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Marketing Planning Best Practices for Construction - Webcast

Marketing Planning Best Practices for Construction - Webcast. 2011 Marketing Outlook/Trends October 15, 2010. Welcome. Today’s Speaker: Neil Brown Chairman Construction Marketing Association neil@ConstructionMarketingAssociation.org. Agenda – Marketing Planning.

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Marketing Planning Best Practices for Construction - Webcast

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  1. Marketing Planning Best Practices for Construction - Webcast 2011 Marketing Outlook/Trends October 15, 2010

  2. Welcome Today’s Speaker: Neil Brown Chairman Construction Marketing Association neil@ConstructionMarketingAssociation.org

  3. Agenda – Marketing Planning Why Marketing Planning is Important? The three (3) types of marketing plans How to establish marketing budgets A marketing planning checklist Results of the 2011 Marketing Outlook survey

  4. Marketing Planning Why is Marketing Planning Important? • Most construction categories have declined in this recession • Measuring and reporting results a top priority • Marketing budgets/spending being scrutinized more than ever • Marketing effectiveness, efficiencies key • Seat-of-the-pants marketing not cutting it

  5. Marketing Planning 3 Types of Marketing Plans • Project or functional marketing plans • Tactical marketing plans • Strategic marketing plans • Note that business plans can have a marketing portion (which tends to be strategic)

  6. Marketing Planning Project or Functional Marketing Plans • Project plans identify and detail steps, schedules, objectives, measures, budgets for a specific project. • New Website development and launch • Email campaigns to vertical trade contractors • Functional plans focus on groups of activities • Advertising/media plan/schedules • Trade show plan • Publicity plan

  7. Marketing Planning Tactical Marketing Plans • Complete marketing activity plan with schedules or calendar, budgets • Consolidated project plans • NO strategy, research, situation analysis, etc. • Identifies, details ALL marketing programs, initiatives, campaigns • Could be as simple as a spreadsheet

  8. Marketing Planning Strategic Marketing Plans • Longer time frame (typically 3-5 years) • Analysis and research support (segmentation, positioning, primary research, competitive analysis) • Possible financial analysis, projections, capital spending, measures • Updated annually

  9. Marketing Planning Marketing Budgeting – 3 Types • Percentage increase or decrease (vs. prior year budget) • Task and objective • Percentage of sales • Combination of above

  10. Marketing Planning Marketing Budgeting – 3 Types • Percentage increase/decrease vs. prior year budget • Most common • Easiest, rubber stamp, less common in today’s economy • Task and objective budgeting • Sometimes called zero-based budgeting • Appealing as budgets relate directly to activities • Easy with detailed tactical or functional plans • Percentage of sales • Compare to competitors, industry benchmarks • Combination of above (consider all types, hybrid)

  11. Marketing Planning Marketing Budgeting – Competitive Benchmarking

  12. Marketing Planning BACKGROUND (cont’d) d. Competitors i. Market share ii. Branding/positioning iii. Key marketing initiatives iv. Intelligence e. Prior Marketing Programs and Results i. Sales ii. Inquiries/sales leads/new customers iii. Website traffic statistics (Google analytics, host stats) iv. Other measures Marketing Planning Checklist BACKGROUND a. Company or brand i. Historical sales, margins, volume ii. Economic drivers (macro) iii. SWOT analysis b. Market Analysis targets i. Market sizing ii. Market segmentation iii. Customer identification (incl. demographics) iv. Channels of distribution iv. Sales process (incl. cycle) c. Market Research i. Secondary research (internet, assoc., publications) ii. Syndicated research (Dodge Reports, Reed Construction Data, EDA, other) iii. Primary research (surveys, interviews, focus groups)

  13. Marketing Planning Marketing Planning Checklist OBJECTIVES a. Sales (Revenue, Volume, Margin) b. Market share c. Other measures (ROI, payback, breakeven) STRATEGIES a. How to achieve objectives, not specific tactics i. New products ii. New markets iii. Promotions iv. New Programs v. Customer initiatives

  14. Marketing Planning TACTICS (cont’d) c. Advertising i. Media (research, planning, contracts, traffic) ii. Print (trade publications) iii. Online (banners, directories, Google AdWords) iv. Broadcast (TV, radio) b. Publicity i. News releases ii. Press list iii. Press kit iv. Press events v. Article (writing, placement) vi. Media relations vii. Distribution (internet, wire service) Marketing Planning Checklist TACTICS a. Branding i. Re-branding ii. Naming iii. Identity iv. Sub-branding, trademark registration, identity standards b. Internet i. Website development, re-development, microsites, landing pages ii. Search engine optimization (SEO), search engine marketing (SEM) iii. Social media (profiles, content, blog and forum posts) iv. Email campaigns (landing pages, registration forms) v. Webcasts, webinars, web conferences

  15. Marketing Planning TACTICS (cont’d) h. Channel Marketing i. Dealer or distributor programs ii. Promotions iii. Merchandising support, POP, packaging iv. Training programs v. Launch kits vi. MDF or Co-op programs i. Direct Marketing i. Direct mail ii. Database marketing/Lead Management iii. List procurement iv. Email, Webcasts j. Photography and video (supports above tactics) Marketing Planning Checklist TACTICS (cont’d) e. Sales Promotion i. Programs ii. Training iii. Contests, coupons, sweepstakes f. Collateral i. Brochures, product sheets, flyers ii. Catalogs, manuals, instructions, installation iii. Educational content (white papers, guides, etc) g. Trade Shows and Events (nat’l, intn’l, regional, local) i. Exhibit design ii. Booth graphics iv. Pre-show promotion v. Lead management

  16. Marketing Planning TACTICS (cont’d) h. Channel Marketing i. Dealer or distributor programs ii. Promotions iii. Merchandising support, POP, packaging iv. Training programs v. Launch kits vi. MDF or Co-op programs i. Direct Marketing i. Direct mail ii. Database marketing/Lead Management iii. List procurement iv. Email, Webcasts j. Photography and video (supports above tactics) Marketing Planning Checklist TACTICS (cont’d) e. Sales Promotion i. Programs ii. Training iii. Contests, coupons, sweepstakes f. Collateral i. Brochures, product sheets, flyers ii. Catalogs, manuals, instructions, installation iii. Educational content (white papers, guides, etc) g. Trade Shows and Events (nat’l, intn’l, regional, local) i. Exhibit design ii. Booth graphics iv. Pre-show promotion v. Lead management

  17. Marketing Planning Getting started • Review prior years plans • Solicit input on changing customer and market conditions • Use marketing plan templates or spreadsheets • Do competitive and industry analysis and benchmarking • Review 2011 Marketing Outlook survey results!

  18. 2011 Construction Marketing Outlook

  19. 2011 Marketing Outlook September survey through SurveyMonkey, results from a statistically relevant sample 2011 Budget Outlook (increasing/decreasing/same) What is most important marketing priority for 2011? Which marketing tactics will increase in 2011? Which tactics will decrease in 2011? Company type or classification

  20. 2011 Budget Outlook For the coming fiscal year, do you intend to: • Increase marketing activities and budgets? • Decrease marketing activities and budgets? • Stay the same as this fiscal year?

  21. 2011 Marketing Priorities What is the most important marketing priority for 2011?

  22. 2011 Marketing Tactics What marketing tactics will increase/decrease for 2011?

  23. 2011 Marketing Tactics What category or classification best describes your company?

  24. Marketing Outlook – Summary • For the coming fiscal year, do you intend to increase or decrease marketing activities and budgets? • 65% plan to increase marketing activities and budgets • 23% plan to decrease marketing activities and budgets? • 12% plan to stay the same • What is most important marketing priority for 2011? • Measuring results #1 priority (21%), budgeting at 8% • Internet #2 (17%) including websites, SEO and Social Media • Implementing marketing programs (14%) and sales leads (11%) • Advertising and PR lower priorities (3% each) • Which marketing tactics will increase/decrease in 2011? • Almost all to increase Internet, Social Media and PR • Trade shows decreasing for majority, advertising equal • Company type or classification • Majority architectural, engineering, construction (AEC) firms • Building materials, home builders, remodelers, equipment

  25. Q&A

  26. Thank You! The Construction Marketing Association (CMA) is a network of marketing managers and executives in construction-related fields. CMA provides professional development and training, resources and information, networking and recognition. Find us: www.ConstructionMarketingAssociation.org www.ConstructionMarketingBlog.org Twitter.com/ConstructMarket Facebook.com/ConstructMarket LinkedIn.com (Construction Marketing Association Group) Next Webcast: Measuring Marketing Results November 15, 2010

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