Marketing. Business: It Starts with a Plan! Kate Dunn. Director, Keypoint Intelligence/InfoTrends

Transcription

1 Marketing Your Business: It Starts with a Plan! Kate Dunn Director, Keypoint Intelligence/InfoTrends

2 Event Host Welcome! Kurt Konow Director, Creative and Content Marketing Ricoh USA, Inc.

3 Business Development Webinar Series The Art of Finding New Customers Tuesday, November 14, :30 4:00 p.m. EST Marketing Your Business Wednesday, December 13, :30 4:00 p.m. EST Selling 101: Best Practices for PSPs Wednesday, January 17, :30 4:00 p.m. EST

4 Ricoh Business Booster Extras Link to replay Webinars PDF of Slides

5 GoToWebinar: Attendee Participation Your Participation Open and hide your control panel Join audio: Choose Mic & Speakers to use VoIP Choose Telephone and dial using the information provided Submit questions and comments via the Questions panel Note: Today s presentation is being recorded and will be provided within 48 hours.

6 Today s Speaker Kate Dunn Director Keypoint Intelligence InfoTrends

7 Top Sales Priorities What are the top THREE priorities for your sales team in the coming year? Find new customers 72.4% Sell more to existing clients 61.0% Increase sales of value-added services Increase retention of existing clients 38.6% 46.0% Increase sales of new print-related products Increase margin on products sold Decrease reliance on sales team by increasing online orders 14.3% 33.5% 33.1% Priorities are consistent across firms the challenge is execution! Other 1.1% Three Responses Permitted 0% 20% 40% 60% 80% N = 272 Total Respondents Source: Best Practices of High-Performance Print Sales Organizations, InfoTrends 2016

8 You Need to Invest! Marketing spending as a percentage of firm revenues by economic sector B2B Product B2B Service B2C Product B2C Service 8.8% 7.7% 9.4% 9.3% Marketing spend as a percentage of firm revenues by company sales revenue < $25 Million $26 to $99 Million $100 to $499 Million $500 to $999 Million $1 to $9.9 Billion > $10 Billion 11.1% 6.0% 8.6% 3.5% 5.5% 6.0% Sources: CMO Survey Highlights, 2013; Duke Fuqua School of Business and AMA, Kabbage Small Business Confidence December 2015

9 You Need to Get Moving! Only 15% of short-term results are a result of today s marketing initiatives Today s marketing will be responsible for 85% of longterm results

10 Better Results Without Breaking the Bank! Over 19% of marketing spend fails outright 67% of spend could see a significant improvement in results without additional cost Key areas for modification: Messaging: A better understanding of your customer s motivations Marketing Mix: VeriSign found that 10% of spend drove 98% of their desired actions Integration: Tactics are often not synchronized, reducing efficiency and effectiveness Source: What Sticks, Rex Briggs & Greg Stuart

11 Tracking Return is Difficult Know marketing is ineffective, 14% SMB Owners Think marketing is effective or somewhat effective, 36% Half of SMBs surveyed are unsure if their marketing is effective and another 14% know it is ineffective! Don't know if marketing is effective, 50% Source: ChiefMarTec.com

12 Keys to Success Create a strategic marketing plan that is built to capitalize on your differentiators Communicate relevant information to your audience Make your marketing engaging, interactive, and trackable Use multiple channels and tactics, but be mindful of your bandwidth. Less can be more! Communicate regularly to get and keep mindshare Make things interactive so you can track results Pay attention to your results and make modifications to continuously improve

13 An Even More Simplified Process! 1. Focus 2. Be Relevant & Engaging 3. Be Findable 4. Streamline Net it Out! 5. Communicate Regularly 6. Track What You Do 7. Keep Learning

14 Step 1: Focus What do you sell? Who do you sell it to? Why do they need it? Why should they buy from you? Be clear about the basics!

15 It s Not About Quality, Price, and Service! Only 14% of customers perceive a real difference between supplier offerings AND value the difference enough to pay for it! 14% Source: Corporate Executive Board

16 What Makes You Different? Answer these questions: What value to do you deliver to your customers? Can you quantify it? What do you do differently than your competitors? Are there processes or approaches that make you different? Do you have a unique culture that has value for your customers? Does your sales process ensure more value for customers?

17 B2B Customers Want A rep who offers unique and valuable perspectives on the market A rep who helps them navigate alternatives A rep who helps them avoid potential land mines A rep who educates them on new issues and outcomes A supplier who is easy to buy from A supplier with widespread support across the organization Source: Corporate Executive Board

18 Step 2: Be Relevant and Engaging Customer response rates increased year-over-year by an impressive 43%, but prospect response rates more than doubled demonstrating an astounding 190% increase! Tracking has given us more information on customer behaviors, preferences, and needs and this information drives response! Source: DMA 2016

19 Focus on Profitable Segments

20 Find More Customers Like Your Best Ones! Simple Segmentation: Customers and prospects Upsell opportunities Type of decision-maker Geographic markets Vertical markets

21 Customers Expect Personalization! What percentage of your customer communications or marketing campaigns fit into the following categories? Personalized Marketing (One-to- One), 29% Mass Marketing (One-to- Many), 36% Segmented Marketing (One-to- Few), 33% Source: Micro to Mega: Trends in Business Communications; InfoTrends 2015

22 Personalization Works Across All Channels! Personalized video and location-specific ads: 50% increase in brand awareness 53% increase in purchasing intent Personalized produces transaction rates and revenue 6X that of non-personalized Sources: ClickZ, KissMetrics, DMA Personalizing print with variable data messaging can increase ROI between 2X and 15X the normal return! Retailers who personalize web experiences see an average sales increase of 19%

23 Print Creates Engagement Sizes, shapes Textures Inks and Finishes Interactivity Scents Dimensional Mail Averages a 33% Lift Sources: DMA, Get Response, Wishpond

24 Show Your Customers How It s Done! What is the average RESPONSE RATE of campaigns that use the following combinations of media channels? (Means) Mobile applications only Social media only Print only Print and mobile applications only Print and social media Print and Print, , social media, and mobile apps 6.6% 7.2% 7.4% 7.9% 7.9% 8.3% 8.8% 9.5% N = 440 Enterprise Respondents who measure campaign results Source: Micro to Mega: Trends in Business Communications, InfoTrends % 2% 4% 6% 8% 10%

25 Step 3: Be Findable 94% of business buyers perform some type of online research 77% search using Google 84% check business websites 34% use third-party websites 41% read user reviews The average person consults 10.4 sources before finally making a purchase Great Website Content - Case Studies, White Papers, Blogs, User Reviews, Videos Pick The Right Social Media Public Relations Sources: Acquity Group, 2015 State of B2B Procurement Study, ClickZ, GE Capital Retail Bank Study

26 Step 4: Streamline You can t do everything at once Pick things that are easier to execute Use themes and templates for the year Complete is better than perfect!

27 Get Help! Outsource the things you don t have time to do or aren t good at!

28 Step 5: Communicate Regularly Send shorter messages, more often Touch your prospects and customers at least once per month to start with, then work your way up Repurpose content to make things easier A direct mail copy stat can be tweeted, a customer spotlight can be in the newsletter and on Facebook Send a direct mail piece and then send a follow-up to encourage response

29 Step 6: Track What You Do Build ways for customers to interact into all your tactics purls, curls, QR Codes, Augmented Reality, NFCs Video links, call tracking Rich media links in digital Social media links so it s easy for people to talk about you!

30 Step 7: Keep Learning and Modifying 2 Messaging/ Channels 3 Trackable Response Mechanisms 4 Capture Information 1 Data 78% of leads never convert into sales! Failure to nurture interest is the most common cause! 5 Nurture Activities 8 Analysis/ Best Practices 7 Promote 6 Revenue

31 Summary and Recommendations Complete is better than perfect! Fewer tactics that are executed regularly is better than a lot of stuff thrown against the wall! Try, analyze, and modify! Use partners to handle things you don t have bandwidth to do yourself. Invest in technology to make customization easier, reduce costs, and launch marketing initiatives more quickly. Keep going! Revenue growth at companies with more advanced marketing and sales capabilities tended to be 30% greater than the average company within their sector Source: McKinsey, March 2015

32 Quick-Start Plan Marketing goals & tactics Which segments will You target? What channels make sense for this objective? What key messages do you want to convey? What will your interactive elements be? What will you track? How often should you use this tactic? Create Awareness Generate Leads Nurture Interest Build Loyalty Cross-Sell Additional Services

33 Q&A Any Questions?

34 Business Development Webinar Series The Art of Finding New Customers Tuesday, November 14, :30 4:00 p.m. EST Marketing Your Business Wednesday, December 13, :30 4:00 p.m. EST Selling 101: Best Practices for PSPs Wednesday, January 17, :30 4:00 p.m. EST Sign Up Here!

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