Building Blocks of Modern Marketing

Transcription

1 Small Business Series: Marketing Your Business April 4, 2014

2 About The Presenter Jennifer Delaporte Director of Business Development (602)

3 Wespac Construction, Inc. is a commercial general contracting and construction management firm, offering a full range of preconstruction and construction services. We service and offer expertise in a diverse portfolio of market sectors including: Healthcare Office Industrial Tenant Improvement Hospitality Retail Higher Education Municipal Native American Spiritual Multi-Family Nominated and Selected as a Finalist for NAIOP s General Contractor of the Year, 2014 NAIOP s Tenant Improvement Contractor of the Year 2 years in a row,

4 What do I do now? Do people know your name? Do you know your name? Did a customer knock on your door today? Where is your door? What will your signs and flyers look like? How will your customer know you are different?

5 What you need to do to successfully market your business Establish Your Best Competitive Positioning Define your Brand Develop a Corporate Identity Establish Who Will Hear You Best Plan, Budget and Track for Success What comes next and every interaction after that

6 Business to Business Business to Consumer Customers are other companies or professional partners Proposals Invoices Website Sales Team Customers are consumers Mass Media Social Media Sales Team

7 What is the difference? Sales Revenue Production Lead Generation Sales Process Advancement Repeat and Referral Support Business Development Brand Placement Market Expansion New User Acquisition Awareness Marketing Brand Development Support and Recruitment of Target Markets/Lead Generation Campaign Design, Execution and Tracking

8 Sales is selling directly to the end customer. Business Development to work through partners to sell to the end customer. Marketing is influencing buying decisions of an end user.

9 Simply stated, the function of sales is to sell directly to the end customer. The function of business development is to work through partners to sell to the end customer, in a scalable way. ~Andrew Dumont

10 PRODUCT: what you offer PLACE: where you offer it at PRICE: what is costs your customers PROMOTION: how you add more customers What is your Product, Place, Price, Promotion? YOUR PROMOTIONS MUST BE TIED TO YOUR BRAND, YOUR PLAN AND YOUR BUDGET!

11 How do we create a brand? Research the market to find opportunities and competitors Honestly Evaluate the value your product offers customers Define your target segments and best placement in the market Develop brand standards to guide every actions Go to market and reinforce your BRAND PROMISE every day 1. Corporate Identity When you enter the 2. Slogans and Messages marketplace, you make 3. Brand Personality Traits a subconscious promise to your future customers.

12 How do we create a brand? Competitive Positioning Development Research the market to find opportunities and competitors Honestly Evaluate the value your product offers customers Define your target segments and best placement in the market Develop brand standards to guide every actions Go to market and reinforce your BRAND PROMISE every day 1. Corporate Identity When you enter the 2. Slogans and Messages marketplace, you make 3. Brand Personality Traits a subconscious promise to your future customers.

13 ANYTHING YOU DO TO ACQUIRE, RETAIN OR INTERACT WITH A CUSTOMER. Passive Active To be truly effective, your marketing efforts must be: Consistent Purposeful Always in support of your Brand Identity Legally Compliant

14 The most successful market positioning is: Based on research Driven by your VALUE PROPOSITION The benefit you provide in the marketplace that becomes the basis for every customer interaction.

15 Operational Excellence/Cost Efficiency Typically driven by price Improving their operation provides for increased revenue Examples: Walmart, KB Homes, QT, Saturn Customer Intimacy and Relationships Typically driven by customer experience Improving their relationships provides for increased revenue Examples: Target, Fulton Homes, Starbucks, Lexus Product Innovation/Leadership Typically driven by product improvements Improving their product offering and uniqueness provides for increased revenue Examples: AJ s Finer Foods, Del Webb, Gevalia, Toyota

16 VALUE PROPOSITIONS ARE NEVER: Advertised to the consumer or listed as a feature of your business Ignored to achieve an immediate payoff or promotional edge

17 DEFINING YOUR VALUE PROPOSITION A primary VALUE PROPOSITION resides at the heart of every customer interaction and a secondary VALUE PROPOSITION offers additional clarification. Our primary VALUE PROPOSITION is: CUSTOMER INTIMACY Our secondary VALUE PROPOSITION is: PRODUCT INNOVATION Do you know and more importantly, have a documented primary and secondary VALUE PROPOSITION? Are they congruent with your best positioning in the market and can you deliver on them everyday?

18 The Social Media Revolution Develop a brand personality Be consistent to build TRUST with your customers Your Brand Personality helps Build Brand Equity The amount of money, time, or effort an end user is willing to spend to do business with you.

19 WIIFM: What s In It For Me Easy To Respond To Consistent Communicates Emotional Benefits, not Features

20 Actively - in the beginning Color Palette Company Name Slogans and URLs Brochures and Letterhead Actions and Reactions How do we communicate a brand? Corporate Identity Actively Campaign Types (SEO/PPC, Direct Mail, Print, Social, Radio) Campaign Messages and Sales Scripts Printed Flyer and Templates Public Relations Efforts Social Media Passive Color Palette Company Name Slogans Brochures and Letterhead Realty Support Tools Actions and Reactions Targeted Campaigns driven by a Marketing Plan and Budget

21 Trademark Building Blocks of Modern Marketing A symbol, word, phrase, logo, or combination of these that legally distinguishes one company's product from any others. The trademark designation is displayed on all product packaging, advertising and marketing collateral. Capital TM as superscript: Wespac Widgets TM Servicemark A trademark used to identify a service. As there is no packaging (due to lack of product), a service mark is displayed on advertising, marketing collateral and fleet vehicles for use in commerce. Capital SM as superscript: Wespac Construction SM Registered Servicemark or Trademark A trademark or servicemark that is submitted and recognized by the US Patent Office. The cost to register a trademark is dependent on the number of industry classes. All slogans, company names, logos, or other corporate intellectual property should be researched at before use in commerce to ensure legal usage.

22 How do we create a brand? Competitive Positioning Development Research the market to find opportunities and competitors Honestly Evaluate the value your product offers customers Define your target segments and best placement in the market Develop brand standards to guide every actions Go to market and reinforce your BRAND PROMISE every day 1. Corporate Identity When you enter the 2. Slogans and Messages marketplace, you make 3. Brand Personality Traits a subconscious promise to your future customers.

23 The best way to successfully market your business is to plan your campaigns before you launch them. Frequency- the number of customer touchpoints. Radio Reach- the number of customers you interact with. Billboards Television Reach x Frequency = Total Impressions

24 A Marketing Plan and Budget outlines: Who the are the target audiences? What is the delivery method? What is the projected cost? What is the reach and frequency? What is the timing? What is the recurring frequency? What is the message and call to action? What is the response mechanism? What is the goal? Keep in mind, the goal of every campaign is: Quality Lead Generation Increased Market Share Planning allows for: Best Tracking Best Testing Best Customer Experience Best Budgeting Consistent Branding for Increased Market Share Red Light, Green Light RESPONSE, CONVERSION, AND REVENUE

25 Always base your marketing campaigns on your documented sales funnel. Database: Internal or Lead Generating cold list Database reporting and tracking Clear benchmarks Knowledge of your metrics Ongoing testing and improvement

26 KNOW YOUR NUMBERS Sent out Postcard to Area People registered on your landing page 4% Response Rate Follow Up to those 20 Responders 3 Sales Appointments Set 15% Conversion Rate Meeting with 3 Opportunities 1 Sale 33% Conversion Rate Lead Prospect Customer

27 Thank you For Your Time Jennifer Delaporte Director of Business Development (602)