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Join Intellecap's marketing training for businesses within the CoP. Equip yourself with marketing tools to enhance your business. Discover marketing strategies to boost your business acumen. Learn from industry pioneers with a wealth of expertise and a strong reputation.
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Marketplace for Nutritious FoodsMarketing training for Businesses within the CoP Welcome deck • 22nd November- 24th November Author : Intellecap
Who are We? 1 a Pioneer 2 Intellecap is a pioneer in providing innovative business solutions that help build and scale profitable and sustainable enterprises dedicated to social and environmental change. Wealth of Expertise Our unique positioning at the intersection of social and commercial business sectors allows us to attract and nurture intellectual capital that combines the business training of the commercial world with the passion and commitment of the social world to shape distinctive solutions. 3 Strong Reputation Founded in 2002, Intellecap has grown into a Group with more than 900 employees and 300 engagements across 25 countries.
The Facilitators Arielle Molino Martin Kiilu Mercy Atiang’ Joshua Haro
We are animals! Bull Wild Dog Eagle Hyena
Goals of the Workshop Equip you with marketing tools for use in your business Equip you with a full understanding of marketing as an integral function of your business To provide actionable marketing strategies to further enhance your business acumen 1 2 3
Activity The Parking Lot
Activity Setting Ground Rules, Goals and Expectations
Marketplace for Nutritious FoodsMarketing training for Businesses within the CoP 2. Organization Vision November 2018 Author : Intellecap
Vision vs Mission Mission Mission statement describes the current state of an organization and its primary goals or objectives. It provides detailed information about what the organization does, how it does it, and who it does it for. Unlike the vision statement, it is short-term in nature. Vision Vision statement describes the future state of the organization, i.e., what the organization hopes to become in the future. It also communicates the purpose of the organization to the employees and other stakeholders and provides them with the inspiration to achieve that purpose.
Their Importance Defines the purpose of the organization and instill a sense of belonging and identity to the employees. Provides the direction that is to be followed by the organization while the vision statement provides the goal or the destination) to be reached by following this direction. Aligns the resources of an organization towards achieving a common objective Supports Decision Making, ensuring that decisions made are aligned with what the organization hopes to achieve. The vision and mission statements provide a for increase efficiency and productivity as everyone is working towards a single purpose.
Activity Share your Vision & Mission Statement
Setting your Mission Statement What’s your purpose and values? Who is your customer? • Your mission statement should be concise capturing your goals, purpose and your "why." What’s your relationship with employees? Mission Statement Why are you better than the competition? What does success look like to you?
Vision Statement Project 5-10 years in the future. Dream big and focus on success Use the present tense Infuse it with passion and emotion Align it with your business values and goals Have a plan to communicate your vision statement to your employees
Vision Statement: continued Simple Short Clear Aligned Ambitious Specific 2 1 Simple enough for people both inside and outside your organization to understand. No technical jargon, no metaphors, and no business buzz-words if at all possible! Two sentences at an absolute maximum. It’s fine to expand on your vision statement with more detail, but you need a version that is punchy and easily memorable. Do not use words that are open to interpretation. Aligned to the Values that you want your people to exhibit as they perform their work. Specific to your business and describe a unique outcome that only you can provide. Ambitious enough to be exciting but not too ambitious that it seems unachievable. 3 4 5 6
Activity Refine your Mission & Vision Statements
Activity Incorporate Mission & Vision into Implementation plan
Marketplace for Nutritious FoodsMarketing training for Businesses within the CoP 3. Introduction to marketing November 2018 Author : Intellecap
Definition of marketing Components of a business Marketing Human Resources Strategy Finance Accounting • MARKETING • One of the major components of the fundamentals of business management. It is defined as the promotion of business products or services with the customer as the focus. • Some of the marketing concepts include: Segmentation, targeting, differentiation and positioning Business Operations
Definition of marketing: Key marketing concepts Marketing & Implementation plan Where’s the market Product Who’s your customer The how in marketing People Promotion Pricing Place - Delivering the product
Activity Any experts in the room? Sales vs Marketing
Sales Vs Marketing 01 Sales requires a push strategy whereas marketing requires a pull strategy 02 Both sales and marketing team could sometimes be managed by the same team 03 Marketing is usually long term compared to sales which is short term
Marketplace for Nutritious FoodsMarketing training for Businesses within the CoP 4. Setting your Marketing Objective Author : Intellecap November 2018
Why Set Objectives? • Marketing objectives set out what a business wants to achieve from its marketing activities. • A good plan is governed by the marketing objectives the company wants to achieve. However it is important to set effective objectives. 01 Ensure functional activities consistent with corporate objectives. 02 The importance of setting effective marketing objectives include: Provide a focus for marketing decision-making and effort. 03 Provide incentives for marketing team and a measure of success / failure. 04 Establish priorities for marketing resources and effort.
5S’s Objectives Video: SOSTAC, How to write the perfect plan
Setting marketing Plan: 5S’s methodology • Marketing objectives should be based on your business’s strength & weakness. Customer acquisition & retention targets Sales Save Quantified efficiency gains Customer satisfaction targets Service Speak Customer Engagement Sizzle Value addition
Setting marketing objectives Types 01 04 Increase market share • Add distribution channels 02 05 STRATEGIC NUMERIC • Overtake the competitor • Increase total revenues These objectives can be quantified and are usually short to mid term focused. They can be easily measures as well. These are goals that cannot be quantified and usually long term in nature. They spell out the position the business wants to be in. Examples 03 06 • Increase the number of total customers • Build brand awareness
Setting marketing objectives STRATEGIC GOALS NUMERIC GOALS Gross (total) revenue Increase market share 05 01 01 05 Lorem Ipsum Lorem Ipsum Overtake competitor Revenue from new customers Lorem ipsum dolor sit amet, nibh est. A magna maecenas, quam magna nec quis, lorem nunc.. Lorem ipsum dolor sit amet, nibh est. A magna maecenas, quam magna nec quis, lorem nunc.. Revenue from existing customers Better represent value proposition 02 06 02 06 Number of new customers Build brand awareness 03 07 07 03 Number of total customers Add distribution channels Create strategic partnerships Goals by distribution channel 04 08 04 08 Create a lead generation system Goals by customer/client type Enhance online selling ability Goals by product/service line
SMART marketing objectives ACTIONABLE & ACHIEVABLE SPECIFIC MEASURABLE REALISTIC TIME BOUND Goals must be formed in the context of current economic conditions and realities of the business climate. The staff must agree that the marketing goals are attainable, within the specific time period and that they have the tools and skills needed to reach the objectives Set a real deadline that is reasonable and one that all the team members have consented to. The objectives set should have a quantitative and qualitative attributes. Track the set goals depend on the metric and it could be manual or using a marketing tool Each objective must define a specific outcome. Understand who, where, what, which and how of the product and or service you intend to market.
Activity Note down your marketing objectives and partner up to conduct a peer-to-peer review of the marketing objectives
Activity Incorporate your marketing objectives into the Implementation plan
Marketplace for Nutritious FoodsMarketing training for Businesses within the CoP 5. Customer Analysis November 2018 Author : Intellecap
Building your customer profile/ persona • Building the profile helps you build a buyer/ customer persona. Personas are the foundation for all tactical marketing and sales strategies and plans. Actionable Insights Think about how your products/ services will reach your market/potential clients. First select target markets that are easily reachable at the lowest costs using efficient strategies Psychographics Demographics Think about the behavior and beliefs of your customers. Give intricate details of the customer based on the segment
Customer archetypes Are you confident enough to draw a day in the life of your customer- in detail? Who are they? Who influences them? What matters to them? How do they buy?
Building the customer profile: Activity Build a customer profile on the persona template
Journey mapping: Dos and don’ts 01 Establish the why and the what 02 • Base it on the truth 03 • Collaborate with others 04 • Don’t jump to visualization • Engage others with the end product 05
Journey mapping Activity: Day in the life of a customer
Ice Breaker Gathering Customer Feedback
Listening to the customer : The Why… The Why… • 01 • 06 Reduces chances of miscommunication & builds trust Empathy begins with active listening. Customers have the ultimate buying power • 02 • 05 Feedback is a form of market research Feedback helps you improve • 03 Customers like to feel valued • 04 What tools… Online communities Suggestion boxes Mailing lists Social media Call Backs Customer surveys Discussion forums Live chats & polls
Listening to the customer The How… Take Action Step 04 Engage Step 03 Analyze Step 02 Listen Step 01
How to interview customers Interviewing customers takes time and skill, but is the fastest and most powerful way to learn if your business will be viable.
How to interview customers Get facts not opinions How often do you want to go to the gym this year? I plan to go several times a week. Q A I didn’t go to the gym last year. How often did you go to the gym last year? A Q
Interviewing Nuggets As questions about specific past experiences the customer has had: “The last time you…” “When? How? Why?” Ask leading questions “Would you…” “Do you…” Focus on feelings or opinions Create an interview script with your team DO! Ask only the questions on your script Keep it conversational and open-ended DON’T! Be afraid to do it again Take good notes, not just the answers but also observations
Activity Check for Understanding