Your business card gets you: 1. Door Prize Entry 2. Rock the Inbox Newsletter 3. PDF of this lecture. Drop it up front!

Transcription

1 Your business card gets you: 1. Door Prize Entry 2. Rock the Inbox Newsletter 3. PDF of this lecture Drop it up front!

2 Presents Marketing How to Get Started Right A case study:

3 Welcome to Las Vegas. Photo by Ken Mahar

4 Introductions. Ken Mahar, CEO of mobile (206) years in furniture, 12 in retail, 9 in high tech and marketing MeetYN

5 Agenda. Have Audience survey Fun! Marketing Overview Get Started Right Bonus! Case Study:

6 Audience Survey. Everyone please stand, yes for real. No marketing yet Not sure. Doing some, but not well. Doing a good job with good results. Have a kick-ass world-class campaign generating more than 2% of sales.

7 overview Market size and growth Investment Sales The Direct Marketing Association (DMA) estimates that in 2007 U.S. marketers will spend $500 million on marketing to generate $21.9 billion in sales, an 18.3% increase in marketing expenditures over DMA (2007) 43.8 times ROI For every dollar spent on marketing in 2007, marketers can expect an estimated $48.29 ROI. - DMA (2007)

8 overview Return on Investment delivers the highest ROI by an eye-popping margin: a whopping $57.25 for every dollar spent on it in 2005, $7.08 for every dollar spent on print catalogs, and $22.52 for every dollar spent on non- Internet marketing. - DMA (2005) 31% of US Marketing Executives surveyed say direct response programs ( and mailings) have greatest ROI, more than double all other marketing programs (p.r., event marketing, website, advertising). - CMO Council (2005) For every dollar spent on marketing in 2007, marketers can expect an estimated $48.29 ROI. - DMA (2007) 's ROI index is 70 percent higher than any other direct-response marketing vehicle. - Direct Marketing Association (2006) 55 percent of the respondents cite that they expect ROI from to be higher than any other channel. - Datran Media, "Marketing & Media Survey" (2008) 83% of marketers surveyed said that they thought 2007 ROI for will increase over last year. - Datran Media Research, "The Marketing Survey: Looking Forward" (2007)

9 overview Marketing Advantages COST EFFECTIVE! Dynamic content - links to other web pages that educate, motivate, or inspire. Scalable: 500 to 500,000 same system. Price per person falls. Speed - respond quickly to ideas/opportunities. Advertising dollars you can actually track; see response rate and web sales!

10 Actual report

11 Graphic version

12 Important Scientific Poll Tastes Great? or Less Filling?

13 Get Started Right! Obstacles to getting started right: People Challenges Technical Challenges Best Practices Know How Other than that it s easy!

14 People Things to consider: Your boss isn t here today. Salespeople ask WIIFM You must ask customers correctly You may not have the right people to do this in-house.

15 Technical Things to consider: Your database The platform The constantly changing internet dynamics HTML, CSV, FTP, W3C etc.

16 Best Practices Things to consider: How to build your list Best day to send How often to send What to say CAN-SPAM compliance many, many more - see Photo by Ken Mahar Broadcast is located in Seattle, Washington.

17 More BP at website.

18 Step #1 - Get Started Get Started ASAP The number 1 obstacle is Inertia Commit to the program company or store wide Don t collect then send - do it all from the start, even with zero s. Have this much faith and get started!

19 Step #2 - In or Outsource Answer Honestly. If No consider Outsourcing Do we have the people to run this? Do we know the industry standards? (Tip - your web guy is probably NOT the answer.) Can we find and implement the right technology we need quickly? Do we have the supporting staff Graphics Designer? Engineer? Copywriter? Web Designer? Do we know what works? Can we afford to learn as we go? Opportunity cost of speed? Is this a core competency and do we need it to be? In or out?

20 Marketing FTP Is this a full time position for your company?

21 #2 - Insource or Out Benefits to Outsourcing May have furniture industry experience instantly knows the answers to questions you d spend weeks or months finding out. May have already assessed multiple platforms and chosen a winner. May have a team that brings to bear with specialized skills like graphic design, engineering, copywriting, web design. Can likely get started very quickly with proven plan. Allows you to stay focused on your business retail. Potentially a fraction of the price of in-house. Do the math. Quick Poll In or out?

22 Step #3 - Find Platform/ Agency Agency questions Platform Questions Furniture Industry Experience? Stability and Tenure of Agency Percentage of business is ? Work directly with your firm, visit your locations, train your people? Full service: copywriting, design, content ideas, database engineer? Delivery Team ISP relationships Support ticket QOS One on One training costs Features: Segmentation, Advanced Tracking, Inbox Review, Blacklist Monitoring, Delivery Reporting

23 Step #4 - Get Buy In Use these tips to get buy in from team Answer Salespeople s question - WIIFM Measure and reward good performances, counsel poor ones Inspect what you expect Launch with a contest, follow up with random contest Retail is a team sport

24 Step #5 - Building List Follow these tips for building your list Answer customers question - WIIFM Always ask permission, uncheck web form sign ups. Make it easy - integrate your POS software with platform See NHFA Retailer Magazine this month for more tips. Bonus: Send a Thank You note from the GM

25 Step #6 - Deliver Great Content Tips for great content Answer customers question - WIIFM Keep it short, use landing pages Educate, Inspire, Entertain,Value Leverage the web - use links to other places Clear call to action

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28 A Case Study About Mor: 15 Showrooms, western US #39 on FT Top 100 in 2008, #33 today Full line, value Big box concept k sq ft Closely held, lead by brothers: Rick Haux - CEO Jeff Haux - President

29 Getting Started. (The most important step) Humble Beginnings: Started in Phoenix, s to start, all TV Text only - from Manager Thank You message included a 5% off coupon. People began using the coupon - it works!

30 Gaining Momentum. Picking up speed: Rolled out company wide Trained salespeople Began tracking capture rate Became part of mgr. bonus Monthly messages were generating significant results - needed tracking Moved to HTML messages

31 Crushing it. Destination --> Success 2009: Crossed the 200k benchmark Aligned with marketing calendar, mixing value with sales events. Redesigned the HTML for web 2.0 look Added landing pages - less is more Drove over 2M in Sales directly attributed to in 2008.

32 Get the real scoop

33 Got your card in? Door Prize!

34 Wrap up. works - 22 Billion in Sales in has highest ROI, yet under invested marketing is not easy - 3 challenges Despite challenges - is a must have in your marketing mix to compete

35 Thank you. Questions? mobile