GB 370 | Unit 7
What are the 3 steps to building a Branding strategy?
(1) Set yourself apart, (2) know your target customer, (3) develop a personality
list the steps in creating a marketing plan
(1) situation analysis, (2) describe target audience, (3) list marketing goals, (4) develop marketing communications strategy, (5) set marketing budget
One of the most crucial skills a startup entrepreneur can have. Make a 5-year ___________ plan listing your five best customers, give targeted prime prospects, and five targeted organizations.
Networking
7 steps to getting your company noticed
Write your positioning statement, List your objectives, Identify your target customers, Identify your target media, Develop story angles, Make the pitch, Follow up
Your business plan should include a _____________ ________ for how you'll apply your brand strategically throughout the company.
branding strategy
This can be the biggest fear of selling.
cold calling
Don't use _________ ________ as the headline for your ad.
company names
- organize customers - keep track of when you talked to them and what you said
customer relationship management (CRM)
is a marketing strategy that uses consumer data and demographics to create audience subsets/segments
microtargeting
- should defines your market, product or services, then the benefits you provide that are different from your competition. - Be able to describe your target market, give a succinct overview of your company's strengths, weaknesses, opportunities, and threats, and know how to position your product.
situation analysis
- can get ad in quickly - target special interests groups
social media
one of the fastest-growing areas of marketing today. - you need both advertising and PR to make this work
special events
- you can target special interest groups and they have longer shelf life
magazines
- needed for all types of direct/electronic mail - capture important info from anyone who buys or shows interest in your product - challenge: you have no idea what that person's mindset actually is
mailing lists
A percentage of projected gross sales will go to your annual ___________ _______.
marketing budget
- outline of what marketing plan should achieve - short lost of goals that are measurable
marketing goals
Identify your ideal _________ _____ and which type of ________ your target audience turns to for information.
marketing mix; media
Unlike a business plan, a _________ _______ focuses on winning and keeping customers
marketing plan
Google and Facebook control nearly ___% of all online advertising. Amazon has nearly ____%
60, 10
- building block of all marketing materials - conveys legitimacy and professionalism, established as a rival - more dramatic presentation
Brochure
- The only way to get the best of an argument is to avoid it. - Show respect for the other person's opinions. Never say "You're wrong." - If you're wrong, admit it quickly and emphatically. - Begin in a friendly way. - Start with questions to which the other person will answer yes. - Let the other person do a great deal of the talking. - Let the other person feel the idea is his or hers. - Try honestly to see things from the other person's point of view.
Dale Carnegie
- basic unit of advertising - most are poorly conceived and therefore perform badly - needs a strong motivating message
Print advertising
Four elements determine whether the sale will be made or not.
Rapport, Need, Importance, Confidence
unique selling proposition (USP)
an advertising appeal that focuses on one clear reason why a particular product is superior
5 Fundamentals of successful ads should be able to:
attract attention, appeal to the reader's self interest or announce news, communicate your company's unique advantage, prove your advantage, and motivate readers to take action ( THIS process starts with a Headline)
Set a goal to meet give or more new people at each event. Try one or two new groups per month. Carry your business cards with you everywhere. Don't make a beeline for your seat. Don't sit by people you know. Get active. Be friendly and approachable. Set a goal for what you expect from each meeting. Be willing to give to receive.
being proactive in networking
- A simple profile of your prospective customer is the second step in an effective marketing plan. - can be described in terms of demographics - the more narrowly defined, the less costly
describe your target audience
- strategies and tactics used to reach prospects - detailed tactics to reach prospects, accomplish goals using all stages of the sales cycle
developing market communications strategies
- A wide variety of marketing materials, including brochures, catalogs, postcards, newsletters, and sales letters. - It is one of the most effective and profitable ways to reach new and existing clients. - It lets you communicate one-on-one with your target audience. You can control who receives your message, when, what is in the envelope, and how many people
direct mail
Holiday and Events Celebrity Appearances Co-Sponsoring Anniversary Celebrations Games and Contests
entertainment and novelty attractions
- Use the target audience description from your marketing - plan as a basis for your broadcast buy. - Set a rough budget for broadcast advertising. - Contact local TV and radio stations to meet with a salesperson. - Talk to other people in your area on their experiences with broadcast advertising. - Ask about the audience delivery of the available spots. - Inquire about production. - Compare the various proposals.
essential planning for broadcast advertising
Design a great invitation, do publicizing, provide quality refreshments and entertainment, select a giveaway to promote your business, track information about customers who attend, etc.
grand openings
what is good advertising?
it looks like your competitors
List 3 ways to manage your brand:
keep ads brand-focused, be consistent, and shed the deadweight
The most IMPORTANT thing that brand marketing is supposed to do is to
keep brand awareness high
- A good way to get the word out about your business. -Probably just as easy to do it electronically but paper copies get opened - The primary benefit is it keeps your customers informed about what you're doing. - Those businesses that benefit the most are those who educate customers about the advantages of using their product or service.
newsletters
- can get your ad in quickly, but usually only have a shelf life of 24 hours
newspaper
Branding strategy should include:
one or two elements of your product or service, describe your company's purpose, and define your target customer
you are selling your
personality
- Can beat all other direct-marketing formats when it comes to generating sales leads. - much less costly to prepare and mail - simple for customers to read - convey urgency
postcards (coupons)
- Personalize each call by preparing mentally. - Perfect your phone style alone before making any calls. - Create familiarity all around you. - Use your imagination. - Watch your tone of voice. - Make your goal a fast 50 calls in 150 minutes. - Take a five minute break after 15 calls.
preparation for cold calling
For any ________ advertising, contact the publication first and ask for a media kit, detailing the sizes of ads, demographic information of readers, and the format in which you have to deliver your ad.
is a way to get your business noticed without paying for it.
public relations
To be successful getting publicity, you must identify your target market and develop a well-thought-out
public relations campaign
- more cost effective than advertising - greater longevity than advertising - often reaches wider audience - greater credibility
publicity
- can be surprisingly affordable - with right info, may deliver more customers than any other type of ad campaign
radio and tv advertising
for microtargeting, ________ or ______ __ is a good idea if you only need to reach a small geographic area (can choose a channel specific to your market)
radio or cable TV
It's important to understand ______ __________ _______________ to learn how closely they match your target market.
radio station demographics
The difference between good and great salespeople is
the way they deliver their messages
Effective selling techniques:
understanding your USP, cold-calling/following up, making sales presentations (speaking effectively)
