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5 Core MarketingConcepts

Lifelong Learning 2007

Presented by Paul Franklin

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The Five Core MarketingConcepts

Everything we do is marketing.

We want to segment the market.

We should market affectively, not justcognitively.

We are part of the direct marketingbusiness.Retention marketing supports growth.

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Goal of Marketing

The primary goal of marketing is

to establish a positive image andrelationship with your present &potential participants .

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Everything We Do isMarketing

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5

Ways You Portray Your Program

The facility you hold your courses/events The way you reject potential teachersHow you say hello

Your hold buttonHow long is someone on hold?Is there music? What kind?

Your course/event selection Your registration process Your website

Your shopping cart

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Establish a Position inYour Participants Minds

Your programs nameLERN

A sloganInformation That Works!

A logo

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We Must

Segmentthe Market

7

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Average

Segment

Segment the Market

You want to segment the market becauseyou serve some, but not all, demographicgroups.

There is no average participant.

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The ideal number of market

segments is 7.

Market Segmentation

A process by which you distinguish ordifferentiate your top customer groups, buildseparate demographic profiles, and thendeliver different products, marketed bydifferent promotions to your differentcustomer groups.

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Market Affectively,Not Just Cognitively

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Affective Cognitive

Market Affectively,Not Just Cognitively

You want to create a feeling aboutyour program through your

promotions.Market to peoples hearts, emotionsand feelings, not just to their heads.

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3-30-3 RULE

3 seconds to GRAB ATTENTION. Thats the job of the cover or headline.

30 seconds to answer the question WHATS IN IT FOR ME?

Thats the first two pages or first paragraph.

3 minutes to reinforce and bring em toACTION.

Thats the balance of the piece and registration.

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I = Interest= First 2 Page

D = Desire= Session/CourseDescription

Plus other copy

A = Action= RegistrationInformationand Form

AIDA

A = Attention

= Cover

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We Are Partof the DirectMarketingBusiness

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Direct Marketing

Direct marketing can be measured,and you can find out what does and

doesnt work.

Direct marketing is:Measurable

Tracked and quantified Tested

Mathematical relationships

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Direct Marketing makesmarketing more science than art

EXAMPLE: Major brochure coverchange

Options:1. Just do it. I know best and my graphicsperson agrees with me.2. Split test new concept against the old andsee which one works the best.3. Focus group.

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Direct Marketing makesmarketing more science than art

EXAMPLE: Title for new certificateprogram

Options:1. Staff brainstorm and I pick the best.2. Survey best customers, quantify theresults and use the one rated the highest.

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Direct Marketing makesmarketing more science than art

Collect brochure response rates &analyze the results.Analyze responses for different datesmailed/e-mailed.Analyze mix of media.Analyze days of the week.Analyze venues.Collect data and analyze it all!

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Direct Marketing Techniques

Make it more science than art. Take away some of the risks.Reduce stress.Make you more money.Lead to happier and more satisfiedcustomers because you betterappeal to them and their interestsand needs.

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Retention

MarketingSupportsGrowth

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The Value of Retention

$$$$$$$$$$$$$$$$$$$$$$$$$$

It costs 6 times more to get a newcustomer than it does to retain acurrent customer.

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Retention MarketingSupports Growth

2006 2007

1K 2K

500 Sign Up Both Years50% Repeat Rate

500/1K = 50%

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Repeat Business ProvidesExponential Dollar Value

The Power of Life Time Value.

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LifeTime Value

1(1-repeat rate)

x average course/eventfee

1(1-.66) x $100 = $303.30

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1(1-.75)

x $100 = $400

*If you can increase the repeat rate, you will increase the LifeTime Value(LTV).

1(1-.66)

x $150 = $441.18

*If you can increase your average course/event fee, you will increase the LT

Repeat customers also generate customerreferrals,

which generate additional income25

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Thank You!