Building a Foundation for Growth, Marketing (and Sales) Strategy

Growth Planning for Small and Midsized Companies

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Presented By:

Reed StithSenior Growth Advisor, Marketing and Sales

Presented By:

Sam WasylyshynManufacturing Support Specialist

Today’s Objective:

To provide a methodology for growing your business by

penetrating existing customersand attracting new customers

➢ Introductions and Today’s Objectives➢ Determining your Growth Strategy

➢ Business Value Creation➢ Growth Strategy, Marketing Elements, Sales Structure➢ Connecting Marketing to Sales

➢ How to Create Brand Clarity➢ Branding and Brand Messaging ➢ Understanding Who You Are➢ Understanding What, How and Why➢ Problems, Promises and Proof

➢ How to Align your Sales Structure/Process➢ How to Determine the your Ideal Customer➢ Customer Profiling➢ Buyer Personas/Buying Habits➢ MVC (Most Valuable Customer List)➢ New Prospect Development List

➢ Putting it All Together➢ Master Growth Strategy➢ Marketing Plan with Tactics➢ Sales Plan with Tactics

➢ Wrap-up and Individual Next Steps

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Agenda

Business Value =

Foundation + Operations + Growth

Growth Strategy

Operations Excellence

Value$

FoundationPeople, Processes, Product/Service,

Technology, Brand, Messaging, Vision, MVC, MVP

Profits/Business Value

Measurement Marketing

GrowthStrategy

Sales

CUSTOMER

VP of Marketing and Sales

VPs of Marketing and Sales oversee the entire lifecycle from strategy to execution

Business Growth Methodology/Process

Measure Marketing

Strategy

Sales

CUSTOMER

VP of Marketing and Sales

Growth Strategy

Pricing

Branding

Strategy

Planning

Research

Growth Strategy Breakdown

Measure Marketing

Strategy

Sales

CUSTOMER

VP of Marketing and Sales

Outbound Marketing

Inbound Marketing

Advertising

Publicity

Events

Sales

Internet

Social

Content

Direct

Marketing Breakdown

Measure Marketing

Strategy

Sales

CUSTOMER

VP of Marketing and Sales

Sales

Dealers

Distributors

Direct

Manufacturer Sales Reps

eCommerce

Sales Breakdown

Connecting:

Marketing to Sales

MarketingBrand Identity

• Company and/or Product

Market Messaging• To various segments - markets• To various channels – key players• To various functions – key personas

Market Research• What industry are you in• What are your target markets• Who are your target prospects• What are their unmet needs that you can solve• Who are you competing against, what are they saying

Market Strategies• New Markets : New Products/Services• New Markets : Existing Products/Services• Existing Markets : New Products/Services• Existing Markets : Existing Products/Services

Inbound Marketing• Website, Social Media, SEO, Blogs, Remarketing,

Adwords, PPC,Newsletters, Whitepapers

Outbound Marketing• Advertisements, Brochures, Calling Programs, Email

Blasts, Tradeshows, Press Release, Appreciation Events

SalesTraining the Sales Team

• Equip and Align Sales – roadmap marketing explains targets, buying process, FAQs, and differentiators

• Brand Identity and Messaging needs to be shared by all

• Ability to clearly communicate Problems, Promises, and Proofs of products/services

Sales Strategies (tied to Market Strategies)

• New Customer Attraction

• Existing Customer Penetration

• Existing Customer Recapture

Sales & Marketing Management• Restructuring – Who are the hunters; who are the

gardeners; who is the leader?

• CRM System – 360 view of customer; opportunity management

• Formalized Sales Process

• Measurements (KPIs)

• Management (Adjustments)

• Sustainment (Continuous Improvement)

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1. Internal brand discovery (Internal Discovery and Validation)a. Who you are…What you do…How you do it…Why you do it. b. Problems, Promises and Proofs

2. External brand assessment (External Discovery and Validation)a. VOC Survey b. Competitor Analysisc. Market Research

3. Creating distinctive brand statements (Define the "who," the "how" and the "why." Not the "what”)a. Value Proposition b. Marketing Messaging

Not to be confused with mission or purpose statements. Brand statements separate you from your competitors and make you a leader in your category.

4. Internal brand adoption (Develop the strategy for getting people to engage with the Brand) Once the brand is defined, strategies must be created to ensure everyone within the organization buys into the brand, believes in the brand, lives the brand and delivers brand expectations throughout all touchpoints. The internal adoption must be a success before the new brand can be promoted externally through marketing and public relations.

5. Operationalize the brand (Development & Deployment, Implementation Brand Awareness) Marketing & sales communications plans are developed in this stage to promote the new/enhanced brand to customers, vendors, channel partners, the supply chain community and other business partners.

Branding Manufacturers: From Inside/Outside

Five (5) Step Process:

Source: The Five Critical Steps of Brand Development for Manufacturers, Scott Seroka, principal, Seroka

What

How

Why

The Golden Circle

Core Purpose

Understanding What, How and Why?

What we do?

How we do it (differently)?

1)2)3)

Why we do it?

Do you Consider yourself a Product Owner/Innovator?Do you Consider yourself a Manufacturing Company?

ProofsHow do you back-up your promises?

Understanding Problems, Promises, and Proofs?

ProblemsWhat Problems do you solve?

What Problems do your products solve in the marketplace?

PromisesWhat do you promise the marketplace?

What do you promise your customers?

ChannelsDetermine optimal route to market

DevelopGo-to-

Market Plan2

Sales Force StructureOrganizational model effectiveness vs.

efficiency

Sales Force SizeMatch selling capacity to market demand

DesignSales Force3

Sales InfrastructureCreate performance conditions for optimal results

Build Infrastructure4

Account SegmentationSegment accounts by Ideal Customer Profile

Lead ManagementGenerate MQL/SAL/SQL

Sales ProcessMap customer/prospect buying process to custom built sales process

Develop Sales

Strategy

STEP

1

Sales Structure/Process

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Determine the Ideal Customer

Develop a Customer Persona Checklist (Rate and Rank MVC’s):

1. Financial & Market Characteristics➢ NAICS Code (Market or Market Segment)➢ Revenue $➢ % of Overall Revenue➢ Profit Margin➢ Rate the MVC (Future Growth, Risk, Payment History, Effort, etc.)

2. Customer Intimacy (How well do you know them)➢ What are their goals and objectives?➢ What are their pain points, challenges, problems or issues?➢ What is their size, structure, geography?

3. Buying Habits➢ What do they buy from you?➢ When do they buy from you?➢ What buying barriers do they encounter?➢ What are their buying cycles?➢ How else can you serve them?

4. Interests➢ What do they find entertaining and/or valuable?➢ How do they research information related to your business or industry?➢ Why do they do business with us / Why do we do business with them?

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Develop Focused Prospect Lists Most Valuable Prospects (MVP)

Tips to Consider:1. Start MACRO• Analyze Industry Reports

to determine market growth potential and geographic clusters

2. Break it down• 6 Digit NAICS searches

provide many industry subsections

3. Vet each Subsection• Determine what size

companies and where geographically you want to focus on

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Tips to Consider: (Vet each prospect to learn the following):➢ Location➢ Size➢ Customers and Industries Served➢ Products and Services➢ Value Propositions

Deeper Dive: Get to know the Prospect you are Pursuing

Develop Focused Prospect Lists Most Valuable Prospects (MVP)

Putting it all Together

• Master Growth Strategy

• Marketing Plan with Tactical Execution

• Sales Plan with Tactical Execution

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Putting it all Together

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Growth Strategy: Recapture, Retention, Penetration, Diversification• Recapture – Attract Past Customers• Retention – Keep Existing Customers Happy• Penetration – Do More with Existing and New Customers in Existing Markets• Diversification – New Markets with New or Existing Products/Services

Major Problems, Obstacles, and Threats Hard Mission Goals

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Solutions/Strategies Critical Success Factors

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Master Business Growth StrategyOverall Mission:

Putting it all Together

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Marketing Plan with Tactical Execution

Major Problems, Obstacles, and Threats Measurable Objectives

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Strategies Tasks

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Marketing Department Quad PlanMission:

MarketingBrand Identity

• Company and/or Product

Market Messaging• To various segments - markets

• To various channels – key players

• To various functions – key personas

Market Research• What industry are you in

• What are your target markets

• Who are your target prospects

• What are their unmet needs that you can solve

• Who are you competing against, what are they saying

Market Strategies• New Markets : New Products/Services

• New Markets : Existing Products/Services

• Existing Markets : New Products/Services

• Existing Markets : Existing Products/Services

Inbound Marketing• Website, Social Media, SEO, Blogs, Remarketing,

Adwords, PPC,Newsletters, Whitepapers

Outbound Marketing• Advertisements, Brochures, Calling Programs,

Email Blasts, Tradeshows, Press Release, Appreciation Events

Putting it all Together

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Sales Plan with Tactical Execution

Major Problems, Obstacles, and Threats Measurable Objectives

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Strategies Tasks

1) 1)

2) 2)

3) 3)

4) 4)

5) 5)

6) 6)

7) 7)

8) 8)

9) 9)

10) 10)

Sales Department Quad PlanMission:

SalesTraining the Sales Team

• Equip and Align Sales – roadmap marketing explains targets, buying process, FAQs, and differentiators

• Brand Identity and Messaging needs to be shared by all

• Ability to clearly communicate Problems, Promises, and Proofs of products/services

Sales Strategies• New Customer Attraction

• Existing Customer Penetration

• Existing Customer Recapture

Sales & Marketing Management

• Restructuring – Who are the hunters; who are the gardeners; who is the leader?

• CRM System – 360 view of customer; opportunity management

• Formalized Sales Process

• Measurements (KPIs)

• Management (Adjustments)

• Sustainment (Continuous Improvement)

Where to Begin?• Assess your Brand Image

– Is your brand up to date & does it truly define Who you are…• What you do• How you do What you do differently• Why you do what you do (Why do you truly exist, real reason for being in business)

– Do you know what problems you solve, benefits you offer (Promises) and evidence that you can deliver (Proofs)

• Have you or can you articulate into messaging that connects with your target audience

• Assess your website– Get your website scored (website.grader.com)– Visual Content, Info-Graphic, Style, Look, Navigation– Structure (Is it structured properly for Inbound Marketing)– Capability for Inbound Marketing

• Assess your Marketing (Research, Inbound and Outbound)– Budget (Do we have the time and money to invest in this strategy)– Strategy (Elements of Inbound Marketing, what should we do, what is not necessary)– Content Development – Internal Capacity

• Assess your customer base and gain knowledge of customer personas– Customer Intimacy (Problems, goals, objectives, pain points, objections to overcome, etc)– Buying Habits (what do they buy, timing, buying barriers, buying cycles, etc.)– Interests (trigger point, topics of interests, etc)

• Assess your ability to execute – Commitment (Leadership)– Internal Champion ( Do we have someone to lead this and stay up to date)– Resources/People (internal/external, who will all be involved, buy-in, capacity, skill)– Process (do we need to invest in systems software, other processes/procedures)

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Six Essential Questions

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1. Can you identify the best customers – now and in the future?2. Can you articulate a compelling brand message/value proposition?3. Do you know which market niches (customer groups) to focus on –

now and in the future?4. Do you know what kinds of products/services the best customers

want?5. Can you adequately compare your products/services to your

competitors in terms of value?6. Do you know if you are making adequate margins on each product,

service or job?

Individual Next Steps• Gaps

• Opportunities

• Next 90 Days – what will you do?

MAGNET can help!

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THANK YOU!Email: sam.wasylyshyn@magnetwork.orgCell: 440.225.3029

Email: reed.stith@magnetwork.orgCell: 330.656.2023

http://www.manufacturingsuccess.org/