Marketing & Branding

Marketing & Branding Positioning Your Firm for Growth Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What is Branding? • Your promise to your customer. • It tells them what they can expect from your products or services. • It differentiates your offering from other options. • It’s derived from who you are, who you want to be and how you want to be perceived. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What’s the Purpose of Branding? • To increase a target audience’s likelihood to purchase now and in the future. • To saturate positive characteristics into your marketing proposition. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What Branding is Not • It’s not about your logo. • It’s not about always using the same colors. • It’s not a jingle or a physical thing. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Branding is Like a Chess Game • You always have to be thinking a few steps ahead. • You begin to see the market differently. • You start to understand your position, your competitors position and where your customers are heading. • http://www.youtube.com/watch?v=l5BnnBOLOUU Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What Products/Services Am I Selling? • Exercise 1 Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Branding is About Planning Your Customer’s Experience • It’s about thinking with the end in mind. • Asking where are we now? • Where can we be and how do we get there? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Need for Your Product/Service • Some products and services create an awareness of the need they solve. • http://www.youtube.com/watch?v=P1mlJPb1l6s Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Solving a Problem With Your Product or Service • Is your product/service being considered by people as a way of filling a need? • The customer may know they have a need; they may even be aware of your products. But are they considering you? • http://www.youtube.com/watch?v=zM1IFIe1z5U Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Are you Attractive? • Do you know why your offering is attractive and to whom? • Every moment someone spends with your product or service is part of your relationship building—your branding. • Is your relevance to your customer increasing or decreasing? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Marketing is a Battle for a Share of Your Customer’s Wallet • Can your prospect find you easily when they’re searching? • How can you out value your competition? • Where do your prospects turn to get information to make an informed purchasing decision? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What Makes Buyers Choose? • Can you better help customers like what they get? • Can you help them appreciate the value? • http://www.youtube.com/watch?v=yXTJhVBqWOM Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

The Sales is not the Endgame • Your sale is the beginning of a sustainable business relationship. • Guide them to buy: • help them use your product/service for maximum effect; • Help them appreciate the results/experience with your product or service; • Suggest their next purchase. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Why They Buy • Exercise 2 Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What Problem Do You Solve? • If you can describe the problem that you solve from your customers viewpoint, that will go a long way towards building a relationship that leads to repeat purchases. • Exercise 3. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Defining Value Features, Benefits and Value Types Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Know the Difference Between Features and Benefits • Features = What a product is; attributes (Described with an adjective followed by a noun) • Benefits = What a product does; Answers the question: “How will it help me?”; (Uses a verb followed by a noun) Adapted from: The Science of Sales Success; Josh Costell; AMACOM Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Example: New Home Features Benefits • Close to shopping • Good school district • 14k gold bathroom fixtures • Save time traveling • Develop smart kids; Save money on private school tuition • Impress your friends Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Example: Banking Services Features Benefits • Online banking • Free checking • Large branch network • Manage your account easily • Save money • Access money anywhere Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Perceived Value • Customers use emotions, prejudices, preferences, and experiences to assign value to benefits. • Benefits with perceived values are hard to prove or disprove. • http://www.youtube.com/watch?v=fF3G7vdM2UI • http://www.youtube.com/watch?v=rRPyvS1TPKQ&feature=related • Benefits with perceived value can have perceived dollar amounts attached to them. The “better” taste of one drink might be worth more than the perceived value of another. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Measurable Value • Customers use objective data to assign value to benefits. • When benefits have measurable value, they require more efforts to calculate their worth. • Once calculated, the benefits of measurable value are easy to prove and to sell. • http://www.youtube.com/watch?v=8TwaTRslsbE Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Features, Benefits, and Value Types Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Customer Buying Process 6 Steps Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 1: Problem/Need Recognition/Desire • Your goal: Get their attention. • Tools you use: PR, advertising. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 2: Information Search • Your goal: Gain their interest, determine their needs, emphasize your strengths. • Tools you use: SEO, Information rich websites, white papers, direct mail, news releases with keywords, faxback system. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 3: Evaluation of Alternatives • Your goal: Stimulate their desire. • Tools you use: Seminars, webinars, a compelling offer. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 4: Purchase Decision • Your goal: Get them to take action. • Tools you use: Deadlines, limited availability, guarantees, ask for action. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 5: Purchase • Your goal: Make it easy to buy from you. • Tools you use: Credit cards, online purchase, in-bound 800 number, payment terms. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Step 6: Post-Purchase Evaluation • Your goal: Ensure satisfaction, up-sell, cross-sell and get referrals. • Tools you use: Surveys, coupons, service calls, letters, articles. • Exercise 6 • Using the personas you created last time, map the buying process for your product/service to your potential customer. Adapted from: Call to Action, Bryan & Jeffrey Eisenberg, Wizard Academy Press Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Make Them an Offer They Can’t Refuse Apologies to the Godfather Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

The Offer • The offer is the single most effective tool for driving up response. • The offer isn’t your product; it’s an incentive to help your prospect overcome inertia. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Your Offer Needs to Appeal to Basic Human Desires • Is it unique, exclusive or highly valuable? • Does your offer provide info that makes the prospect feel smarter, save time, save effort, save money, avoid hassles, worry or concerns? • Is the offer useful, attractive, or prestigious? • Does your offer give them something highly desirable for free? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Offers That Increase Response Rates Business Offers Consumer Offers • Free guides, books, white papers, checklists • Free self-assessments or evaluation tools • Free demo disk • Free audits • Additional free support or training • Guarantees • Sweepstakes • “How to” guides • Free accessory to product • Free shipping/delivery • Gifts • Additional product, Extended warranties • Guarantees • Sweepstakes Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

What Kind of Offer to Make? • Use educational offers for products with a long sales cycle. • Mortgage: “How to” DVD on the home buying process. • Cosmetic dentistry: “The Facts About Bonding” booklet. • Use price oriented offers for products with a short sales cycle. • Magazine subscription: “6 free issues” • Clothing: “free alterations” Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Calculations Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

How Much Should You Spend to Get and Keep Customers? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

Marketing & Branding