Marketing

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Marketing
FAMAS

• In The Real World Of An SME

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Dont Worry
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• If you want to see the slides again visit
• www.famas.co.uk

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Frank ShawToo young to be a GURU!
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Relevance to us?
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• Last 8 years own consultancy FAMAS
• Delivering results for SMEs mainly in Beds Bucks
  and Herts. Successes include delivering 3million
  extra profit on an 80 million turnover business
  in 6month project
• Paid by results achieved
• Focus on ideas that deliver real results rather
  than theory
• Wycombe furniture knowledge
• Includes Stewart Linford, Frank Hudson

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The Session Plan
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• A simple task
• Develop an UNDERSTANDING of what MARKETING means
  in the real world
• Based on Real Life examples including
• Selling more by being more expensive
• Providing services to the furniture industry
• Any questions
• Another simple task

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Why Bother with Marketing
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• Not essential - Survival is not compulsory
• Survival and growth are based on profit and cash
  flow
• Profit and cash flow depend on effective selling
• Selling depends on Marketing

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Marketing
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• Creating the environment for effective sales

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HOW IS IT DONE
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• Based on using common sense and a simple process
• Identify your target market
• Make your product attractive to them
• Letting them know why it is good for them
• Sounds easy because it is if you are methodical

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Identifying your target
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• Know yourself and what you could offer
• STRENGTHS and WEAKNESSES
• Who would want your strengths but not be deterred
  by your weaknesses
• Be imaginative
• Develop OPPORTUNITIES
• Be realistic
• Identify the THREATS

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Making the Product Attractive
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• Focus on CUSTOMER BENEFITS including
• Product/Service
• Style and design
• Soft factors
• Value balance

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PRODUCT / SERVICE
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• Focus on customer benefits
• Establish the priority of the benefits
• E.g. Should durability outweigh ease of use?
• Make the benefits visible
• Avoid anorak benefits
• An expert would appreciate the complicated and
  expensive way I do this operation but will your
  target market care?

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STYLE AND DESIGN
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• Emphasise your key characteristics that your
  product will be recognised by
• Make it easy for the customer by making what they
  want
• Avoid the anorak syndrome

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SOFT FACTORS
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• All about perception
• Designed for the rich and famous, I want it too
  The Jubilee Chair was fit for the Queen
• Special and rare - Crowded restaurant lucky to
  be able to buy it at all Limited Editions
• Playing to your strengths and reputation

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VALUE BALANCE
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• Aligning the specification to your target market
• Pricing
• Over pricing kills interest
• Under pricing damages credibility and kills the
  business
• Be consistent
• Deliver what you are charging for at every stage

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RECAP
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• We know what we are good at
• We know who wants it
• We know what it is
• We know how to price it
• All we have to do is let someone else know about
  it so they can buy it

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LET THEM KNOW
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• The best product in the world is useless unless
  people know how good it is
• Manage the perception they have about you and
  your product
• Be creative in getting yourself known

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THE MESSAGE
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• PROMOTE THE BENEFITS
• Real
• Functionality, durability, reliability
• Perceived
• Quality, style, service, exclusivity, ambiance,
  value, security
• Drivers
• Aspiration, snobbery, greed, recognition,
  belonging, acceptance

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DELIVERING THE MESSAGE
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• Pick up the phone
• Text messages
• Email
• Keeping existing customers informed is
  particularly productive because they like your
  product so much that they bought it

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EXISTING CUSTOMERS
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• Know who your customers are
• Records, response cards, guarantee registration,
  servicing
• Encourage existing customers to find the next
  customer for you
• Clearly brand your product for ease of identity
• Gifts, cards and calendars that they are proud to
  display for you

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MEDIA ADVERTISING
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• Magazines, Newspapers, TV, etc
• For hitting a lot of people quickly if you have
  the cash
• Expensive unless well thought out
• Research the relevant media carefully
• BRAD
• Negotiable

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LEAFLETS AND MAIL SHOTS
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• LEAFLETS/INSERTS
• Can be finely targeted
• Also used for reinforcing contacts
• Ensure they reflect your values
• MAIL SHOTS
• Dependant on having quality addresses
• 2 response considered a success
• Good for motivating existing prospects and
  customers
• Useful for testing at low cost

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NETWORKING AND EVENTS
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• NETWORKING
• Being in the right place with the right people
• Be realistic in differentiating networking from
  wasting time
• Corporate identity
• EVENTS
• Shows, parties, demonstrations
• Success is in the detail
• Can be free or even revenue generating

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WEB SITES
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• Web Pages
• Increasingly used
• Potentially very cost effective
• Easily modified and updated
• Good for Testing
• Search Engine Listings important
• On line shoppers including E-bay
• Avoid the anorak syndrome

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ASSOCIATION
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• Position your product to be seen in environments
  that bestow perceived values
• Lend it to prestigious functions and events, sale
  or return in relevant outlets, give it to the
  right people. As seen on TV.

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PR
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• The media are pleased to give it away
• Simple to do
• Become newsworthy
• Win Awards, Interesting products, Celebrations,
  Key Dates, Community support, Battle with
  Authority, Mix with celebs, Become a recognised
  expert, etc.
• Virtually Free
• People trust editorial more than paid advertising
  

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MANAGING FOR SUCCESS
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• Monitor results achieved to identify winners and
  losers
• Continually improve product, message and medium
• Develop and Test alternatives
• Refresh SWOT and STRATEGY
• Utilise resources

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SUMMARY
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• Clarify what you should be doing
• Product features, target audience
• Promote the benefits
• Real and perceived
• Manage and improve the process
• Be alert and nimble

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WANT A COPY OF THESE SLIDES ?
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• VISIT
• www.famas.co.uk

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