MARKET THYSELF! MARKETING FUNDAMENTALS AND THE 30-SECOND ELEVATOR PITCH

MaryJane Mudd

Full Tilt Communications

August 19, 2011

WE WILL COVER:

What’s marketing, anyway?

Fundamental questions

Eight marketing planning

steps

Social media’s role in the

marketing mix

The 30 second elevator pitch

Resources

WHAT’S MARKETING, ANYWAY?

WHAT IS MARKETING?

Marketing is the activity and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

--The American Marketing Association

CLASSIC MARKETING: THE 4 P’S

Product

Price

Placement Promotion

STRATEGIC MARKETING VS. TACTICAL

VS.

FUNDAMENTAL QUESTIONS

FUNDAMENTAL QUESTIONS What are my primary

services or products? Who is my target

audience? What’s the pain point for

my target audiences? How can I best reach my

audiences? How can I differentiate

myself or my products/services from competitors?

How much can I spend in terms of time and money?

EIGHT MARKETING PLANNING STEPS

CREATE A PLAN!

It provides a sense of purpose and direction

Acts as a guide to implementation and control

EIGHT MARKETING PLANNING STEPS

Step 1: Situation AnalysisStep 2: ObjectivesStep 3: StrategiesStep 4: BudgetingStep 5: TacticsStep 6: CoordinationStep 7: Measure EffectivenessStep 8: Evaluation

1. SITUATION ANALYSIS: TARGET AUDIENCE

Know thy audience! Cultural and social

influences, individual differences, decision processes

Definition and identification of target groups

How? Name recognition

surveys Online polling One-on-one interviews Value your own

experience Other

SITUATION ANALYSIS: NEXT…

Segmentation If jewelry, consider various consumers and their

needs If IT services, consider various consumers and

their needs Competition

Who is in your space? Are your products or services better? The same? What’s your value message?

SWOT analysis Strengths, Weaknesses, Opportunities, Threats

4 P’s

2. SET YOUR OBJECTIVES

Objectives should be SMART:SpecificMeasurableAttainableRealisticTime limited

3. DETERMINE KEY STRATEGIES FOR MEETING THOSE OBJECTIVES

For example: Objective: Increase awareness of DRC

services by 20% in Third Ward, Houston. Strategy: Rely on face-to-face communications

channels trusted by the local community.Tactics:

• Church meetings Town halls Breakfast groups Parent sessions

• Public festivals Health fairs Art shows…

4. SET YOUR BUDGET

Try to develop a budget to meet your plan, and not a plan to meet your budget

Develop the plan, then revise if needed per budgetary constraints, priorities

Advertising Social media

Blogging Linked In, Twitter, Facebook,

other social networks Web sites Articles/publishing Media relations: press

releases, media comments Public speaking Outdoor advertising,

signage Brochures, collaterals Cause-related marketing Event marketing Networking: Industry

events, breakfast clubs, boards

5. DETERMINE TACTICS TO REACH YOUR AUDIENCE/SEGMENTS

6. COORDINATE MARKETING EFFORTS

Create a timeline—schedule execution

Microsoft Project or other software may help

Achieve proper balance between program elements

Delegate if possible; use personnel and outside services

Revise budgets, elements, as needed

7. MEASURE EFFECTIVENESS

To be measured: Awareness Interest Recognition Recall Attitude change Behavioral intentions Revenues Client numbers

How? Formal surveys Online polls Project evaluations Sales from leads

generated through marketing

Increased revenues Increase in clients

8. EVALUATE

Is there a return on investment?

Am I spending too much time on marketing?

Too much money?

What could be done differently, more efficiently?

Is the market changing?

The marketing process is ongoing.

HOW SOCIAL MEDIA IMPACTS MARKETING

SOCIAL MEDIA OMG – WHERE TO START?

HOW SOCIAL MEDIA WORKS

“Turn strangers into friends,Turn friends into customers,

And then… do the most important job:Turn your customers into sales people.”

- Seth Godin

LINKEDIN: 120 MILLION USERS

Twitter: 106 MILLION USERS

Twitter is a social network consisting of short updates, or tweets

You post tweets for your followers to read Your followers post tweets for you to read Platform for the web or your mobile device

750 MILLION USERS

FAN PAGE

THE 30 SECOND ELEVATOR PITCH

1. IDENTIFY WHAT’S REALLY UNIQUE

2. MAKE YOUR HEART RACE

3. KISS: KEEP IT SIMPLE…

4. WRITE IT OUT

5. REHEARSE, REFINE, REHEARSE

MARKETING PLANNING RESOURCES

http://www.quickmba.com/marketing/plan

Essentials of Marketing: A Marketing Strategy Planning Approach, by Perreault, 11th Edition 11 w/CD

Guerrilla Marketing For Consultants: Breakthrough Tactics For Winning Profitable Clients, by Jay Conrad Levinson

MORE RESOURCES

www.marketingprofs.com

www.webmarketcentral.blogspot.com

www.ama.org

www.technorati.com

MaryJane Muddmjm@fulltiltcomm.comwww.fulltiltcommunications.comwww.twitter.com/MJMuddwww.linkedin.com/in/fulltilthttp://www.facebook.com/FullTiltCommhttp://maryjanemudd.wordpress.comWork: 281.589.2256Cell: 281.562.2954

Thank you!