Entrepreneurial Marketing Paul J. Werner

Transcription

1 Entrepreneurial Marketing Paul J. Werner 1

2 Welcome to Entrepreneurial Marketing Connecting Entrepreneurial Communities! East Tawas, MI October 8,

3 Introduction to Entrepreneurial Marketing Marketing Mathematics Anatomy of Advertisements Badvertising Websites / SEO Social Media Marketing Metrics Conclusion 3

4 Marketing Question Is Advertising Expensive? 4

5 Marketing Mathematics Measure Results using Typical Gross Margin Results Measured by Incremental Sales ROI = Incremental Contributions to Gross Margin 5

6 Gross Margin Example Hammer: Sell $30 Revenue: Hammer: Cost $20 COGS: $30 $20 Hammer: Profit $10 Gross Profit: $10 6

7 Incremental Sales Advertising Expense: $1,000 How Many Incremental Hammer Sales to Break Even? Revenue: $30 COGS: $20 Gross Profit: $10 Ad Expense / Gross Profit = Incremental Sales for BEP 1000 / 10 = 100 Incremental Hammer Sales to Break Even 7

8 Advertising ROI: Gross Margin Calculate Gross Margin Gross Profit / Revenue 10 / 30 =.33 (33%) 8 Revenue: $30 COGS: $20 Gross Profit: $10

9 Advertising ROI with Incremental Sales Cost of Advertisement / Gross Margin = Incremental Sales Needed $1,000 /.33 = $3,030 Gross Profit: $10 Revenue: $30 Gross Margin: 33% 9

10 Calculating ROI Using Gross Margin 205,899 = 50% 411,798 Adverting Expense: $5,000 10

11 Calculating Advertising ROI $5,000 = $10,000 Incremental 50% Sales Needed 11 $411, ,000 = $421,798 Total Sales Needed

12 Summary: Calculate Advertising ROI Total Incremental Cost of Advertisement = Sales Gross Margin % Needed For ROI 12

13 Anatomy of Effective Print Advertisements Attention Device Emotional Graphic Body Copy Call to Action 13

14 Anatomy of Effective Print Advertisements Attention Device Emotional Graphic Body Copy Call to Action 14

15 Anatomy of Effective Radio Advertisements Focus on Target Market Attention Device Emotional / Funny / Compelling Message Tell a Story with Beginning, Middle, Resolve Call to Action 15

16 Anatomy of Effective Radio Advertisements Focus on Target Market Attention Device Emotional / Funny / Compelling Message Tell a Story with Beginning, Middle, Resolve Call to Action 16

17 Anatomy of Effective TV Advertisements Focus on Target Emotional Message Tell a Story Beginning, Middle, Resolve Call to Action 17

18 Anatomy of Effective Online Advertisements Focus on Target Market Emotional Message Moving Graphics Call to Action 18

19 Badvertising Ego Buys No Advertising Framework Sales People Write Advertisements Saying Too Much Trying to Reach Everybody 19

20 Badvertising: Ego Buy Usually Contains Founder s Photo/Voice/Character Immeasurable Results Designed to Impress Purchaser of Ad Ignores Target Market 20

21 Badvertising: Missing Framework 21

22 Badvertising: Saying Too Much 22

23 Badvertising: Saying Too Much Saying Everything is Saying Nothing Talking to Everybody is Talking to Nobody Too Much Copy Looks Like the Publication Less Is More! Less Copy, More Emotional Graphics 23

24 Badvertising: Saying Too Much 24

25 Badvertising: Ego Buy 25

26 Badvertising: Missing Framwork 26

27 Badvertising: Saying Too Much 27

28 Badvertising: Talking to Everybody 28

29 Badvertising: Salesmen Copy Sales People are Trained in Selling (Extracting Money from Your Wallet) Not Trained in Advertising Not Trained in Marketing Communications Not Trained in Mass Communications Copy Results in Announcement Disguised as Advertisement 29

30 Strong Web presence: SEO Relevant Copy Keyword on Page Title Strong Meaningful Headlines Keywords in Content Title Tags Use Social Sharing Buttons Alt Tags on Images Old Domain Names Inbound Links Meta Descriptions 30

31 Strong Web presence: SEO Relevant Copy Strong Meaningful Headlines Page Title Keyword Alt Tags on Images Outbound Links 31

32 Strong Web presence: SEO Paid Advertising Page Title Page Title Keyword Meta Description Organic Search Results 32

33 Strong Web presence: Landing Pages Landing Pages are Separate Sites/Pages for Promotions Google AdWords + Landing Pages = Measured Results Drive Traffic to Special Landing Pages to Measure Results Used for Social Promotions Used to Measure Different Campaigns Easy to Measure Conversion Rates 33

34 Social Media & Marketing Complimentary not Replacement Build Brand Acceptance, Equity, Ambassadors High Touch Marketing Tactic 34

35 Social Media & Web Presence Many Platforms Available Create Profile in All You Can Use only 1 or 2 Follow Steps for Effective Implementation of Social Media Marketing Tactics 35

36 Social Media & Marketing: 4 Implementation Steps 1. Join 2. Listen 3. Learn 4. Post 36

37 Social Media & Marketing: Tactical Execution 5 Items A Actionable E Educational I Inspirational O Outrageous / Funny U Useful 37

38 Social Media & Marketing: Posts are 4 to 1 Ratio 4 A-E-I-O-U Posts 1 Sales Attempt 4 to 1 Ratio! Avoid Salesman Syndrome 38

39 Entrepreneurial Marketing: Metrics Rule #1: Measure EVERYTHING! Rule #2: If you Can t Measure, Don t Spend! 39

40 Metrics: How To Measure ROI on All Efforts Count number of Likes Retweets Pins Reposts for Individual Efforts Use Google Analytics for Conversion Rates, Bounce Rates, Page Views, Search Terms, Type of Device 40

41 Metrics: Google Anayltics 41

42 Metrics: Google Anayltics 42

43 Metrics: Google Anayltics 43

44 Metrics: How To Set Up Landing Pages for Social/Web Promos Use Coupon Codes for Print / Online Coupons Measure Incremental Sales Vs. Same Time Last year Watch Gross Margin Measure Spending/Sweat Equity Put Different Offers on Radio/TV/Newsprint, Measure Which One Sells Better 44

45 Metrics: How To Call to Action to Different Landing Pages for Different Media Ask Floor Traffic Where They Heard About Company Use Different Phone Numbers for Different Print Ads 45

46 Metrics: How To Use Constant Contact and Count how Many Recipients Downloaded Photos Measure Incremental Sales! 46

47 Conclusion of Entrepreneurial Marketing Marketing Mathematics Anatomy of Advertisements Badvertising Websites / SEO Social Media Marketing Metrics Conclusion 47

48 Thank You Paul J. Werner 48