Marketing Planning Best Practices for Construction - Webcast
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Marketing Planning Best Practices for Construction - Webcast. 2011 Marketing Outlook/Trends October 15, 2010. Welcome. Today’s Speaker: Neil Brown Chairman Construction Marketing Association [email protected] Agenda – Marketing Planning.

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Marketing planning best practices for construction webcast

Marketing Planning Best Practices for Construction - Webcast

2011 Marketing Outlook/Trends

October 15, 2010


Welcome

Welcome

Today’s Speaker:

Neil Brown

Chairman

Construction Marketing Association

[email protected]


Agenda marketing planning

Agenda – Marketing Planning

Why Marketing Planning is Important?

The three (3) types of marketing plans

How to establish marketing budgets

A marketing planning checklist

Results of the 2011 Marketing Outlook survey


Marketing planning

Marketing Planning

Why is Marketing Planning Important?

  • Most construction categories have declined in this recession

  • Measuring and reporting results a top priority

  • Marketing budgets/spending being scrutinized more than ever

  • Marketing effectiveness, efficiencies key

  • Seat-of-the-pants marketing not cutting it


Marketing planning1

Marketing Planning

3 Types of Marketing Plans

  • Project or functional marketing plans

  • Tactical marketing plans

  • Strategic marketing plans

  • Note that business plans can have a marketing portion (which tends to be strategic)


Marketing planning2

Marketing Planning

Project or Functional Marketing Plans

  • Project plans identify and detail steps, schedules, objectives, measures, budgets for a specific project.

    • New Website development and launch

    • Email campaigns to vertical trade contractors

  • Functional plans focus on groups of activities

    • Advertising/media plan/schedules

    • Trade show plan

    • Publicity plan


  • Marketing planning3

    Marketing Planning

    Tactical Marketing Plans

    • Complete marketing activity plan with schedules or calendar, budgets

      • Consolidated project plans

  • NO strategy, research, situation analysis, etc.

  • Identifies, details ALL marketing programs, initiatives, campaigns

  • Could be as simple as a spreadsheet


  • Marketing planning4

    Marketing Planning

    Strategic Marketing Plans

    • Longer time frame (typically 3-5 years)

    • Analysis and research support (segmentation, positioning, primary research, competitive analysis)

    • Possible financial analysis, projections, capital spending, measures

    • Updated annually


    Marketing planning5

    Marketing Planning

    Marketing Budgeting – 3 Types

    • Percentage increase or decrease (vs. prior year budget)

    • Task and objective

    • Percentage of sales

    • Combination of above


    Marketing planning6

    Marketing Planning

    Marketing Budgeting – 3 Types

    • Percentage increase/decrease vs. prior year budget

      • Most common

      • Easiest, rubber stamp, less common in today’s economy

  • Task and objective budgeting

    • Sometimes called zero-based budgeting

    • Appealing as budgets relate directly to activities

    • Easy with detailed tactical or functional plans

  • Percentage of sales

    • Compare to competitors, industry benchmarks

  • Combination of above (consider all types, hybrid)


  • Marketing planning7

    Marketing Planning

    Marketing Budgeting – Competitive Benchmarking


    Marketing planning8

    Marketing Planning

    BACKGROUND (cont’d)

    d. Competitors

    i. Market share

    ii. Branding/positioning

    iii. Key marketing initiatives

    iv. Intelligence

    e. Prior Marketing Programs and Results

    i. Sales

    ii. Inquiries/sales leads/new customers

    iii. Website traffic statistics (Google analytics, host stats)

    iv. Other measures

    Marketing Planning Checklist

    BACKGROUND

    a. Company or brand

    i. Historical sales, margins, volume

    ii. Economic drivers (macro)

    iii. SWOT analysis

    b. Market Analysis targets

    i. Market sizing

    ii. Market segmentation

    iii. Customer identification (incl. demographics)

    iv. Channels of distribution

    iv. Sales process (incl. cycle)

    c. Market Research

    i. Secondary research (internet, assoc., publications)

    ii. Syndicated research (Dodge Reports, Reed Construction Data, EDA, other)

    iii. Primary research (surveys, interviews, focus groups)


    Marketing planning9

    Marketing Planning

    Marketing Planning Checklist

    OBJECTIVES

    a. Sales (Revenue, Volume, Margin)

    b. Market share

    c. Other measures (ROI, payback, breakeven)

    STRATEGIES

    a. How to achieve objectives, not specific tactics

    i. New products

    ii. New markets

    iii. Promotions

    iv. New Programs

    v. Customer initiatives


    Marketing planning10

    Marketing Planning

    TACTICS (cont’d)

    c. Advertising

    i. Media (research, planning, contracts, traffic)

    ii. Print (trade publications)

    iii. Online (banners, directories, Google AdWords)

    iv. Broadcast (TV, radio)

    b. Publicity

    i. News releases

    ii. Press list

    iii. Press kit

    iv. Press events

    v. Article (writing, placement)

    vi. Media relations

    vii. Distribution (internet, wire service)

    Marketing Planning Checklist

    TACTICS

    a. Branding

    i. Re-branding

    ii. Naming

    iii. Identity

    iv. Sub-branding, trademark registration, identity standards

    b. Internet

    i. Website development, re-development, microsites, landing pages

    ii. Search engine optimization (SEO), search engine marketing (SEM)

    iii. Social media (profiles, content, blog and forum posts)

    iv. Email campaigns (landing pages, registration forms)

    v. Webcasts, webinars, web conferences


    Marketing planning11

    Marketing Planning

    TACTICS (cont’d)

    h. Channel Marketing

    i. Dealer or distributor programs

    ii. Promotions

    iii. Merchandising support, POP, packaging

    iv. Training programs

    v. Launch kits

    vi. MDF or Co-op programs

    i. Direct Marketing

    i. Direct mail

    ii. Database marketing/Lead Management

    iii. List procurement

    iv. Email, Webcasts

    j. Photography and video (supports above tactics)

    Marketing Planning Checklist

    TACTICS (cont’d)

    e. Sales Promotion

    i. Programs

    ii. Training

    iii. Contests, coupons, sweepstakes

    f. Collateral

    i. Brochures, product sheets, flyers

    ii. Catalogs, manuals, instructions, installation

    iii. Educational content (white papers, guides, etc)

    g. Trade Shows and Events (nat’l, intn’l, regional, local)

    i. Exhibit design

    ii. Booth graphics

    iv. Pre-show promotion

    v. Lead management


    Marketing planning12

    Marketing Planning

    TACTICS (cont’d)

    h. Channel Marketing

    i. Dealer or distributor programs

    ii. Promotions

    iii. Merchandising support, POP, packaging

    iv. Training programs

    v. Launch kits

    vi. MDF or Co-op programs

    i. Direct Marketing

    i. Direct mail

    ii. Database marketing/Lead Management

    iii. List procurement

    iv. Email, Webcasts

    j. Photography and video (supports above tactics)

    Marketing Planning Checklist

    TACTICS (cont’d)

    e. Sales Promotion

    i. Programs

    ii. Training

    iii. Contests, coupons, sweepstakes

    f. Collateral

    i. Brochures, product sheets, flyers

    ii. Catalogs, manuals, instructions, installation

    iii. Educational content (white papers, guides, etc)

    g. Trade Shows and Events (nat’l, intn’l, regional, local)

    i. Exhibit design

    ii. Booth graphics

    iv. Pre-show promotion

    v. Lead management


    Marketing planning13

    Marketing Planning

    Getting started

    • Review prior years plans

    • Solicit input on changing customer and market conditions

    • Use marketing plan templates or spreadsheets

    • Do competitive and industry analysis and benchmarking

    • Review 2011 Marketing Outlook survey results!


    Marketing planning best practices for construction webcast

    2011 Construction

    Marketing Outlook


    2011 marketing outlook

    2011 Marketing Outlook

    September survey through SurveyMonkey, results from a statistically relevant sample

    2011 Budget Outlook (increasing/decreasing/same)

    What is most important marketing priority for 2011?

    Which marketing tactics will increase in 2011?

    Which tactics will decrease in 2011?

    Company type or classification


    2011 budget outlook

    2011 Budget Outlook

    For the coming fiscal year, do you intend to:

    • Increase marketing activities and budgets?

    • Decrease marketing activities and budgets?

    • Stay the same as this fiscal year?


    2011 marketing priorities

    2011 Marketing Priorities

    What is the most important marketing priority for 2011?


    2011 marketing tactics

    2011 Marketing Tactics

    What marketing tactics will increase/decrease for 2011?


    2011 marketing tactics1

    2011 Marketing Tactics

    What category or classification best describes your company?


    Marketing outlook summary

    Marketing Outlook – Summary

    • For the coming fiscal year, do you intend to increase or decrease marketing activities and budgets?

      • 65% plan to increase marketing activities and budgets

      • 23% plan to decrease marketing activities and budgets?

      • 12% plan to stay the same

  • What is most important marketing priority for 2011?

    • Measuring results #1 priority (21%), budgeting at 8%

    • Internet #2 (17%) including websites, SEO and Social Media

    • Implementing marketing programs (14%) and sales leads (11%)

    • Advertising and PR lower priorities (3% each)

  • Which marketing tactics will increase/decrease in 2011?

    • Almost all to increase Internet, Social Media and PR

    • Trade shows decreasing for majority, advertising equal

  • Company type or classification

    • Majority architectural, engineering, construction (AEC) firms

    • Building materials, home builders, remodelers, equipment


  • Marketing planning best practices for construction webcast

    Q&A


    Thank you

    Thank You!

    The Construction Marketing Association (CMA) is a network of marketing managers and executives in construction-related fields. CMA provides professional development and training, resources and information, networking and recognition.

    Find us:

    www.ConstructionMarketingAssociation.org

    www.ConstructionMarketingBlog.org

    Twitter.com/ConstructMarket

    Facebook.com/ConstructMarket

    LinkedIn.com (Construction Marketing Association Group)

    Next Webcast: Measuring Marketing Results

    November 15, 2010


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