get old schooled
Post on 01-Jul-2015
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DESCRIPTIONPresentation that shows how the classic rules of marketing still apply in an era when marketing tactics are progressing at an ever-increasing pace. Great tool for startups and younger marketing professionals to use as they develop strategies.
- 1. GET OLD SCHOOLED The 5 Timeless Marketing Rules Startups Need to KnowCopyright American Movie Classics Company LLC.@JayWeinberg
2. 2 The World Has Changed@JayWeinberg 3. 3 The World Has Changed@JayWeinberg 4. 4 The World Has Changed@JayWeinberg 5. 5 But People are (Surprisingly) Still the Same@JayWeinberg 6. 6 Some Rules Change, Others Remain@JayWeinberg 7. 75 Timeless Rules of MarketingCopyright Paramount Pictures@JayWeinberg 8. 8 5 Timeless Rules of Marketing Rule #1: 40/40/20 Copyright Paramount Pictures@JayWeinberg 9. 9 40/40/20 40% of the success of a campaign is due to the audience 40% is due to the offer 20% is due to the creative Developed by Ed Mayer in the 1960s Creative, 20% List,40% Product/Offer, 40%@JayWeinberg 10. 10 40/40/20 Why its still relevant Youre still market to people. Market to the right people and you will have the best chance for success How well defined are they? Do you have permission? Can you locate them? Your products and offer is what people care about Groupons humor does not translate to success Spend your time and money accordingly@JayWeinberg 11. 11 40/40/20@JayWeinberg 12. 12 5 Timeless Rules of Marketing Rule #1: 40/40/20 Rule #2: RFM Copyright Paramount Pictures@JayWeinberg 13. 13 RFM Recency, Frequency, Monetary Value Recency: When was the last time they purchased? Frequency: How many times have they purchased? Monetary Value: How much money have they spent? Used to determine relative value of customers R F M Total104556Jones,John5 4 514106225Brown,William 5 4 413103044Martin,Howard 4 3 2 9104788Long,James3 1 3 7@JayWeinberg 14. 14 RFM Why its still relevant Customer value helps you optimize your marketing No matter what business youre in, customers are NOT equal If you segmented your customers based on value, some type of RFM would be the discriminating variables Spend your time and money on the people who matter@JayWeinberg 15. 15 5 Timeless Rules of Marketing Rule #1: 40/40/20 Rule #2: RFM Rule #3: 80/20 Copyright Paramount Pictures@JayWeinberg 16. 16 80/20 Pareto Principle Applied to business, 80% of your revenue (and/or profits) comes from 20% of your customers It may apply to your products as well@JayWeinberg 17. 17 80/20 Why its still relevant It still applies somewhere to almost every business Think about social media 80% of your outbound posts (blog, Facebook, Twitter) are read by 20% of your audience 80% of your inbound communications (replied, posts) are from 20% of your audience Think about email marketing 80% of opens come from 20% of audience 80% of clicks come from 20% of opens Use it to continuously improve your marketing efforts Identify your top 20% and learn as much as you can about them Keep the top customers happy Identify customers in the bottom 80% who have the best potential@JayWeinberg 18. 18 5 Timeless Rules of Marketing Rule #1: 40/40/20 Rule #2: RFM Rule #3: 80/20 Rule #4: AIDA Copyright Paramount Pictures@JayWeinberg 19. 19 AIDA Attention, Interest, Desire, Action Over 100 years old Tracks the steps needed to make marketing work Attention: Creative message that attracts attention of the targetmarket (example: AdWords) Interest: Engage prospect with benefits and solutions Desire: Convince prospect that your product is the solution Action: Make it easy to buy (example: sales funnel)@JayWeinberg 20. 20 AIDA Why its still relevant UX has AIDA in its DNA Human behavior has not fundamentally changed The AIDA process can happen within seconds or months Know your customer and their needs Bonus! Great article on the application of AIDA to web design and app design http://www.noupe.com/design/the-aida-marketing-model-in-web- design.html@JayWeinberg 21. 21 5 Timeless Rules of Marketing Rule #1: 40/40/20 Rule #2: RFM Rule #3: 80/20 Rule #4: AIDA Rule #5: $>% Copyright Paramount Pictures@JayWeinberg 22. 22 $ Off > % Off Dollars off beats percent off Direct mail rule since the 80s If value is relatively equal, dollars off will prevail People still dont like to think (and were still lousy at math)@JayWeinberg 23. 23 $ Off > % Off Why its still relevant No matter the channel or tactic, people like simplicity@JayWeinberg 24. 24 $ Off > % Off 4000 + 30 4030 + 20 4050 + 40 4090+ 10@JayWeinberg4100 25. 25 Summary The Rules Behind the Rules 1. The audience and the message is most important 2. All customers are not created equal 3. The minority accounts for the majority 4. There is a buying process for your product 5. People dont like to think (KISS) Copyright Paramount Pictures@JayWeinberg 26. 26 Questions?@JayWeinberg 27. 27 Thanks for listening! Jay Weinberg312-447-0414 x1 The JAY Group Skype: jayweinberg 444 N Wells St. Ste 304 email@example.com Chicago, IL 60654 www.thejaygroup.com@JayWeinberg