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Building Top Line Revenues with
           Marketing



             5 land mines to avoid
                          Paul Renaud
Shtick !
Marketing was simple back then
4P’s: Place
4P’s: Product
4P’s: Price


$.49 to $ .99
   for a 45 Record
4P’s: Promotion
Loyalty?
Marcomms
Why did I choose
 Alice Cooper?
’Well …OK …!’
And because ‘Music is an
international language’




PAUL ANKA (16years old)    PAUL ANKA (now)
When was the last
  Time you…
Why do we make
   things so
 complicated?
Land mine #1 Marketing,
Sales…what’s the difference?
Marketing…Sales…

Which department matters most in a company?
            Marketing or Sales…

 ‘What comes first? The chicken or the egg?’
Marketing…Sales…


 Marketers need to have sold something to
        be effective in marketing!


Marketers must understand the pain of trying
            to ‘make the sale’!



              Selling isn’t easy!
Marketing…Sales…

                  Sales discipline

Sales’ ability to reach sales targets established in the
              Business plan – Imperative.


Account Managers go through consistent prospecting
            process till a sale is made.
Marketing…Sales…
                                     Day to Day Plan
                                          0930 – 1030
         Account Managers starting their day early, on time to do Telephone calls
                           Returning phone calls of previous day
                                  Leads generated internally
                                    Cold calls to prospects
                  Confirm presentations booked by other team members
                   Call on new contact developed within existing clients
                              Follow up on Direct mail program
Goal: Book a meeting even if it short in nature. The AM does not try to sell products/services
                                        over the phone.
                                     1030 – 1230
    Customer meetings either booked or “in the neighborhood” calls to existing clients.
                                        1230 – 1300
                                           Lunch
                                        1300 – 1600
                                     Customer meetings
                                       1600 – 1900
                       Returning phone call messages on same day
                                Leads generated internally.
                            Follow up on Direct mail program.
                                  Cold calls to prospects
                                  Confirm presentations
          Call on new contacts provided by Marketing leads or Customer Service.
Marketing…Sales…

AM starts effective after approximately 1 ½
              years of selling.
         • know your customers,
      • learn the tricks of the trade,
             • avoid mistakes,
      • focused on customer needs,
            • expert at ‘closing’.
Marketing…Sales…

Fact:
 strong link between Sales & Marketing.
 always seek feedback from sales (reading market,
understanding competition, fine tuning products/ services).


NO feedback from sales? that’s a problem. Either:

1) Sales don’t have your number/email/ channel to give to
feedback,
2) Not welcoming feedback?
3) NO environment for sales to give feedback.
Listen to the
   music!
Land mine # 2: Customer Experience –
         are we ‘In Synch’?
‘Moment of Truth ‘
One magic moment where your company is
evaluated.

 Product/service
 Performance
 Interaction with customers
 How services are delivered
‘Moment of Truth ‘

    ‘When passengers see a coffee stain on
                                the
                tray table in front of them, they
                         automatically
                        assume that we
                     have engine troubles.’

Tom Peters (Passion for Excellence, 1985)
‘Moment of Truth ‘

SMS for an outstanding balance on client’s bank
card:

     Cod ID client XX8644YY: La
  06/02/2012 suma datorata este
67.41 RON. Restantele se raporteaza
         Biroului de Credit.
‘Moment of Truth ‘

Assessment:
1. Total lack of politeness. No ‘ ‘we would like to raise to your
   attention’…
2. No explanation – Straight to credit bureau.
3. No warnings; ‘out of the blue’. No emails, no attempt to call/
   perhaps enquire as to why unpaid or inactive.


Contradiction:
 Enormous budgets for ATL advertising in TV, Print and
outdoor with 3 Romanian sport figures.
‘Moment of Truth ‘
Result:
 Client canceled the card, rather all cards.


The solution:
 All touch points and customer facing departments to be in
unison.
 Product Managers/Marketing communications need to be
attentive what:
    Customer care
    Retention/loyalty
    Collections teams are sending to the customer via SMS.
‘Moment of Truth ‘

  All customers bring value!

Marketing OWNS the messages to
           customers!

   All messages to customers,
    have to be CONSISTENT !
Building top line revenues with marketing
Stick to the
   Shtick
Land mine #3: Dealing with apathy.
How Branding can instill a killer instinct
Dealing with Apathy

    Customer complaints are vital
          how we are doing
     Opportunity to solve problems

What’s worse than a customer complaining?

 A customer that does not complain (…and
                  walks).
Dealing with Apathy

               SOUL
    is what the Brand represents…
it’s the promise delivered every day.
Dealing with Apathy
Let me give you an example – yes… banking!

4 years ago
 debit card renewed/ needed to wait for my new card.
 after 1 week… after 2 weeks ‘nope not ready yet’… after 6
weeks, finally get my card!

Fast forward 4 years now. Same bank!
 bank calling to deter potential fraud
 debit card had to be renewed!
 5 weeks to get a renewed card after multiple calls
Dealing with Apathy

Bright looking employee reaction: ‘Humm’



                 NO Initiative,
               NO attention to the
                   customer,
              NOT a bit of empathy!
Dealing with Apathy

   WANT to find the answer
      HAVE the initiative
WANT to kill himself for the brand
 WANT to please his customer
  WANT to make a difference



   FEEL part of the brand!
The brand makes it happen!
Brand is
solution to
  apathy
Land mine #4. Of course the
campaign is integrated…
Of course the campaign is Integrated!

 Common integrated campaign pitfalls

 Pitfall #1: Media that don’t reinforce each other
 Pitfall #2: Create a budget first, metrics second
 Pitfall #3: Awareness vs. sales
 Pitfall #4: Delegate and forget

 More details:
 Blog - http://blog.renaud-investments.ro/
Of course the campaign is Integrated!
  Pitfall #1: Media that don’t reinforce each other


 Ask agency or team making the proposal:

 • ‘The TVC will complement online how?’ or

 • ‘Prove to me that customers will see same message in 2-3
 different media, creating call to action?’

 •‘Explain link between Outdoor and web banners?’
Of course the campaign is Integrated!
  Pitfall #1: Media that don’t reinforce each other

     Adding any combination of media is EASY
      Getting them to work ‘in synch’ is NOT!

 The messages :   Consistent
                  Choice of media needs to build a 1-2 punch
                  Must complement each other.
Of course the campaign is Integrated!
  Pitfall #2: Create a budget first, metrics second

Common mistake: Set a budget first, then spend later on a
variety of media.

The justification to coming up with budget first could be:
a) Slow sales
b) Competitors are not advertising as much or
c) The state of the economy.
Of course the campaign is Integrated!
             Pitfall #3: Awareness vs. sales


 It is possible to design Marketing so that the initiatives and
 tools you create can generate customer revenues.

 Look for an agency that can focus on:
  creation
  execution ..and
  integration of all Marketing initiatives
Of course the campaign is Integrated!
            Pitfall #4: Delegate and forget


 Chief Marketing Officer            Sales-and-Marketing Pro:
  see results
  maintain the consistency of the message.



 CMO has to be diligent enough to have created a succession !
Of course the campaign is Integrated!

 You must consider the following:

 1) Who’s the target of marketing campaign?
 2) Initiatives follow the marketing plan?
 3) Goals this campaign seeks to achieve?
 4) Are Leads captured?
 5) Monitor the results?
Will my
  mother
understand
   this?
Land mine #5.
We’ll measure it later
We’ll measure it later
“I am certain that half the money I spend in
advertising is wasted. The trouble is, I do not
know which half. ”
–John Wanamaker




      Sustained brand advertising, or targeted retail promotions?

    “Classical” media advertising or hard-selling direct Marketing?
We’ll measure it later

Evaluation tools that are used to measure a project’s
viability:

    Internal rate of return (IRR)

    Net present value (NPV)

    Contribution Margin

    Return On Investment (ROI)
We’ll measure it later
                                      Return On Investment (ROI)
Here is a breakdown of a trade show costs and revenues:
Trade Show Expense                         $20,000

New Accounts                                    5
Existing Accounts with New Business            15
Total Accounts                                 20
                                                                  (Cash Flow – Total Show Costs)/
Acquisition Cost/Account                    $1,000
                                                                  Total Show Costs
New Accounts                                         Year After
Revenue Generated                                      $50,000
Gross Profit Percent                                      40%     8000-3250/3250 = 146%
Gross Profit                                           $20,000
Tax Rate                                                  35%
After-Tax Gross Profit                                 $13,000
Working Capital @ 10% of Revenue                       -$5,000
Cash Flow                                               $8,000
Trade Show Expense After Tax                            $3,250
ROI                                                      146%
(Source: InfoTech Marketing, 2012)
Don’t be a ROI sissy
CFO




          You
Summary
Generating Top Line Revenues!
The rules are the same as they were in the
70’s:

1)   Listen to the music!
2)   Stick to the ‘Shtick’!
3)   Brand is solution to apathy
4)   Will my mother understand this?
5)   Don’t be a ROI sissy
Renaud is Romania’s leading Business Coach




                            www.renaud-investments.ro
                      http://blog.renaud-investments.ro
Marketing
  Applied




www.leadersinmarketing.ro

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Building top line revenues with marketing

  • 1. Building Top Line Revenues with Marketing 5 land mines to avoid Paul Renaud
  • 6. 4P’s: Price $.49 to $ .99 for a 45 Record
  • 10. Why did I choose Alice Cooper?
  • 12. And because ‘Music is an international language’ PAUL ANKA (16years old) PAUL ANKA (now)
  • 13. When was the last Time you…
  • 14. Why do we make things so complicated?
  • 15. Land mine #1 Marketing, Sales…what’s the difference?
  • 16. Marketing…Sales… Which department matters most in a company? Marketing or Sales… ‘What comes first? The chicken or the egg?’
  • 17. Marketing…Sales… Marketers need to have sold something to be effective in marketing! Marketers must understand the pain of trying to ‘make the sale’! Selling isn’t easy!
  • 18. Marketing…Sales… Sales discipline Sales’ ability to reach sales targets established in the Business plan – Imperative. Account Managers go through consistent prospecting process till a sale is made.
  • 19. Marketing…Sales… Day to Day Plan 0930 – 1030 Account Managers starting their day early, on time to do Telephone calls Returning phone calls of previous day Leads generated internally Cold calls to prospects Confirm presentations booked by other team members Call on new contact developed within existing clients Follow up on Direct mail program Goal: Book a meeting even if it short in nature. The AM does not try to sell products/services over the phone. 1030 – 1230 Customer meetings either booked or “in the neighborhood” calls to existing clients. 1230 – 1300 Lunch 1300 – 1600 Customer meetings 1600 – 1900 Returning phone call messages on same day Leads generated internally. Follow up on Direct mail program. Cold calls to prospects Confirm presentations Call on new contacts provided by Marketing leads or Customer Service.
  • 20. Marketing…Sales… AM starts effective after approximately 1 ½ years of selling. • know your customers, • learn the tricks of the trade, • avoid mistakes, • focused on customer needs, • expert at ‘closing’.
  • 21. Marketing…Sales… Fact:  strong link between Sales & Marketing.  always seek feedback from sales (reading market, understanding competition, fine tuning products/ services). NO feedback from sales? that’s a problem. Either: 1) Sales don’t have your number/email/ channel to give to feedback, 2) Not welcoming feedback? 3) NO environment for sales to give feedback.
  • 22. Listen to the music!
  • 23. Land mine # 2: Customer Experience – are we ‘In Synch’?
  • 24. ‘Moment of Truth ‘ One magic moment where your company is evaluated.  Product/service  Performance  Interaction with customers  How services are delivered
  • 25. ‘Moment of Truth ‘ ‘When passengers see a coffee stain on the tray table in front of them, they automatically assume that we have engine troubles.’ Tom Peters (Passion for Excellence, 1985)
  • 26. ‘Moment of Truth ‘ SMS for an outstanding balance on client’s bank card: Cod ID client XX8644YY: La 06/02/2012 suma datorata este 67.41 RON. Restantele se raporteaza Biroului de Credit.
  • 27. ‘Moment of Truth ‘ Assessment: 1. Total lack of politeness. No ‘ ‘we would like to raise to your attention’… 2. No explanation – Straight to credit bureau. 3. No warnings; ‘out of the blue’. No emails, no attempt to call/ perhaps enquire as to why unpaid or inactive. Contradiction:  Enormous budgets for ATL advertising in TV, Print and outdoor with 3 Romanian sport figures.
  • 28. ‘Moment of Truth ‘ Result:  Client canceled the card, rather all cards. The solution:  All touch points and customer facing departments to be in unison.  Product Managers/Marketing communications need to be attentive what: Customer care Retention/loyalty Collections teams are sending to the customer via SMS.
  • 29. ‘Moment of Truth ‘ All customers bring value! Marketing OWNS the messages to customers! All messages to customers, have to be CONSISTENT !
  • 31. Stick to the Shtick
  • 32. Land mine #3: Dealing with apathy. How Branding can instill a killer instinct
  • 33. Dealing with Apathy Customer complaints are vital  how we are doing Opportunity to solve problems What’s worse than a customer complaining? A customer that does not complain (…and walks).
  • 34. Dealing with Apathy SOUL is what the Brand represents… it’s the promise delivered every day.
  • 35. Dealing with Apathy Let me give you an example – yes… banking! 4 years ago  debit card renewed/ needed to wait for my new card.  after 1 week… after 2 weeks ‘nope not ready yet’… after 6 weeks, finally get my card! Fast forward 4 years now. Same bank!  bank calling to deter potential fraud  debit card had to be renewed!  5 weeks to get a renewed card after multiple calls
  • 36. Dealing with Apathy Bright looking employee reaction: ‘Humm’ NO Initiative, NO attention to the customer, NOT a bit of empathy!
  • 37. Dealing with Apathy WANT to find the answer HAVE the initiative WANT to kill himself for the brand WANT to please his customer WANT to make a difference FEEL part of the brand!
  • 38. The brand makes it happen!
  • 40. Land mine #4. Of course the campaign is integrated…
  • 41. Of course the campaign is Integrated! Common integrated campaign pitfalls Pitfall #1: Media that don’t reinforce each other Pitfall #2: Create a budget first, metrics second Pitfall #3: Awareness vs. sales Pitfall #4: Delegate and forget More details: Blog - http://blog.renaud-investments.ro/
  • 42. Of course the campaign is Integrated! Pitfall #1: Media that don’t reinforce each other Ask agency or team making the proposal: • ‘The TVC will complement online how?’ or • ‘Prove to me that customers will see same message in 2-3 different media, creating call to action?’ •‘Explain link between Outdoor and web banners?’
  • 43. Of course the campaign is Integrated! Pitfall #1: Media that don’t reinforce each other Adding any combination of media is EASY Getting them to work ‘in synch’ is NOT! The messages : Consistent Choice of media needs to build a 1-2 punch Must complement each other.
  • 44. Of course the campaign is Integrated! Pitfall #2: Create a budget first, metrics second Common mistake: Set a budget first, then spend later on a variety of media. The justification to coming up with budget first could be: a) Slow sales b) Competitors are not advertising as much or c) The state of the economy.
  • 45. Of course the campaign is Integrated! Pitfall #3: Awareness vs. sales It is possible to design Marketing so that the initiatives and tools you create can generate customer revenues. Look for an agency that can focus on:  creation  execution ..and  integration of all Marketing initiatives
  • 46. Of course the campaign is Integrated! Pitfall #4: Delegate and forget Chief Marketing Officer Sales-and-Marketing Pro:  see results  maintain the consistency of the message. CMO has to be diligent enough to have created a succession !
  • 47. Of course the campaign is Integrated! You must consider the following: 1) Who’s the target of marketing campaign? 2) Initiatives follow the marketing plan? 3) Goals this campaign seeks to achieve? 4) Are Leads captured? 5) Monitor the results?
  • 48. Will my mother understand this?
  • 49. Land mine #5. We’ll measure it later
  • 50. We’ll measure it later “I am certain that half the money I spend in advertising is wasted. The trouble is, I do not know which half. ” –John Wanamaker Sustained brand advertising, or targeted retail promotions? “Classical” media advertising or hard-selling direct Marketing?
  • 51. We’ll measure it later Evaluation tools that are used to measure a project’s viability:  Internal rate of return (IRR)  Net present value (NPV)  Contribution Margin  Return On Investment (ROI)
  • 52. We’ll measure it later Return On Investment (ROI) Here is a breakdown of a trade show costs and revenues: Trade Show Expense $20,000 New Accounts 5 Existing Accounts with New Business 15 Total Accounts 20 (Cash Flow – Total Show Costs)/ Acquisition Cost/Account $1,000 Total Show Costs New Accounts Year After Revenue Generated $50,000 Gross Profit Percent 40% 8000-3250/3250 = 146% Gross Profit $20,000 Tax Rate 35% After-Tax Gross Profit $13,000 Working Capital @ 10% of Revenue -$5,000 Cash Flow $8,000 Trade Show Expense After Tax $3,250 ROI 146% (Source: InfoTech Marketing, 2012)
  • 53. Don’t be a ROI sissy CFO You
  • 54. Summary Generating Top Line Revenues! The rules are the same as they were in the 70’s: 1) Listen to the music! 2) Stick to the ‘Shtick’! 3) Brand is solution to apathy 4) Will my mother understand this? 5) Don’t be a ROI sissy
  • 55. Renaud is Romania’s leading Business Coach www.renaud-investments.ro http://blog.renaud-investments.ro