sobo 2013 path to growth webinar

State of the Business OwnerCreating the Perfect Marketing Mix

Using Marketing and Technology to Create Sustainable Growth

Presenters

Cameron MadillCEO

PixelSpoke

Liz DavidoffStrategic Partnerships

EMyth

Conversation

Tweet to #sobo2013

Use the chat feature in GoToWebinar

Questions answered throughout, and at the end

State of the Business Owner 2013stateoftheowner.com

About the Study

Over 1,700 business owners responded to a 60 question survey in early 2013. Companies from over 80 different countries participated, ranging from sole proprietors to those with hundreds of employees, with an average revenue of $4.7M (US)

Statistical analysis was conducted using advanced modeling techniques.


Report, Webinar Recordings & Slides


Think You Know SMB Marketing?



Marketing and Lead Generation

75% of businesses said that their marketing is not

producing enough leads to meet their revenue goals


Marketing and Sales Alignment

63% of businesses said that their marketing does not

effectively support their sales efforts


Marketing and Technology

61% of businesses said that they are not effectively

using digital techniques to create new leads


Marketing and Planning

59% of businesses did not have a

written marketing plan


Marketing and Measurement

58% of businesses evaluate the effectiveness of their

marketing efforts less than every 90 days


Marketing and Existing Customers

38% of businesses had no plan to generate additional

revenue from current customers


Marketing and Budgets

0% increase in revenue growth or profitability

based on the size of marketing budget


Marketing and Tactics

0% increase in revenue growth or profitability

from using any single specific tactic

Defining SuccessfulMarketing


Success Factors in Business

1. I am happy with my business2. I feel in control of my business3. My business hit its profit targets4. My business grew faster than the industry average


Success Factors in Marketing

Our marketing is producing enough of our target prospects to meet our revenue goals

Strongly correlated with all 4 business success factors (revenue growth, profitability, happiness, and control)


The Villain


Chocolate Cake?


The Two Challenges

Just like baking a cake, we have two key tasks in effectively marketing our companies:

1. Pick the right ingredients (techniques)

2. Combine them in the right order and quantity


Even if you have these...


...you still might end up with this


The Perfect Marketing Mix


Success Stories


Direct Plastics



Marketing Planning

Businesses that had a written marketing plan grew 10%

faster than those that did not, and were 62% more likely

to hit their profit targets

Plan AND Do

Businesses that monitor their brand online


Tip #1 - Advanced Analytics


Tip #2 - Site Speed


Tip #3 - Educational Emails


Penguin Computing


Tip #1 - Sell with Stories


Experiential vs. Material Purchases

People derive much greater satisfaction from experiential purchases, and are consistently willing to pay more money for them.


Tip #2 - Retargeting


Tip #3 - Try Different Offers


Stephens Margolin


The Importance of Technology

Top 5 trends affecting business owners

1. Technology2. Online3. Economy4. Competition5. People


BBs...then Cannonballs


Not Every Idea Succeeds


Tip #1 - Rich Snippets


Tip #2 - Reviews Matter


Tip #3 - Build an Online Experience


Great Marketing is a Habit(not a Series of Events)


The Power of Habit


The Wisdom of Experience

Those who had owned 3 or more businesses were...

58% more likely to be generating enough leads to meet their revenue goals

50% more likely to have a written marketing plan

45% more likely to measure results at least weekly


A Business Is a Body in Motion

Image Copyright Universal Studios


Next Steps


Create the right marketing mixin two steps:


● Step One: Create a marketing plan with clear priorities

● Step Two: Commit to healthy marketing habits, including measurement, BBs...then cannonballs, and effective use of technology

Marketing Action Plan (MAP)

www.pixelspoke.com/resources


New BBs To Try

www.pixelspoke.com/insights


Q&A

To ask questions, tweet to #sobo2013Or use the chat feature in GoToWebinar

Upcoming Webinars:September 17 - Ownership Stack DiagnosisWe'll email you with updates


sobo 2013 path to growth webinar

Business

business owners

successful marketing

people state

control state

end state

quantity state

retargeting state

villain state