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Transcript of Bootstrap Marketing
BOOTSTRAP MARKETING
Brandon T. Luong, Founder
Guanxi Innovations
@BrandonTLuong
AGENDAAGENDA
‣ Brand-Marketing Strategy
‣ Marketing Implementation
‣ Analyze & Adjust
BRAND-MARKETING STRATEGYBOOTSTRAP MARKETING
@BrandonTLuong
BRAND-MARKETING STRATEGY
A brand is the set of expectations, memories,
stories and relationships that account for a
consumer’s decision to choose one product
or service over another. If the consumer
doesn’t pay a premium, make a selection or
spread the word, then no brand value exists
for that consumer.
“
”- Seth Godin
BRAND-MARKETING STRATEGY
The aim of marketing is to
know and understand the
customer so well the product
or service fits him and sells
itself.
“”
- Peter Drucker
BRAND-MARKETING STRATEGY
Branding
‣ Strategy
‣ Sets company image
guidance
‣ Gathers consumer
intelligence second hand
Marketing
‣ Tactical
‣ Delivers company’s
message to target consumer
‣ Gathers consumer
intelligence directly from
source
vs
BRANDING VS MARKETING
BRAND-MARKETING STRATEGY
Bootstrap Marketing
noun
A tactical marketing plan giving the maximum ROI (Return on
Investment) at the lowest cost while aligning with the brand’s goals
BRAND-MARKETING STRATEGY
APPROACHES ON MARKETING PLAN
1 2 3General Marketing Campaigns Product Marketing
‣ Year Round
‣ Relatively static
‣ Flexibility in adjust
‣ Set period of time
‣ Fast pace
‣ Long term planning
in short time
‣ Set period of time
‣ Fast/Slow pace
depending on
product
‣ Possibility of reusing
tactics again
BRAND-MARKETING STRATEGY
Ensure marketing reflects the brand
FIRST STEPS IN DEVELOPING MARKET PLAN
1 Outline the goal(s) of the marketing plan
Metrics to validate the resources used in marketing2
3
BRAND-MARKETING STRATEGY
Specific Measurable Attainable Realistic Timely
S M A R T
BE SMART AS TO REACH OBJECTIVES
*There are other frameworks you can use
BRAND-MARKETING STRATEGY
EFFECTIVELY CAPTURE CLIENTS USING CUSTOMER PERSONA SCENARIOS
‣ Pit customer persona development to SMART framework
‣ Allows companies to understand who are their target audience, also discover
pivots sooner
‣ Gives insights on customers and how to persuade them to buy
‣ Lowers cost in customer acquisition, lifecycle and other costs
BRAND-MARKETING STRATEGY
CUSTOMER PERSONAS AND SMART LIMITS UNNECESSARY EFFORTS
EX: Pick channels that are most relevant to your clients, and not profiles on every
single social network
BRAND-MARKETING STRATEGY
HEADER 2
EXERCISE
1) Identify company’s value, swag, culture and overall brand
2) Develop consumer persona
3) Select channels based on your targets’ behaviors
MARKETING IMPLEMENTATIONBRANDON T. LUONG
@BrandonTLuong
BRAND-MARKETING STRATEGY
STRATEGY MEANS NOTHING WITHOUT NUMBERS
‣ After establishing customer criteria, have metrics in place
‣ Know the real marketing cost: customer acquisition, lifetime value, marketing-
sales conversion, etc.
CAC = MCC
CA
CAC – Customer Acquisition Cost
MCC – total Marketing Campaign Cost
CA – total Customers Acquired
BRAND-MARKETING STRATEGY
Real Formula for CAC
CAC = MCC + W + S + PS + O
CA
CAC – Customer Acquisition Cost
MCC – total Marketing Campaign Cost
W - Wages
S – cost of all marketing/sales Software
PS – additional Professional Services
O – Overhead
CA – Customers Acquired
BRAND-MARKETING STRATEGY
Customer LifeTime Value cost
LTV = S x R x T
LTV = LifeTime Value
S – average value of a S
R – number of Repeated transactions
T – average retention Time in months or
years for a typical customer
BRAND-MARKETING STRATEGY
A/B TESTING HELPS MARKETERS PIVOT THEIR STRATEGY
‣ Altering colors or layout may increase engagement
‣ Reveal which method is most effective
‣ Enables marketers to change strategy on the fly
BRAND-MARKETING STRATEGY
IDENTIFY AREAS OF NEEDED MARKETING $
‣ Identify highest purchasing seasons according to market
‣ Budget total year, and how much goes into each
‣ Formula:
Budget = Digital + Physical + Software + Wages + Misc.
BRAND-MARKETING STRATEGY
HEADER 2
EXERCISE
1) Review customer persona
2) Create several “Facebook Ads” for A/B testing
3) Class poll to see which ads are more effective
Constraints:
- Header is 25 characters
- Body is 90 characters
*Disclaimer: Facebook has an image – text ratio of 20%, but who cares for this exercise
ANALYZE & ADJUSTBRANDON T. LUONG
@BrandonTLuong
ANALYZE & ADJUST
‣ Review the numbers to adjust the plan
‣ Monitor and comprehend analytics as to avoid the red
‣ Ensure digits are align with goals
DON’T EFF UP; ADJUST ACCORDING TO NUMBERS
SUMMARY
‣ Frameworks are your friends
‣ Thy shall know the numbers
‣ Strategy Implementation Pivot Repeat
‣ Body Level One
‣ Body Level Two
‣ Body Level Three
‣ Body Level Four
‣ Body Level Five
‣ Body Level One
‣ Body Level Two
‣ Body Level Three
‣ Body Level Four
‣ Body Level Five
THANKS!
‣ Body Level One
‣ Body Level Two
‣ Body Level Three
‣ Body Level Four
‣ Body Level Five
BRANDON T. LUONG
‣ Body Level One
‣ Body Level Two
‣ Body Level Three
‣ Body Level Four
‣ Body Level Five
‣ @BrandonTLuong
‣ Luong.webflow.com