Maximizing Brand Awareness
Transcript of Maximizing Brand Awareness
The MBA Program Maximizing Brand Awareness
“I want to sell more.”
“I want to get more clients.”
“We’re hoping to grow this year.”
“I hope life returns to normal soon.”
Do You Have A Strategic Plan?
Marketing Your Business
(Or Are You Just Winging It?)
February 24, 2021
“It takes as much energy to wish as it does to plan.”
– Eleanor Roosevelt
“If you don’t know where you are going, you’ll end up someplace else.”
– Yogi Berra
YOUR TEAMFor Today
David Murphy - Founder - Nvent Marketing20+ years’ marketing expertise; 10+ years’ global Fortune 100 exec
experience (strategy, digital marketing, demand gen, brand, GTM)
Rand Jenkins - Founder - Mountain MojoMarketing Guru, Small Business Advocate, Content Writer, Public
Relations Director, Philanthropist, Serial Entrepreneur
5
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Your Marketing Plan
Your Business & Brand Plan
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
Strategy
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Strategic marketing workflow
Digital Traditional
OtherGeneral SEO
Content
Social Media
Print Marketing
.
Your Marketing Plan
Your Business & Brand Plan
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
Strategy
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Strategic marketing workflow
Digital Traditional
OtherGeneral SEO
Content
Social Media
Revisit your business plan
● Mission: What your company does. How you bring value to customers today. How you’ll achieve your vision.
● Vision: Your company’s dream for the future. Where you want to go. How you want the world to be.
● Values: Your values: what you believe. Your principles: how your team behaves based on your values.
.
Group discussion:● Does your company have a mission, vision, and values statement?● Where is it published or posted?● How often is it referenced?● Does your whole team know what it is and where it is?● Does your team ever discuss it or refer to it in discussion or communications?
Your Business & Brand Plan
Group discussion:● Has your company conducted an analysis of your competition?● How is your brand different from your competitors? ● How does your brand solve your customers’ problems?● What does your company do or have that is truly unique and differentiated?● Does everyone in your company know the answers to these questions?
Refresh your brand plan
● Brand Positioning: How your brand is positioned in a distinctive place in the mind of target customers.
● Brand Promise: The commitment you make to your customer to deliver a certain experience to them.
● Brand Value Proposition: What your brand offers and how it solves your customers’ problems.
● Unique Selling Proposition (USP): The attribute that differentiates your brand against your competitors
.
Your Business & Brand Plan
Craft your company’s elevator pitch
Elevator Speech: A verbal statement that articulates how you help targeted customers solve problems.
.
Must be:● Clear● Concise● Compelling● Customer-benefit Focused
Should all employees be asked to learn, rehearse, internalize, and naturally deliver it? Why not?
(& train your team to deliver it)
Your Business & Brand Plan
Craft your company’s elevator pitch
.
TEMPLATE:
At [OUR COMPANY], we provide [PRODUCT] for [TARGET CUSTOMERS] that allows them to [OUR VALUE PROPOSITION].
We have [EXPERIENCE], and unlike [COMPETITOR], we [DIFFERENCES].
End with a Call To Action or QUESTION.
EXAMPLE PITCH: (with<70 words)
At Zbest Painting, we provide full-service painting services to businesses and consumers in Anthem. Through our VIP Elite program, our customers can enjoy a fully painted room within 24 hours.
Our end-to-end service includes furniture removal and placement. Unlike BIGTIME PAINTERS, we don’t charge for rush orders.
Could your home or office use a refresh?
(& train your team to deliver it)
Your Business & Brand Plan
.
Your Marketing Plan
Your Business & Brand Plan
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
Strategy
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Strategic marketing workflow
Digital Traditional
OtherGeneral SEO
Content
Social Media
.
Your Marketing Plan
Your Business & Brand Plan
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
Strategy
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Strategic marketing workflow
Digital Traditional
OtherGeneral SEO
Content
Social Media
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Product/Service Selection
Your Marketing
PlanBefore you build content, you need to know what to promote!
What is your most profitable product or service?
Which product or service is the easiest to sell?
Which product or service are you interested in selling more of?
Product/Service Selection
Your Marketing
Plan
Other factors to consider…
How much does a lead cost to acquire? (CPA)
How long does it take a lead to convert?
What is your current conversion rate?
What does your current traffic look like?
Product/Service Selection
Your Marketing
Plan
Group discussion:● What is your most profitable product or service?● Which product or service are the easiest to sell?● Which product or service are you interested in selling more of?● Which product are have you committed to marketing?
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Goals
Business Goal
Marketing Goal
Product Goal
Campaign Goal
Increase revenue by 20% by 12/31
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Q1 Q2 Q3 Q4$1.05M $1.10M $1.15M $1.20M
Increase revenue by 20% by 12/31
Consider:● Seasonality● The economy● Competition● Market dynamics (market size, buying cycles)● Your current value prop & market position
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Marketing Goal
Product Goal
Campaign Goal
Increase revenue by 20% by 12/31
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Marketing Goal
Increase revenue by 20% by 12/31
Brand awarenessLead generation
New customer acquisitionAverage order value
Average order frequencyCustomer retention (churn)
Referrals
Generate 200 new qualified leads
Q1 Q2 Q3 Q4 Total
42 43 55 60 200
Example:
● Each sale is worth $10k. ● Closing ratio is 10%
(10:1 leads/sale)
200 leads = 20 sales X $10k = $200k
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Marketing Goal
Product Goal
Campaign Goal
Increase revenue by 20% by 12/31
Generate 200 new qualified leads
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Marketing Goal
Product Goal
Increase revenue by 20% by 12/31
Prioritize one (maybe two) product(s) as your leaders.
Generate 200 new qualified leads
Focus on my premium model 1234
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Goals
Business Goal
Marketing Goal
Product Goal
Campaign Goal
What specifically needs to happen,
how, and by when?
Increase revenue by 20% by 12/31
Set a reasonable quantifiable goal and a deadline to achieve it.
Break the goal into segments.
Generate 200 new qualified leads
Focus on my premium model 1234
Capture 2000 website visits
>> 400 inquiries
>> 200 qualified leads
Goals
Business Goal
Marketing Goal
Product Goal
Campaign Goal
Group discussion:● Does this goal framework make sense? Is it realistic and practical for your business?● If not, what parts of it can you apply?● Do goals need to be specific and measurable? Why or why not?● Do all the relevant team members know your quantifiable business goals for this year?
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Target Audience/Personas
Your Marketing
Plan
Let’s talk about your current and future personas!What is a persona?
What do your current personas look like?
What personas do you want to attract?
Target Audience/Personas
Your Marketing
Plan
Put yourself in their shoes:What does their daily life look like?
What kind of house do they live in?
What kind of car do they drive?
Target Audience/Personas
Your Marketing
Plan
More details!How big is their family?
What is important to them?
What do they do in their free time?
Where do they consume their media?
Target Audience/Personas
Your Marketing
Plan
Consider this:What products or services are your personas buying? Why?
What products or services are your personas not buying? Why?
Are there any barriers preventing your personas from using any products or services?
What types of messaging do they respond to?
Your Marketing
Plan
MEDIA PREFERENCES
● LuluLemon● REI Coop● Apple● Fitbit
Advocacy Meter
Based in Scottsdale, Carrie loves taking day trips throughout Arizona with her boyfriend/fiance and close friends. While she may have one or two things planned each day trip (hiking, shopping, or visiting a friend for dinner), she likes making plans on the fly. Carrie relies a lot on her smartphone for looking up restaurants, bars, hikes, etc. through apps like Yelp, Google Maps, and AllTrails. Carrie enjoys activities that are group-inclusive, for couples, and adventurous. She is currently on the “hunt” for something spontaneous to add to her day trip to the Verde Valley.
BRANDPREFERENCES
● Reputation/business directory sites like Yelp and Google Maps
● Instagram● Pinterest● Online news media
0-15%
MOST IMPORTANT FACTORS
IG Ready Bachelorette Party | Unique Experience | Affordable Group Pricing | Fun!
Age: 35
Occupation: Nurse Practitioner
Marital status: Engaged
Technology familiarity: Medium to High
CLIQUEY CARRIEPersona Example
Target Audience/Personas
Group discussion:● Do you have your company’s target audience and buyer personas defined?● Which one would be best for this particular marketing campaign?● What is special about them?
Your Marketing
Plan
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Channel Selection
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Digital Traditional
OtherGeneral SEO
Content
Social Media
● Brand awareness● Lead generation● New customer acquisition
Print Marketing
● Average order value● Average order frequency● Customer retention (churn)● Referrals
Match your channel to your marketing goals
Channel Selection
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Digital Traditional
OtherGeneral SEO
Content
Social Media
Consider your:● Marketing goals● Timing/urgency● Budget● External events● Seasonality● ROI measurement● Website health● Brand health● Retail presence?● Sales readiness?● Product lifecycle● Marketing assets &
resources
Print Marketing
Channel Selection
Your Website(Ecommerce or Lead Capture)
Local SEOPaid Search (SEM)
Display Advertising
Direct Marketing
Event Marketing
Your Salesforce(Direct, Channel, Retail)
Customer Marketing
RevenueChannels
Pay-Per-Click (PPC) Organic
Customer AcquisitionChannels
Visits... Conversions… Leads... Opportunities... Sales
Digital Traditional
OtherGeneral SEO
Content
Social Media
Consider your:● Marketing goals● Timing/urgency● Budget● External events● Seasonality● ROI measurement● Website health● Brand health● Retail presence?● Sales readiness?● Product lifecycle● Marketing assets &
resources
Print Marketing
Group discussion:● What successes or failures have you
had with these channels that have taught you lessons?
● Share your experiences with your group.
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Measuring Success and Budgeting
Your Marketing
Plan
How are you going to define success?Think S.M.A.R.T.: Specific, measurable, achievable, relevant, and time-bound
Measuring Success and Budgeting
Your Marketing
PlanConsumer packaged goods
Consumer services
Tech software or biotech
Communications or media
Mining, engineering, or construction
Service consulting
Education
Healthcare or pharmaceuticals
Retail wholesale
Banking, finance, or insurance
Transportation
Manufacturing
Energy
Industry Average Percentage of Revenue Spent on Marketing24%
15%
15%
13%
13%
12%
11%
10%
10%
8%
8%
8%
4%
What is your marketing budget?
Projected revenue:
X
Industry average %:
=
Your marketing budget:
Measuring Success and BudgetingProduct: Vacation cabins
Goal: Sell 25 @ $400 each = $10,000 / month
Persona: Cliquey Carrie
Channel: Facebook ads
Budget: $1,000 / month
Promotional Strategy: Giveaway campaign
Your Marketing
Plan
497.69% increase in web traffic
537 more likes on Facebook in just
over a month
121% increase in paid search clicks
594 contest submissions
Retained 470 email addresses
Approximately $1,000 of total cost produced $10,000 in bookings.
Measuring Success and Budgeting
Group discussion:● Is it practical and reasonable that you could dedicate the resources necessary to budget,
measure, and analyze your campaign results?● What challenges would you have?● What benefits might result from making this effort?
Your Marketing
Plan
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
Consider your:
● Channel mix and campaign calendar○ Social media: Facebook, Instagram, LinkedIn, Twitter, YouTube, Pinterest, etc○ SEO: National or local focus○ Traditional advertising: publications, coupons, signage, TV/radio, direct mail, print marketing○ Digital advertising: Google search, Google display, paid social media display○ Events: chamber, trade associations, partner events, other.○ Current customers: referrals, references
Promotion Strategy and Tactics
How much and when to invest in each channel to achieve your goals
Create a calendar with start/stop dates, KPIs, messages, assets
Consider your reach (how many will see your message) & frequency (how often)
Your Marketing
Plan
● Create campaign themes and have the channels complement one another● Content creation
○ Customer success stories, product news, educational, thought leadership, events, promotions● Media/content mix
○ Video, photo, text articles, infographics, testimonials, podcasts, webinars, ebooks, ● Tools and resources
○ Stock photography - ■ Adobe, Getty Images, iStockPhoto, Shutterstock, Canva
○ Graphic design ■ Software - Canva, Adobe CC■ Freelance designers - Fiverr, Upwork
○ Video/photo editing■ iMovie, LightRoom
Promotion Strategy and Tactics
Group discussion:● Have you ever managed your own
campaign or created your own content? What did you learn?
● Which if these tools and resources have you tried? What was your experience from it?
Your Marketing
Plan
1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Consider: Do it yourself or outsource?
Make-or-Buy trade-off, opportunity costs, learning curve, control?
Your Marketing
Plan
Can we get a volunteer to
tell us about your takeaway? 1. Product/Service Selection 2. Goal 3. Target Audience/Personas4. Channel Selection5. Measuring Success and Budgeting6. Promotion Strategy and Tactics
6-Step Strategic Marketing Action Plan
Your Marketing
Plan
The MBA Program Maximizing Brand Awareness