Transcript Smart Marketing Strategies for Tough Times

Smart Marketing Strategies
for Tough Times
ABOUT NCCG
• Since 1867
• NCCG – The Tribune, Greeley Now/La Tribuna,
Fort Collins Now, Windsor Now, The Fence Post,
Tri-State Livestock News, Farmer & Rancher
Exchange. All associated websites.
• Owned by Swift Communications
–
Family-owned based in Reno
• Mission – Great People Connecting
Communities.
TOUGH TIMES – RIGHT?
TOUGH TIMES – RIGHT?
TOUGH TIMES – RIGHT?
WHAT IS MARKETING?
• Marketing is the process through which
you create – and keep – customers.
• It’s the matchmaker between what your
business is selling and what your
customers are buying.
• It’s not about talking to your customers,
it’s about talking with them?
TIME TO CUT MARKETING?
• When things get tough economically for a
business, what’s the first thing to go?
• What about Target, AFW and Aims?
• What do we need more of in tough times?
• What was the definition of marketing?
• Why would you cut that part of your
business plan?
• What would your banker say?
TODAY’S TAKEAWAYS
• What’s ahead for Small Businesses in
2009?
• What is Marketing?
• Customers – know them, love them and
find more of them.
• The 5 Step Marketing Plan
• Shine Jewelers Example
• What’s your next step?
What’s ahead for small
businesses for 2009?
2009 Small Business Marketing Outlook
Ad-ology Research/Sales Development Services, Inc.
October 2008
WHAT’S AHEAD FOR 2009?
• Look Ahead?
WHAT’S AHEAD FOR 2009?
• The economy?
WHAT’S AHEAD FOR 2009?
• Growth in a tough economy?
WHAT’S AHEAD FOR 2009?
• Best way to market?
WHAT’S AHEAD FOR 2009?
• Online marketing?
WHAT’S AHEAD FOR 2009?
• Spend more than $1,000 on
marketing?
WHAT’S AHEAD FOR 2009?
• Spend more or less in 2009?
WHAT’S AHEAD FOR 2009?
• Why not invest in marketing?
WHAT’S AHEAD FOR 2009?
• What determined how much to
spend on marketing?
WHAT’S AHEAD FOR 2009?
• What influences what media you
use in your marketing?
WHAT’S AHEAD FOR 2009?
• Why advertise?
WHAT’S AHEAD FOR 2009?
• What media will you use?
WHAT’S AHEAD FOR 2009?
• How effective are the media?
WHAT’S AHEAD FOR 2009?
• Marketing beliefs?
What do you believe marketing
can do for your business?
Marketing – the whole is greater than the parts!
The Marketing Process
MARKETING BASICS
Customer,
Product and
Competitive
Research
Product
Development
Customer
Service
Pricing
Marketing
Wheel of
Fortune
Sales
Packaging
Advertising,
Promotion
and PR
Distribution
SMART MARKETING TIPS
• Get to know your target customer and your
marketing environment.
• Tailor your product, pricing, packaging and
distribution strategies to address your customers’
needs, your market environment, and the
competitive realities of your business.
• Create and project marketing messages to grab
attention, inspire interest, and move your
prospects to buying decisions.
• Go for and close the sale – but don’t stop there.
SMART MARKETING TIPS
• Once the sale is made, begin the customer
service phase. Work to ensure customer
satisfaction so that you convert the initial sale
into repeat business and word-of-mouth
advertising for your business.
• Talk with customers to gain input about their
wants and needs and your products and
services. Combine what you learn with other
research about your market and competitive
environment and use your findings to fine-tune
your product, pricing, packaging, distribution
promotional messages, sales and service.
SMART MARKETING TIPS
• Once the sale is made, begin the customer
service phase. Work to ensure customer
satisfaction so that you convert the initial sale
into repeat business and word-of-mouth
advertising for your business.
• Talk with customers to gain input about their
wants and needs and your products and
services. Combine what you learn with other
research about your market and competitive
environment and use your findings to fine-tune
your product, pricing, packaging, distribution
promotional messages, sales and service.
THE CIRCUS EXAMPLE
• Advertising. Marketing. Sales. Promotions.
What are the differences?
– If the circus is coming to town and you paint a
sign saying “Circus Coming to the Fairground
Saturday,” that’s advertising.
– If you put the sign on the back of an elephant
and walk it into town, that’s promotion.
– If the elephant walks through the mayor’s
flowerbed, that’s publicity.
– And if you get the mayor to laugh about it,
that’s public relations.
THE CIRCUS EXAMPLE
– If, before painting the sign that says “Circus
Coming to the Fairground Saturday,” you check
community calendar to see whether conflicting
events are scheduled, study who typically
attends the circus, and figure out how much
they’re willing to pay and what kinds of
services and activities they prefer, that’s
market research.
– If you invent elephant ears for people to eat
while they’re waiting for elephant rides, that’s
product development.
THE CIRCUS EXAMPLE
– If you create an offer that combines a circus
ticket, an elephant ear, an elephant ride, and a
memory-book elephant photo, that’s
packaging.
– If you get a restaurant name Elephants to sell
your elephant package, that’s distribution.
– If you ask everyone who took an elephant ride
to participate in a survey, that’s customer
research.
THE CIRCUS EXAMPLE
– If you follow-up by sending each survey
participant a thank-you note along with a twofor-one coupon for next year’s circus, that’s
customer service.
– And if you use the survey responses to
develop new products, revise pricing, and
enhance distribution, then you’ve started the
marketing process all over again.
All about Customers.
Know your customers – love them, find more of them!
Your Customer Profile
ALL ABOUT CUSTOMERS
• Every marketer mulls the same questions:
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Who are my customers?
How did they hear about me?
Why do they buy from me?
How can I reach more people like them?
• Remember, business owners don’t work
for themselves, they work for their
customers.
ALL ABOUT CUSTOMERS
• Anatomy of a Customer
– Geographics – where they come from.
– Demographics – age, gender, education,
income, etc.
– Psychographics – segmenting by lifestyles,
purchasing behaviors, beliefs about
themselves, families and society
– Geodemographics – a combo of all three of
the above – lifestyle marketing.
ALL ABOUT CUSTOMERS
• Collect data on your customers
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Checks, Credit Cards, Letters, Zip Code Data
Surveys
Observation
Contests
Track response to your ads
Web reports
Focus Groups
ALL ABOUT CUSTOMERS
• Ask NCCG to help!
• NCCG’s Consumer Database
• Customer Profile Tool
– What is it?
– How does it work?
– What does it tell you?
ALL ABOUT CUSTOMERS
• How the NCCG Customer Profile Tool Works
– Excel or Access Database
– Provided to MSG (3rd Party)
– MSG matches records and then overlays demographic
data we know about each record.
• NCCG Advertiser in Windsor Example
– 600 records on database provided from customer
– 76% match rate – 412 records.
ALL ABOUT CUSTOMERS
ALL ABOUT CUSTOMERS
•
The majority (52%) of your customers fall within the 45-64 age
range. 35-44 is a key secondary audience.
Windsor Advertiser Customers - Age
30%
25%
25%
27%
22%
20%
13%
15%
10%
5%
7%
4%
0%
0%
18 - 24
25 - 34
Source: 2009 MSG Customer Profile
35 - 44
45 - 54
55 - 64
65 - 74
75+
ALL ABOUT CUSTOMERS
•
9 out of 10 or your customers own their own homes.
Windsor Advertiser Customers - Home Ownership
100%
87%
80%
60%
40%
20%
9%
2%
0%
1%
Definite Renter
Probable Renter
Probable Owner
0%
Unknown
Source: 2009 MSG Customer Profile
Definite Owner
ALL ABOUT CUSTOMERS
•
Over 60% of your customer base is married.
Windsor Advertiser Custom ers - Marital Status
Single
Married
Source: 2009 MSG Customer Profile
ALL ABOUT CUSTOMERS
•
About 25% of your customers have at least one child at home.
Windsor Advertiser Customers - Presence of Children
14%
12%
10%
8%
6%
6%
4%
2%
2%
2%
1%
0%
1 Child
2 Children
Source: 2009 MSG Customer Profile
3 Children
4 Children
5 Children
ALL ABOUT CUSTOMERS
•
Your customer base is largely mid to upper income with nearly
42% making over $100,000 annually.
Windsor Advertiser Customers - Income
25%
23%
19%
20%
16%
17%
15%
10%
7%
6%
4%
5%
1%
0%
Under
$15,000
$15,000 $19,999
2%
2%
1%
0%
0%
$20,000 $29,999
$30,000 $39,999
$40,000 $49,999
$50,000 $74,999
Source: 2009 MSG Customer Profile
$75,000 $99,999
$100,000 $124,999
$125,000 $149,999
$150,000 $174,999
$175,000 $199,999
$200,000 $249,999
$250,000 +
ALL ABOUT CUSTOMERS
•
You have a good mix of both newcomers and long-term residents
as customers, but those living here seven years or less command
the biggest segment.
Windsor Advertiser Customers - Length of Residence
10%
9%
9%
8%
9%
7%
6%
7%
7%
6%
5%
4%
5%
4%
4%
4%
2%
2%
3%
4%
3%
3%
2%
2%
0%
0-6
Months
7 - 12
Months
13 - 18
Months
19 - 24
Months
3 Years
4 Years
5 Years
6 Years
Source: 2009 MSG Customer Profile
7 Years
8 Years
9 Years 10 Years 11 Year 12 Years 13 Years 14 Years 15 Years 18 Years
20 or
More
Years
ALL ABOUT CUSTOMERS
•
Your customers’ primary lifestyle groups tend to be more
mature, but again you have a strong secondary group that you
serve that are younger with children still at home.
Windsor Advertiser Customers - Lifestyle Group
25%
22%
20%
19%
16%
15%
11%
10%
9%
5%
4%
4%
2%
2%
1%
1%
1%
2%
0%
C - Chic
Society
D - Diamondsto-go
H - Home
Hoppers
I - IRA
Spenders
J - Just Sailing
Along
K - Kiddie
Kastles
Source: 2009 MSG Customer Profile
L - Loose
Change
M - Midlife
Munchkins
N - Nice &
Easy
Grandparents
O - Oodles of
Offspring
Q - Quiet
Homebodies
S - Still Going
Strong
Y - Young-atHeart
ALL ABOUT CUSTOMERS
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Mid-Life Munchkins
– Average HHI - $71,000
– Average Age of Head – 55
– Demo Profile - Children or grandchildren present, homeowners,
white collar, high education, mail responsive
– Interests - Pets, business travel, home furnishings, collectibles,
investing, charities, camping, multiple credit cards
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IRA Spenders
– Average HHI - $91,000
– Average Age of Head – 67
– Demo Profile - No children living at home, retired, home owners,
long length of residence, mail responsive
– Interests - Home furnishings, audio equipment, art, antiques,
golf, gardening, casino gambling, multiple credit cards
ALL ABOUT CUSTOMERS
•
Kiddie Kastles
– Average HHI - $73,000
– Average Age of Head – 43
– Demo Profile - Homeowners, children in household, white collar,
college graduates, mail responsive
– Interests - Computers, video cameras, kids items, fitness,
outdoor activities, automotive work, multiple credit cards
•
Diamonds to Go
– Average HHI - $123,000
– Average Age of Head – 48
– Demo Profile - Home owners, high home values, kids, white
collar, mail responsive
– Interests - Home furnishings, stocks, computers, gourmet
cooking, gardening, travel, multiple credit cards
ALL ABOUT CUSTOMERS
• Opportunity
– Primary customers are women, 45-64, HHI of
$100,000 or more with a mix of long and short
term residence in NoCo.
– Secondary customers are women, 25-34, with
HHI of $50,000 to $75,000 with kids at home.
– We know there are 600 of these customers
who shop your store.
– Are there more out there and how do we find
them?
OPPORTUNITY
• Opportunity
– Record Counts in Windsor
• IRAs and Mid-Life – 1,576
• Kiddies and Diamonds – 2,076
– Let’s put a plan together for ’09 to acquire
these new customers.
ALL ABOUT CUSTOMERS
• Use the data you collect to develop your
marketing plan.
– What media are good matches for these primary and
secondary customer targets?
– What partnerships or events could you partner with to
reach more of your customers?
– Knowing what the customers’ interests are and what
they spend their money on, what other marketing
opportunities are out there?
ALL ABOUT CUSTOMERS
• Aren’t you glad you came today?
– As a bonus for your attendance today, your
business/organization will receive a NCCG Customer
Profile – for FREE! A $500 value.
– Complete the request at the end of the workshop!
The Marketing Plan
It’s not just a piece of paper.
Five easy steps to make a difference in your business.
THE MARKETING PLAN
• Marketing Plans are not just for the big
guys.
• Not something that’s bound and put on a
shelf for all to see and cherish forever!
• A good, solid marketing plan can be done
on one sheet of paper – maybe two – if
you have to.
THE MARKETING PLAN
• Five Easy Steps
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State your business purpose.
Define your market situation.
Set goals and objectives
Outline your strategies, then your tactics.
Establish your budget
• Blueprint your plan – and use it!
• The One-page Marketing Plan
THE MARKETING PLAN
THE MARKETING PLAN
• What media to use?
– PRINT – newspapers, magazines, directories, direct
mail
– BROADCAST – television (network and cable), radio
– OUT-OF-HOME – transit, billboards, murals, signage
– SPECIALTY – logo merchandise, schwag
– DIGITAL – Internet, e-mail, interactive, websites
• Advantages and Drawbacks
Shine Jewelers
Sample Marketing Plan
This example will show you how it all fits together.
SHINE JEWELERS
SHINE JEWELERS
• 2nd Quarter Marketing Plan
– NCCG is proposing is a special event called “Queen’s
Dream” in which consumers will be able to enter a contest
sponsored by Shine Jewelers that will award the winner a
diamond heart necklace from Shine valued at $1,200, 6
months worth of house cleaning provided The Maids, A spa
day from Ambrosia Day Spa and $500 Gift Certificate from
Harvest Restaurant.
– Consumers will have to go to
www.shinejewelers.com/queensdream to enter to win, or they
can also stop by their store location at St. Michaels Town
Square at Hwy 34 and 65th avenue.
– The contest begins on Saturday April 11 and all entries are
due by Friday, May 8, 2009. Winner will be awarded the
Queen’s Dream Prize Package on Saturday, May 9, the day
before Mother’s Day. One entry per day per customer.
SHINE JEWELERS
• 2nd Quarter Marketing Tactics
– Target Audience – adults age 25-44 with kids and
household incomes of $75,000+
– Secondary Audience – women 55+
– Media – Radio, Newspaper, Direct Mail, Online
SHINE JEWELERS
Splash Page
SHINE JEWELERS
Postcard
SHINE JEWELERS
Newspaper
SHINE JEWELERS
• :60 Radio
– Doesn’t mom deserve more than just to be Queen for a Day
on Mothers’ Day? If you agree, then you need to check out
Queens’ Dream presented by Shine Jewelers in Greeley.
Shine Jewelers has put together the “mother” of all prizes
packages just for mom including six months worth of house
cleaning from The Maids, a spa day from Ambrosia Day Spa,
a $500 gift card from Harvest and a $1,200 diamond heart
necklace, specially crafted and selected from Shine Jewelers
exclusive and expansive custom collection. To enter, just
click on shinejewelers.com/queensdream. You can enter
every day online or just stop by our showroom at St.
Michael’s Square, Hwy 34 and 65th avenue in Greeley.
Doesn’t your mom deserve the Queen’s Dream prize
package? Sign up today at shinejewelers.com/queensdream!
SHINE JEWELERS
• Does this program stick to the Marketing
Plan?
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Existing Customers?
New Customers?
Name Awareness?
Promote value, selection and service?
Product – sales floor?
Distribution – Partnerships with other businesses?
Pricing – Value Item and financing?
Promotion – special event, complete plan, database?
YOUR NEXT STEPS?
• What will you do during these ‘tough
times?’ What would your banker say?
• How will you ‘know’ your customers better
so you can attract more of them?
• Will you implement a marketing plan and
not let it set on the shelf?
– 90 Day Plan
– 6-month Plan
– 12-month Plan
• Count on NCCG to help!
YOUR NEXT STEPS?
• Contact Information
David Thiemann, Director of Marketing
NCCG
423 Main Street
Windsor, CO 80550
970.392.4430
[email protected]