central/No. NJ

Page 6: Master your marketing PNC talk 19 September 2013

Aligning Goals MARKETING’s YEAR-LONG “THEME”

CATEGORY STRATEGIESTarget Market

Positioning Statement

Offering to customers

Price Strategy

Distribution

Sales Strategy

Service Strategy

Promotion Strategy

Marketing Research

Any other component of your marketing plan

Page 7: Master your marketing PNC talk 19 September 2013

5Ps Meet 2Is:Individualization& Interactivity

Page 8: Master your marketing PNC talk 19 September 2013

• MASS CUSTOMIZATION means you have the ability to send out customized communications with MANY of your customers simultaneously.

• Your customers decide how much interaction they have with you through:– Social media– User forums/online user communities– Chat & Messaging– Email– Website contacts

Individualization

Page 9: Master your marketing PNC talk 19 September 2013

• The extent/amount of 2-WAY communication between your customers and you.

• The Internet gives your customers the power to engage with you in a way never previously permitted.

• Shift from broadcast 1-WAY dialog (TV & radio) to an interactive marketing dynamic which fosters debate, exchanges, and…

…CONVERSATION!

Interactivity’s New Paradigm

Page 10: Master your marketing PNC talk 19 September 2013

Kinds of Product

Page 12: Master your marketing PNC talk 19 September 2013

• Core Product Benefit: most basic value offered by your products.

• Basic/Actual: minimum product offering needed to deliver your core benefit.

• Augmented: Features that go beyond your customer’s basic expectations.

What’s a “PRODUCT”

Page 13: Master your marketing PNC talk 19 September 2013

Customer Needs

Page 14: Master your marketing PNC talk 19 September 2013

• STATED: inexpensive car.• REAL: car with LOW operating cost.• UNSTATED: good service.• DELIGHT: include a cool GPS system.• SECRET: your friends see you as a cool

and savvy consumer.

5 Needs

Page 15: Master your marketing PNC talk 19 September 2013

Pareto Lives

Page 16: Master your marketing PNC talk 19 September 2013

3 Types of ClientMercenary (87)

Loyalist (10)Raving Fan (3)

Page 17: Master your marketing PNC talk 19 September 2013

4 Stages of theCustomer

Relationship Model

Page 18: Master your marketing PNC talk 19 September 2013

The Relationship

Page 19: Master your marketing PNC talk 19 September 2013

You need different skills at different

stages of the sales process.

Page 20: Master your marketing PNC talk 19 September 2013

The Sales Process

Prospect Marketing Skills

Sale Solution Selling Skills

Repeat Customer Service Skills

ApostleRelationship Skills

Know Your Customers

Page 21: Master your marketing PNC talk 19 September 2013

• Customer relationships increase your

profitability 3 ways:– It costs less to service existing clients than to

generate new ones.– Existing clients are willing to pay a higher price for

your products and services.– Strong buyer-seller relationships increases the

likelihood that customers will share their personal information which can help you customize offerings and sell more effectively to them.

Value in Relationships

Page 22: Master your marketing PNC talk 19 September 2013

• Define the “expected” lifetime value of your customer.

• The PARETO Principle matters.• You MUST have a database of past customer

purchases.• A profitable/unprofitable client today is an

unprofitable/profitable one tomorrow.• Consider how many referrals they give you.

RFVP: Recency, frequency, volume & profit.

Determine Customer Value

Page 23: Master your marketing PNC talk 19 September 2013

Know Your Customers

• Goal: Identify and Study Your Top 20: – Create a Profile To Match Your Top 20– Use the RFVP Profile:• Recency Of Them Doing Business With You• Frequency of Them Doing Business With

You• Volume of Business They Do With You• Profit They Contribute (conduct an ROI)

Page 24: Master your marketing PNC talk 19 September 2013

What’s a “Brand?”

Page 25: Master your marketing PNC talk 19 September 2013

Is a Brand a PROMISE?

Page 26: Master your marketing PNC talk 19 September 2013

Memorable Invaluable

Unique

Page 27: Master your marketing PNC talk 19 September 2013

Brands Matter

Page 28: Master your marketing PNC talk 19 September 2013

• Reduces the cost associated with searching for products internally (how much to think about them) and externally (how much to look for them.)

• Define product/service qualities.• Present product/service characteristics.• Chance to “connect” with product maker.• Sign of “perceived” quality…PRESTIGE.• Help consumers organize their knowledge

about a product to clarify their decision-making and thus adds value to firms.

Brands Matter

Page 29: Master your marketing PNC talk 19 September 2013

• Savvy customers.• Brand proliferation.• Media fragmentation:– Cost– Clutter: 10-15 second spots join :30 & :60 spots– Fragmentation: Growth of independent stations &

cable– Technology: VCRs, Remote controls, TiVo

• Increased competition.• Increased costs.• Greater accountability by marketers to hit

short-term profit goals.

Branding Challenges

Page 30: Master your marketing PNC talk 19 September 2013

• You achieve different outcomes from the “added value” attributed to a product as a result of marketing the brand.

• You can create value for the brand in many different ways.

• Brand equity provides a common denominator for interpreting marketing strategies and assessing the value of a brand.

• There are many different ways in which the value of a brand can be exhibited or exploited to benefit the firm.

Brand Equity

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The Chazin GroupSeek New Markets

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• How Long Does It Take to Follow Up on a Lead? Set a Company Policy.

• Ask All Leads: How Did You Hear About Us?• Assign Campaign Reference Codes.• Use Unique Tel #s For Each Campaign to

Track Results.• Utilize a Lead Capture/Management System.• Custom Landing Pages.

The Chazin GroupProspecting

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• Develop a Strategic Networking Plan For Identifying, Engaging and Converting Prospects.

• Create a BEST Customer Profile.• Launch a “Give to Get” Referral

Strategy.

The Chazin GroupSeek New Markets

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Where Are Your Referrals?

The Chazin Group

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• For Small Businesses New Business Comes One of 3 Ways: 50% from existing clients 35% are referrals from existing

customers 15% from advertising efforts

85% of your NEW businesscomes from EXISTING business

The Chazin GroupPower of Referrals

Page 36: Master your marketing PNC talk 19 September 2013

Reward, Recognize, Retain Your Top Clients

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• Thank them.• Give gifts.• Discounts, coupons, special offers.• Honor outdated returns.• Encourage desired behavior.• Customer “Spotlights.”• Waive outstanding balances.

The Chazin GroupReward Them

Page 38: Master your marketing PNC talk 19 September 2013

• Maintain a robust database.• Keep in touch.• Encourage complaints.• Offer loyalty programs.• Do an amazing job!

The Chazin GroupClient Retention

Page 39: Master your marketing PNC talk 19 September 2013

• Create Action Plan to Develop Apostles:– Conduct needs assessment– Develop set of CUSTOMIZED solutions– Convince client to implement your

recommendations– Review annually– Target 12

Gain Apostles

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• 3 Steps to Gain Apostles:– Write down your apostles.– Say what it takes to keep them.– Define a list of clients to convert to

apostles:• 2X the Actual # Current Apostles• Follow Actions From Previous Step• Convert 50% Per Year Until Magic 12

Gain Apostles

Page 41: Master your marketing PNC talk 19 September 2013

• Learn Your Prospect/Client’s Top Pain Points• What Challenges Do They Face• Deliver Value at Every Stage of the 4-Step Sales

Process• Exceed Their Wildest Expectations• Empower Every Employee to do the Same • Account Penetration Strategy• Create Policy of “Standards of Care”

Sales Success

Page 42: Master your marketing PNC talk 19 September 2013

• Follow Your Customer Conversations Online.• Align Sales, Marketing, & Product Management.• Touch Them Several Ways.• Focus Your Presentations in Their Problems.• Become More Visible:– Attend Events, Trade Shows & Conferences– Get Published & Interviewed– Blog, Blog, Blog, Blog, blog, Blog, Blog– Serve on Roundtables & Panels– Engage In Social Media

Sales Success