Strategic Marketing Boot Camp: Session 5
Strategic MarketingBoot Camp: Session 5
Agenda: 5 Sessionsa. Session 1
a. Marketing Overviewb. Strategic Internal Assessmentc. Strengths and Weaknesses of the SWOT
b. Session 2a. Industry and Competitive Analysisb. Opportunities and Threats for the SWOT
c. Session 3a. Target Market Definitionsb. Buyer Personas
d. Session 4a. Improvement & Innovationsb. Value Propositions & Proof and Evidence of Claimsc. Buying Cycled. Content Framework
e. Session 5a. Tactical Implementation
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1. PowerPoint Slide Deck X 2 (Session 5)
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Documents to Download:Session 5
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Let’s Review
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“True Marketing is the art of creating genuine customer
value and in its right context is customer/client‐centric.
It is about becoming a ‘value‐producing machine’ through improvements and innovations to meet market
demands and wants.”
Working‐Definition of Marketing
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“Unless Strategic Marketing issues are dealt with first, it is absolutely impossible to do Tactical Marketing well”
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Marketing Insight #3
“Strategy withouttactics is the slowest
route to victory. Tactics without strategy is the noise before defeat”
‐Sun Tzu
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asepco.com/about/guarantee/ (Watson Marlow)
Lifetime Free Replacement Of Any ASEPCO Tank Valve, No Matter Who Breaks It!Sometimes a tank is dropped—sometimes a valve gets hit by a forklift. No matter how a valve is broken, or who’s at fault, we will replace it free! No arguments. No excuses. Just a free replacement valve as fast as we can make it.Top‐quality Product Or It’s Free!If your ASEPCO valve contains a manufacturing defect we will Fix or Replace Your Valve—and We Will Not Bill You!Performance As Promised Or We Pay You!If it is proven that a properly assembled ASEPCO valve is not CIP/SIP in use:
• We’ll buy back our valve for a full refund.• We’ll buy you the replacement valve of your choice.• AND we will pay the cost of replacing it in your ASME tank!Note: We figure this is a safe bet, because we have not had a claim of contamination in our entire history.You can depend on ASEPCO products. And you can depend on US.
Manufacturing Example
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Strategic & Tactical Marketing
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• Core Competencies (Strengths & Weaknesses in SWOT)
• Market Opportunity Identification (Including Industry Trends: The Opportunities and Threats in SWOT) Market Intelligence Market Research Marketing Research
• Competitor Analysis
• Target Market Description
• Buyer Persona & Journey Analysis
• Value Propositions, USPs, Improvements & Innovations
• Alliances, Partnerships, Acquisitions
Strategic Marketing Attributes:
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Each of these help you determine
• “what you say”• “where you say it”• “how you say it”
…in your tactical marketing.
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• Websites & SEO
• PPC Advertising (e.g. Google Ads)
• Automated E‐mail Campaigns
• Broadcast E‐mail Campaigns
• Direct Mail (Preferably Targeted)
• Newsletters
• Press Releases
• Brochures or Catalogues
• Trade Show Displays
• Social Media
• Various other advertising mechanisms
Tactical Marketing Includes:
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11. Tactical Marketing Plan
12. Consistent Message Delivery (Internal)
13. Lead Generation Systems
14. Continuing Education Systems
15. Tracking Results
SMB Phase 3: Tactical Implementation
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Tactical Marketing Plan
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What Type of Content Will You Create?
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Content Marketing
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“Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience – and ultimately to drive profitable customer action.”
Looking at “The Big Picture” we should also add in “cultivating” or “nurturing”.
Content Marketing Institute
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• “B2B content marketing is the art of using content to expand your business audience, strengthen and develop brand affinity, and ultimately drive leads and sales by appealing to other businesses.”
• …It must be useful above all else with actionable elements
Source: WordStream: “The Seriously Comprehensive Guide to B2B Content Marketing” June 2019
What Is B2B Content Marketing?
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If done correctly:
1. Promotes movement along the Path
2. Helps increase sales to meet organizational growth goals
3. Reduces customer acquisition costs
4. Gives you customers who have more loyalty
High Level Benefits of Content Marketing
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Owned Earned Paid
Content in which you are in full control:• Website pages• Short and Long‐Form Blog
posts• Social Media posts• Case Studies• Whitepapers• Infographics & Slideshares• Templates & Checklists• eBooks• Primary/Secondary Research• Thought Research• Video
Exposure through “word‐of‐mouth”*:• Valuable distributed content• SEO influence and organic
search ranking• Customer experience and
recognition (reviews, recommendations or referrals)
• Press mentions• Shares• Reposts• *NOTE: “When the
customer becomes the channel”
Paid media services to promote content and drive exposure• Search Marketing• Display Marketing• Shopping Campaigns• Video Campaigns• LinkedIn or other Social
Media• Sponsored blog posts• Print ads and many other
offline, outbound marketing tactics (TV, Radio, etc.)
Owned, Earned and Paid
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Online material, such as whitepapers, articles or videos that require users to fill out a form before they can access them.
It is estimated that as much as 80% of B2B content marketing assets are gated
(Source: Instapage)
Gated Content
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• Understand your audience better: By gathering more details about who specifically accessed the content, you can accurately target and nurture those leads in the future.
• Forge a trusting relationship: Those who invest in gated content by providing their own information might view it as being more valuable, thus establishing your brand as trustworthy and authoritative.
• Streamline your sales process: Conducting outreach to those who accessed your gated content is much more effective because you have more qualifying information about them.
Source: Vertical Measures
Advantages of Gated Content
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• You might reach a limited audience: It’s a bit harder to get gated content in front of your entire audience, unless you put serious effort and budget behind promotion. Depending on your industry and audience needs, it can be difficult to get a large part of your audience to fill out the gated form.
• It can be harder to earn links: Your audience will typically avoid linking to a gated landing page. This makes sense, though. Many people will skip sharing gated content because their audience isn’t ready to give up their information to you (or another) brand.
• Some readers might be turned away: Let’s face it, gated content can leave a bad taste in the audience’s mouth if they’re targeted at the wrong stage of the customer’s journey. This can result in a negative brand perception or loss of trust.
Source: Vertical Measures
Disadvantages of Gated Content
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• More does not always mean better
• Never sacrifice quality for quantity, you must effectively connect with prospects and get them to move along in their journey
• Repurpose Content E.g. Create a quality whitepaper and break it
out into several blog and or social media posts
Myth: More Content is Better
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• Powerful tool for both acquisition and retention
• A great way to explain a complex process, product or service
• With longer sales cycles prospects spend more time at the top of the funnel, so content can be used to guide them along the journey
• Used to strengthen on‐going relationships
Myth:Content Marketing doesn’t work for B2B
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• Creating top‐quality content that gets results requires strategic thinkers, experienced writers, designers and in some cases developers
• Must include a plan for testing and measuring
Myth:Creating Quality Content is Easy & Inexpensive
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• This is not an overnight process, it takes time
• Evaluate the metrics that can be measured, get your data and make necessary changes
• Focus on your Target Market at all stages of the journey
Myth:Must Drive Sales & Earn ROI Quickly
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Challenge: Inadequate Resources
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Great
CheapSpeedy
Expensive Slow
Inferior
Good luck!
Pick 2…
Content Marketing Pyramid
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For Example:
1. SEO – On‐going and monthly review of Analytics
2. PPC – On‐going and weekly review of Performance Stats
3. Blog – once every 2 weeks
4. Newsletters – once a month
5. Whitepapers – once a quarter
6. Videos – once per quarter
7. Brochures and or Catalogues – updated every 6 months
8. Social Medial Posts – once every 2 weeks
9. Automated emails – once every 3 weeks
Content Marketing Calendar
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Content Marketing Calendar
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Content is the New Currency
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• Brands are judged by relevance, quality, and originality of content
• Customers decide what they want and are willing to consume in the journey
• Strategy tells you what content to make
• The biggest challenge is creating enough good stuff
“Eliminate ‘unsupervised thinking’ by telling your
prospects exactly what you want them to do next”
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Marketing Insight #6
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“Always make sure you deal with your target market, whether customer, client or
prospect, with utmost integrity, honesty and
responsibility.”
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Marketing Insight #8
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Consistent Message Delivery
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• Internal
• Making sure that ALL employees, especially those who interact with customers know what messages you have in the marketplace
• Educate them as to “our” goals in messaging Regular Company Meetings Internal Emails Wall boards that support the messaging
• Expect them to support the message in every way and report back if there are any related problems
• Be on the lookout for anyone who deviates and have plans in place for adjustments
SMB Phase 3: Consistent Message Delivery
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Lead Generation Systems
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• Websites & SEO
• PPC Advertising (e.g. Google Ads)
• Automated E‐mail Campaigns
• Broadcast E‐mail Campaigns
• Direct Mail (Preferably Targeted)
• Newsletters
• Press Releases
• Brochures or Catalogues
• Trade Show Displays
• Social Media
• Various other advertising mechanisms
SMB Phase 3: Lead Generation Systems
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Forrester Research
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“Although it varies greatly with product complexity and market maturity, today’s buyers might be anywhere from two‐thirds to 90% of the way through their journey beforethey reach out to the vendor.”
When your target market is searching for information about you, will they find you?
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Google Statistics (from Think With Google)
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Inbound vs. Outbound Marketing
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Outbound• Presents information to customers even when they are NOT looking for it• Casts a wide net using tactics such as Cold Calling, Print Ads, Direct Mail,
etc.• Problem: Timing is not always in sync with the offering and this type of
advertising could be quite expensive• Benefit: Companies that can afford it from a brand awareness perspective
Inbound• More calculated and tactics are directed toward prospects who are
actively searching for the products or services you offer• Much more affordable for small to midsized businesses if done correctly
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Continuing Education Systems
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“Implement systems to keep the long‐term buyers engaged”(10‐80‐10 Marketing Principle)
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Marketing Insight #9
80%
10%
3‐10%
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• Closed Loop Systems• Keep your name in front of the 80% long term buyers so you
are “top of mind” and they contact you when they are ready• IBM Qualification Framework: Budget Authority
Need
Timing
SMB Phase 3: Continuing Education Systems
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Automated E‐mail Marketing
• Use Automated email systems to keep long‐term prospects engaged AWeber Communications Constant Contact Active Campaign Pardot Infusionsoft
• Create a series of emails based on “Decision‐making values” and schedule them regularly, for example every 3 weeks
• Use Broadcast emails to keep them apprised of special events like Trade Shows
Make sure to import all Lead Generation contacts into the system!
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• According to Radicati’s Email Statistics report, email will be used by 3 billion people by 2020. That’s almost half of the world’s population. (Out of the other half not using email, 1.6 billion people still don’t have electricity.)
• According to the Direct Marketing Association (DMA), email makes money. For every $1 you spend on email marketing, you can expect an average return of $40. While there are many benefits of using email marketing, this is the one that keeps you in business.
• According to Forrester, people are twice as likely to sign up for your email list as they are to interact with you on Facebook.
• Email has higher conversion rates Search and Social Media combined. (Smart Insights)
• Personalized emails receive transaction rates that are 6 times higher than others, but 70% of brands fail to use them. (MarketingLand)
• In fact, B2B marketers see an average of 760% increase from revenue from customized, segmented email campaigns. (Campaign Monitor)
Email Statistics
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• Email is the third most influential source of information for B2B audiences, behind only colleague recommendations and industry‐specific thought leaders. (ImaginePub)
• In fact, 79% of B2B Marketers credit email as the most effective distribution channel for demand generation efforts. (Content Marketing Institute)
• 86% of business professionals prefer to use email when communicating for business purposes. (Hubspot)
• CTRs are 47% higher for B2B email campaigns than B2C email campaigns. (EmarketingPlatform)
• 59% of B2B marketers say email is their most effective channel in terms of revenue generation. (Emma)
• Tuesday is the best day of the week to send email (according to 14 email marketing studies). (CoSchedule)
B2B Email Statistics
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Tracking Results
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• Analytics and ROI
• Numbers that answer business questions
The following is an adaptation from a presentation shared by Andy Crestodina of Orbit Media Studios, Chicago, IL
SMB Phase 3: Tracking Results
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Image provided by https://www.orbitmedia.com
“If you can’t measure the success of your marketing
campaign tactics, don’t do it”
“If you can’t measure it,
you can’t improve it”
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Marketing Insight # 10
“I know half the money I spend on advertising is
wasted, but I can never find out which half.”
‐John Wanamaker
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Examples of Tracking
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Call 1‐800‐xxx‐xxxx and ask for John: Mention Code “Q4 2016” to get Free Shipping on your first order.
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What Does This Cost?
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What is an Acceptable or Appropriate Cost?
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First: Know Your Numbers(never enter any tactic until you do this first)
• How much is the typical first‐time customer worth to you?
• How often do they place an order?• What is your client retention rate?• What is the lifetime value of a new customer to
you?
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ROI Calculation Example
• How much money did you spend in the month? $2000
• How many new customers did you get? 2
• Then ask: What is the value of each new customer? $1500
How often does the typical customer order from you? 2/year
What is your customer retention rate? 5 years
What is the lifetime value of those customers? $15,000
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SMBC
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CourseWork
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Developing a strategy is hard work and takes time, but with a system (SMB), makes it easier. Also, this is NOT a one‐and‐done process, it should be evaluated several times per year.
In the end you want your target market to say this: “I would have to be an absolute fool to do business with anyone else but you …regardless of price!!!
Thank You!
Vince Kostelnik
https://adejsolutions.com/
Office: (412) 754‐1267
Cell: (412) 600‐3412
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Connect with me on LinkedIn:https://www.linkedin.com/in/vincekostelnik/