Welcome to marketing4entrepreneurs.com
The idea behind this dedicated marketing community for Irish and International entrepreneurs is to:
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share insights into winning marketing and sales
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avoid pitfalls and making the same mistakes once!
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get to next level objectives as quickly as possible.
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 2009 GrowthPaths Newsletter - Is Out Now!!
Our Spring edition of GrowthPaths is about entrepreneurial marketing and innovation to spark turnaround.
- High impact entrepreneurs always lead job creation turnaround . Professor Ekko Autio of the Lomdon Business School, at a recent lecture at UCD , demonstrated this fact in previous recession/turnarounds in 1980-86, 1989-95 and 1999-2005. Listen to the podcast and how entrepreneurs create markets for their innovations.
- Don't retreat. Attack! . When the competition is running scared, you want to seize the opportunity for new business and new ideas - they are inviting you to take market share. Michael Maddock and Raphael Louis Viton put forward two strategies.
- Seven strategies for marketers looking to plan ahead. First off, focus on high-potential customers in growth industries where pent up demand is going to be unleashed once the economy turns the corner. Read about all seven from John Quelch , Harvard Business Online.
- Ina recession, consumers look for brands that they know and that support their need to connect with peers. Findings from Forrester's UK Online Consumer Panel and from the 300 European Marketers at Forrester's Consumer Marketing Forum EMEA 2008; are revealing of consumers new intentions and where marketing budgets are being deployed.
- Now, more than ever a key marketing tool is the corporate website. In this edition's toolbox, we have three steps to ensure yours is up to scratch and working hard to attract and land customer business.
The Journey Ahead
Ahead lies The Entrepreneurs 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.
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.
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
Choosing the best way to enter a market is no simple task for entrepreneurs. 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.com
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