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Marketing: Guerrilla vs. The Entire Jungle

Marketing: Guerrilla vs. The Entire Jungle. Presented by Karen Porter Department of Marketing School of Business Administration The University of Montana. What is Marketing?. Astute evaluation of trends and opportunities Deep insights about customer needs

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Marketing: Guerrilla vs. The Entire Jungle

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  1. Marketing: Guerrilla vs. The Entire Jungle Presented by Karen Porter Department of Marketing School of Business Administration The University of Montana

  2. What is Marketing? • Astute evaluation of trends and opportunities • Deep insights about customer needs • Knowledge of competitors, positioning & value • Segmentation, targeting, and positioning • Effective use of Marketing Mix – the “4 P’s” • Effective relationship management strategies

  3. Course Specifics • About the course • Hands-on & interactive • 4 weeks with “homework” • impactonlinemarketing.com/sell-gmarketing • About your instructor • karen@impactonlinemarketing.com • 406-529-8931 • About YOU and why you are here • Introductions • Prep work done?

  4. Who is Your Target Market? Identify by similar characteristics: Age, Gender, Income, Education, Interests, Occupation and Other Criteria of Relevance

  5. Strategy Decisions Can Be Very Difficult

  6. Key Marketing Strategy Decisions

  7. Insights from Target Customers

  8. Target Insights > Strategic Decisions >The 4 P’s of Marketing

  9. Rules of the 4 P’s

  10. Delivering What Your Customers Want

  11. NOW You Can Think About Specific Marketing Tactics

  12. Before the Internet • Businesses relied upon traditional media: • Yellow Pages • Newspapers • Television • Direct Mail • Telemarketing • Magazines • Radio • Faxes

  13. Times are Changing Traditional advertising media are losing effectiveness • Directories – print versions go out of date / expensive • Print Pubs– in decline / costs up / shifting readership • Broadcast– fragmentation / zipping / zapping / Hulu • Direct Mail– costly / low conversion / slow • Telemarketing – do not call lists / intrusion factor • Faxes– mass faxing less effective / easy to overlook • Referrals – ALWAYS relevant / but lack of control

  14. New Media is Online& Online Statistics are Astonishing • 1 Trillion + — number of web pages in the world • 200+ Billion online searches each year in U.S. alone • 30 % — searches that are targeted locally (city or zip )* • 20 % — total online searches done by mobile phones* • 37 % — small businesses without a website* • 80 % — local searches done on mobile devices = buyers* • 0 % — chance to connect with consumers who are searching online if an organization doesn’t have an online presence * 2012 statistics based on U.S. data only

  15. Business Owners Face Marketing Challenges • Recession has led to slower sales & lower profits • Traditional media declining in effectiveness • Consumers are searching for businesses online • Business owners are confused and frustrated about how to use online marketing effectively • Many businesses lack either the knowledge, the interest, or the time to learn online marketing and develop an online strategy

  16. A Website is EssentialBut Having One isn’t Enough • Websites lend credibility • The business card of yesterday • Is your website getting found? • Know how people are searching & where your site is ranked • How do you drive traffic to a website? • Know what your prospective customer is doing online • Is your web presence helping or hurting your business? • Develop a cohesive online / offline marketing strategy

  17. Why Being “On” Google is Vital • 70% of all U.S. online searches are done on Google • 80% + of intl. online searches are done on Google (with a few notable exceptions – ex: China) • 60% of searchers do not typically search beyond page one of search engine results • Do you know what your potential customers are searching for? – Keyword Research • Need to be FOUND by those searching for the goods and services you offer – SEO (SearchEngine Optimization)

  18. Keywords Rule! Know How Your Customers are Searching and Which Words are Important to Them • Google Keyword Planner

  19. Keywords – Online & Off • SEO for On-Site Optimization How Search Engines Find and Rank Your Site • Meta code – title tag (limit 60 characters) • Meta description (limit 160 characters) • Page title (headline) • Page URL (http://yoursite.com/keyword • Page copy, graphic alt tags, and more • Use Keyword Research to “Connect” Offline • Offline advertising • To know what your customers are seeking

  20. Website Not Getting Found? • Was the site developed strategically? • Were goals clearly defined on the front end? • Was keyword research done first to drive how and where those words are optimized on the site? • Did development include these 3 key elements? • Solid coding (the site functions as it should) • Strong design (attractive, credible & user-friendly) • Strategic marketing (solid SEO, marketing strategy done on front-end, integrated and ongoing online marketing strategies)

  21. Does My Business HAVE to Use… • Facebook • Twitter • LinkedIn • Pinterest • Google + Local • Blogging • Mobile Marketing • Other?

  22. Mobile Marketing – The Next Wave • 62 % of U.S. citizens now own smart phones • Japan and Europe mobile are far ahead of U.S. in smart phone usage; the U.S. is sure to follow • 97% of smart phone users search online by phone • <20% of all sites are mobile-friendly

  23. What Does This Mean for Biz? • Marketing strategy needs to marry online and offline marketing initiatives • Know specifically the words your customers are using to search – them use those words online • Use offline findings to market offline • Use media that is right for your type of business • Know what’s already working for you - continue using what works and eliminate what’s not

  24. What Does This Mean for Biz? continued • Know your “conversion funnel” statistics – having the ability to measure gives you power • Develop a STRATEGY (don’t just try a hodge-podge of ideas hoping something will work) • Measure and tweak what’s working and then “rinse and repeat” to improve your results • Do NOT try to do everything – just do several things really well and you’ll have better success

  25. So Let’s Get Started!

  26. Focus on Guerrilla Marketing • “Unconventional” (non-mainstream) • Low or no cost marketing • Emphasis on profits, not just sales • Creativity based vs. spending based • Focus on markets and target audiences vs. trying to be all things to mass markets • Support cooperation and collaboration vs. head-to-head competition • Leverages the many benefits of technology

  27. The Profit Funnel The Profit Funnel

  28. Disproportionate Marketing Focus

  29. Marketing is More Than Just More Leads and More New Customers

  30. Increase # of Transactions

  31. Increase Average $ Per Sale

  32. Increase Overall Profitability

  33. 10% Increase in Each Area = $$$

  34. Karen Porter karen.porter@business.umt.edu -or- karen@ImpactOnlineMarketing.com (406) 529-8931

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