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Marketing & Branding

Marketing & Branding. Positioning Your Firm for Growth. What is Branding?. Your promise to your customer. It tells them what they can expect from your products or services. It differentiates your offering from other options.

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Marketing & Branding

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  1. Marketing & Branding Positioning Your Firm for Growth Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  2. What is Branding? • Your promise to your customer. • It tells them what they can expect from your products or services. • It differentiates your offering from other options. • It’s derived from who you are, who you want to be and how you want to be perceived. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  3. What’s the Purpose of Branding? • To increase a target audience’s likelihood to purchase now and in the future. • To saturate positive characteristics into your marketing proposition. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  4. What Branding is Not • It’s not about your logo. • It’s not about always using the same colors. • It’s not a jingle or a physical thing. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  5. Branding is Like a Chess Game • You always have to be thinking a few steps ahead. • You begin to see the market differently. • You start to understand your position, your competitors position and where your customers are heading. • http://www.youtube.com/watch?v=l5BnnBOLOUU Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  6. What Products/Services Am I Selling? • Exercise 1 Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  7. Branding is About Planning Your Customer’s Experience • It’s about thinking with the end in mind. • Asking where are we now? • Where can we be and how do we get there? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  8. Need for Your Product/Service • Some products and services create an awareness of the need they solve. • http://www.youtube.com/watch?v=P1mlJPb1l6s Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  9. Solving a Problem With Your Product or Service • Is your product/service being considered by people as a way of filling a need? • The customer may know they have a need; they may even be aware of your products. But are they considering you? • http://www.youtube.com/watch?v=zM1IFIe1z5U Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  10. Are you Attractive? • Do you know why your offering is attractive and to whom? • Every moment someone spends with your product or service is part of your relationship building—your branding. • Is your relevance to your customer increasing or decreasing? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  11. Marketing is a Battle for a Share of Your Customer’s Wallet • Can your prospect find you easily when they’re searching? • How can you out value your competition? • Where do your prospects turn to get information to make an informed purchasing decision? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  12. What Makes Buyers Choose? • Can you better help customers like what they get? • Can you help them appreciate the value? • http://www.youtube.com/watch?v=yXTJhVBqWOM Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  13. The Sales is not the Endgame • Your sale is the beginning of a sustainable business relationship. • Guide them to buy: • help them use your product/service for maximum effect; • Help them appreciate the results/experience with your product or service; • Suggest their next purchase. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  14. Why They Buy • Exercise 2 Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  15. What Problem Do You Solve? • If you can describe the problem that you solve from your customers viewpoint, that will go a long way towards building a relationship that leads to repeat purchases. • Exercise 3. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  16. Defining Value Features, Benefits and Value Types Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  17. Know the Difference Between Features and Benefits • Features = What a product is; attributes (Described with an adjective followed by a noun) • Benefits = What a product does; Answers the question: “How will it help me?”; (Uses a verb followed by a noun) Adapted from: The Science of Sales Success; Josh Costell; AMACOM Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  18. Example: New Home Features Benefits • Close to shopping • Good school district • 14k gold bathroom fixtures • Save time traveling • Develop smart kids; Save money on private school tuition • Impress your friends Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  19. Example: Banking Services Features Benefits • Online banking • Free checking • Large branch network • Manage your account easily • Save money • Access money anywhere Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  20. Perceived Value • Customers use emotions, prejudices, preferences, and experiences to assign value to benefits. • Benefits with perceived values are hard to prove or disprove. • http://www.youtube.com/watch?v=fF3G7vdM2UI • http://www.youtube.com/watch?v=rRPyvS1TPKQ&feature=related • Benefits with perceived value can have perceived dollar amounts attached to them. The “better” taste of one drink might be worth more than the perceived value of another. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  21. Measurable Value • Customers use objective data to assign value to benefits. • When benefits have measurable value, they require more efforts to calculate their worth. • Once calculated, the benefits of measurable value are easy to prove and to sell. • http://www.youtube.com/watch?v=8TwaTRslsbE Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  22. Features, Benefits, and Value Types Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  23. Customer Buying Process 6 Steps Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  24. Step 1: Problem/Need Recognition/Desire • Your goal: Get their attention. • Tools you use: PR, advertising. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  25. Step 2: Information Search • Your goal: Gain their interest, determine their needs, emphasize your strengths. • Tools you use: SEO, Information rich websites, white papers, direct mail, news releases with keywords, faxback system. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  26. Step 3: Evaluation of Alternatives • Your goal: Stimulate their desire. • Tools you use: Seminars, webinars, a compelling offer. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  27. Step 4: Purchase Decision • Your goal: Get them to take action. • Tools you use: Deadlines, limited availability, guarantees, ask for action. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  28. Step 5: Purchase • Your goal: Make it easy to buy from you. • Tools you use: Credit cards, online purchase, in-bound 800 number, payment terms. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  29. Step 6: Post-Purchase Evaluation • Your goal: Ensure satisfaction, up-sell, cross-sell and get referrals. • Tools you use: Surveys, coupons, service calls, letters, articles. • Exercise 6 • Using the personas you created last time, map the buying process for your product/service to your potential customer. Adapted from: Call to Action, Bryan & Jeffrey Eisenberg, Wizard Academy Press Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  30. Make Them an Offer They Can’t Refuse Apologies to the Godfather Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  31. The Offer • The offer is the single most effective tool for driving up response. • The offer isn’t your product; it’s an incentive to help your prospect overcome inertia. Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  32. Your Offer Needs to Appeal to Basic Human Desires • Is it unique, exclusive or highly valuable? • Does your offer provide info that makes the prospect feel smarter, save time, save effort, save money, avoid hassles, worry or concerns? • Is the offer useful, attractive, or prestigious? • Does your offer give them something highly desirable for free? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  33. Offers That Increase Response Rates Business Offers Consumer Offers • Free guides, books, white papers, checklists • Free self-assessments or evaluation tools • Free demo disk • Free audits • Additional free support or training • Guarantees • Sweepstakes • “How to” guides • Free accessory to product • Free shipping/delivery • Gifts • Additional product, Extended warranties • Guarantees • Sweepstakes Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  34. What Kind of Offer to Make? • Use educational offers for products with a long sales cycle. • Mortgage: “How to” DVD on the home buying process. • Cosmetic dentistry: “The Facts About Bonding” booklet. • Use price oriented offers for products with a short sales cycle. • Magazine subscription: “6 free issues” • Clothing: “free alterations” Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  35. Calculations Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

  36. How Much Should You Spend to Get and Keep Customers? Instructor | Lloyd C. Grant | The KIP Business Report | 646.926.3992

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