The following summarises 5 of the key points covered in the Peterborough Marketing Taster Session held at the Eco Innovation Centre.
What is marketing –
- a very big question and we summarised it by SCP (satisfying customers profitably)
Why do Customers buy from you
Looking at the 5 L model developed by Bob Hogg
- Live – those businesses / people you currently do business with
- Loyal – those who love to purchase from you
- Likely – the element that many focus on first – due to the thrill of the chase and naivety
- Lapsed – those who we fought hard to get but who haven’t purchased again
- Lost – those who have dropped out of our radar and are buying elsewhere
Decision making process and influences
Is your product or service FIT for purpose
- Considering segmentation – the process of breaking the market into smaller groups of people who exhibit similar needs. So that we can identify what the exact needs of the segment are
- Considering what makes up your product or service from the perspective of
- Core benefit – problem solved for the customer
- Actual product – the physical design / functionality
- Augmented – warranty / after sales service / branding
- Potential – future developments
- Where is the product in its product life cycle
The importance of being different
- Are you just the same as your competitors or do you have a Blackpool Tower factor
- Looking at the issue of direct, indirect and future competitors
- Establishing where you are positioned in relation to your competitors against the factors of pricing and perceived user value
Why a marketing action plan is important
- the importance of having an effective strategy (doing the right things) and combining it with efficient tactics (doing things right)
- Looking at your business from a customer and product perspective in order to identify which approaches are market penetration – doing more with your existing customers
- product/ service development – identifying what new developments could be offered to your existing customers
- market development – which new customer segments could you target
- diversification – do you need to offer new products to a new target audience
How to get found on the web
- What is the search engine of choice – almost 100% use Google
- 4 key factors to get found on the web
- make sure its for a highly relevant term
- make sure that there is actually traffic for that search term
- choose a term that isn’t massively competitive
- make sure that if you get found for the term it has commercial significance
- What happens when a visitor arrives at your website?
- Can you use offline activities to get people to your website
How to ensure your advertising isn’t a waste of money
Far too much to cover in this summary so I will produce a separate detailed document. E mail firstname.lastname@example.org and mark subject as ‘Advertising a waste of money‘ and I will send you the report
In summary: An approach for marketing Return on Investment
- Know your target customer
- Make the offer and message relevant
- Select the relevant media
- Establish what action do you want them to take
Why Peterborough Marketing Activities Don’t Work For Companies And How To Overcome
4 key reasons why Peterborough marketing activities don’t work
- The nonsense of not concentrating on selling more to existing customer’s
- The energy sapping and inefficient activity of going for new customers
- How new products or services get developed without knowing if there is a customer need
- Why sometimes the best thing to do is something completely different
How you can significantly improve your marketing activities
Cambridgeshire marketing activities can be improved by
- Clearly segmenting their existing customer list
- Which existing customers would you benefit from sacking (that’s right, are there customers that would actually be beneficial for you to lose or give to your competitors)
- Which type of customers are the most profitable – not all customers are equal, are there certain customers where you should be providing a higher level of service
- Targeting and profiling which new customers they want to gain
- If you know the reasons why existing people use you it makes it easier to work out who to target
- How to target them
- When to market to them
- Identifying from existing customers what additional products or services they have a need to purchase
- Especially if they tell you about shortfalls in current supply
- Pains that they have that aren’t being met
- The value that they would be prepared to pay if such a product or service was available
- Knowing how well their existing products or services matched the needs of their existing market
- Sometimes the product you were making just isn’t relevant any more Analogue Televisions, Slide Rules etc
- What if you come across a unique product that is suitable for a completely different set of customers
You will see there are lots of etc’s above. The issue of marketing is a subject way bigger than can be covered in a 5 minute video.
As a Peterborough independent retailer
- Are you looking to increase your sales and grow your business?
- Would you benefit from some practical training, support and advice focused around your business activities?
- Do you want to improve the effectiveness of your marketing activities both offline and online i.e. achieve more at a lower cost?
- What if you could test some of your Sales messages and Promotional materials before you committed to £ spend?
The Peterborough Marketing Action programme for Independent Retailers is designed to help you develop the most effective marketing actions for your business.
“This is the most exciting initiative I have seen offered to retailers in years. It provides practical and expert marketing guidance to make a genuine difference to retailers. At virtually no cost, there are huge benefits and I believe this is a great opportunity for the Independent retailers in Peterborough”
Steve Bowyer – Opportunity Peterborough
What’s included in the Peterborough Retailer Marketing Action
Peterborough Retailer Marketing Action is a unique 3 stage programme of practical training, facilitated discussion, 1:1 action marketing and review designed specifically to help independent retailers improve their business performance. It is delivered by professionals in Marketing, Business Development and Internet Marketing
- Explore which marketing approach will generate your business the most sales
- Review your existing Sales & promotion approaches to identify where you are wasting money
- Identify if online activities could generate additional business
- Identify opportunities for joint relationships with other retailers
Session 1: Marketing Stimulation – prepare to be challenged on your marketing, explore the opportunities for you and your customers. Bob Hogg & Andrew Goode
Session 2: Offline Marketing Stimulation – Review, Development and Testing of alternative online marketing e.g. so how good is your advert / shop window. Bob Hogg & Andrew Goode
Session 3: Online Marketing – are you maximising the potential of the web, are there opportunities for you to drive more people to your shop. Richard Groom & Andrew Goode
1:1 sessions: will be allocated during the programme
To minimise disruption to the working day the first 3 sessions will take place from 6.00pm to 9.00pm
*If you employ between 5 and 249 people (to include all staff / helpers / volunteers) you could be eligible for Leadership & Management funding to pay for the cost of training excluding VAT. All you will pay for the programme is the VAT a total cost of £87.50 . The intensive nature of the support provided means that a maximum of 16 will be allowed on the programme.
Peterborough Engineering company uses video’s
Working with Peterborough based engineering company Seefold Engineering Services we have developed a range of videos to showcase its wide range of products and services (Key point: it’s all about the messages – not the technology to create the video)
If a picture paints a 1000 words, then how many words are conveyed by a 30 second video. Seefold Engineering Services wanted to showcase information on their HVAC capabilities and specific industry sector information. This was achieved quickly and cost effectively using the latest video technology.
Simply Showcase Capabilities
The video allowed SES to profile their wide range of bathroom fitting capabilities in an easy to follow format for the viewer. The video is also stored on an i phone which allows SES engineers to show customers without web access their bathroom capabilities. Customer feedback has been very positive to this format. The simplicity of the system allows SES to easily add additional images as new bathrooms are designed and installed.
With a great track record of installing heating and plumbing into heritage buildings, SES wanted a video that they could use when initially contacting new heritage contacts. Over time the video could be enhance by the addition of customer testimonials.
The classic marketing problem is that we have clients who say “I didn’t know you did that”, the development of a 120 second video which showcases the diverse services provided by SES allows them to easily give a flavour to a customer of the wide range of services they are able to provide. Note a 30 second can often be developed for as little as £hundreds which can make it a highly cost effective promotional tool.
The Power of Single Focus – or how doing one thing means you get more done
How can we get more done at work
We all want to get more done during the course of the day but what is the key issue that stops us achieving. I have been to a number of events recently where this has been a key focus.
In recent business trips to the US I have listened to Dr Lisa Lang talk about the ‘Theory of Constraints’ and more recently I sat in on a session called the ‘power of single focus’. Essentially what both approaches lead towards is as business leaders / business owners we try and take on too many projects and manage too many tasks simultaneously. This results in us constantly stopping and starting.
“Change your clients mindset or Change your clients”
In summary ‘Theory of Constraints’ and the ‘Power of Single focus’ suggest that if you focus on a single project and complete of much of it as you can before moving onto the next project you will achieve significantly more with the same level of resource.
Peterborough Marketing Tactics – what’s needed to create effective marketing
Peterborough Marketing Tactics – What is your point of differentiation
As a Marketing Peterborough consultancy sometimes we fall foul of jargon (just like any industry). So key elements of the process
- Segmentation – to make sure we understand the customer profiles that choose our product / service
- Differentiation – what makes us different from the others
- Positioning – how we rate on a price / value basis
Wow, Why and Wooh
- So the WOW in a nutshell is the emotion that needs to be created when you first engage with the prospect / customer whether its in person or through communications material. From a business to business perspective this is very well illustrated by the following ” When I get your proposal do i go WOW?”
- Now Wow things don’t have to be massive to have a major impact. The example of having a fly etched into the men’s urinals in a number of public toilets is a great example of this. (For those who are interested and cant fully visualise I can supply images.) By having something in the urinals for men to focus on, spillage has been reduced by 80%. Showing that
- The little things you do can make a profound difference
- Its the little things that you do habitually that define you
- Now Wows are never static – in a rapidly changing world we need to be constantly striving to develop our WoWs. So going back to our toilets. In a number of premium quality airport toilets they have a touch screen feedback screen where on exiting the toilets you can rate your experience on the cleanliness of the facilities. A set of 5 icons from smiley face to Unhappy face allow you to rate the experience. In the event of someone being unhappy with there experience a cleaner visits the toilets within 30 seconds — WOW.
Green Marketing Peterborough Seminar 16th May
- Wont get any benefit from operating in an ethical, sustainable or green manner
- Don’t really believe that the way operate as an organisation will have any impact in the way we live
- Can’t understand that a customer might choose a product that purports to doing a greater good as well as providing the product / service that they need
Green Marketing Peterborough Encouraging Companies
I believe that ethical, sustainable green trading (whatever label you want to give it) is becoming a more important part in the consumers selection process, whether this is at business or consumer level. Categorically as has always been the case, you have got to give the consumer the product that they want but importantly in the selection process if a product offers a more ethical approach this provides a company with an opportunity to differentiate itself”. Now in the past companies have played at Green – using it as an initiative. Whereas those organisations who will benefit from green marketing will embrace it within their business, community and customers.
Green marketing Issues For Consideration
Green Marketing make Sure It’s Not Green Wash
The following are some thoughts that will hopefully help around the difficult but crucial issue of making comments around environmental, sustainable, green credentials
- Perhaps one of the most important points, clarify what you actually mean by the claim
- Avoid meaningless terms like ‘environmentally friendly’ or “sustainable solution” unless you can offer quantifiable support to this claim. Rather than being more sustainable it could be that the thing you do is “less unsustainable!)
- Ensure your claim applies to all parts of the product or service (if it doesn’t specify the parts it does)
When communicating about your Green product / service
- Check the content is relevant and reflects a genuine benefit
- what are the full impacts of your product
- is it a fair comparison against other services. E.g. The greenest accountants in Peterborough – now that could be because your name is Greenstones accountants but is that a fair comparison
- You will need evidence. This is where some of the environmental initiatives come into play (We have just gained Environmental accreditation)
- Present the claims clearly and accurately
- Check the claim can be readily (and easily ) substantiated
Green Marketing Good Practice – in terms of writing copy for a car performance
- The fuel consumption of this car emits 10% less carbon dioxide per mile than all other cars measured in the large car category
Green Marketing Poor Practice – in terms of writing copy for a car performance
- The XYZ is greener than competitors, and allows you to drive in a more environmental way