Marketing - Business Ownership CCBC March 2019

Sales & Marketing for
Business Owners
SPRING 2019
SHARON MOSTYN
MOSTYN MARKETING GROUP
SMOSTYN@MOSTYNMARKETING.COM

Spring 2019Business Ownership – CCBC
2Sales & Marketing Are Not The Same
https://cdn2.hubspot.net/hubfs/4808822/Challenger-UncommonCX-Sales.pdf

Sales
• SALES METHODOLOGY
• SOLUTION SELLING
• SALES FUNNEL & PIPELINE
3

Psychology of Sales
u “People buy from people that they know, like, and trust.” – Bob Burg (or Chris Brogan or
Joel Comm)
u Harvard Business Review article says selling is not about relationships
u Study of 6,000 sales reps across 100 companies in multiple industries
u 5 Sales Profiles – Challenger Sales Methodology
4
https://www.quora.com/Who-said-People-Do-Business-With-People-They-Know-Like-and-Trust
https://hbr.org/2011/09/selling-is-not-about-relatio

Challenger Sales Profiles
u Relationship Builders focus on developing strong personal and professional relationships
and advocates across the customer organization. They are generous with their time, strive
to meet customers’ every need, and work hard to resolve tensions in the commercial
relationship.
u Hard Workers show up early, stay late, and always go the extra mile. They’ll make more
calls in an hour and conduct more visits in a week than just about anyone else on the team.
u Lone Wolves are the deeply self-confident, the rule-breaking cowboys of the sales force
who do things their way or not at all.
u Reactive Problem Solvers are, from the customers’ standpoint, highly reliable and detail-
oriented. They focus on post-sales follow-up, ensuring that service issues related to
implementation and execution are addressed quickly and thoroughly.
u Challengers use their deep understanding of their customers’ business to push their
thinking and take control of the sales conversation. They’re not afraid to share even
potentially controversial views and are assertive — with both their customers and bosses.
5

High-Performing Sales Profiles
6
u Challengers dramatically outperform the other profiles, particularly Relationship Builders:

7Solution Selling
u Sandler Sales Methodology - Treats the buyer and seller as equally invested in the sales
process. Sandler reps are trained to address objections early, so valuable time is saved for
both parties. Instead of the seller convincing the buyer to make a purchase, in the Sandler
methodology, the buyer is almost convincing the seller to sell to them.
u Consultative Selling - An outgrowth of solution selling, consultative selling also became
popular during the 1980s. Consultative selling places the emphasis on the salesperson
becoming a “trusted advisor” to the customer, gaining authority and trust over time.
u Inbound Selling - The inbound sales approach is characterized by “attracting” buyers with
tailored, relevant content, instead of throwing irrelevant messages and advertising at them
and hoping they'll buy.
u Right Message
u Right People
u Right Time
https://www.sandler.com/our-approach/sandler-sales-methodology
https://blog.hubspot.com/sales/sales-process-

8Sales Funnel & Pipeline
https://fitsmallbusiness.com/sales-funnel/

9Sales Funnel & Pipeline
https://salesmanagement.org/blog/the-death-of-the-sales-funnel-a-new-reality-for-sales-organizations-part-2/

10B2C vs. B2B Funnels
https://trackmaven.com/blog/marketing-funnel-2/

Marketing
• MARKETING PLAN
• MARKETING OBJECTIVES
• PRODUCT MARKETING
• MARKETING STRATEGY
• COMPETITIVE ANALYSIS
• UNIQUE VALUE PROPOSITION
• MARKETING FUNNEL
• CONTENT MARKETING
11

12Marketing Plan Details
u The details of your marketing plan will vary based on the intent of your initiative and the
type of industry, but most plans share common elements. A typical marketing plan outline
will include the following:
u An executive summary or overview of the plan (with supporting documentation)
u A background analysis
u A mission statement
u A description of your target customers and their needs
u Clearly defined marketing objectives — consider creating SMART goals (specific, measurable,
achievable, realistic, time-bound)
u Marketing strategy, including 4 P’s - product, price, place (distribution), and promotion
u A SWOT analysis (strengths, weaknesses, opportunities, threats)
u An action plan
u Budget projections
u A method of evaluation, including both metrics and standards of performance
https://www.smartsheet.com/free-marketing-plan-templates-excel

134 P’s of Marketing
Price:
Costs & Margins
Product:
Function, Packaging, &
Services
Promotion:
Advertising, Sales, &
Publicity
Place:
Distribution channels &
logistics
Marketing
Strategy

14SMART(ER) Marketing Objectives
https://www.smartinsights.com/goal-setting-evaluation/goals-kpis/define-smart-marketing-objectives/
Letter Most Common Alternative
S Specific Significant, Stretching, Simple, Sustainable
M Measurable Motivational, Manageable, Meaningful
A Attainable
Appropriate, Achievable, Agreed,
Assignable, Actionable, Adjustable,
Ambitious.
R Relevant
Results Based, Results-Oriented,
Resourced, Realistic, Reasonable.
T Time-Bound
Timed, Time-Framed, Time-Specific,
Timetabled, Time limited, Trackable,
Tangible.
E Evaluate Ethical, Enjoyable, Engaging, Evidenced
R Reevaluate
Reviewed, Rewarded, Revisit, Recordable,
Rewarding, Reaching.

15Product Marketing Strategy
u A clear market position that distinguishes you from the competition
u Product pricing and packaging
u A marketing and promotion plan to help your sales channels succeed
u Analysis of customer response and keeping the product relevant
https://www.smartsheet.com/product-marketing-strategies-and-templates

16Product Marketing Growth Strategy
u Market Penetration: Your product marketing strategy focuses on increasing your market share and getting
existing customers to use more of your product.
u Market Development: Your product marketing strategy focuses on new audiences and communities with different
packaging and pricing.
u Product Development: By listening to your audience you stay ahead of your competitors, developing new and
innovative products.
u Diversification: Your product marketing strategy must clearly define your goals, since your current product is not
growing at the rate you need for business to flourish.
https://www.smartsheet.com/product-marketing-strategies-and-templates

17Marketing Plan Tips
u Define Your Budget Early
u Create realistic financial goals
u Set expectations around spending
u Identify any potential financial gaps
u Create some metrics and KPIs that are related to financial success
u Make sure you can realistically support any special offers, discounts, or rewards that you offer
u Build Brand Integrity By Defining Your Unique Value Proposition (aka Unique Selling Proposition)
u Differentiate your brand to ensure it is strong and stands out
u Understand Your Target Audience(s)
u Use Google Analytics or another engagement analysis platform to identify your audience(s) and
their behavior, and in order to know who you are producing content for, consider creating audience
personas.
u Learn your buyer’s purchase cycle — how, when, where, and why your customer base buys — and
the type of content they consume at each stage of the cycle.

18Competitive Analysis
u Use to establish what makes your product or service unique--and therefore what attributes
you play up in order to attract your target market.
u Place in strategic groups according to how directly they compete for a share of the
customer's dollar.
u Create a matrix of your competitors and their attributes compared to your company:
u Who are your competitors?
u What products or services do they sell?
u What is each competitor's market share?
u What are their past strategies? What are their current strategies?
u What type of media are used to market their products or services?
u What are each competitor's strengths and weaknesses?
u What potential threats do your competitors pose?
u What potential opportunities do they make available for you?
https://www.entrepreneur.com/encyclopedia/competitive-analysis

19Unique Value Proposition (UVP)
u Also known as a unique selling proposition (USP), your UVP is a clear statement that
describes:
u The benefit of your offer
u How you solve your customer’s needs
u What distinguishes you from the competition.
https://unbounce.com/conversion-glossary/definition/unique-value-proposition/
https://www.widerfunnel.com/how-to-create-an-awesome-value-proposition/
Focus!
PRO MARKETING TIP:
Your website landing pages
are the best place to test
your UVP alternatives to
see what resonates with
your target audience

20Step-By-Step Marketing Plan
u Step One: Identify Target Audience
u Step Two: Complete your SWOT Analysis
u Step Three: Develop Positioning Statement
u Step Four: Outline Intended Goals
u Step Five: Determine Your Target Market and Niche Audience
u Step Six: Identify Competitors Within Your Market
u Step Seven: Draft Your Brand Positioning Statement
u Step Eight: Alter Your Marketing Strategy as Needed

21Marketing Questions
u Ask yourself these two questions:
u “Who is my customer?”
u “What content can I create that will delight them?”
u Take those answers and then:
u Develop a strong marketing strategy
u Sell the benefits, not the features
u Create and maintain a brand presence
u Generate web traffic by crafting high quality content:
u Blogs
u Video
u eBooks
u White Papers
u Webinars
u Set benchmarks for success and track your metrics
Features:
What Something
IS or DOES
Benefits:
WIIFM: What’s In It
For Me (Your
Customer)?

22Marketing Funnel
https://trackmaven.com/blog/marketing-funnel-2/

23Marketing Channels In The Sales Funnel
https://blog.hubspot.com/marketing/content-for-every-funnel-stage

24Mapping Marketing Content To Sales
https://blog.hubspot.com/marketing/content-for-every-funnel-stage
https://www.salesforce.com/blog/2013/07/inbound-marketing-getting-started.html

Sales & Marketing theory is over…
Let’s get to the FUN stuff:
Marketing IMPLEMENTATION!
25

26Marketing Channel Types
u Affiliate and influencer marketing including referral and word of mouth
u Billboards and other outdoor advertisements
u Content marketing including websites, blogs, white papers, ebooks, checklists, native content
u Digital marketing including display advertisements
u Email marketing and marketing automation
u Event and trade show marketing including online events and webinars
u Point of purchase and in-store advertisements
u PPC - pay-per-click and other paid search advertisements
u Print advertisements including direct mail, newspapers, magazines, trade pubs, catalogs, printed
directories
u Public relations marketing
u Radio advertisements including podcasts
u SEO – Search Engine Optimization for Websites
u Social media marketing
u Television and online video advertisements
u Visual identity/branding
u Website
https://docs.google.com/spreadsheets/d/1z6gOxoDdjesZX0KURKizuVNZGSGDQaqHTZYPFOyo104/edit#gid=0

27Marketing Channels
https://blog.hootsuite.com/converged-media-brito-part-1/

28Marketing Channels
https://www.allbusiness.com/the-differences-between-paid-earned-owned-and-shared-media-4246-1.html

29Important Media Channels
https://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2018-reports/nielsen-cmo-report-2018.pdf
u How relevant are these media channels to your business?
u Where do they fall in your customer life cycle?

30Traditional Marketing Channels

31Digital Marketing Channels

32Perceived Media Effectiveness

33Ad Spend By Media Type

34Marketing Measurement By Media Type

35Understanding Campaign Objectives

36Analytics & Measurement
https://www.christopherspenn.com/2018/03/the-importance-of-3-buckets-of-digital-marketing-analytics/
Focus!

37Trust in Analytics
https://www.marketingcharts.com/customer-centric/analytics-automated-and-martech-107085

38Website Analytics For Growth
u Measure the Right Things and Always Be Optimizing!
u Define the problem or hypothesis, stakeholders and scope of analysis.
u Measure relevant data and conduct basic analysis to spot anomalies.
u Analyze correlations and patterns, put your statistics and visualization skills to work.
u Improvement based on insights and showing several options to explore.
u Control the change by deploying (A/B) tests and monitoring KPIs.
u Get to Know Your Visitors Well and Enhance User Experience
u Device breakdown: If a large section of your visitors are using mobile device, it’s a clear message
that you should make your site mobile-friendly.
u Language and location: You can see where most of your users are located and create translations
for your site if it’s required.
u Age and Interest Categories: When you identify the actual age and interest group as your larger
section of audience, you can customize your site so as to make it more useful to them.
u Focus on Your Best Content
u Determine exactly which content gets the most visits, average duration, and bounce rate for the
individual pages, so you can analyze, and optimize, for better engagement.
https://www.smartinsights.com/goal-setting-evaluation/web-analytics-strategy/top-10-strategies-turn-data-actionable-analytics/
https://www.monsterinsights.com/reasons-why-website-analytics-is-important-for-your-business-growth/

39Website Analytics For Growth
u Grow Your Site’s SEO
u The more organic traffic your business site receives, the more “free” leads and conversions it gains.
u Use analytics data to create targeted content and get better visibility on search engines.
u Create a off-page SEO backlink strategy by reviewing existing referral sources.
u Track Top Referrals to Increase Traffic
u Track sites that referred the most traffic to your site, analyze, and focus on strategies to gain more.
u Watch out for traffic spammers!
u Identify Outbound Links
u view the top links clicked on your website that go to other websites, analyze, and reach out to those
websites with partnership offers.
u Optimize Your eCommerce or Conversion Metrics for More Sales
u Monitor conversion rates and where they came from, where they landed on your site, etc.
u It’s important to know not only where the traffic comes from, but what they do on your website.
Sometimes high-volume traffic sources don’t have the targeted audience that will complete a
conversion.
https://www.monsterinsights.com/reasons-why-website-analytics-is-important-for-your-business-growth/

40Appendix: Google’s Marketing Toolbox
u https://www.thinkwithgoogle.com/tools/

Marketing - Business Ownership CCBC March 2019

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