Flying Start Rally 2006

1
Flying Start Rally 2006

• Basics of Marketing
• John McMillan, McMillan Technology
• www.mcmillantech.co.uk

2
Marketing

• If you have the right team and get the marketing
  right, you will succeed
• If the marketing is wrong, you wont

3
Marketing

• Marketing is like an iceberg 90 is below the
  surface
• The essence of marketing is having the right
  product for the right customers

4
When Should I Start Marketing?

• Most new companies start marketing too late
• You need to start on day 1
• If you design your product around the market you
  are much more likely to succeed

5
Step 1 Get the Product Right

• Who needs the product?
• How badly do they want it?
• Casual interest
• Want it (desire)
• Want it badly (strong desire)
• Cant live without it
• The demand can be latent
• (They dont know they want it)

6
The Product and Supplier

• Can we realistically bring this to market?
• Why would they buy from us?
• What is different about us?
• The Unique Selling Proposition (USP)
• What is the competition?
• Now and in the future?

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Why Do Customers Choose a Supplier?

• (The 4 Ps of marketing)
• Promotion
• i.e. how they get to know about it
• Product
• Think of a house
• Price
• Place
• Where do I buy it?

8
Market Segments

• You almost certainly cant sell to the whole
  world
• HUGE marketing budget
• Tiny market share
• Tiny brand and reputation
• So
• Shrink your market

9
Market Segments

• A segment must be
• Different
• Relevant
• Significant
• (something special about its needs)
• Accessible
• Suitable size
• Ideally about 5 - 10 times your target turnover

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Example segments

• Geographic
• Town, County, Region
• Ideal for retail and professions
• Industry or profession
• Consumer interest
• e.g. disco, koi carp, classic cars

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Market Segment

• A good segment would have some sort of
  community
• List of members can be found
• Journals exist
• Other forums exist clubs, exhibitions
• They talk to each other

12
SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

13
SWOT for small business

• Strengths
• Flexibility
• No chain of command no need to approve
• Close to customers
• Comfort from small customers
• Weaknesses
• Few resources

14
Market Research

• You should really do this before committing
• Talk to prospective customers
• How much to they like it, what are their
  problems, how much will they pay?
• Research
• Internet
• Reference library

15
Marketing Methods

• Advertising
• Expensive
• Whole campaign needed
• 1 ad is never effective
• Needs targeted media
• Local papers
• Magazines
• Posters
• Web sites

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Marketing Methods

• Mail shots
• You have high control
• Fairly slow, several needed
• 2 seconds before it goes in the bin
• Can put out a lot of information
• Email
• Cheap and rapid
• Problems with spam

17
Marketing Methods

• Point of sale
• Great for retailers
• On site boards
• Vans
• Exhibitions and shows
• Expensive
• Mixed targeting
• Make sure you follow up

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Marketing Methods

• Web site
• Vast potential to give information
• The user can select what he wants to read
• Ability to distribute demos and samples
• Easy to keep up to date
• How do they find the site?
• Search engines
• Links from club sites c
• A web site can be used to back up other methods

19
Marketing Methods

• Telesales
• Dealers, Distributors and Agents
• Easier to find than end customers
• They will want a cut, but will this cost more
  than finding customers yourself?
• You lose a lot of control
• People who can introduce you to customers

20
Marketing Methods

• Be Creative
• There are many ways to market on a budget
• Word of mouth
• Its how Google got there
• Networking
• Get out and meet people
• Mutual help
• You scratch my back

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Creative Marketing

• Sponsorship
• Its not a donation, its advertising
• Visit exhibitions
• Be cheeky, hand out your card
• Press articles
• Write articles, become an expert
• Conduct master classes!

22
Branding and Reputation

• Branding is about the way customers see you
• Aim to be the first company a customer checks
• Reputation is vital
• Rather a good reputation is
• Word of mouth is the most powerful marketing tool

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Finally

• Marketing is like an iceberg
• Define your
• SWOT
• USP
• Market segment
• Start on day 1
• Select your methods
• Be creative
• www.mcmillantech.co.uk