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Download Marketing Plan Guide - Australian Business and Management Network
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Australian Business and Management Network Marketing Plan DRAFT Marketing Plan DRAFT Page 1 of 15 Australian Business and Management Network Marketing Plan DRAFT Summary ABMN has experienced mild growth in its membership base, but a higher than average renewal of memberships. Training products and services experienced a better than expected growth in 2014. This is partly and directly attributable to a range of targeted marketing strategies and activities, focusing on face-to-face marketing activities, such as networking and attendance at events and conventions. The addition of the Quality Auditing training products and consulting services also resulted in slightly higher returns, although more research is needed to better understand customer and market needs. In 2015, ABMN will continue to increase brand awareness to non-members, provide more value to existing members, and will also take advantage of a range of promotional activities via online marketing channels and forums through a targeted e-marketing strategy, that will present little to no cost to the organisation. The release of ABMN’s Strategic Plan for 2015 to 2018 will also have a significant impact on the direction and focus of marketing activities for the coming year. The Strategic Plan has also been included in the document (see below) to show the link between marketing activities and overall strategic goals. The Future of ABMN Vision statement Setting the global standard for business excellence and innovation Mission statement To be integral to the business success of ABMN members through the provision of exceptional services, support and advice. Page 2 of 15 Australian Business and Management Network Marketing Plan DRAFT Strategic goals and objectives Goals Objectives Area responsible 1. Be an industry leader. 1. Foster and develop innovation and creativity. ALL 2. Demonstrate best practice across all areas of the business. ALL 3. Attract, develop and retain the best staff. People, Culture & training 4. Minimise our impact on the environment. ALL 1. Continually increase active membership. Marketing 2. Foster and maintain relationships with members. Products & Services Marketing 3. Enable members and clients Australia-wide to network regularly. Marketing 1. Continually improve products and services to meet changing business needs. Marketing Products & Services 2. Develop a knowledgeable and highly-skilled staff. ALL 3. Produce a profitable range of products and services. Marketing New Ventures 2. Largest professional network in Australia. 3. Excellence in product and service delivery. Page 3 of 15 Australian Business and Management Network Marketing Plan DRAFT SWOT. Analysis Strengths One-stop shop One of the largest professional networks in Australia Reputable and trusted Offer range of specialist services Multiple marketing channels (online, f2f, email, web, print) Wealth of knowledge and experience in HR, Marketing and Small Business Innovative and responsive Low overheads Membership features (unique) Value for money Loyal membership base Traditional/solid/respectable image Sustainable work practices Weaknesses Average customer service Lack of gravitas Lack of knowledge in international business Lack of market research / information Ad-hoc approach to marketing Internal systems and processes Lack Opportunities Innovation Expanding NBN Potential markets: Threats Competitors Economic downturn Staff turnover Change in client preferences (self-learners) Decrease in consumer demand Competitors offering student m’ships Competitors offering f2f training / short courses Free online education, tutorials, training videos, etc. Online resources, such as articles and blogs providing expert advice for free Govt. advice/support agencies Specialised professional associations International business Expanding NBN Regional development Sole traders / partnerships Small business Multinational Government/public entities Students Academics Website development Govt. education funding Align with govt to deliver training Micro-business / sole trader advice and support Continued HE and TAFE funding/HECS of integration between departments Outsourcing of services Lack of customer perception High staff turnover Technology-dependant Limited membership types Ineffective website Lack of promotion / reliance on word of mouth, networking events to obtain new members Page 4 of 15 Australian Business and Management Network Marketing Plan DRAFT Our products and services Membership ABMN offers two levels of membership: Individual and Corporate. Aside from having access to one of the largest networking communities in Australia, membership offers a range of other benefits, such as free and discounted training, support and advice, as well as access to ABMN’s exclusive monthly eNewsletter and eBulletin, providing insight into new and emerging practices in members’ industries and professions. Training Products ABMN offers both face to face and online training products, designed to meet the needs of busy professionals. One-day, face to face training products are held at either the Melbourne or Sydney offices, and focus on providing essential and specialised skills to professionals, as well as introductory knowledge on various operational aspects of a business. Webinars run for approximately two hours, and designed to ensure the professional stays current and informed on trends and emerging practices in their profession. ABMN currently positions its training products for two distinct markets: Professionals Professionals (including salaried workers working in small, medium and large corporations, as well as contractors and consultants) working in HR, Marketing or QA Management who upgrade their skills regularly to stay informed and current about new and emerging principles and practices in their profession. Small business owners Small business owners and managers that want to understand the fundamentals of HR, Marketing and QA Management so they can manage these functions in their small business. Training products are closely aligned with the needs of employers and industry, and ABMN conducts regular surveys with various employers to ensure we are providing the right skills to meet the training and development needs organisations. Consultancy Services ABMN recognises that industry and employer needs are constantly changing. Given this evolving business environment, ABMN acknowledges that its member and customers may require ad-hoc support and advice. ABMN’s consultancy services are designed to provide members with ongoing advice and support as needed, specifically in the areas of: HR Management Marketing Quality Auditing Small Business. HR Management ABMN provides advice, support and consulting on a range of HR/Management functions, including: Recruitment and Induction Page 5 of 15 Australian Business and Management Network Marketing Plan DRAFT Workforce planning Remuneration and staff retention Separation and termination 360 profiling. Marketing Our Marketing Team uses their extensive knowledge and experience to assist members to expand their customer base, focus on their target markets and ultimately to achieve a greater return through tried and tested marketing activities. ABMN can assist marketing professionals to: Undertake segmentation to identify their target market Conduct focused market research Develop marketing plans Undertake marketing audits. Quality Auditing The QA team provides exceptional auditing assistance and advice to support the needs of its members working within a QA framework. ABMN’s certified quality auditors can assist with: Internal Audit planning Assurance mapping Developing QA performance measures Implementing a Total Quality Management (TQM) system ISO 9001 Compliance. Small Business Advisory Service Micro and small business represents the majority of businesses in Australia. ABMN provides a range of specialist knowledge and advice for those working as sole traders and small business, including: Business planning Marketing and sales Bookkeeping and financial management Recruiting and managing staff Website and promotions Legal. Page 6 of 15 Australian Business and Management Network Marketing Plan DRAFT Pricing Structure Service Non-Members Membership Individual Corporate (11+) $300 per year $3000 per year Training Products: $500 Per Day 2 free courses per year 20 free courses per year Courses $80 per webinar Library Unlimited access to Library and Resources Unlimited access to Library and Resources Resources 10% training discount 10% training discount Webinars Free webinars Free webinars $250 per hour 1 free consultation (up to 2 hours) then $200 per hour 5 free consultations (up to 8 hours) then $200 per hour Dependent on the event Free award night 5 conference delegates free award night and annual conference Blogs Consulting Services: HR Management Marketing Quality Auditing Small Business Events and Conferences: Event discounts Breakfasts Event discounts Conferences Seminars Awards night News: On request Monthly Newsletter Weekly e-Bulletin Weekly e-Bulletin Electronic + 1 printed copy (upon request) Electronic + 5 printed copies (upon request) Weekly e-Bulletin Weekly e-Bulletin (extra upon request) Page 7 of 15 Australian Business and Management Network Marketing Plan DRAFT Our customers [Is this still relevant? Need to review for 2015] The current customer base consists mainly of individual members, typically made up of professionals and managers working in various industries, as well as corporate members concentrated in larger corporations, who have head offices located in the major cities. Our competitors [Is this still relevant? Need to review for 2015] ABMN is a relatively new player in the market, where some competitors have been operating for over 70 years and have therefore established a presence and a high recognition profile. The main competitor in the business services membership space is the Australian Institute of Management (AIM). AIM is recognised within the Australian business community as the leader in the business services market. There are several other smaller competitors, offering specialised services and advice. Some operating from outside of Australia, and slowly making inroads into the Australian market. Competitor Market share (%) Value to customers Australian Institute of Management (AIM) (www.aim.com.au) 58% Cheap rates for all AIM courses, qualifications, events, consulting and research services The Institute of Internal Auditors (www.iia.org.au) 63% Specialist training, advice and support in QA and ISO 9001 compliance Professionals Australia 18% Discouted provision of financial planning, marketing updates, member advantage (www.professionalsaustralia.org.au) programs Australian Human Resources Institute (www.ahri.com.au) 82% Specialised human resources training, conferences and networking Australian Marketing Institute 79% Speacialised markerting training and events (www.ami.org.au) Page 8 of 15 Australian Business and Management Network Marketing Plan DRAFT Environmental/industry analysis [Is this still relevant? Need to review for 2015] Market research performed on our behalf for 2013/14 by DBB Marketing detailed that the business market has experienced a re-bound in growth during the year, following a slump in 2011/12 when global activity was subdued. However, corporations are experiencing a more discerning consumer, who is using their discrctionary spending to reward organisations that are demonstrating triple bottom line strategies. The triple bottom line requires organisations to be economically profitable, deliver products and services in an environmentally sustainable way and to place emphasis on contributing socially to the community from where the organisation derives its profits. A more sophisticated social media is driving a commitment from organisations to demonstrate social, environmental and economic responsibility. As a consequence ABMN needs to now direct its approach to the market in this new context, while still maintaining the cost constraints and growth strategies that are already tasked in the business. The rewards for positioning the business in this market context will be significant over slower moving competitors who are hamstrung with an old, less flexible and more resource intensive model. Thisa model will also act as a notable product differentiator for the push into the international market, where these pressures are beginning to come into play. The Market Total market The total market consists of Australian businesses and professionals. There are currently over 2 million companies operating in Australia, including government entities. ABMN’s current active memberships is almost 850,000, consisting of individuals (professionals) and businesses (Australian). This figure represents approximately 40% of market share in our industry sector. Target markets [Awaiting data] Market position [Awaiting data] Unique selling position ABMN is the only business service that offers specialised advice and support to industry professionals in the areas of HR, Marketing , Quality Auditing and small business. ABMN is also the only business service that offers its services in an online environment, in addition to face-to-face and phone support. This includes consultation and training, as well as resources. This has the following benefits for clients: Ready access to services Convenience for the client Access to most services 24/7 ABMN is a competitive player in the business services industry, filling around 22% of the served market space. We maintain competitive advantage through the following features: Page 9 of 15 Australian Business and Management Network Marketing Plan DRAFT ‘One-stop shop’, offering a range of specialised business services Focus on specialised functions and operations within the business, (HR, marketing, etc.) regardless of business type or size Set apart from competitors that specialise in only one area of business (management or marketing or human resources) Ideal for micro- and small business owners who require specialised knowledge and advice on occasion, and not willing or ready to hire permanent employees to manage these specialised areas of the business. Marketing mix [Awaiting data] Anticipated demand [Awaiting data] Page 10 of 15 Australian Business and Management Network Marketing Plan DRAFT Marketing strategy As electronic advertising and marketing presents a lower cost to ABMN over traditional forms of marketing, and has shown to product a higher return, ABMN will focus much of its marketing activities on relevant online and social media platforms, as well as attracting visitors to the website. ABMN will continue to expand their social media presence and increase consumer awareness through non-direct marketing and promotional activities. ABMN will also use social media to collect data that will enable ABMN to gain a greater insight and understanding into our customers’ needs, interests and wants. Marketing objectives The following marketing objectives have been developed for the next 12 months, based on ABMN’s Strategic Plan and SWOT analysis: 1. Increase active corporate membership by 10% annually. 2. Increase active individual membership by 10% annually. 3. Build on relationships with active members, by completing 20 in-depth customer surveys/month among ABMN’s top 500 members. 4. Increase market share for each our of products to 50% within 12 months. 5. Identify new membership types based on market research within 3 months. 6. To expand into international markets by signing at least 2 new partnership contracts with overseas affiliates within 12 months. 7. Identify and add 1 new/improved product/service within 6 months. Page 11 of 15 Australian Business and Management Network Marketing Plan DRAFT ABMN Marketing budget Page 12 of 15 Australian Business and Management Network Marketing Plan DRAFT Media strategy 2015 [To update for 2015] Page 13 of 15 Australian Business and Management Network Marketing Plan DRAFT Appendix 1 – Marketing Results 2014 Marketing Activity Cost Expected Outcome Actual Outcome Annual Conference $12,000 Raise awareness of product and service offerings 7% increase in use of products and services in 3 months following conference Held in Sydney 400 attendees Business breakfasts 6 in total Held in Sydney, Melbourne, Brisbane Available to non-members at a cost Seminars focusing on consulting services such as HR, Marketing and Small Business 1 per month Held in Melbourne and Sydney x3 each, Brisbane x2, NT, WA, Tasmania and SA x1 each Free webinar (promotional costs only) Increase in products and services utilised by members $1,000 per breakfast (relies on paying attendees to make it cost effective) Increase in new members $1,500 per seminar (relies on paying attendees to make it cost effective) Raise awareness of consulting services offered Improved networking among members Increase in use of consulting services Increase in new members 2% increase in individual memberships as a direct result of attendance at the business breakfasts Awareness of consulting services offered increase by 12% according to member survey No noticeable increase in use of consulting services following seminars 2% increase in corporate memberships following the seminars in Melbourne and Sydney $150 per webinar Increase in new members Increase in participation in future webinars 4% increase in membership sales following webinar No noticeable increase in future participation in webinars Page 14 of 15 Australian Business and Management Network Marketing Plan DRAFT Marketing Activity Cost Expected Outcome Actual Outcome Promotional mail out (1 per quarter) $1,250 (postage) Increase in new members Average of 8% increase in individual memberships per quarter Increase in new members 1% increase in membership sales following training Non-member promotions Targetting approx. 2,5000 nonmembers Free training (promotional costs only) Need attendance of at least 4 nonmembers to cover running costs $1,250 (printing) $150 per training session Membership discount for new members (promotional costs only using print and online advertising) $500 Attendance at Small Business Convention $500 per convention Increase in participation in future training Increase in new members 5% increase in corporate memberships 2% increase in individual memberships Increase in new members Raised awareness of ABMN and our prodcuts and services Advertising in professional publications (Business Weekly) or newspapers (The Age) 4% increase in participation in future training programs $250 per month Increase in new members No noticeable increase in new memberships Increaseed awareness of ABMN products and services 7% increase in corporate members Page 15 of 15