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The Evolution of Marketing Strategies for Today's Small Business Presented By Brian J. Wilhelm Marketing Specialist The Wilhelm Group Marketing & Business Solutions 704-323-6682 [email protected]

The Evolution of Marketing

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A short history of marketing, coupled with strategies and techniques for today’s small business. Brought to you by www.wilhelmgroupmarketing.com

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  • 1. Presented By Brian J. WilhelmMarketing SpecialistThe Wilhelm Group Marketing & Business Solutions 704-323-6682 [email protected]

2. 1. Raise your prices.2. Sell more to your customers.3. Create new customers.As raising your prices may actually diminish your return, we look to marketing to help you improve your business 3. Communicating your message Brand recognition Establish or reinforce your image Stay front of mind with your targetmarket Attract new customers 4. Methods of the Past Newspaper Flyers Yellow pages Bandit Signs Cold Call Sales Radio/Television Telemarketing Interpersonal Business Reply Mail Networking 5. They worked and some still do tosome degree(Networking, Targeted TV/Radio, Direct Mail) Reinforced brand awareness They were the options available at thetime Reached a large audience 6. Expensive (average cost per lead $322) Inefficient (not targeted) Time Consuming Shotgun Approach Did not take into account the needs of theconsumer Difficult to measure ROI on multiplecampaigns 7. The internet paved the way for newand innovative marketing techniques. Opportunities open for companiesready to adapt 8. Search Engine Marketing Social Marketing Mobile Marketing Direct Mail Group Buying Email MarketingAlone, each of these methods procureslead returns of up to 5%-Avg. lead cost$77 9. A good lead management system willallow you to maximize your ROI(return on investment) 10. Search Engine Optimization (SEO) is the process of positioningyour website to rank highly on search results pages for themost relevant keyword searches. SEO has the best long-termreturn on investment because once your site ranks forimportant keywords you do not pay for each additional visitorto your site. Local Search Marketing maximizes your exposure in localdirectories and online map sites including GooglePlaces, Yahoo Local, Bing Local, Yelp and more. Many of thesesites are also emerging as the primary source of local businessinformation on mobile devices. In fact, iPhone and Android appphones are pre-loaded with Google Maps, which pulls localbusiness information from Google Places. Pay-Per-Click Advertising places an ad for your businessdirectly in front of the people that are actively searching onlinefor your products and services. 11. Over the last few years, social has exploded. In theUS, social networks and blogs reach over 80% ofinternet users. In terms of time spent, Americansspend the majority of their time online utilizingsocial. They use it to get recommendations onproducts, provide testimonials of their ownexperience, and evangelize brands they absolutelylove. Social is inexpensive to use in terms ofdollars, and allows businesses to reach a very largeaudience. 12. 4/5 internet users visit social networks & blogs - dominatingtime spent online 70% of all adult social networkers shop online 53% follow a brand and are more likely to refer to a friend orfamily member Build stronger relationships w/ existing customersSocial is better used for nurturing than prospecting Streamline your efficiency by posting to multiple accounts atthe same time Share content that is interesting to your audience - coolfacts, quotes, stories, testimonials Follow, Friend, Like your customers and clients Track Analytics 13. Mobile marketing utilizesapplications and strategies tomaximize the reach of your messageon mobile devices such as smartphones and tablets QR codes, Pay Per Click, and MapsListings. Over 90% of cell phones are nowsmart phones. 14. Many businesses have avoided directmail because of the cost associated witha $.45 stamp. Every Door Direct Mail, anew program offered through the USPostal Service allows you to reduce yourpostage cost to $.145. Now everybusiness can affordably take advantageof this great marketing opportunity. Infact, now you can have your piecedesigned, printed, and mailed for thecost of that original stamp. 15. Average National ROI $12 for every$1 spent Reach up to 5,000 residences andbusinesses segmented by postalroute Mail pieces can be designed to standout among other mail itemsincreasing read rate. 16. Offering of online vouchers for discounts onyour products and/or services Many small businesses are having greatsuccess using services like Groupon andLiving Social. Group buying offers an opportunity to easilyattract new clients. The businesses who are having the mostsuccess are up-selling voucher customersancillary products or packages 17. Email is the most cost effective formof online marketing. In fact, thenational average rate of return foremail marketing is $77 for every $1spent. The hardest part of emailmarketing is building a goodlist. Lists can be built in a variety ofways, but you need to be careful thatyour contact list is relatively accurate 18. 10-20% of leads are orphaned within twotouches Email is best for nurturing and remindingcustomers and prospects about your productor service Recapture 30% of lost sales with an autoresponder series Cross sell products and services to existingcustomersGenerate referrals from existing customers 19. When implementing multiplemarketing channels strategically,lead procurement can be as high as20% 20. Design a compelling 6.5x12 postcard offering a greatincentive. In order to receive the offer, the prospect will have tovisit a landing page and complete the online order formwith their contact information. The landing page should provide content relevant toyour offer, as well as, benefits of ancillary products andservices you provide. Now that you have their contact information, you canput them on an email marketing nurture campaignpreloaded with 12 months of information about yourproduct or service. 21. Businesses rely heavily on group buying discount services. Theyalso take a one and done approach. Run a special incentive in order to generate as many buyers as youcan. Remember, as these vouchers are redeemed, youre notmaking anything additional than your original 25%. Be sure to up-sell and offer ancillary products and services to make offering theupfront discount monetarily beneficial. Get as much of the customers contact information as possible.Most group buying services will not provide you with thisinformation. As your database grows, during times of necessarycash flow , you will be able to bypass the group buying services,offer the same discount, and double your money. Place you contacts on an email marketing campaign tailored toprovide additional information relative to your business anddiscounts in return for referrals. 22. Depending on your industry , gaining position onGoogle and Bing can take months, and is expensive. Aless expensive route is Local SEO. Pay per click onlycharges you for results. When a PPC or Local Maps prospect contacts youchances are they are looking for more information. Even if you are able to get them in for a consultation itdoesnt always mean that they are ready to buy yourproduct/service. Prepare them for your meeting byproviding them with the knowledge to help them makea mutually favorable decision. Friend them on Facebook and follow them on Twitter tobegin forging a relationship 23. Even the best of us will not close every sale. Justbecause a customer does not purchase from us doesnot mean that they are buying from our competition. Dont burn a relationship with a customer by beingoverly pushy. Instead, place them on an automatedbehavioral email marketing campaign preloaded withthe information that they need to help them make amutually beneficial decision. Friend them on Facebook and follow them on twitter inorder to solidify a deeper relationship Studies show that this strategy can help you regain 30-40% of your lost sales. 24. The Evolution of Marketing Strategies for Todays Small Business