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Marketing Strategies and Plan Development

Marketing Strategies and Plan Development “From the Lab to the Marketplace” 12/8/04 Ed Stukane Next Level Strategies, LLC Marketing…is about “The Market” It’s NOT about: Advertising PR E-marketing A Web site Or other tactics It’s more about… Demand! Who has it?

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Marketing Strategies and Plan Development

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  1. Marketing Strategies and Plan Development “From the Lab to the Marketplace” 12/8/04 Ed Stukane Next Level Strategies, LLC

  2. Marketing…is about “The Market” It’s NOT about: Advertising PR E-marketing A Web site Or other tactics It’s more about… Next Level Strategies

  3. Demand! • Who has it? • How deep is it? • Where is it located? • What is influencing it? • Who’s addressing it now? • How is it most efficiently satisfied? Next Level Strategies

  4. Who Wants Your Product and Why?Conduct a Demand Analysis • Market size? You need to understand product potential • Don’t say, “We need only 1% of the $Billion sized market, to achieve…” • What insights do you have into the decision making process • What don’t you know? What are the challenges to a sale? • How will you get the information? Next Level Strategies

  5. Market Research • Primary, going directly to your prospects to gain insights into purchase potential • Secondary – online, industry analysts, editors • Trade organizations Consider establishing an advisory board Next Level Strategies

  6. Know the Buyer Profile, Know His Motivations • Start with titles, but go deeper • What are their pain points? • What are they dealing with in their busy day? • How is their success determined? • How will you improve that? • B-to-B selling success has become dependent on a consultative sell, not a product sell. Next Level Strategies

  7. Plan for A Great Marketing ROI • If you “really” know your customer, you can: • Set priority values to them • Weight your sales and communications efforts accordingly, i.e., more impact, greater frequency of follow-up, etc. • Dynamic management of customer database. Move targets into different categories for sales efficiency. Next Level Strategies

  8. Know the Competition • Not just who they are but how they’re positioned and thought of • How will you sell against them, if you’re asked? • Determine what “market-space” you will own • This is the space you will seek carve out and defend Next Level Strategies

  9. Define the Competitive Landscape.What Space Will You Own? Tech Improvement Your Newco ABC DEF Ability to Deliver HIJ XYZ What’s your opportunity? Next Level Strategies

  10. What’s the Estimated Sales Cycle? • Longer terms effect cash-flow • Is the “low-hanging fruit” the profitable business? • Becoming defined by the business you seek • Pitch-to-conversion ratio. How many prospects might you need to see before closing a sale? Investors want to know how long it will take before the revenue flows more consistently. Next Level Strategies

  11. Sales Channels, Find the Right Fit • Keep costs in line as you seek to sell • Direct sales vs. channel partners. Direct means overhead, but you get dedication. • If channel reps, need to keep stimulated. Channel management is another job. Next Level Strategies

  12. What is Your Brand All About? • Even a sole proprietor has a brand • What will you say to concisely communicate what you stand for? • The expectation I should have • The “promise” that you represent? Next Level Strategies

  13. Your Elevator Pitch • The questions posed: “So what do you do and why should I be interested?” • Not your title and explanation, but a benefits oriented response that leaves them wanting to know more • 20 seconds to capture someone’s imagination Next Level Strategies

  14. Positioning & Messaging Positioning addresses your uniqueness, your differentiating factors, and the reasons why I should do business with you. Messaging addresses the 3-4 things you always need to communicate no matter with whom you’re speaking. Next Level Strategies

  15. Promoting Your Product Determine by the breadth of customer base, target number of sales, competitive environment, sales structure, ability to follow-up, desired impact and budget. • More targeted the better; E-marketing and direct marketing. Build your database and work it. • Advertising in vertical publications; trade shows • Public relations, sell the credibility story • Channel support, what do they need to sell? Next Level Strategies

  16. Use Your Web Site for Sales Support • Documentation that can be downloaded • Case histories and testimonials • White papers to address trends and your positioning to leverage them • Sales collateral, brochures, etc., that can be viewed, downloaded and printed. • Keep costs in line, but don’t skimp on quality. Next Level Strategies

  17. Challenge Multi-year Sales Projections • Work through pricing models • Will your marketing expenses change dramatically year-to-year? • Will you be able to broaden the sales efforts in year 2 and beyond • Will the market for your product be increasing in coming years? Will new government regulations have an impact? Next Level Strategies

  18. Because You Built It, Will They Come? Successfully, commercializing technology requires: • Understanding market demand • Gaining insights in your prospect’s profile • Seeking a marketing ROI based on customer value • Striving for a balanced sales structure • Cost efficient allocation of your marketing dollars • Monitoring, tracking and making program adjustments dynamically. Next Level Strategies

  19. Thank You! Next Level Strategies, LLC Ed Stukane Ed@nextlevelstrategies.com

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