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Welcome to Marketing4entrepreneurs.org
Supporting Entrepreneurs - 10 Year Anniversary !
The idea behind this dedicated free business marketing resource and community is for Irish and International entrepreneurs to:
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share insights into the marketing and sales that grows businesses, and
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avoid the pitfalls and mistakes that stunt business development and success
If you'd like to join us - simply subscribe and/or contact Community Facilitator : Greg Byrne . There's no cost - just make deposits when you can, as well as withdrawals from our KnowledgeBank.
Spring 2010 GrowthPaths Newsletter - Is Out Now!!
Welcome to the Spring 2010 GrowthPaths Newsletter - focussing on key online marketing trends, digital marketing and word of mouth as a medium. It also looks at App development as a viable business, the 50+ market segment and whether the 'luxury' market is dead?
Key Online Marketing Trends : Online marketing is facing unprecedented change, brought on by a volatile economy, the meteoric rise of new channels, and the increased demand for financial accountability. To provide better visibility into the year's trends, Jay Henderson at Unica surveyed 155 marketers about online marketing technology usage and plans. The data revealed 10 key online marketing trends for 2010...
How To Energize Your Digital Revenues : In this Study By Marco Vernocchi and Matt Symons in Outlook- The Journal of High-Performance Business, February 2010, they find that: If companies are to effectively monetize the digital relationship with consumers, they must get three things right.
Engage consumers through relevance and dialogue.
Use technology to deliver a customized digital experience with a more predictable cost structure.
Establish revenue models based on the success of relationship building.
Earning A Living As An Independent Mobile Software Developer: Justine Pratt, Asks the Question Is it possible to earn a living as a mobile software developer and on which platform is this goal easiest to achieve? This post provides a valuable platform comparison and a foundation on which to determine the path for reaching self-employment goals as an independent mobile software developer.
Word Of Mouth Marketing campaigns that encourage considerable word of mouth among consumers have a greater impact on sales than more traditional forms of advertising, according to McKinsey. The consultancy argued that word of mouth is the "primary factor" behind between 20% and 50% of purchases, with a particular relevance in relation to expensive products and first-time acquisitions. It added that an advertising "overload", growing mistrust of marketing and the social media-driven shift in control away from companies and towards consumers have all encouraged this trend.
The 50 Market - A Market that Marketeers Still Miss : Baby boomers are responsible for more than 40 percent of retail spending in the U.S. and western Europe, but many companies still focus on youth and young families. Richard Rawlinson and Natasha Kuznetsova in Strategy & Business report that :at 50 or 60,this boomers market- with 20 to 30 years of good health ahead - represent a renewed chance at "lifetime customer value" round two for marketers to engage these consumers. With children grown, debts cleared, inheritances collected, and their professional maturity achieved, this audience is ready for new experiences and solutions. The boomers are prepared to explore brands and products, old and new, that can help them live better in new circumstances.
Is the Luxury Market Dead?: According to "The New Face of Affluence," an in-depth study from Dwell Strategy and Research , Tim Arnold writes that "luxury" brands, per se, are no longer important to the 'New Affluents' market segment, or even relevant; neither is "overall social status," they say. This generation of nouveau riche is shunning "conspicuous consumption" in favor of brands that represent quality, aesthetics and authenticity. These attributes, along with uniqueness, integrity, design and performance, represent today's "prestige" for these high-end consumers. A brand does not have to be expensive to attract New Affluents. What they're now demanding from brands is a new and different kind of relationship. And, as supported by these findings, the days of controlled, top-down brand marketing are over, especially for this sector. These wealthy and would-be elites are actually looking for brand interaction -- a dialogue -- based on integrity, authenticity and performance. And not only are they equipped for interaction, they're demanding it.
The Journey Ahead
Ahead lies The Entrepreneurs Growth Journey and the winning marketing and sales decisions that must be made in the three stages of growth.
There are many trials, tribulations and hurdles to jump during the journey. Not all threaten the viability of the venture - but there are some common marketing mistakes that can.
Always test to see if you are applying your core competencies/skills and key marketing assets in the right applications, product solutions and in the best markets.
If you are starting out in the software business, Michael Cusumano, MIT Sloan Management Review Distinguished Professor of Management, has some advice for you.
How will markets change as more and more consumers migrate online? What business models do you consider in this new 'digital' era? Michael Rappa , the Alan T. Dickson Distinguished Professor of Technology Management at North Carolina State University has created the educational site to address these and other 'Managing the Digital Enterprise' challenges and opportunities.
Web Marketing is central to the ventures future journey - for the purposes of simplifying an emerging, evolving and increasingly important part to a venture's marketing strategy and programs; we'll look at web marketing in three sequential steps:
First you have start with the right Web Site for your business.
Then you need to take account of Search Engine Optimisation
And finally you must select the Online Marketing Strategies and Tools
Always listen out for the 'voice of the customer' - it can lead to new products, new services and most importantly an army of customer-marketers who advocate your business to their friends, family and colleagues.
Companies can go about listening to customers all wrong- so wrong, in fact, that they undermine innovation and , ultimately the bottom line. Anthony W Ulwick at the Strategyn Institute has developed a pioneering methodology for capturing customer inputs that focuses on outcomes - revealing what customers are really trying to achieve in using a product or service.
Consumers ( and your customers!) are increasingly going online to : chat amongst close friends, find like-minded people in communities of shared interests, debate and discuss topical issues, give and ask for information and support on important matters, shop, play and increasingly create new products and services in collaboration with companies.
Stay tuned and be involved! in this major , seismic change.
What are You Better At!
For a business to be viable, it has to do something as well as its competitors; however,to survive, thrive and win in a competitive market, it has to do something better than its competitors. And then communicate this convincingly to the customer group that will value it the most.
That's about staking out your market position.... What is your position in the market? .....If you're short on the answer, find out about the three steps and six key questions to get you there.
Future-proof that position by analysing the Political , Economic, Social and Technical changes and trends in your ventures market contect. Then, prioritise these key PEST changes and their expected impacts Next, define how this will drive your marketplace over the next 3 to 5 years and then finally decide what the key success factors will be for winners to emerge. Build these KSFs into your targeting and positioning strategy. Do a PEST Analysis
Being first to market is the formula for success- right?. Not so-unfortunately. It's only half the battle. The most important marketing task is yet to be done - market positioning
Entering and Capturing Markets
Devising your market entry strategy and choosing the best way to enter a market is no simple task . There's a decision-guidance tool to help you and your team devise the best strategy.In the KnowldgeBank there are insightful case studies from great entrepreneurs- like Mario Polegato of Geox and how they go about their international market expansion. In Monica Eisinger's case study, you'll see how they moved from an initial telecomms market into another, more rapidly growing market.
Internationalisation needs to be a part of the tool set for every entrepreneur doing a start up. This doesn't necessarily mean going international immediately - but it does need planning from the get-go. Here's some guidance on getting export ready. Ronald van Bueren shares practical and real insight into hiring your first export manager
One of the first questions an investor will ask of the start-up/emerging stage entrepreneur is : 'What is your product market category?'. Not knowing the answer and not having the marketing research and analysis to back up the answer can be fatal to the funding outcome.
New Product Development
Peter Drucker wrote that a business has two and only two basic functions: marketing and innovation - marketing and innovation produce results, all the rest are costs. Nowhere is marketing and innovation more critical to the ventures success than in the 'total product solution'
Your initial 'hot product' gets you the foothold in your target market - but what next? You have 9 strategic options to consider in deciding the product-market growth path for the venture.
Transitioning from early market success to mainstream market liquidity with your new product is anything but smooth - it's the wrecking rocks for many technology ventures. Specific growth strategies are needed
Making An Indellible Impression
In the early stages of an entrepreneurial venture, growth depends on the 'three-Ps' - publicity, promotion and personal selling.
For these to be really convincing - nail your singular selling message by using the 'Need-Feature-Benefit' Tool
Achieving the second stage of 'rapid growth' takes branding and getting your brand message across.
What makes for a Leadership Brand? It takes Time and a 4 stage progression in customer perceptions.
Your brand must 'beckon' ( call customers to your door) and it must 'breathe' ( deliver its promise in all interactions). Here's a handy brand implementations template to help you ensure both happen seemlessly.
In consumer markets branding is paramount , the big challenge is to get your product into the consumers mind.
In business markets however it's all about influencing the Company's decision making unit - Key Account Management is the essential tool.
Are your early/emerging stage customers hearing the sound of silence from you?. Maybe it's now time to revisit them
Check Out The KnowledgeBank!
The Community's KnowledgeBank holds the marketing ideas, innovations and insights - contributed by member entrepreneurs, the panel of experts and the THREE LITTLE PIGS CO. Everybody gives -first- to get back!
Read our case study /entrepreneur insights : Mark Bezner, OLYMP shirts in Germany, Mario Polegato, GEOX shoes in Italy, Monica Eisinger , MIND telecommunications solutions in Israel , Gerry Mc Caughey, Century Homes in Ireland and Richard Reed's Innocents Smoothies success story. John O'Dea , serial entrepreneur and CEO of Irish Medical Devices Companies raises the importance of focusing your investment dollars for your eventual exit and Terence Monaghan shares the paralells between Jim Collins 'Good To Great' analysis and his own journey from MBO, through transformation and on to Trade Sale of BetaTHERM Sensors.
Many thanks to the ICFAI Center for Management Research in India for their insightful interviews with two of the marketing greats - Al Ries and Jack Trout , authors of 'The 22 Immutable Laws of Marketing'
Get The Sales Sizzle
Sell the sizzle -not the steak! Find out how your customers value your service product and sell your benefits , not the features!
We also have some of Ken Morse's Sales Insights - Ken is Managing Director of the MIT Entrepreneurship Center and a successful serial entrepreneur.
Entrepreneurs and salepeople share many common characteristics - check it out and see how many of them you have!
The question is often asked - What is the best sales process? Get the answer on the 'Sales Sizzle' page.
Subscribe To GrowthPaths - Join The Community
GrowthPaths is the regular Community Newsletter - updating members about new content in the KnowledgeBank.
Editor is Greg Byrne. greg@marketing4entrepreneurs.org
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Privacy Statement: Marketing 4 Entrepreneurs is committed to protecting the security of your personal information. We know how valuble your contact details and privacy are to you and we use a variety of security technologies and procedures to help protect your personal information from unauthorized access, use, or disclosure. For example, we store the personal information you provide on computer servers with limited access that are located in controlled facilities. Members and subscribers names and addresses will not be divulged to third parties. Spamming will not be allowed. |
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The Winning Marketing Decisions That Grow A Business -How Successful Entrepreneurs Do It
"...It looks like you have covered the ground pretty thoroughly... good luck with the Irish entrepreneurial community"
Professor Joseph B. Lassiter III, Harvard Business School.
find out more
Supporting Entrepreneurs - 10 Year Anniversary !
Greg Byrne and his THREE LITTLE PIGS CO began the journey in January 2000: positioning the Ernst & Young 'Entrepreneur of the Year' Awards Programme as a community development platform for fostering entrepreneurship in Ireland.
In meeting hundreds of entrepreneurs; two things became apparent : many entrepreneurs were doing the right things in 'going to market' with their innovations and new companies - but others were missing pieces of the entrepreneurial marketing jig-saw for success.
Hence the idea for the Book in September 2004 and then this free web resource in September 2005 - Marketing4entrepreneurs.org- for entrepreneurs to share insights, avoid pitfalls and grow their businesses.
Irish Management Institute
Greg is an Associate Lecturer on Entrepreneurial Marketing at the Irish Management Institute on the GROW and BUSINESS DEVELOPMENT Programmes
On the last Friday ( mornings) of every month you can meet Greg Byrne in the DCU Invent Centre . To book , please Email maeve.freeman@invent.dcu.ie
On the last Friday (afternoon) of every month you can meet Greg Byrne in the NovaUCD Innovation & Technology Transfer Centre.
To book , please Email mailto:nova.reception@ucd.ie?
Market Entry Strategy
Brand & Fee Building Techniques for Professional Services Firms
Winning At Exhibitions
Winning Business Plan
Market Attractiveness Assessor
Finding Opportunities For New Products
Mission Statement Template
New Product Development Template
Customer Relationship Calculator
Key Account Relationship Evaluator
Template : Integrated Marketing Communications
Getting Buyer Trust For Your New Product
What do customers buy?
A Brand Architecture To Avoid Confusion
Visit the Three Little Pigs Co.
Many thanks to Harvard for it's working knowledge
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