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Sara Gonzalez Alex Makin Natalia Perera Best Practices For Developing Effective Marketing Strategies and Plans Alex Makin and Natalia Perera Best Practices For Developing Effective Marketing Strategies and Plans Alex Makin and Natalia Perera Overview • • • • • What is a Marketing Plan Capturing Data Turning Data into Strategy Delivering Strategies Conclusion What is Marketing • Australian Marketing Institute – Marketing creates value – for customers, shareholders and society as a whole. – It does this by creating an alignment between what consumers value and what organisations offer. – It offers techniques that help firms better understand the needs, preferences and perceptions of their customers (a prerequisite to adding value to them), and ways of using that understanding to focus the value-creating and communicating activities of the firm into areas where they will be most effective. • American Marketing Association – Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large • Oxford Dictionary – The action or business of promoting and selling products or services, including market research and advertising What does this mean? Marketing incorporates strategies that create value by understanding the organisation’s context and how to reach and influence stakeholders Business Plan = What • What you want to achieve • What do you want to achieve in twelve months? • What do you want to achieve in three years? • Connects all levels of a business/organisation Marketing Plan = How • Supports the vision of the organisation • Determines how to achieve goals • Determines the marketing mix • Sets out actions that achieve goals Best Practice Marketing Plans • Complements existing direction • Understand the broader context • Build on strengths • Mitigates weaknesses • Identifies timeframes • Encourages collaboration • Takes a whole of business approach The Methodology • Capture – Research – Analysis of information • Strategy – Interprets findings – Recommendations • Delivery – Identifies resources – Confirms timeframes 50/50 Approach 50% research, 50% strategy • Research identifies – Competitors – Similar products and services – Key demographics – Situational analysis – The current marketplace – Potential scenarios – Other areas as required • Research informs your strategies The Capture Phase Where do you start? • Who are existing/likely customers? • What are their demographics? • What other stakeholders exist? • Who are your competitors? • What factors will influence marketing? Situational Analysis The SWOT Analysis • Internal factors – Strengths – Weaknesses • These can be controlled by your organisation • Leverage strengths • Understand weaknesses • External factors – Opportunities – Threats/Risks • How likely are these external factors? • What can be undertaken to influence their likelihood? Understanding Customers Who are your customers? • What needs do you fulfil? • What value do your products or services provide? • What market segments have these needs? • What are their common attributes? How? • ABS Data • Customer surveys • Product or service Interaction • Peer networks • Purchasing trends Remember Other Stakeholders • Consider other stakeholders – – – – – – Business Partners Funding Bodies Members Intermediaries Suppliers Volunteers • You will have multiple target markets The Buying Process • What is the length of the buying decision? • Does the buyer use the product or service? • Are there other decision makers? • Are there other influencers? • Need to target the entire buying process Role Purpose User The end beneficiary of the product or service Influencer Influences purchasing decisions Decider Makes the purchase decision Gatekeeper Restricts access to decision makers Buyer The purchaser of product or service Competitor Analysis Everyone has competitors • Direct Competitors – Offer same/similar products and services – Serve similar market segments • Indirect Competitors – Offer different products or services but fulfil the same need • Other Competitors – Other products or services that fulfil a related need The Macroenvironment PESTEL Analysis • Political Factors • Economic Impacts • Social Attitudes • Technological Changes • Environmental Elements • Legal Frameworks What is the impact? • How likely are the identified changes? • What impact will they have on your marketing? • How do you mitigate these impacts? • What does it mean for competitors? The Strategy Phase Research Informs • Your Key Messages • Your target markets • How to reach potential customers • The composition of Products and Services • Unique value proposition Your Objectives • What is the purpose of the marketing plan? • How do these objectives relate to the business plan? • Articulate these objectives Marketing is Collaborative Be Inclusive • Marketing involves an entire organisation – Target key stakeholders – Seek feedback – Review findings • Ensure goals are shared • Implementation may rely on others Potential Tools • Conduct workshops – Share research – Collaborate on objectives – Review findings • Surveys – Identify response rates – Analyse key findings • Interviews Know Your Target Market • • • • Who are they? Why target them? Where are they? How do you reach them? • Connect target markets to strengths • This creates the value proposition How do you respond? • Differentiate? – Create a point of difference and leverage • Innovate? – Do what competitors do better? • Imitate? – Follow the competition? • Aim to create value Unique Value Proposition • What makes you different to competitors? • Why is this important? • How does it provide an advantage? • Is it sustainable? Products and Services • What is the customer experience like? • Are you able to encourage repeat purchases? • Is pricing consistent? Be Consistent • Consistency is critical • Inconsistent messages create confusion • What do you want to solve? • What are the benefits? • How will the target market respond? • Demonstrate tangible value Marketing Communications • What marketing currently exists in your organisation? – – – – – – – Websites/social media Brochures/leaflets Newsletters Media releases Information sessions Events Telephone/email correspondence • Every form of contact leaves an impression Headlines • Know who you are targeting • Appeal directly to the reader • Make a claim • Offer advice • Give a command • Offer a challenge The AIDA Formula A - Attention • Gain it through the headline • Hold it by integrating the headline and body copy. I – Interest • Maintain with creative interesting copy • Copy appeals to the reader’s emotions and sense of “What’s in it for me?” D – Desire • Build it by persuading the reader to want to respond • The reader knows that by taking a course of action, they gain a benefit A – Action • Motivate the reader to call you or visit you • Make it easy for the reader to respond Effective Design • Know your medium • Know your audience • Aim to evoke a rational or emotional response • Eye catching • Complement and enhance copy The Delivery Phase Putting it together • What actions will achieve your strategies? • How do they help achieve your strategies? • How will it be measured? All Marketing is Measurable • Identify metrics • Online Tools – Google Analytics – Google Alerts – Sharing of content • Offline Tools – Codes – Telephone numbers – Or Asking • Measure outcomes Implementation Schedule • Identify steps required for each actions • Know who is responsible • Understand the resources needed • Identify timeframes Action Responsibility Resources Timeframes Outcomes Seeking Grants • Find relevant funding bodies • Philanthropic and government sources • What value do you provide? • How does it align with funding partner? Understanding the media • The media is an audience for your event • Why would they cover your event? • What is the story? • Find a relevant angle Event Management • Effective event management requires detailed planning and processes • Events need to be planned in advance • Treat event management as a marketing exercise = use marketing principles Social Media • Extends the reach of your online presence • Integrate with website • Understand who you want to reach • Use the right tools for the right purpose Responding to change • Marketing is dynamic – Compare results to expectations – Why is there a deviation? • What has changed? • Is this a problem? Conclusion • Marketing requires strategy • Undertake research to understand markets • Know what you want to achieve • Plan implementation • Measure results Syneka Marketing Success Starts with Strategy Marketing Plans Outsourced Marketing Award winning methodology Businesses, Not-forProfits and Social Enterprises Dynamic and Innovative Leadership Team Alex Makin • Managing Director • Big picture focused • Strategic thinker • 15 years marketing and communications experience • Former Mayor and Councillor • Public speaker • Author and mentor Leadership Team Natalia Perera • Innovation Director • Detail focused • Creative thinker • Marketing agency background • Finance qualifications • Avid researcher and out of the box thinker Thank You Free access to our Marketing Self Assessment (Normally $550) Email [email protected] for details Syneka Marketing Workplace 1300Giving 965 Month 989 http://www.redkite.org.au/your-workplace [email protected] 204 Bank Street, Support https://www.facebook.com/redkitesupporters South Melbourne www.synekamarketing.com.au Find out more https://www.redkite.org.au/