What to expect?

• This week’s topic is Marketing Tools and Tactics.
  
• Over 17 years of industry experience (and that’s just me).
• Brainstorm with other women entrepreneurs.
• Get advice and support from the group.
• Space is limited so we can connect and have a great conversation.
• Bring your questions and your ideas.

The Details:

• Wed. June 30th, 2:30 pm – 4:00 pm*
• Esquires Coffee House – they have great coffee, sandwiches or muffins available for purchase.
• 3208 Oak Street, Vancouver. (Oak @16th)
• $15 registration fee.

Please join us for a great conversation on marketing. *please note the new time, 2:30.

The fine Print:

Please provide at least 24 hours notice if you can not make it and I am happy to refund or credit your registration fee.

Lindy defines brand success as the combination of an authentic and differentiating brand promise with a company that is aligned to be a “Promise Delivery System”. How many of us have responded to brand only to find that the experience is something quite different? Yeates Creative uses a three step process.

Step one in the process is having a clear understanding of who you are or what your business is. Ask yourself, what are your core values? What is the purpose of the organization? What are the goals of the organization? What is the business model; how do you make money?

Step two is to determine your positioning. How do you fit into the market and what makes you different? Questions Lindy asked where: What do you want to be famous for? What is your promise? Who is your idea customer? Who are your competition? What is your customer’s buying process and why should they buy from you? What are your primary and secondary brand touch points? List 10 words that describe your company.

Step three, the last step before designing your corporate identity is defining your brand personality. This is the expression of who you are and how you’re strategically positioned in the marketplace.

One of the exercises we did is “If you were…” For example, if you were a vehicle what would you be? If you were a celebrity who would you be? Get as descriptive as you can, tell a story, paint a picture and it will help you get a clearer idea of what you want from your brand.

Lindy did a great job and we had a lot of fun play around with our brands. My advice as always, if you want a professional brand, work with professionals. Start with a solid marketing strategy so you can answer the questions and provide the information and vision a designer needs to create a brand that will work for your business. Also, remember to communicate your brand promise to internally as well as through external marketing.

Happy Branding,

Liz

What to expect?

• This week’s topic is Creating a Powerful Brand.
• Brainstorm other women entrepreneurs.
• Guest speaker, Lindy Yeates.
• Get advice and support from others.
• Space is limited so we can connect and have a great conversation.
• Bring your questions and your ideas.

The Details:

• Wed. June 16th, 2:30 pm – 4:00 pm*
• Esquires Coffee House – they have great coffee, sandwiches or muffins available for purchase.
• 3208 Oak Street, Vancouver. (Oak @16th)
• $15 registration fee.

Please join us for a great conversation on marketing. *please note the new time, 2:30.

The fine Print: 

Please provide at least 24 hours notice if you can not make it and I am happy to refund or credit your registration fee.

Here are the main market segmentations and some points to consider:

Geographic Segmentation

• Local, national or global
• Place of work
• Climate
• Size/ population
• Urban/suburban/rural

Demographic Segmentation

Create a profile of your target customer or the decision maker. If you are targeting businesses include industry, revenue size, number of employees, number of locations, location of HO.

• Age
• Sex
• Income
• Occupation
• Education
• Ethnicity
• Religion
• Life Stage
• Generation
• Household size
• Home ownership

Psychographic Segmentation

• Lifestyle / interests – family, job, community, fashion, recreation, home.
• Attitudes and beliefs – social issues, politics, economic, education, culture, business.
• Activities – hobbies, social, travel, entertainment, community, sport.

Other segmentation methods include Product segmentation (usage, relationship to product, benefits, preferences), Behavioral segmentation (knowledge, attitudes, habits).

Unless you have a bottomless budget you can not reach everyone so go for the customers who will be most interested and most likely to buy. Also consider life stages and generations, as this is trickier now more than ever. Don’t make assumptions, you may find information you didn’t expect for example, women are having babies much later, people in their 70 aren’t retiring and 30 somethings can be living at home. You could uncover an untapped market or a secondary market.

Researching these points will give you a better focus on who your best customer is, what they really want and how to speak to them. Have fun getting to know your customer!

Cheers,

Liz

What to expect?

• This week’s topic is Target Markets.
• Brainstorm other women entrepreneurs.
• Share your insight.
• Get advice and support from others.
• Space is limited so we can connect and have a great conversation.
• Bring your questions and your ideas.

The Details:

• Wed. June 2nd , 2:30 am – 4:00 pm*
• Esquires Coffee House – they have great coffee, sandwiches or muffins available for purchase.
• 3208 Oak Street, Vancouver. (Oak @16th)
• $15 registration fee.

Please join us for a great conversation on marketing. *please note the new time, 2:30.

The fine Print: 

Please provide at least 24 hours notice if you can not make it and I am happy to refund or credit your registration fee.

SWOT Analysis

Once you know your business objective doing a SWOT Analysis is a tool to help you look at your organization and the environment and determine if your objectives are attainable. Beyond identifying what sets you apart, which we looked at in Differentiation, going through this exercise can help identify areas where you are weak compared to your competition, exterior factors that can threaten you business and new opportunities. Consider the external factor of technology, the internet was a huge threat to businesses that had local markets tied up and it was a limitless opportunity for those who wanted to expand their market. What’s happening that can change how you do business?

Strengths
Also referred to as core competencies are the areas where your business is unique or better than the competition. Think brand strength, personnel, patents, product, service, selection, procedure, quality, stability, policies, expertise, access, location or innovation.

Weaknesses
Weaknesses are attributes that may keep you from your objectives. Areas in which your competitors are strong and you are lacking. These can be brand, reputation, experience, pricing/cost, funding, location, undifferentiated product, poor quality or service.

Opportunities
External conditions that benefit your company and help you grow. Things to consider are product, expansion, location, customer needs, trade, technology, distribution chains, related markets, conversions.

Threats
Changes in the marketplace that make reaching your objectives more difficult. These can include consumer demand, competition, technology, regulations, pricing, saturation, suppliers.

As always it’s what you do with the information that matters. I like this table to consider strategies that may come out of your analysis.

What strengths do you have that match the opportunities?
What weakness or threat can be turned into a strength or opportunity?

What to expect?

• This week’s topic is SWOT analysis.
• Brainstorm other women entrepreneurs.
• Share your insight.
• Get advice and support from others.
• Space is limited so we can connect and have a great conversation.
• Bring your questions and your ideas.

The Details:

• Wed. May 19th, 11:30 am – 1:00 pm
• Esquires Coffee House – they have great coffee, sandwiches or muffins available for purchase.
• 3208 Oak Street, Vancouver. (Oak @16th)
• $15 registration fee.

Please join us for a great conversation on marketing.

The fine Print: 

Please provide at least 24 hours notice if you can not make it and I am happy to refund or credit your registration fee.

Here are 6 Steps to Market Research:

1. 1. 1. Be clear on what problem you are trying to solve. What is the question you want answered? Is it “Is there opportunity to expand my business?” “How do I start my business and be successful?” or “Where do I find more clients?”
      2. Know what you are trying to accomplish. Set 1 year and 5 year goals and create a plan. What are some of the areas you need more information on to move forward: Industry trends, competition, target market or product.
      3. Get the information you need. Some information you may already have through experience or current customers. You can go to your network, colleagues, friend or family for information. Use both primary and secondary research.
      4. First collect secondary research. Get the right information from the right source. The Vancouver Public Library’s reference section is great and the Librarians are unbelievably helpful. There is a wealth of data available. Another excellent resource is Small Business BC to help you answer any start up questions and provide training.
      5. The next step is primary research. This can cost time and money but is accurate and specific. This can be qualitative or quantitative, use what is right for your needs or market. Types of primary research are:
         • Observations -watch the competition, your customers’ habits note patterns.
         • Interviews – get insight into attitudes, beliefs, feelings or trends. Allows for feedback.
         • Field tests – get out and sample the product or put it in stores for a trial.
         • Focus groups – provides insight and is conducted by a neutral third party.
         • Survey-can be done in person, by phone, mail or online. People who represent your target market. Can be a fast and inexpensive way to get information.
      6. Bring all the information you’ve collected together. Write for the audience. Is the purpose to get financing? Clearly state your findings and why they are important.

So there you have it. Go to the Library and be a nerd for a day. You’ll be surprised at what you find.

Cheers,

Liz

What to expect?

• This week’s topic is Market Research.
• Meet with other women entrepreneurs to talk marketing.
• Share what has worked for you.
• Ask for advice from others.
• Space is limited so we can connect and have a great conversation.
• Bring your questions and your ideas.

The Details:

• Wed. May 5th, 11:30 am – 1:00 pm
• Esquires Coffee House – they have great coffee, sandwiches or muffins available for purchase.
• 3208 Oak Street, Vancouver. (Oak @16th)
• $15 registration fee.

Please join us for a great conversation on marketing.

The fine Print: 

Please provide at least 24 hours notice if you can not make it and I am happy to refund or credit your registration fee.

What problem/pain do you solve? What is the value to the customer?

What is your competitive advantage? What can you offer that you competition doesn’t?

For many of us we are our business so being in touch with our values can tell us a lot about how to create an authentic business that’s unique to us. Here’s an exercise we did with the group. You can do it with a friend or colleague. Think of a time in your life when you were your happiest. Katie Bennett, DBD Coaching, calls this a ‘peak’ moment in your life. Danielle LaPorte, White Hot Truth asks, what brings you joy? Describe this moment to others and ask them to tell you what they hear. The words that come from this will help identify your values. Now think about how to incorporate these into your business.

Some of the areas of marketing in which you can set yourself apart are:

Packaging – Remember L’eggs?

Advertising and Promotions – KFC coupon giveaway on Oprah, a victim of it’s own success.

Product innovation, feature or design – iPad. Apple is the best at being first to market with innovative products.

Distribution / Availability – Avon, the queen of direct sales.

Market segmentation – High heeled shoes to toddlers. I don’t love this idea but it’s the first example that jumped to mind.

Quality / Price – K-tel, they were the king of cheap products as seen on tv.

Your USP, Unique Selling Proposition can help you communicate what makes you unique. Finish this statement, buy this product and you will get….

FedEx “When your package absolutely, positively has to get there overnight.”

Domino’s “You get fresh, hot pizza delivered to your door in 30 minutes or less – or it’s free.”

Play around with these questions and get clear on what makes you stand out from the crowd.

Shameless Marketing – “Authentic marketing strategies and coaching.”

Cheers,

Liz