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Marketing

FAMAS. Marketing. In The Real World Of An SME. FAMAS. FAMAS. Don’t Worry. If you want to see the slides again visit www.famas.co.uk. FAMAS. FAMAS. Frank Shaw Too young to be a GURU!. FAMAS. FAMAS. Relevance to us?. Last 8 years own consultancy FAMAS

Samuel
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Marketing

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  1. FAMAS Marketing In The Real World Of An SME FAMAS

  2. FAMAS Don’t Worry If you want to see the slides again visit www.famas.co.uk FAMAS

  3. FAMAS Frank ShawToo young to be a GURU! FAMAS

  4. FAMAS Relevance to us? • Last 8 years own consultancy FAMAS • Delivering results for SMEs mainly in Beds Bucks and Herts. Successes include delivering £3million extra profit on an £80 million turnover business in 6month project • Paid by results achieved • Focus on ideas that deliver real results rather than theory • Wycombe furniture knowledge • Includes Stewart Linford, Frank Hudson FAMAS

  5. FAMAS The Session Plan • A simple task • Develop an UNDERSTANDING of what MARKETING means in the real world • Based on Real Life examples including • Selling more by being more expensive • Providing services to the furniture industry • Any questions • Another simple task FAMAS

  6. FAMAS Why Bother with Marketing • Not essential - Survival is not compulsory • Survival and growth are based on profit and cash flow • Profit and cash flow depend on effective selling • Selling depends on Marketing FAMAS

  7. FAMAS Marketing Creating the environment for effective sales FAMAS

  8. FAMAS HOW IS IT DONE • Based on using common sense and a simple process • Identify your target market • Make your product attractive to them • Letting them know why it is good for them • Sounds easy – because it is if you are methodical FAMAS

  9. FAMAS Identifying your target • Know yourself and what you could offer • STRENGTHS and WEAKNESSES • Who would want your strengths but not be deterred by your weaknesses • Be imaginative • Develop OPPORTUNITIES • Be realistic • Identify the THREATS FAMAS

  10. FAMAS Making the Product Attractive • Focus on CUSTOMER BENEFITS including • Product/Service • Style and design • Soft factors • Value balance FAMAS

  11. FAMAS PRODUCT / SERVICE • Focus on customer benefits • Establish the priority of the benefits • E.g. Should durability outweigh ease of use? • Make the benefits visible • Avoid ‘anorak’ benefits • An expert would appreciate the complicated and expensive way I do this operation – but will your target market care? FAMAS

  12. FAMAS STYLE AND DESIGN • Emphasise your key characteristics that your product will be recognised by • Make it easy for the customer by making what they want • Avoid the anorak syndrome FAMAS

  13. FAMAS SOFT FACTORS • All about perception • Designed for the rich and famous, I want it too – The Jubilee Chair was fit for the Queen • Special and rare - Crowded restaurant – lucky to be able to buy it at all – Limited Editions • Playing to your strengths and reputation FAMAS

  14. FAMAS VALUE BALANCE • Aligning the specification to your target market • Pricing • Over pricing kills interest • Under pricing damages credibility and kills the business • Be consistent • Deliver what you are charging for at every stage FAMAS

  15. FAMAS RECAP • We know what we are good at • We know who wants it • We know what it is • We know how to price it • All we have to do is let someone else know about it so they can buy it FAMAS

  16. FAMAS LET THEM KNOW • The best product in the world is useless unless people know how good it is • Manage the perception they have about you and your product • Be creative in getting yourself known FAMAS

  17. FAMAS THE MESSAGE • PROMOTE THE BENEFITS • Real • Functionality, durability, reliability • Perceived • Quality, style, service, exclusivity, ambiance, value, security • Drivers • Aspiration, snobbery, greed, recognition, belonging, acceptance FAMAS

  18. FAMAS DELIVERING THE MESSAGE • Pick up the phone • Text messages • Email • Keeping existing customers informed is particularly productive because they like your product so much that they bought it FAMAS

  19. FAMAS EXISTING CUSTOMERS • Know who your customers are • Records, response cards, guarantee registration, servicing • Encourage existing customers to find the next customer for you • Clearly brand your product for ease of identity • Gifts, cards and calendars that they are proud to display for you FAMAS

  20. FAMAS MEDIA ADVERTISING • Magazines, Newspapers, TV, etc • For hitting a lot of people quickly if you have the cash • Expensive unless well thought out • Research the relevant media carefully • BRAD • Negotiable FAMAS

  21. FAMAS LEAFLETS AND MAIL SHOTS • LEAFLETS/INSERTS • Can be finely targeted • Also used for reinforcing contacts • Ensure they reflect your values • MAIL SHOTS • Dependant on having quality addresses • 2% response considered a success • Good for motivating existing prospects and customers • Useful for testing at low cost FAMAS

  22. FAMAS NETWORKING AND EVENTS • NETWORKING • Being in the right place with the right people • Be realistic in differentiating networking from wasting time • Corporate identity • EVENTS • Shows, parties, demonstrations • Success is in the detail • Can be free or even revenue generating FAMAS

  23. FAMAS WEB SITES • Web Pages • Increasingly used • Potentially very cost effective • Easily modified and updated • Good for Testing • Search Engine Listings important • On line shoppers including E-bay • Avoid the anorak syndrome FAMAS

  24. FAMAS ASSOCIATION • Position your product to be seen in environments that bestow perceived values • Lend it to prestigious functions and events, sale or return in relevant outlets, give it to the right people. As seen on TV. FAMAS

  25. FAMAS PR • The media are pleased to give it away • Simple to do • Become newsworthy • Win Awards, Interesting products, Celebrations, Key Dates, Community support, Battle with Authority, Mix with celebs, Become a recognised expert, etc. • Virtually Free • People trust editorial more than paid advertising FAMAS

  26. FAMAS MANAGING FOR SUCCESS • Monitor results achieved to identify winners and losers • Continually improve product, message and medium • Develop and Test alternatives • Refresh SWOT and STRATEGY • Utilise resources FAMAS

  27. FAMAS SUMMARY • Clarify what you should be doing • Product features, target audience • Promote the benefits • Real and perceived • Manage and improve the process • Be alert and nimble FAMAS

  28. FAMAS WANT A COPY OF THESE SLIDES ? VISIT www.famas.co.uk FAMAS

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