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Marketing to Grow Your Business...Ideal Customers Become repeat customers Grow loyal to your...
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Marketing to Grow Your
Business
April 2019
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SCORE Offers Workshops on over 40 topics Here are a few of our most popular courses
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Today's Agenda
9:30 WELCOME & INTRODUCTIONS
9:45 FOUNDATIONAL MARKETING (includes a short break half way through)
11:45 LUNCH/INFORMAL Q&A
12:30 BUSINESS PROMOTION (short break)
2:30 MARKETING DRIVEN SALES
4:20 EVALUATIONS AND ADJOURN
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Note, session start times are general guideline and may change
Small Business Success
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1. Identify a narrow and “rich” niche of Ideal Customers
2. Define a Value Proposition that differentiates your offerings, one that will play well to your Ideal Customers
3. Define a Promotion and Sales Strategy based on this value proposition, targeting your Ideal customers
4. Define tactical promotion, sales and service steps based on #3 and execute these within a repeatable and sustainable “system”.
II. Business
Promotion
III. Marketing
Driven Sales
Marketing & Sales Roadmap
Class Roadmap
• Who is your Ideal Customer?
• Is your Value Proposition well defined, compelling & targeted at your Ideal Customers?
• Does your marketing infrastructure add value to your Ideal Customer and make it easy for them to learn about and interact with you?
• What Channels are the most effective? What Messages?
• Are your efforts attracting your Ideal Clients and making it easy for them to advance through the sales pipeline?
• How are you testing & measuring success?
Each step builds on the prior step
• What are your sales (and margin) goals?
• What are you doing to improve your close rate and “stickiness”?
• What are you doing to increase repeat business and referrals?
• How are you dealing with objections?
• How are you measuring this?
I. Foundational
Marketing
Areas of primary focus for this class are in bold
Establishing the Marketing
Foundation
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• Who is your Ideal Customer?
• Is your Value Proposition well defined, compelling & targeted at your Ideal Customers?
• Does your marketing infrastructure (web site, SEO, content, communication, etc) add value to your Ideal Customer and make it easy for them to learn about and interact with you?
Your Ideal Customers
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1. Who are your Ideal Customers?
2. What problem would your Ideal Customers say you are you solving?
3. What would they say you do well? Your primary competitors do well?
Ideal Customers
Become repeat customers
Grow loyal to your business
Refer your business to others
Low maintenance and support
Upgrade to higher margin offerings
4. What are you doing to reach prospective Ideal Customers?
5. To keep in touch with past Ideal Customers?
6. What makes your Ideal Customer keep coming back to you? How can you leverage this to grow your business?
Breakout: Know your Ideal
Customers
• Break into small groups
• Select one item from the prior slide where you need
help. If your “hot” item is not on this list pick your hot
item
• Each group member will share their item with their
small group (max 5 min./person)
15 minutes
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Target your Value Proposition to your
Ideal Customers
• Focused on what your Ideal Customers Value
• Plays to your strengths
• Differentiates you from your competition
• Creates an emotional attachment
• Ideally is difficult for your competition to duplicate
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Do you have a compelling Value Proposition?
Breakout: Value Proposition
• Break into small groups
• Take turns stating your Value Proposition Statement to members of your group. (no more than 5 min./person).
• Group members offer critical suggestions to make the speaker’s Value Proposition more impactful. Things to consider when you are listening:
– Did you “get” the value that the speaker was trying to convey? Was it short, powerful and to the point?
– What did you like/dislike?
– What improvements would you recommend?
15 minutes
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GET LUNCH AND
BRING IT BACK
(30 MINUTES)
Quotes to Think About • “Do one thing every day that scares you” – Eleanor
Roosevelt
• “We are what we repeatedly do. Excellence then is not an
act, but a habit” - Aristotle
• “Experience is a hard teacher, because she gives the test
first, the lesson after” – Vernon Law
• “Your most unhappy customers are your greatest source of
learning” – Bill Gates
• “You often meet your fate on the road you take to avoid it” –
French proverb
• “What we fear most is usually what we most need to do” –
Tim Ferriss
Business
Promotion (aka “Marketing”)
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Presenters
Ed Shanahan & Ellen Brotman
Establishing Effective Promotion
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• What 2-3 Channels are the most effective to reach your Ideal Customers/Prospects?
• What Messages and frequency are the most effective in getting their attention and engagement?
• Are your efforts making it easy for your Ideal Customers to advance through the sales pipeline?
• How are you testing & measuring success?
What is the Purpose of
Business Promotion?
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“Getting someone who has a need, to know, like and trust you” . – John Jantsch, Duct Tape Marketing
(1) “Duct Tape Marketing” – John Jantsch (2) Note: Jantsch refers to this as Marketing. More accurately it is Promotion and that is the term we will use
Where to Start in Promoting your
Business?
Step 1 Who is your Highest Priority Audience for your next promotion?
* Always fits the profile of your Ideal Customer
Where to Start in Promoting your
Business?
Step 2 • What is your Desired
Result for this promotion? • Desired results often
include a Call to Action (CTA)
Where to Start in Promoting your
Business?
Step 3 • What Message do you
wish to convey in this promotion?
• Effective Messages always evoke an emotional response
Your message should play to your strengths and resonate with your Ideal Customers
Where to Start in Promoting your
Business?
Step 4 • What Channel will you
use to deliver this message?
• If you pick more than one, what will you need to do to tune the content for each channel?
Successful Business Promotion Example #1: B2B
Highest Priority Key contacts in DC Area prime contractors who are bidding on Department of the Army contracts in the IT Security Consulting space and lack depth of expertise and/or bodies. Have narrowed this to Key Contacts within 10 Ideal Customers. Cold Calls.
Desired Result Gain introductions and set up face to face meetings and begin to establish a relationship with the Key Contacts. Gain introductions to their teams. Get added to their list of preferred sub-contractors.
Message Subtle, but: We know our stuff, we can help you win business, we can help you deliver results, we can help you look like a rock star
Channels Networking using contacts and LinkedIn intros. Expect that it will take multiple interactions and time before gaining introduction to Key Contacts. It may take months to complete this promotion with the first prospect.
The Company Small IT Security Consulting firm wishes to break into the DoD market
Successful Business Promotion Example #1: B2C
Highest Priority DC Area Tech executives in their 50s who wish to move up the ladder but are concerned they may be considered “old”. They may have a professional headshot, but don’t like it or the image it portrays. Want a modern and more edgy look. Cold Calls.
Desired Result Close the deal with 10 new customers within 30 days of launch
Message You are not old. Your experience and vitality are your strengths. Together we will improve your brand and marketability. We have a limited time offer. Those selected will receive a rebranding “makeover” and a free headshot and the opportunity (but not the obligation) to buy additional images and services. Join us!
Channels Facebook and Linkedin postings and ads. Include “before” and “after” photos. Limit initial advertisement expenditures on both channels to $200, then evaluate results, and adjust promotions accordingly
The Company Headshot Photographer who wishes to expand his business to attract “older” clients willing to spend money to improve their personal brand and marketability
Successful Business Promotion Breakout 1
• Develop a promotion for your business. (5 minutes) • Break into small groups to discuss and critique (15 minutes) • Pick one “case study” and present it to the class
Highest Priority Who is your Highest Priority Audience for your next promotion?
Desired Result • What is your Desired Result for this promotion? • Desired results often include a Call to Action (CTA)
Message • What Message do you wish to convey in this promotion? • Effective Messages always evoke an emotional response
Channels • What Channel will you use to deliver this message? • If you pick more than one, what will you need to do to tune the
content for each channel?
Your Company
Where is Your Business?
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Early stage & businesses without “stickiness” mostly
play here
Cold
Warm Referrals
Repeat
Successful established & mature businesses mostly
play here
What Can you do Today to help shift your business to the Right?
Shift to the Right
Anyone can shift their marketing efforts “to the right” with an intentional strategy, thoughtfully executed over time
Cold
Startup Stage
Established
Mature
Warm Referrals Repeat
80%+ 20% 0% 0%
30% 40% 20% 10%
5% 10% 65% 20%
Percentages are provided for
illustration. Realistic targets will vary by market and channel
Shift to the Right Breakout 2
• Develop a promotion for your business that is designed to either increase sales from existing customers or to increase referrals. (5 minutes)
• Break into small groups to discuss and critique (15 minutes) • Pick one “case study” and present it to the class
Highest Priority Who is your Highest Priority Audience for your next promotion?
Desired Result • What is your Desired Result for this promotion? • Desired results often include a Call to Action (CTA)
Message • What Message do you wish to convey in this promotion? • Effective Messages always evoke an emotional response
Channels • What Channel will you use to deliver this message? • If you pick more than one, what will you need to do to tune the
content for each channel?
Your Company
BREAK
(5 MINUTES)
Establishing Effective Sales
Practices
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• What are your sales (and margin) goals?
• What are you doing to improve your close rate and “stickiness”?
• What are you doing to increase repeat business and referrals?
• How are you dealing with objections?
• How are you measuring sales effectiveness and profitability?
Is it Working?
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1. Are you having success in attracting new customers? What are your most effective methods? Ex: in person networking, social media, direct emailing, advertising, word of mouth, cold calls, referrals, etc? What is not working?
2. Do you have a repeatable process for contacting these leads and tracking your progress towards sales?
3. What are the top reasons that a prospect says “no” to your offering? What has worked/not worked to help overcome these objections?
4. What percentage of your leads are converting to sales? What can you do to improve this percentage?
What are your top opportunities to increase sales and sales efficiency?
Breakout: Your Sales Priority
• Break into small groups
• Select one item from the prior slide where you need help. If your “hot” item is not on this list pick your hot item
• Each group member will share their item with their small group (max 5 min./person)
15 minutes
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Sales Statistics
48% NEVER follow up with a lead/ prospect
Based on B2B Survey Sales Leads
Breakout – Making the Sale
• Break into groups of two with one person playing the Seller and the other the Buyer
• Seller and Buyer met at a barbeque. Seller and Buyer exchange contact information and Seller agreed to reach out to the Buyer in a few days time.
• Sellers, sell your REAL offering to the buyer. Buyer, feel free to introduce any objections you wish.
• Reverse Roles
Total time = 3 minutes each role
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What worked? What did not?
Closing the Sale The Text Book Approach
• Direct Close: Simply asks for the order
• Assumptive Close: Allows the salesperson to
verbalize the assumption to see if it’s correct
• Choice Close: Gives the buyer multiple viable
options
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I never did these….
Closing the Sale What Works
• Clients needs to feel that they are in control and are
not being coerced.
• You need to strengthened your relationship in the
process
• You need to make the customer comfortable and
that they have choices
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How do you do this?
Closing the Sale What Works
• You must have a systematic approach for selling to
new clients and for selling to existing clients
• These approaches will overlap but may be different
in the steps and the details
• The key is the steps must be repeatable and
effective
• In most businesses the terms need to be in writing
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How do you do this?
Dealing with Objections The Price Objection
• Hope it comes up; otherwise
you’ve underpriced your product.
• Always talk quality – create value.
• Talk about the difference YOU
bring to the table. This is critical!
• Refer to investments, not costs.
• Yes you can always get it cheaper,
but not better!
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Dealing with Objections Other Common Objections
• Timing
• Client is not “sold” on you or your
offering
• Competition
• Others?
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Keeping Top of Mind Touches are Key!
• I sent out LARGE postcards in spring and fall. Timing was critical!
• Sent to prior and current customers and vendors only. Not to prospects.
• Personalized, hand written notes. Very soft reminder
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The Personal Touch Do what others don’t do!
• Note Cards/Colored Envelopes
– Handwritten thank you cards:
• “Dear XX, Thank you for referring YY to Me. Your
Expression of confidence is greatly appreciated! Hope
you have a wonderful summer, Regards, Ellen
– Stay in touch notes – can include things of interest
to the client/prospect
– Notes to Strategic Partners
– Thanksgiving Cards (Thanksgiving???)
Making Mistakes
• Agreeing to something that is not in your skillset
• Accepting “unacceptable” clients
• Cutting Price once you have stated it
• Selling below your minimally acceptable gross margin
• Over promising and under delivering
What Mistakes have you made?
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WORKSHOP
EVALUATION
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Appendix
Social Media
Promotion
Your Social Media
Promotion
User Driven Social
Networks
• Is it focused on your Ideal Customer?
• Does your Value Proposition come through?
• Does it include testimonials?
• Do your Social Media actions drive prospects to your website?
• Does your site have free and valuable content which the viewer can download?
• Does it have calls to action?
• How are you tracking & measuring access and engagement?
• What can you do to be more effective in driving sales?
• Do you have a Social Media Promotion plan?
• Is it focused on your Ideal Customer?
• Are you using the platforms that your Ideal Customers use?
• Are you driving customers to landing pages on your website and are you providing free and valuable information which they can download?
• How are you trialing actions?
• How are you measuring success?
• How are you comparing organic and paid impact?
• How are you assessing whether paid actions make success?
• Also known as Inbound Social Networks
• Includes Yelp, Angie’s List, Trip Advisor, The Knot, Open Table, Thumbtack and many more
• Your Ideal Customers may use these to compare and share thoughts on potential vendors, independent of your actions
• Important to identify the platforms your Ideal Customers use when researching offerings such as yours
• Important to stay on top of reviews and comments
• Can be a great source of customers with effective paid advertising
Your Website (and emails)
Own Your Online Presence
A Basic Approach to Leveraging Social
Media 1. Audit your and your successful
competitions’ Social Presence
2. Identify which platform(s) you and your
competitors use
3. Validate that these are platforms your Ideal
Customer uses
4. Identify Key Success Metrics
5. Identify & Court Key Influencers
6. Create and Curate Engaging Content
7. Invest in a Social Media Management Tool
8. Drive Traffic SEO
9. Track, Analyze, Optimize
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Adapted from Duct Tape Marketing and Wishpond, then expanded
1. Audit Social Presence
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• Which platforms are you and your competition actively using to attract your Ideal Clients?
• Are your platforms optimized (photo and cover images, bio, URL, etc.)?
• Which platforms are currently bringing you and your competitors the most value?
• How do your profiles compare with your competitors’ profiles?
Source: http://www.pewinternet.org/2018/03/01/social-media-use-in-2018/
2. What are you and your Competition
Doing?
Take a Deep Dive
1. Which platforms are they using and
how?
2. Which platforms seem to be most
important to them?
3. What are they posting & how often?
4. Are they getting engagement?
5. What is their apparent strategy?
6. Are they positively impacting Know,
Like and/or Trust and ultimately
sales?
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How can you Identify which platform(s) they are using?
3. What Platform(s) is your Ideal Customer
Using?
4. Identify Key Success Metrics
1. Follow Growth and drivers - did you
do something to generate the
growth?
2. Identify Optimal Times & Days for
Posting & Engagement
3. Track Likes, Reactions and
Engagement on Posts
4. Monitor Mentions (usually tags by
others)
5. Delve into respondents
demographics. Are you attracting
your Ideal Customers?
53 Source: Social Media Examiner: http://www.socialmediaexaminer.com/10-metrics-to-track-for-social-media-success/
chart courtesy Adobe
6. Determine reach (expanded by Shares)
and identify what causes people to
Share. If organic, this is free promotion.
If Paid was it worth it?
7. Reviews replies and comments – be
highly responsive!
8. Determine what content is being
shared. And why. This will help you
shape future content
9. Track website referral traffic from Social
Media
10. Examine Click Rates
chart courtesy Adobe
4. Identify Key Success Metrics
• Increases your brand awareness, content engagement, legitimacy and
trust (i.e. Know, Like, Trust)
• Significantly extends your reach, growth & engagement
• Attracts other Key Influencers to share and comment on your content,
accelerating this virtuous cycle!
What to do (on social media)
• Search the hastags your targeted influencers are using and incorporate
then in your content if appropriate
• Use tools such as Buzzumo, Traackr to help find, filter & manage
• Select 1-2 who fit with your brand, have reach and share others’ content
• Do a blog trade, comment insightfully on their content and share
5. Identify & Court Key Influencers
Adapted from Wishpond, then expanded
Courting key influencers is THE greatest leverage point for all ALL types of promotion – not just social media!
• Create or share content tuned to each platform
• Concise video has more impact than photos and photos have more
impact than stand alone text
• Prepare to interact – be social! Jab, Jab, Jab Right Hook
6. Create & Curate Great Content
See Bonfire Marketing for similar charts on the most popular platforms
7. Invest in a Social Media Management
Tool as your needs grow
https://www.forbes.com/sites/forbesagencycouncil/2017/05/15/15-social-media-management-tools-that-can-help-your-business-thrive/#28e923752b13
HootSuite IFTTT SocialFlow
Hubspot Buffer Iconsquare
MeetEdgar Sprout Social Sprinklr
TweetDeck A Content Calendar KnowEm
Raven Google Analytics Humans
Some common tools
8. Drive Traffic & SEO
• Follow steps 1-7 • Organize your high quality and relevant content into
a theme related “ecosystem” • Optimize web site for key words & use Facebook Pixel
(see next slide)
• Push content to your email list • Consider targeted paid advertising to augment
organic reach
8. Facebook Pixel
Facebook Pixel is a piece of code that you install on your website that lets you measure, optimize and build
audiences for your ad campaigns.
9. Track, Analyze, Optimize
• Decide what is important for you to track • Keep it simple initially and begin tracking using tools
provided by the social media sites • Constantly trial different content, content
presentation and associated media (photos, video, etc)
• Upgrade over time to a social media management tool such as in #7
Final Thoughts
• Platforms add features all the time – read social media news to stay current
• Establish accounts where you MAY want to be even if you do not plan to be active today
• Say something of value or say nothing
• Diversify content for each channel
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