Growing Your Business

1. Introduction

2. Developing an effective marketing strategy

3. Targeting you market directly

4. Utilizing the powers of persuasion

5. Tracking your result and refine your approach

Index

I. Introduction

Carl Edouard Pihl

What Is Monte Napoleone ?

What Is Drinkyz?

What Is Drinkyz ?

What Is Hello My Name is E?

• Free services• website• Text messaging service• Online shop• E-voting• Online Ticket sales• Discounts and Vouchers• e-learning platform• Prepaid Cards• Event Organisation

• No Set-up Cost

• New revenue Streams

The most complete free solution for Education Institutes

• Fastest growing online student community

• Offices in the UK, and Switzerland

• In the Courvoisier future 500 companies 2007

• Selected to represent king’s College at the Young Innovator Award 2006

• Winner of the Symphonec Business plan competition 2006

What Is Student Box ?

• Small Business can compete• Easy to go global (VOIP, web presence)• Big companies can be more flexible

• The internet has opened up a number of possibilities:• Twitter (micro blog) values by Venture Partners for $ 250 Million• Viral marketing through Social Networks• Target advertising through Google ad words

• New technologies are available to communicate more efficiently• Microsoft surface• Photo recognition

• Being an entrepreneur is a way of life:• Richard Branson: You haven’t seen me fail before• Kid who wants to be an entrepreneur like his father

A theorist is someone willing to accept everything but responsibilityA theorist is someone who will never be satisfied with something that works until he can define the theory behind it

Introduction

2. Developing an effective marketing strategy

The Chartered Institute of Marketing define marketing as

“The management process responsible for identifying , anticipating and satisfying customer requirements profitability”

What is Marketing ?

• The marketing story, Water, clothes, belts, shoes everything is a story…– Make something worth talking about– Monte Napoleone / Drinkyz

• Social proof: – the million dollar homepage (Alex Tew)– Mc Donald: Billions and billions served

• Too much choice is bad…– Gordon Ramsey– Causes confusion and frustration

• You need to define your market know what they are looking for and target their needs.•You don’t want a customer for your product but a product for your costumer and ere are the three steps to do so:

– First ask– Then listen– Then get as many wants as you can

• YOU DO BUSINESS WITH PEOPLE NOT PAPER!

Developing an effective marketing strategy

•Goal & Strategy (kasparov)• MySpace and the Eye Candy group

•Internet evolves quickly:• Internet is like dog years. You don’t keep competitive advantage for long. .

Example: www.mymajorcopany.com

• Technology gives companies a chance for cheap marketing. Google adds,

• You need to create an whole experience for your customer. Internet is about the quality of the experience, why will I come back to you?

• Create a blog• Add community features

• The web is not a mass medium: it’s an interactive, personal, niche medium

•You need to define your market and target it. How?

Developing an effective marketing strategy

III. Targeting you market directly

• What makes you unique and differentiates you for the other.• Recognize the cluster in the market

– what can you do better than your competition, stay flexible and innovative.– Don’t fear competition– See what you can do better– More is not better when collecting information, you risk dilution the quality of the information

• What are the five questions you need to ask– What is your Business (Mission)– Who is your client?– What does the client consider value? ASK ASK ASK– What is the plan?– What are our evaluation criteria?

• Advertising has taken a completely new twist in the past few years. PPC; PPV, Viral…• Marketers should use the web for visibility or results?

– Visibility: Spirits, alcohol– Results: online shops

• Web ads must link to in-depth product information

• The web starts where the rest stops– Like normal advertising, on the web track your customers (Google analytics)– Understand what they want– Provide service and future sales.

• You want recurrent customers not just one offs• There are so many way to spread the word online, games, online communities, Direct mail… Be smart about it.

Targeting your market directly

• Provide discounts and rebates for vital demographic and psychographic info: A foot through the door gets you a long way

– Vouchers for car clean • 19% for 8 stamps• 24 % for 2 pre stamped and 8 more stamps

• Ebay started in 95 by Pierre Omidyan. In 06 in registered 6 Billion in sales so what did they do right? A few things.

• Social Compliance• A foot through the door

• Incentives and bonus, – receive a free e-connector– Or receive an e-connector worth 14.99£ @ no cost to you.

• Present cons before your you present qualities because they then trust what you say.– Avis we’re number two but we’re trying.– Beetle, It’s a bit ugly but at lease it will be ugly for a long time…– Restaurant add small but cozy

Targeting your market directly

IV. Utilizing the powers of persuasion

• Reciprocity, the obligation to reciprocate

• Power of NO!– Chocolate bar– Prison– Raise

• People are more responsive to what they have to loose rather than win 50% increase people are more motivated to act when they think they can loose rather than gain.

• Persuaded by exclusive information, they feel special ASW, Spotified, Decayenne, Black American express.– The allotment of beef 10 / 24/ 610% increase

• How to target people that are used to something?– Don’t insult them by criticizing their previous choices.– Explain that times have changed

• When you get a new peace of info from conference, research, be the first to spread it. The fresher the better.

– Although you might of heard about Einstein's equation to success.

Utilizing the power of Persuasion

• In telemarketing sales Coleen Szot changed everything by changing just 3 words• Operators are waiting please call now to…?

• If someone calls a favor on you, what do you say? You’re welcome, it’s nothing…

• Imitate someone’s body movement– Guys that like a girl when tend to direct their feet in the direction of that girl

• Lie To Me: Paul Ekman– Has any one heard of Paul Ekman? He is,… and there is this recently new TV

series. It hasn’t come out in the UK yet but is great. Gave it to all of my friends who loved it.

Utilizing the power of Persuasion

5. Tracking your result and refine your approach

• What turns tacticians into Strategists?– WHY!!! Always question what you are doing if it is getting you a step closer to where you want to go..

• Be Flexible: Websites must continually adapt to the market– Competitive advantage may only last a few weeks or months– Take feedback, and respond promptly and seriously to what you hear– Add new features regularly, Innovate

• A good technique is setting written objectives for yourself and your team. Even id they are not achieved a written commitment is always more powerful

• When you get to a meeting your question should be what do they want and how can I give them what they want. People will reciprocate!

– Not bad to refuse costumers and will bring you new ones!

• While in a crisis or danger, for example one of the departments need to reduce their staff and the manager let the staff know that the company is having some troubles. Then if you want to give them the steps to solve it they will be lost but if you present the problem with a straight forward solution they are more likely to go with it.

• It is possible to fail in many ways...while to succeed is possible only in one way. Aristotle

Tracking the results and refine your approach

In any moment of decision, the best thing youcan do is the right thing, the next best thing isthe wrong thing, and the worst thing you can dois nothing.

Theodore Roosevelt

Tracking the results and refine your approach