2016 Symposium for the Marketing of Higher Education Schedule
Business Accelerator Symposium Marketing
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Transcript of Business Accelerator Symposium Marketing
11
Getting Started: Creating Your Marketing Strategy
2
Sales, Marketing . . . What’s the difference?
• Marketing
> Roadmap
> Reach and persuasion
> 4 P’s
> Awareness, Qualified Leads
> Long term view
• Sales
> Vehicle
>Close the deal
> 6 Steps
>Revenue
> Short term view
3
Why build a marketing plan?
4
Why build a marketing plan?
5
Why build a marketing plan?
6
Why build a marketing plan?
7
Why build a marketing plan?
Downloaded from Flickr, Does Fanta taste better in plastic? Tim Kiser
8
So what would your billboard say?
Downloaded from Flickr, Blank Billboard, mediaboytodd
9
Getting Started
Why SWOT?
•Set the baseline of knowledge
•Find the gaps
•Determine positioning and messaging
•Prioritize opportunities
10
Getting Started
Who should be in the SWOT?
•The front line
•The executive team
Who else should you SWOT?
•Your competitors
11
Bio Tile Grout & Restoration - SWOT
Attributes stated in the Bio Tile case are for example only and may not be factual.
12
Bio Tile Grout & Restoration
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Voice of the Customer
In-depth Interviews with Customers & Industry Experts
• Discover if your perceptions of your business is on track
• Discover how the competition compares
• Discover your strengths that really set you apart
• Discover areas for improvements
• Discover the needs and supplier attributes your customers are looking for
14
Voice of the Customer
Who should conduct them?
• You should ask
• But a 3rd party should conduct the interview
How many interviews and what type of customers?
• 6 to 8
• Happy and not-so-happy customers
15
Swimming with Information
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Pull out the unique strengths, the must-fix weaknesses, and the best revenue generating opportunities
SWOT Key Highlights•Internal SWOT•Customer interviews•Expert interviews•Secondary research
17
Sweet Spot
• Businesses that require “real clean” or sanitization
• Willing to pay for a real clean because it is important to their business and their customers
• Public needs to perceive a “hygienic” clean
Downloaded from Flickr, Dare, Kristene
18
Key Components of a Marketing Plan – Next Steps
1. Prioritize Your Opportunities
2. Study the Target Audience
3. Determine Needs/Features/Benefits
4. Define Your Value
5. Establish Your Positioning
6. Craft your Key Messages Downloaded from Flickr, Marketing Plan and 2HPDA setup, Ema Studios
19
1. Prioritize Your Opportunities
Name of Opportunity
Size of Opportunity(Deal size $, Number of deals)
Strategic Fit (see SWOT)
Critical Success Factors
Inter-relationship with other opportunities
Ranking
Healthcare High High ID administrators Also day care and animal care
1
Residential Med Low Upscale homes 6
Schools High High Approved vendor listRed tape
2
Municipal High High ID decision makersRed tape
3
Retail Small Low Corporate approval
5
Lobbies – Hotels, Banks, Theaters
High Med ID Property Manager
4
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2. Get to know your audience and never forget them
DemographicsFirmographicsPsychographics•Attitudes•Behaviors•Lifestyles
Break the wall of distraction
Focus on the selected opportunity
Target the messaging
21
3. Needs – Features - Benefits
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4. Value Proposition
Bio Tile’s Deep Clean leading edge, bio-friendly process kills twice as much
bacteria as soap and water
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What makes a good value proposition?
• Weak Value Propositions
> It's the most technologically advanced and robust system on the market.
>We improve communication and morale.
>We offer training classes in a wide variety of areas.
>My product was rated the best-in-class by leading authorities
So what?
24
What makes a good value proposition?
• Strong value propositions deliver tangible results like:
> Increased revenues
> Faster time to market
> Decreased costs
> Improved operational efficiency
> Increased market share
> Decreased employee turnover
> Improved customer retention levels
Think numbers.
25
5. Positioning
The Battle For Your MindTrout & Reis
A product’s position is the place it occupies in the
customer’s mind.
26
Effective positioning
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Positioning
The Process
1. Identify competing products or services
2. Identify the attributes or dimensions that define the product space
3. Understand how customers perceive each product in the product space
4. Determine share of mind
5. Determine your sweet spot, your positioning
28
Positioning Grid
Affordable
General cleaning
Flexible
Specialist in tile
Sanitizing
Service Master
Acme
Tile Cleaners
Independent janitorial service
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Positioning Formula
• OUR [offering]• IS THE ONLY [category]• THAT [benefit].
What makes a good positioning statement?
•Unique
•Narrow
•Affordable
•Durable
•Believable
30
A Tag Line – Is it necessary?
A tag line should support your value proposition and positioning.
>Who are your customers?
>What benefits do you give your customers?
>What feelings do you want to evoke?
>What action are you trying to generate?
>How are you different from your competition?
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Bio Tile Tag Line
More than clean
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6. Key Messages
• Bolster your positioning with supporting claims
• Reinforce the importance, uniqueness, and the believability of the positioning
• Support, don’t distract from the positioning>Common mistake: positioning on one thing and
sending price as the key message
• Benefit oriented – use your Needs/Features/Benefits table
• Use the Rule of 3
• KISS – “short and simple”
33
Marketing Speak
• "Gunther Gore; horse thief. Sent to Tennessee Prison 1883, escaped 1887. Robbed the Tennessee Flyer six times. Caught by Pinkerton detectives, convicted and hanged in 1889."
Downloaded from Flickr, Cowboy, Stoneth
34
Marketing Speak
• "Gunther Gore was a famous cattleman in early Tennessee history. His business empire grew to include acquisition of valuable equestrian assets and intimate dealings with the Tennessee railroad company. Beginning in 1883, he devoted several years of his life to service at a government facility, finally taking leave to resume his business enterprise with the railroad. In 1887 he was a key player in a vital investigation run by the renowned Pinkerton Detective Agency. In 1889 Gunther regrettably died suddenly during an important civic function held in his honor when the platform on which he was standing collapsed."
35
In Summary, what do we have?
What We Do – Positioning Statement
Who We Serve – Target Audience(s)
How Customers’ Benefit – Value Profile
Identity
36
Let’s talk
• The Break Room at amfambusinessaccelerator.com
• Blogging
>Growth Coach Forum
>Small Business Right Now
Extra!Creative Brief
37
Let’s share
Share your experience. Upload your photos and
videos.