Create Your Marketing and Communications Plan SCORE South Palm Beach

palmbeach.score.org 1 Welcome

Please take 1-2 minutes to share your:​

*Name​

*Business​

*What you would like to learn from this workshop?

palmbeach.score.org Your Presenter Wolfgang H. Kurpiers SCORE Certified Mentor E-Mail: [email protected] 561-981-5180

palmbeach.score.org Agenda

• Importance of Business and Marketing Plans • What does a Business Plan Include? • Creating Your Business’s Marketing Plan • How can SCORE Help? Mentoring and Workshops! • Complete Survey & Closing statements

palmbeach.score.org Create Your Communications and Marketing Plan

palmbeach.score.org Business Plan Importance

• Encourages an objective view • Becomes foundation for planning • Powerful management tool • Communicates your business ideas • Gives you a road map to build or grow your business • Provides a methodology for growing your business • Provides a “living” document as your changes grows • Gives you a tool to use for bank loans or investors Business Plan Includes:

A. Executive Summary B. General Company Description C. Products and Services D. Marketing Plan E. Operations Plan F. Management and Personnel G. Business Financial Statement, Analysis and Plan H. Refining the Plan • Quarterly • Bi-Annually • Yearly updates palmbeach.score.org 7 Create Your Communications and Marketing Plan

palmbeach.score.org Marketing Plan Includes:

Step 1: Review the Market Step 2: Define Your Target Customer Step 3: Identify Your Business Goals Step 4: Identify Your Strategies & Tactics Step 5: Prepare Budget Step 6: Available Resources

palmbeach.score.org 9 Step 1: REVIEW THE MARKET

Do you have a good location? Do you have presence for an online business? What are your Competition's weaknesses – can you take advantage of this? Do you have legal requirements or statutes that impact or change your business?

palmbeach.score.org 10 Step 1: REVIEW THE MARKET

What are your competitions’ weaknesses? What products and services do you offer? Is there a demand for your product? Is your product new or does it already have a distinct market advantage ? Do you have brand recognition?

palmbeach.score.org 11 12 Step 1: REVIEW THE MARKET

Competitive Analysis

Analyze the marketing methods used by your competition.

Would similar methods work for you?

palmbeach.score.org Compare your business to others in your area The Business Intelligence Tool can help you compare your business to others in your industry, both locally and nationwide.

Revenue Year Started Salary Employees Cost Effectiveness Revenue Per Capita Local Turnover Healthcare Cost Workers’ Comp

See how other businesses are performing – stay competitive. palmbeach.score.org Step 2: Your Target Customer

Who is your customer?

palmbeach.score.org 14 Step 2: Your Target Customer

 Who is your customer?  Who are your FUTURE customers?  What motivates customers to buy from you?  Differentiate your business from competition!!

palmbeach.score.org 15 Step 2: Your Target Customer Demographics

Age Gender How does your customer purchase your product? Where do your customers get their information about your business?

palmbeach.score.org 16 Step 2: Your Target Market

Market Research

Understand your target market • Size • Income level (consumer) • Sales (business) • Purchasing habits • Demographics • Purchasing channels • Geographic location palmbeach.score.org Producer Sales Channels

• Your business model may be to sell through just one channel e.g. through a website, direct to consumers. • Alternatively, you may decide to also sell via distributors in remote parts of the country. Step 2: Your Target Market

Where do you find this information?

• Google it and Google it.. • Websites • SBA • Government sites. • City and county information

palmbeach.score.org Step 3: Your Business Goals

palmbeach.score.org 20 Step 3: Your Business Goals : Update your Business Plan !!

Goals should be: Sensible Measurable Achievable Realistic Time Specific palmbeach.score.org 21 Step 4: Your Marketing Strategies and Tactics

Have Your Business Needs Changed?

 Target customers • Existing customers • New customers  Product or service mix  Price point  Budget  Sales channel

palmbeach.score.org Step 4: Your Marketing Strategies and Tactics

palmbeach.score.org Marketing Methods & Tools:

1. Online: website, newsletter, emails, mobile, rating and review sites, APPS 2. Social Media: social networks, geographical location sites, group deal sites 3. Advertising: radio, TV, newspaper, magazine, direct mail, yellow pages, online 4. Public Relations (PR): print, radio, TV, online 5. Collateral: business cards, tri-folds, stationary, flyers

palmbeach.score.org Step 4: Your Marketing Strategy and Tactics

Is Your Brand Clear? Branding is not the same as marketing. Branding is the image, logo and positioning of the product or service.

3 steps to brand creation: 1. Identify unique selling proposition 2. Understand target market 3. Communicate brand consistently palmbeach.score.org 26 Websites

Benefits of a Business Website

• Builds awareness • Helps customers find you • Builds credibility • Drives sales • Customer service • Additional sales channel • National/global reach • E-commerce

palmbeach.score.org 27 Websites

Elements of Your Website

• Domain name or URL (www.yourbusiness.com) • Web hosting service • Website design

Many providers offer package options that include all three:

• GoDaddy.com . Wordpress • IMSMB.com • NetworkSolutions.com • Web.com

palmbeach.score.org 28 Internet

The new 2018 Global Digital suite of reports from “We Are Social” and “Hootsuite says:

 There are now more than 4 billion people around the world using the internet.

 Over half of the world’s population is now online

 Nearly a quarter of a billion new users came online for the first time in 2017

palmbeach.score.org 29 Websites: SEO

Search Engine Optimization

SEO = driving traffic to your site via organic search results

• Create quality content

• Use targeted keywords

• Measure results palmbeach.score.org 30 Digital Marketing

E-mail Marketing

Ways to get e-mail addresses: • Opt in • Sign up in-store • Offer incentives • Privacy policy

Rupa Bihani Shah E-mail examples: • Newsletter (monthly, weekly, daily) • Sales or specials: Weekly or as needed • Announcements • Event invitations

palmbeach.score.org 31 Mobile Marketing

Mobile Marketing Mobile marketing = using cell phones and other mobile devices to market to customers • 98 percent of U.S. population owns a mobile phone* • 2011 – 35% Smart Phones * • 2017 - 77% Smart Phone * Pew Research palmbeach.score.org 32 Mobile Marketing

Mobile Marketing Methods

• SMS or MMS marketing: Text or photo messages sent to customers’ phones • Mobile banner advertising: Banner space on a site that is mobile- device-ready • Mobile local search: Having your business pop up when someone is looking for a local business • Mobile apps: Creating a smartphone application to promote your business • Mobile paid search: Top 4 paid results show up • Is your site mobile-friendly? Check at mobiReady.com palmbeach.score.org 33 Mobile Marketing

CREATING YOUR OWN APP

• Apps are made for iPhone, Android, Blackberry, Windows Mobile, tablets • Mobile Development is the biggest growth sector of web development • In 2017: – June 2016 - Android - 2.2 million apps available/downloaded, – Apple - 2.0 Million apps available and over 60 billion apps downloaded. – Mobile digital time in the US is 51% compared to desktop (42%) – Your business needs a mobile marketing strategy – 90% of mobile media time is spent from an app • Apple APPs: 60,000 are added per month palmbeach.score.org Future of APPS

Your customer’s Smartphone is their PC Billions of Apps Downloaded:

2021

2017 352.9

2016 197 149.3

palmbeach.score.org Social Media and Marketing Your Business

Social Media Stats  World population – 7.2 billion  Internet Access - 4 billion  Use Social Media – 1.7 billion  USA – population 325 million  USA – 76% use social Media

How will you use Social Media to market your business?

palmbeach.score.org Step 4: Your Marketing Strategy and Tactics

palmbeach.score.org 36 Eight Categories of Social Media

1. Relationship Networks: Connect People with shared interests  Facebook, LinkedIn, Twitter 2. Media Sharing Networks: Images are the main focus  YouTube, Flickr, Instagram 3. Online Review: User Reviews carry weight Yelp, Urbanspoon

palmbeach.score.org Eight Categories of Social Media

4. Discussion Forums: Places to share collective knowledge  Reddit 5. Social Publishing Platforms: Long & short form written content can be shared  WordPress, Tumblr, Vistaprint,etc. 6. Book Marking: Sites: Users collect content from elsewhere on the internet and save it to their account on the platform  Pinterest palmbeach.score.org TOP 3 MARKETING TOOLS

palmbeach.score.org 40 Social Media Marketing

Social Media Time Commitment: Engagement!

• Time requirements

• Management of updates

• Frequent changes required

• Learning curve for effective use

• Deciding what is appropriate for the media palmbeach.score.org 41 STEP 5: YOUR BUDGET

What are your marketing expenses?

 Create and Develop tools  Keep updated  Engagement  Distribution

palmbeach.score.org 42 Evaluating Your Business

Return on Investment

Always assess your ROI for your marketing budget

• Set measurable goals • Measure results – Marketing effort that generated the sale – Survey customers • Adjust marketing plan accordingly

palmbeach.score.org 43 The Five W’s and an H

1. Who is my customer? 2. What is my customer looking for? 3. When do I publish? 4. Where should I promote my business? 5. Why should my customer do what I want? 6. How Will I measure success?

https://www.toprankblog.com/2017/04/guide-content- marketing-strategy/

palmbeach.score.org 44 Marketing Resources

• American Advertising Federation (www.aaf.org) • American Express OPEN Forum (www.openforum.com) • American Marketing Association (www.ama.org) • Direct Marketing Association (www.the-dma.org) • Larry Chase’s Web Digest for Marketers (www.wdfm.com) • Marketing Hub (www.marketinghub.com) • Marketing Plan Pro (www.paloalto.com) • Marketing Profs (www.marketingprofs.com) • Marketing Research Association (www.mra-net.org) • Marketing Sherpa (www.marketingsherpa.com) • Mobile Marketing Association (http://mmaglobal.com) • Radio Advertising Bureau (www.rab.com) • SCORE (www.score.org) palmbeach.score.org 45 Summary • Success: Create your Business Plan • Success: Create your Marketing Plan • Success: Know your customer • Success: Differentiate your business • Success: Set your Marketing priorities • Success: Customer service and retention are important and more cost-effective than finding new clients

palmbeach.score.org Visit the WellsFargoWorks.com website Find relevant and actionable information from business experts and fellow business owners on a variety of business topics.

Topics: •Planning for every stage of a business’ lifecycle •How to write a sound business plan •Effective marketing and cash flow strategies •How to build and access credit •Keeping track of the competition •Managing day-to-day responsibilities

Optimized for mobile access

More resources are at your fingertips – visit wellsfargoworks.com. palmbeach.score.org WHAT’S NEXT ?

• Create Your Marketing Plan

• Create your Business Plan

• Attend SCORE Workshops

• Sign up for a SCORE mentor

Visit www.southpalmbeach.score.org for more information about other SCORE resources

palmbeach.score.org COMPLETE SURVEY

COMPLETE SURVEY!

THANK YOU!

palmbeach.score.org Thank you! We Wish you great success! South Palm Beach SCORE 7999 N Federal Highway, Suite 201,Boca Raton FL 33431 Tel: (561) 981-5180 Fax: (561) 981-5391 palmbeach.score.org 49