10 Habits of World-Class Marketers Entrepreneur Quest 2009 Mike - - PowerPoint PPT Presentation

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10 Habits of World-Class Marketers

Entrepreneur Quest 2009

Mike Barzacchini

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“But, I’m not a marketer.”

(or worse, “I’m a marketing expert!”)

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Marketing is not the brochure.

It’s not the Web site, either. Or the TV commercial, newspaper ad or billboard.

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When was the last time you saw a TV commercial from:

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“Amazon.com puts improving the customer’s experience ahead of near-term profits. Rather than spend on TV ads, the company plows Amazon’s marketing budget into free shipping on orders over $25. That resulted in a shipping loss last year, but it also helped recharge sales, which grew 42% in the recent holiday quarter while profits more than doubled”. -- Business Week, 2008.

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So what is marketing?

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The clear, strategic articulation of the true thing that makes your business distinct in its industry and meaningful and valuable to its customers.

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So, then, what’s world-class?

 Unique  Engaging  Valuable  Remarkable  Effective  Authentic  Audience-focused

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I am not a target; I am a person: Don’t market to me, communicate with me.

The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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Don’t wear out my name, and don’t call me “friend,” until we know each other.

The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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When you say “sell,” I hear “hype.” Clarity trumps persuasion. Don’t sell; say.

The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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I don’t buy from companies; I buy from people. The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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And here’s a clue: I dislike companies for the same reason I dislike people. Stop

• bragging. It’s

disgusting. The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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And why is your marketing “voice” different from your real “voice”? The people I trust don’t patronize me. The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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In all cases, where the quality of the information is debatable, I will always resort to the quality of the

• source. My trust is not

for sale. You need to earn it. The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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Dazzle me gradually: Tell me what you can’t do, and I might believe you when you tell me what you can do. The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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In case you still don’t “get it,” I don’t trust you. Your copy is arrogant, your motives seem selfish, and your claims sound inflated. If you want to change how I buy, first change how you market.

The Prospects Protest

Marketing Experiments (marketingexperiments.com)

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10 World-Class Marketing Habits

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• 1. Have a single focus

 Decide what business you are in.  Develop a marketing mindset.  Do one thing. Do it well.  Niche matters.

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VS.

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“Wal-Mart Outpaces a Weak Economy”

• - NY Times, February 18, 2009

“Family Dollar profit jumps 33%” -- MarketWatch, April 9, 2009

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Be who you are…brilliantly.

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• 2. Embrace your customer

 Whom do you serve?  What do you want them to do?  Why should they care?

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Customized perks

“Baby me” packages for expectant parents, which include a onesie and “womb service” menu items such as pickles and ice cream. Cat lovers get baskets of cat toys and treats at check-in and they can request litter boxes and a "Meow-ow Box" first- aid kit. -- Business Week 2008

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Because half of its customers are women, TrueValue remodeled many stores to be more female-friendly. Moving gardening items to the front of the store and offering a wider selection of paint and bath fixtures. Average transaction size has increased by double digits in the remodeled stores. Segment leaders like Lowe’s have taken a similar approach.

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Springwise.com

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Springwise.com

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Springwise.com

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What do you know about your customer?

How can you tailor your product or service to deliver a unique and relevant experience that creates value and builds a lasting relationship?

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• 3. Position your business for success

 What is your position in the market?

 Envision the position you want to hold  Make a plan  Claim it

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“In an over‐communicated world, you must over‐simplify your message to be heard.” Ries and Trout 1972

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Identify an effective value proposition

Marketingexperiments.com

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Express an effective value proposition

1) Ask yourself: “Why should my ideal prospect (the group you intend to serve) buy from me instead of a competitor?” 2) Compare your answer with the claims of your main competitors. 3) Refine your value proposition until you can articulate it in a single, instantly credible, sentence. 4) If you had just 10 words with which to describe why people should buy from your company instead of someone else, what would you communicate? Marketingexperiments.com

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What unique position does your business hold in the marketplace?

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• 4. Be distinct and unique

 Don’t forget to “moo.”

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We have now moved into an era where markets are largely satisfied, and to be noticed a product

and its marketing need to be remarkable to be seen

at all, let alone to sell.

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Old rule: Create safe products and combine them with great

• marketing. Average products for average people.

New rule: Create remarkable products that the right people seek

• ut.

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“How did Dutch Boy Paint stir up the paint business? It's so simple, it's

• scary. They changed the can.” -- Fast

Company

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What are your purple cows?

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• 5. Discover whom you need to know

and start the conversation

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Rank the most important element of your direct marketing campaign:

___Copy ___List ___Offer

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Avoid waste: “Don’t waste my time. Don’t waste your money.” Don’t sell lawn care to condo owners.

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Use expert resources:

• Melissadata.com
• Accudata.com
• MyEmma.com
• Exacttarget.com

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Springwise.com

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Who needs to be in your conversation? How do you reach them?

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• 6. Deliver authentic experiences

 We live in the experience economy

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Rainforest Café Chuck E. Cheese Legoland Benihana Disney Fair Oaks Farms Starbucks

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Springwise.com

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Springwise.com

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What experiences does your business deliver?

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• 7. Create value

 Communicate something of value

 Special reports  Whitepapers  Expertise  Ideas  Hints and tips  Samples  Demos

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Spotlight Graphic Solutions Daytrotter.com Marketing Experiments Elmer’s Costco Panera Bread Freegreen.com

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Springwise.com

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Springwise.com

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Springwise.com

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Math says Denny's free breakfast a good deal for the company, too – walletpop.com

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• 8. Integrate

 One channel won’t work  Don’t put all of your messages in one basket  More ≠ Better  Better = Better

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www.rimarketing.com

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• penlearn.open.ac.uk/

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Average American Surfed 2,554 Pages in March

Source: Nielsen Online

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• 9. Have a plan.

 Work the plan  Test and learn  Track and measure

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Marketing Plan Outline

 Purpose  Your Target Customer  Benefits of Your Product or Service  Your Positioning  Your Marketing Tactics  Your Marketing Budget

American Express Small Business Services

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Keys to a Successful Marketing Plan  Keep your marketing plan simple.  Write your marketing plan down  Be direct and be clear.  Don't build in too much flexibility.

American Express Small Business Services

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196 Possible Marketing Questions

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• 10. Check in with your plan regularly

 Schedule regular marketing meetings

 (even if they’re just with yourself)

 Review your marketing plan often - quarterly or even monthly.  Never stop marketing

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Now that you’re a world-class marketer…

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The MarketingExperiments’ Creed (Response)

We believe that people buy from people, that people don’t buy from companies, from stores,

• r from Web sites; people buy from people.

Marketing is not about programs; it is about relationships.

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The MarketingExperiments’ Creed (Response)

We believe that brand is just reputation; marketing is just conversation, and buying is an act of trust. Trust is earned with two elements: 1)integrity and 2)effectiveness Both demand that you put the interest of the customer first.

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The Marketing Experiments’ Creed (Response)

We believe that testing trumps speculation and that clarity trumps persuasion. Marketers need to base their decisions on honest data, and customers need to base their decisions on honest claims.

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Resources for World-Class Marketers

1to1media.com Marketingprofs.com Marketingexperiments.com SethGodin.com Fastcompany.com Businessweek.com/smallbiz/successstories/ TomPeters.com thankyouverymuchinc.com

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Resources for World-Class Marketers

Entrepreneur.com Trendwatching.com Springwise.com American Marketing Association Direct Marketing Association Brandchannel.com

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Let’s continue the conversation

 What are your great marketing ideas?  Where are you stuck?  What would you like to try?  What have you tried before?

 Why did it work?  Why didn’t it work?

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Let’s continue the conversation

 Thank you!  Mike Barzacchini

 mbarzacc@harpercollege.edu