FINANCIAL SERVICES MARKETING – BUILDING A NETWORK OF PARTNERS, CAMPAIGNS AND THOUGHT LEADERSHIP

Martina Macpherson, Managing Partner, Sustainable Investment Partners

CONTENT

• Introducing Marketing

• Defining Marketing

• Building a Brand

• Vision, Mission, Values -…

• …Strategy

• Approach

• Old versus New

• Tactics

• Measuring Success (ROI)

• From Theory…

• …To Success

• Further Reading

INTRODUCING MARKETING

• How do you Describe the DNA of Successful Businesses:• Innovative.• Nimble.• Obsessively focused on customers.• Great story tellers.

• And What about Marketing ???

DEFINING MARKETING

1st: What Type of…

Marketing?

2nd: And How to Get Started…?

BUILDING A BRAND

What’s a Successful Brand?

• Successful brands don’t just sell a product –They also sell an identity.

• Brand is the identity that an organisation or product presents to the world -It goes beyond just a logo. 

• From a consumer’s perspective, brands are about personality -Who? What? How?

• A successful brand promise meets its target audience(s) – Who? (‘Audience’) – What? (‘Strategy statement’)?

VISION, MISSION, VALUES - …

How Do you Get Everyone Involved – And on Board?• Mission –

Goals and core purpose in the organization’s ‘domain.

• Vision -Aspiration for the business - in serving the mission.

• Values -Significant contributors to the mission & vision (= ‘organization’s culture’).

• Strategic Beliefs – Premises

• Strategic Enablers - Tools

• Strategic Norms - Policies

• Strategic Initiatives - Actions

STRATEGY

…STRATEGY

• What are Marketing Strategies about?• Marketing Plans –

• Filling market needs and reach marketing objectives.

• Multi-year plans, with a tactical plan detailing specific actions & tested for measurable results.

• Internal and External Environments – • Internal = ‘Marketing Mix’ to determine the

marketing budget and how to allocate across the ‘Mix’, plus performance analysis and strategic constraints.

• External = customer analysis, competitor analysis, target market analysis.

• A company's overarching Mission Statement.

APPROACH

• Marketing Planning – What are the First Steps? • Situation Analysis –

understand your customers• (SWOT) Analysis / Marketing Audit -

where are we now?• Objectives - Create sustainable Objectives:

where do we want to go?• Strategy: Segmentation -

segment your customer base• Strategy: Positioning -

target new customers & position the business• Tactics and Action –

create the marketing action plan• Control –

monitor, manage and improve

MARKETING MIX

OLD VS NEW

Rethinking the ‘Marketing Funnel’• Marketing – A ‘Hierarchy of Effects’?• Awareness (of the ‘Product

Category’) • Consideration (of a future

‘Purchase’)• Preference (for a model or ‘Brand’)• Action (making the ‘Purchase’).

• As the importance of customer retention became better understood, a fifth stage has been added: Loyalty.

• Today, engaged customers take on the role of brand ambassadors and spread their own positive messages online: Advocacy.

TACTICS

What are ‘Successful Tactics’?

• Strategic Partners & Networks - across sectors, geographies & segments

• (Online) Campaigns & Events –including Brand, Sales, Product and Thematic Campaigns

• Thought Leadership & PR –to establish, communicate and maintain a strong message

• Don’t forget… Strong Visuals – ‘a picture speaks more than a 1000 words’…

MEASURING SUCCESS (ROI)

How Can We Measure Success?

• Although cross-channel attribution is a nascent market, Forrester* has identified providers that support it:• Adobe, ClearSaleing, Convertro,

GroupM, and Visual IQ

• In addition, some providers offer (free) online analytics stats:• Google Analytics• LinkedIn Analytics• Topsy (Social Media Analytics)

Stats, Stats, Stats…

*The Forrester Wave™: Interactive Attribution Vendors, Q2 2012 Report

FROM THEORY…

Who, What, Where, How… Some Marketing Theories:1. Value Innovation and The Value Curve – how to innovate

change.2. Porter's Five Forces of Competition Framework – market

entry strategy.3. Market-Oriented Ethnography – observing consumer

behaviour.4. Brand Personality Dimensions Framework – measuring brand

personality.5. Hierarchy of Effects Models – the effect of ads on consumers.6. Service Mapping – how to improve customer service.7. Brand Relationship Spectrum – how to manage branding

strategies.8. Change Equation - changing the culture to match the brand

promise.9. Doyle's Five Criteria for Segmentation - criteria for market

segmentation.10. Conjoint Analysis – what attributes & factors are most

important.

…TO SUCCESS

So how can we Define ‘Successful Marketing’?

• ACCESS - be faster, be easier, be everywhere, be always on.

• ENGAGE - become a source of valued content.

• CUSTOMIZE - make your offering adaptable to your customers' needs.

• CONNECT - become a part of your customers' conversations.

• COLLABORATE - involve your customers at every stage of your enterprise.

• Last but not least, PAY ATTENTION – to build a sustainable, impactful and long-term marketing strategy.

FURTHER READING

STRATEGIC NETWORKS. CAMPAIGNS. THOUGHT LEADERSHIP.• David L. Rogers, The Network Is Your Customer: Five Strategies to Thrive in a Digital Age, 1st

edition, Yale University Press, 2011

• Eric Worre, Go Pro - 7 Steps to Becoming a Network Marketing Professional, Network Marketing Pro Inc., 1st edition (May 1, 2013)

• David Meerman Scott, The New Rules of Marketing & PR: How to Use Social Media, Online Video, Mobile Applications, Blogs, News Releases, and Viral Marketing to Reach Buyers Directly, Wiley; 4 edition (July 1, 2013)

• Jay Conrad Levinson, Guerilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business, Houghton Mifflin, 4th Upd Exp edition (May 22, 2007)

• Al Ries and Jack Trout, Positioning: The Battle For Your Mind, McGraw-Hill; 1st edition (December 13, 2000)

• Michael E. Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors, Free Press; 1 edition (June 1, 1998)

• Sean Platt and Johnny B. Truant, Write. Publish. Repeat. (The No-Luck-Required Guide to Self-Publishing Success), Sterling & Stone (January 1, 2014)

• Philip Kotler and Kevin Keller, Framework for Marketing Management, Prentice Hall; 5th edition (March 3, 2011)

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BUSINESS HAS ONLY TWO FUNCTIONS – MARKETING AND INNOVATION. MILAN KUNDERA.

MARKETING IS THE ART OF GETTING PEOPLE TO CHANGE THEIR MINDS. JAY CONRAD LEVINSON.

Thank you – for further information, please contact martina.macpherson@gmail.com