maximizing your marketing investment hf leadership symposium, chicago, il sept 2014 - ramiro roman
DESCRIPTION
Maximizing Your Marketing Investment - Presentation at the GE HF Leadership Symposium. Provides a strategic view at marketing, along with several pragmatic tools to help you maximize your marketing spend, competitiveness and differentiation. Leverages case studies from several industries to easily communicate framework objectives. To network, contact me at www.RamiroRoman.com.TRANSCRIPT
Imagination at work
Maximizing Your Marketing Investment
Ramiro Roman
September 10, 2014
2Source: Mad Men
“ Every battle is won
BEFORE
it is fought ”
Sun TzuSource: Google Images
DieQuickly
Thrive
Die Slowly
Survive
Strategy (¢)Doing the wrong things
Strategy (¢)Doing the right things
Tactics ($$$)Doing things well
Tactics ($$$)Doing things poorly
Source: CEB : Marketing Leadership Roundtable Research
5
Market
Segment
Value PropBrand
Channel
Marketing Framework
Source: GE
Leverage market intelligence to set strategy
1. Decipher external trends and influences
2. Define and/or understand your industry
3. Analyze competitors
7
Market
Source: GE
8
Market
Industry Rivalry
Suppliers
Substitutes
Buyers
Entrants
Mag
nitu
de o
f Eff
ect
Likelihood of Occurrence
0% 100%
Low
Hig
h
Source: GE Source: 5 Forces Model
9
Market
Direct Indirect Complementors
Actual
Potential
Source: GE
10
Market
Source: Google Images
For (target customer)
who (statement of the need or opportunity),
the (product name) is a (product category)
that (statement of key benefit – that is, compelling reason to buy).
Unlike (primary competitive alternative), our product (statement of primary differentiation)
Source: Crossing the Chasm
Source: HBR When Marketing is Strategy 11
Market
Group customers by needs and profitability
1. Study target customer perception & behaviors
2. Understand unstated and future needs
3. Select and prioritize segments
12
Segment
Source: GE
13
Source: Google Images
14
TRANSACTIONALEvaluate
Risk
Tol
eran
ce
Business Model
TRANSACTIONALOpportunistic
COREExpand
EXTENDDevelop
ADJECENTInnovate
Low
High
External Internal
Segment
Source: GE
Source: HBR What is Your Strategy? 15
Segment The strategic objective for the downstreambusiness… is to influence how consumers perceivethe relative importance of various purchase criteria and introduce new criteria
Source: HBR When Marketing is Strategy
16
Segment
HBR Case Study 1998
New Mkt90%Mg
2001
Only$1.5B
2003
CompetitorMe2
2003+
3rd entrantNew VP
2012
3rd entrant#1 $5B Mkt
Source: HBR, Google Images, Pfizer Ad, Lilly/Icos Ad
Source: Phillip Morris 17
Innovate to optimize customer & company value
1. Define relevant positioning
2. Innovate upstream and downstream
3. Align business model
18
Value Prop
Source: GE
Target Perceptions
CompetitorsValue Prop
YourValue Prop
19
Value Prop
What would you do?
1. Advantage, opportunity to expand2. At par, execute flawlessly3. Disadvantaged, make trade offs4. Irrelevant, wasted resources
Source: GE
20
Value Prop
Source: Hyundai website 21
HBR Case Study
AssuranceValue Prop
22
Core MarketsCore Markets
2%
5%
7%
10%
Mar
ket G
row
th (
5YRS
)
Adjacent Opportunities
NIBP
White Space
Value Prop
Source: GE
“ Competitive strategy is about being different
It means deliberately choosing a different set of activities to deliver a unique mix of value
Strategy is the creation of a unique and valuable proposition, involving a different set of activities
The essence of strategy is choosing what not to do
Among all other influences, the desire to grow has perhaps the most perverse effect on strategy “
Michael Porter 23
Value Prop
Influence decision-makers and stakeholders
1. Identify personas & influencers in buyer journey
2. Differentiate, differentiate, differentiate
3. Launch programs throughout buying cycle
24
Brand
Source: GE
25
Brand
26
Source: entreprenuer.com
Brand
Source: Vanguard
27
Brand
“Owning, protecting and nurturing the brand is one of most important jobs of a CEO" … “Every decision I make must support the long-term health of our brand“ J. Immelt, GE, Sept. 5, 2014
Source: HBR What is Strategy?
Source: VW & Mini Cooper 28
Brand
Title or Job Number | XX Month 201X 29
EDUCATION Loosening Status Quo
Awareness of the problem
Committing to Change
Align w/ business issues/urgency
BUILD CREDIBILITY• 3rd party leverage• 3rd : white papers• 3rd : education guides• 3rd : benchmark• 3rd : webinar• 3rd : podcasts
CONTENT STRATEGY
SOLUTION Explore Possible Solutions
Help buyer ID benefits for solving issue
Commit to Solution
Align Sol’n w/ specific set of business needs
INFLUENCE SOLUTIONS• Switching case studies• Company white papers• Customer communities• Company webinar• Needs template• Solution comparisons
SELECTION Justifying Decision
Demonstrate benefits/ROI
Making Selection
Validate choice
DEMONSTRATE PROOF• ROI/TCO calculators• Live events• Customer events• Data sheets• Configurators• References
Source: SiriusDecisions
Brand
SALES STRATEGY
https://www.youtube.com/watch?v=lAl28d6tbko
30
Brand
Source: Blendtech
Align resources to targets
1. Develop channel strategy
2. Align sales and marketing
3. Asses performance based on objectives
31
Channel
Source: GE
32
Channel
Source: Google Images
Title or Job Number | XX Month 201X 33
Channel
34
Channel
57% 43%
Due diligence
begins
1st serious engagement
w sales
Purchase
Source: 2011 CEB (n=1500) Source: Gartner & HBR
35
Channel
Source: Marketo
Traditional
TraditionalNow : ID, nurture, qualify Now : Nurture, harvest, IB, upsell, NPS
36
Source: Google Images
Resources
• SiriusDecisions
• Corporate Exec Board
• Marketing Profs
• HBR
• CMO.com
• HubSpot
• Razorfish
• 32 FREE courses http://www.wordstream.com/blog/ws/2014/08/19/free-online-marketing-courses#.
Source: Logos from organizations
37