Donegal CEB Marketing on a Shoestring Budget

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Presentation made by Nicola Lacey - Marketing on a shoestring

Transcript of Donegal CEB Marketing on a Shoestring Budget

  • 1. Marketing on a Shoestring Budget Prepared by: Nicola Lacey

2. Marketing your Business Marketing is not just about advertising ordesign its at the heart of making sure yourbusiness has the best chance of success. Great marketing should help you get and keepprofitable customers. 3. Marketing your Business The most successful businesses are those thatput the consumer at the heart of everythingthey do - so the key is to identify, attract andsatisfy consumers. The aim of marketing is tohelp you ensure that your business has (4 Ps): The right product or service At the right price In the right place and at the right time With the right promotion to your target market 4. 4/7 Ps of Marketing 5. Innovation In todays economy, the marketplace is crowded and the paceof change ever quicker. In this context, it is increasinglydifficult for companies to capture and maintain a competitiveadvantage. Consider the consumer context: when choosing food andbeverages, shoppers are presented with an overwhelmingnumber of options. Most consumer decisions are made withinseconds, out of habit rather than a rational appraisal of allthe possibilities. How do you therefore cut through the clutter sufficiently tomake people reappraise their choice, and consider yourproducts? Or indeed, if you are the market leader, how do youcreate sufficient distance between you and the competition inorder to hold onto your competitive edge? 6. Innovation Innovation provides a competitive advantage sobusinesses or economies that stand still and do whatthey have always done will lose out to those prepared totake the risk. Sir Terry Leahy, CEO Tesco The ability to keep your brand or product different andrelevant in consumers minds is vital to gaining andmaintaining a competitive advantage. Innovation is thetool to unlock this advantage. Innovation means continually improving andinvigorating your offer to customers. It is a way ofthinking that applies to all areas of yourbusiness, including products, servicedelivery, packaging, manufacturing and marketing. 7. Innovation Innovation can be small in scale, for examplemaking improvements to a product recipe, or itcould mean launching an entirely new product,range or brand. "Companies that ride the currents succeed; thosethat swim against them usually struggle. Identifyingthe currents and developing strategies to navigatethem is vital". McKinsey & Company 8. How to develop effective communication 1. Identify your target audience 2. Outline communication objectives 3. Create the message 4. Select channels of communication 5. Collect the feedback 9. Case Study 10. Quantified resultsTeam awards Finalists in 28 categories (2010)Winner of 18 awards across all disciplines 11. Excellence in executionMarketing communications 12. ATL Radio Sean Doherty Show Fix it Friday Sponsor County Game TV Expose Ear to the Ground Dragons Den Ireland AM The Apprentice 13. ATL Trade Magazines Cara Magazine Ryanair Inflight Magazine Local/National Press Out and About Pages Own personal column Outdoor Building Wraps Lorries / Vans Billboards 14. BTL PR Social Networks Flyers Blogging Merchandise Search Guerrilla Marketing Online Advertising Events Website Mobile Marketing 15. PR Public relations practice is the planned andsustained effort to establish and maintain good-willand understanding between an organisation and itspublics. Institute of Public Relations, UK. In summary: PR involves creative means of building reputation andcredibility. PR means effective, timely and targeted communication. PR relies on the principle that good business sets out toearn and keep the goodwill and support of its keystakeholders. PR means careful analysis of feedback and informationand the ability to adapt to changing circumstances. 16. PR Successful enterprises depend on a range ofkey relationships. Well-managed publicrelations can turn all these vital relationshipsinto assets for the organisation. Keyrelationships include: Consumers Investors Legislators The media Employees Neighbours 17. Flyers Cheap and Effective If clear message can be very worthy 18. Merchandise Depending on the situation but it might berelevant Think of your business is there a specificscenario where they may need your phonenumber/details? If so should you be there? 19. Guerrilla Marketing Guerrilla marketing is aimed at taking us bysurprise and intrude on our lives when we leastexpect it 20. Events Either organise an event to create custom foryour business Or use an event to maximise profits 21. Social Networks Can be really useful to any business if usedappropriately. Need to be committed. Need to be interacting with audience. 22. Blogging E-WOM is massive Be aware which user-generated websites yourcustomer is interacting with 23. Google Alerts 24. Search Need to understand how your consumer searches Need to ensure you are using the key words Google Insights 25. Search Engine Optimisation 26. Website Google Analytics 27. YouTube - Website Use of Video can be very effective Picture paints a thousand words 28. Mobile Marketing Text Messages Mobile ApplicationsBy end of 2011 there were 6 billion mobile subscriptions 87% of population (Source: ITU)- Mobile Subscription has reached saturation point indeveloping countries Use of mobile phoneBy 2014, 76.9 (Europe) -2011billion downloads 28% browserin US and will be 28% appworth US$35 83% - textbillion 29. Other Loyalty Schemes Business Development Database of Potential Customers Database of Current Customers Sales Beat on the Street Referral Schemes CRM Gifting Thank you message 30. Measuring It No point in spending money on marketing ifyou do not know it is working Measure it! Ask people how they heard about you! Try and track spend.Outdoor Press 31. Measures that Drive PerformanceNet Promoter Score Balance Score CardBy asking one simple question The balanced scorecard is aHow likely is it that you wouldstrategic planning andrecommend [your company] to amanagement system that is usedfriend or colleague? you can extensively in business andtrack these groups and get a clear industry, government, and non-measure of your companysprofit organizations worldwide toperformance through your align business activities to thecustomers eyes. vision and strategy of the organisation, improve internal and external communications, and monitor organisation performance against strategic goals. 32. Key Take Aways You should make a pact that you do at leastone thing per week for your business that isdriving it in some way Keep it simple it does not have to cost afortune to be innovative Reinvent yourself - Einstein once said thedefinition of insanity was to keep doing thesame things and expect to get different results