Transcript Marketing Essentials 2.0 - Paul Merage School of Business

Marketing Essentials 2.0
How to be a successful
marketer
By
Tom Patty
[email protected]
The Big Five
Marketing Basics
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TARGET (it all starts here)
Benefit
Value
Process
Growth
A process, not a la carte
“Ready, aim, fire”
Target
The less money, the more targeted
The power of the few (20/80 rule)
Goal: the highest return on investment
Two questions:
What do they do?
What do they value?
Benefit
Volvo
Target
Benefit
Ferrari
Value
Value = Benefits divided by cost
Only relevant to target
Increase benefits/do not reduce cost
Marketing Purchase Process
Funnel
Awareness (100%)
Consider (40%)
Shop (30%)
Intend (20%)
Buy (10%)
Love (5%)
(It’s all about conversion)
“Where are your strengths,weaknesses?
Marketing in 3 easy steps
1. The right person
2. The right message
3. The right time
Marketing Tools
(What job needs to be done?)
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Advertising
Collateral
Old
Broadcast
Print
Outdoor
Mail
Brochures
New
Internet
(Google)
Website
Marketing Tools (con’t)
Publicity
Promotion
Old
New
Press release “story”
blogs
newsletter
social media
“sale”
add value
Grow Your Business
1. Get more customers
2. Get more money from customers
(What are you going to do that has value
to customers?)
How to Grow Your Business
(Most bang for buck)
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2.
3.
4.
5.
New Products or Services
New Distribution
New Promotion
New Packaging
New Value
(What is your plan?)
Resources
SCORE seminars, workshops, counseling
ecorner.stanford.edu/ (videos)
PaulGraham.com (essays)
TED.com (videos)
Summary
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The Big Five (Targeting)
Purchase Funnel (Conversion)
Marketing Tools (Right tool for job)
How to Grow (Most bang for $)