Sales and Marketing Strategies for Business
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Transcript of Sales and Marketing Strategies for Business
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Sales and Marketing Strategies for Business
111 Monument Circle Suite 1950Indianapolis, Indiana 46204
317.917.3266 [email protected]
www.businessownership.org
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Sales and Marketing Strategies
Presented by:
Kim J. BrandPresident, Computer Experts, Inc.
CEO/Founder, FileEnginePhone: 317.833.3000
Email: [email protected]
Scott Tant Professional Staff Management
Phone 317-816-7007PSM’s Mission is to help improve the profitability of our client
companies through administrative and strategic Human Resource initiatives. By outsourcing the HR functions to PSM, companies gain an entire team of highly experienced and specialized professionals - at a fraction of
the investment required to have the expertise on staff.
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Agenda
The market is like a rock
(Just some of) the problems
What is your Marketing Objective? - Key Questions
The Marketing Mix – Four Ps of Marketing
Product – Place – Price – Promotion
Marketing facts (you need to know)
Learning what is selling
Combining and Coordinating Selling with your Marketing
Homework / Next Steps
Resources
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Quick Quiz #1
Marketing is how you tell prospective customers about your product? True/False
Selling involves a lot of presentations and convincing prospects why you are the best solution? True/False
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Sales & Marketing
Marketing is about The Masses Sales is about The Singles Must be Sending and Receiving A Continuous Feedback Loop
Send Out Messages &
Analyze Feedback
Meet With Prospects &
Collect Feedback
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The ‘Market’ is like a rock
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A big rock
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But much harder to move ;(
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Your objective is to move the rock
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(Just some of) The Problems
You have a wonderful product or service but nobody knows Buying habits of your customers don't include you You have no reputation You have no money You've never 'marketed' a product or service like this before
(You may have sold them before, but marketing is different) Competitors Most of what you know is wrong (which leads to mistakes &
wasted time & money - but adds to experience ;) The rules, once you figure them out, change - and usually
not in your favor
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What is your marketing objective?
Create Awareness Communicate Outrageous Value Create Urgency
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What is your marketing objective?
Create Awareness Communicate Outrageous Value Create Urgency
…but wait, there’s more !!
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Your First (Natural) Marketing Challenge
Keeping your message… Short
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Your First (Natural) Marketing Challenge
Keeping your message… Short Simple
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Your First (Natural) Marketing Challenge
Keeping your message… Short Simple Selfish
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The Sales Process
Old Definition: Always Be Closing
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The Sales Process
Old Definition: Always Be Closing Seller Focused Transaction Focused (* You Tube video) How do YOU like to Buy?
New Definition: Always Build Commitment Relationship Focused
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The Buying-Selling Process
Build Rapport & Relationship
Connection & Project
DevelopmentCommitment
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Key Questions
What are you selling? Who are your competition? Why should your customers buy from you
instead of them?
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Key Questions: The Core of Selling
What are you selling? Who are your competition? Why should your customers buy from you
instead of them?
Your competition includes:
Lack of awareness, Doing nothing, Buying habits, Bad experiences, “Good enough,” and LACK OF AWARENESS
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Your Business in One Sentence Focus Results Ask Magical Energetic …and practice, practice, practice
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Quick Quiz #2
The first thing to do when meeting a prospect is… A) Find out if the person is the decision maker B) Find out his or her budget to make sure you
are not wasting time C) Look for common ground to build a
relationship D) Pull out your marketing material so it is
ready to show
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Quick Quiz #2
In marketing, your competition… A) Dictates your maximum price B) Can be mostly ignored when you are a
better salesperson C) Detracts from your message D) Is your enemy
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The Marketing Mix
The Four ‘P’s of Marketing
What you sell, the Product
Where/How you sell it, the Place
The Price you sell it for
How you get attention: Promotion
Source: http://www.netmba.com/marketing/mix/
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The Four Ps of Marketing
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What is your Product or Service? – Really!!
Your BRAND – your promise to deliver Your MESSAGE – how you describe it . . .
You only have 13 words Your POSITION – How do your customers
view your product or service in the field of all other products and services? How will you be compared and described?
What is the PAIN your product or service relieves?
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Where is your ‘Place’?
Locality: Lemonade stand, Neighborhood? Side of town, City, Region? State, Country, Planet?
Distribution system: Direct, Indirect, Multi-Level Retail, Wholesale, Discount Storefront, Web-store, corner bar, catalog
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What is your ‘Place’?Who is your ‘Ideal Customer’? Demographic: men, women, owners of a
product, age, family status, income, taste, race, etc. Surprisingly: The narrower the better!
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What is your ‘Place’?Who is your ‘Ideal Customer’? Demographic: men, women, owners of a
product, age, family status, income, taste, race, etc. Remember: The narrower the better!
Size Can you scale or must you enter large? Current buying behaviors Existing competitors & weaknesses Communication channels (current – new) What is the potential–share you want/need?
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Quick Quiz #3
When setting price, first… A) Look at your cost and determine your profit
margin B) Look at your competition so you can go just
under their price C) Know how much money your offering
saves your customer D) Start with a low price to build volume
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Quick Quiz #3
In marketing, you want your target market to be… A) As big as possible for maximum volume B) Hard to define C) Narrow D) Growing
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Pricing & Terms (Differentiation) Are you better? (Can you charge more?) Is it easy to buy from you? Guarantees create trust (but create liability) Can you create demand with a lower price?
Price elasticity Can you afford less?
Salesmen, specials, combinations, spiffs/referrals Can you value price upgrades?
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Promotion
Superbowl advertising = $3M for 30 seconds
PROBABLY NOT IN YOUR BUDGET – YET!
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Promotion
What is your promotion Budget? Where/How do your customers find it - now?
Web, Yellow-Pages, Directories, Flyers, Mailbox Consumer: Billboards, TV/Radio, Car Wraps Trade shows, Endorsements, Tie-ins, Cold-Calling
Where do your competitors advertise? Advertising Specialties: Pens, Shirts, SWAG Networking, Referrals, Rewarding customers
for sending you leads
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Marketing ‘facts’
Your prospects are exposed to hundreds of thousands of marketing messages a day – What stands out in the ‘Message Frenzy’??
It may take 8+ impressions before they even know you exist – leverage multiple media.
The number of touches is going up rapidly—active is not enough.
Fence sitters are not prospects— “think it over” means move on
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More Sales and Marketing Facts
Interruption marketing is out; referrals, viral communication, entertainment is in.
‘Free’ talks directly to the cerebral cortex – can you give something away to get them to give you a try?
Give away what you have the least of…your time.
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Where do I Spend my Budget?
Every person selling you is better trained Statistics can be made to support any
argument The cost of marginal sales…isn’t “Not for profit” is only a tax issue
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Keeping Track of Prospects
CRM—An electronic stack of 3x5 cards Contacts Prospects Clients Consistency over confusion
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Quick Quiz #4
In marketing, your primary goal is that you want your message to be… A) Louder than your competition B) In front of your prospects more frequently
than your competition C) Prettier and fancier than your competition D) Memorable to your prospect when they are
ready to search for a solution
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Quick Quiz #4
When networking and meeting people… A) All contacts are created equal B) Prospects are easy to spot C) Prospects need immediate follow up D) Knowing more people will build your
business
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Quick Quiz #4
In marketing, you want your target market to be… A) As big as possible for maximum volume B) Hard to define C) Narrow D) Growing
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Quick Quiz #4
In sales and marketing, you want to be known as… A) The only provider of what you sell B) The least expensive provider of what you
sell C) Having the best service in your industry D) A credible expert
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Homework / Next Steps
Practice the answer to the questions: “What Do You Do?” and
“What business are you in?”
Define your brand (promise to deliver)
Establish the size of the market you’re going after and a goal for your share and a timeline.
Get a simple brochure, terms & price list designed/ printed – ask 10 friends and 10 strangers for feedback; fix what’s broken.
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Homework / Next StepsCollect information about your competition and be prepared to differentiate yourself.
Create a Customer Relationship Management (CRM) system and start refining your sales process.
Ask new customers “Why did you pick me?” & “How did you find me?”
Add their testimonials to your next brochure.
Constantly test every assumption you make about the market.
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Resources
HeWhoEnters.PBWiki.com - my Wiki for Entrepreneurs
SBA.GOV – Federal Government
IndianaEntrepreneurship.com – State Government
AddressTwo.com – Low cost CRM system
GoRainmakers.com, BNI-Indiana.com, OneDegreeConnected, SmallerIndiana.com – local networking organizations
ActumGroup.com – free sales book chapter: “Captivate Attention in One Sentence”
Anything by Ries & Trout – 22 Immutable Laws, etc.
Google.com – everything else