Slides from a seminar for Artists wishing to know more about developing a marketing strategy or maximizing social media. Part of "The Business of Art" 2011 workshop series presented by the Richmond Hill Small Business Enterprise Centre (RHSBEC).

1. The Business of Art: Developing
a Marketing Strategy
- Maximize Social Media
Bhupesh Shah, B.Sc., MBA | ethnicomm inc.
October 27h, 2011

2. Agenda – Develop a Marketing Strategy
Identifying The Importance
Marketing
market of
Strategy
segments Differentiation
The Impact of
pricing and Maximizing your Avoiding
promotion on ROI pitfalls
your business
© 2011 ethnicomm inc.

3. Agenda – Maximize Social Media
Your brand Bring clients in Open up
Maximize
Expose yourself
everything
© 2011 ethnicomm inc.

4. Why
are you
in
business?
Image source: http://www.successwallpapers.com © 2011 ethnicomm inc.

5. What
is
your
purpose?
Image source: http://www.successwallpapers.com © 2011 ethnicomm inc.

6. Why is
developing a
MARKETING
STRATEGY
so important?
© 2011 ethnicomm inc.

7. What's the use of running
if you are not
on the right
road?
German proverb
Source: http://www.flickr.com/photos/laurelfan/

8. 50%
of business
failures are
“due to
poor management
or weak marketing
capabilities”
Source: http://www.statcan.gc.ca/bsolc/olc-cel/olc-cel?catno=61-525-X&lang=eng © 2011 ethnicomm inc.

9. Marketing vs. Sales
Marketing
lets potential buyers know about your
products/services …that you exist!
It creates a sales opportunity.
Sales
converts the potential customer
to an a c t u a l c u s t o m e r.
© 2011 ethnicomm inc.

10. Developing a Marketing Strategy
© 2011 ethnicomm inc.

11. Developing a Marketing Strategy
What you will sell
© 2011 ethnicomm inc.

12. Developing a Marketing Strategy
What you will sell
What you will charge
© 2011 ethnicomm inc.

13. Developing a Marketing Strategy
What you will sell
What you will charge
How you will sell
© 2011 ethnicomm inc.

14. Developing a Marketing Strategy
What you will sell
What you will charge
How you will sell
To whom you will
sell © 2011 ethnicomm inc.

15. What is your
product/service?
Is it innovative? Does it
reduce costs? Save time?
Make life easier?
Why will customers want
to buy your product/
service?
What is your competitive
advantage or unique
selling proposition
(USP)?
Source: http://www.flickr.com/photos/yummy1986/
Image source: http://www.flickr.com/photos/yummy1986/ © 2011 ethnicomm inc.

16. Having the lowest price is not
always the best strategy.
How do you want to be
viewed in the
marketplace?
Consistency with
your brand and positioning
is important.
© 2011 ethnicomm inc.

17. location, location, location
but
if nobody knows
who you are or where you are…
Source: http://www.flickr.com/photos/bensonkua/ © 2011 ethnicomm inc.

18. © 2011 ethnicomm inc.

19. Who is your target? Everyone?
What is competing for your
potential customer’s money?
What are the needs of your
potential customer?
© 2011 ethnicomm inc.

20. Finding your
niche
Can you satisfy a
currently unsatisfied demand?
Can you do it better?
© 2011 ethnicomm inc.

21. How do
I do
this
Image source: http://www.flickr.com/photos/dreamsjung/ © 2011 ethnicomm inc.

22. Identifying market segments – demographic
Gender Age
© 2011 ethnicomm inc.

23. Identifying market segments - geographic
Image source: http://www.york.ca/ © 2011 ethnicomm inc.

24. Identifying market segments - psychographic
(personality, attitudes, values, and lifestyles)
Top Guns: Ambition, power, control
Porsche
Elitists: Old money, car is just a car
Proud Patrons: Car is reward for hard work
Bon Vivants: Car is for excitement, adventure
Fantasists : Car is form of escape
Source: http://www.scribd.com/doc/13138719/Porsche-Psychological-Segmentation; Image Source: http://www.madgene.com © 2011 ethnicomm inc.

25. Identifying market segments - behaviour
user of competitor’s
products/services
users
non-users
ex-users
first-time users
regular users
© 2011 ethnicomm inc.

26. Identifying market segments – benefits sought
the problem a
product solves
the benefit it offers
the issue it
addresses
© 2011 ethnicomm inc.

27. Differentiating
Show your clients
that you can do
what no other
artist can do.
© 2011 ethnicomm inc.

28. Exercise: How do you differentiate
yourself from others?
© 2011 ethnicomm inc.

29. Product Features
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

30. Product Quality – performance and conformance
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

31. Product Style ~ Design
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

32. Services – before and after sales
Ordering ease ~ Delivery ~ Installation
Training ~ Advice
Misc. services
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

33. Personnel that interact with the client
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

34. Distribution Channel
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

35. Image - do you stir the hearts as well as the
minds of your clients?
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

36. Do NOT… plan to compete
on price
alone
© 2011 ethnicomm inc.

37. Group Exercise:
How do you
shop?
© 2011 ethnicomm inc.

38. Ways of Positioning
Attribute: The
message highlights Product category:
Quality/Price: Claim
one or two of the Claim as the best in
best value for price.
attributes of the a product category.
product.
Benefit: The
Competitor: Claim
message highlights
that the product is
one or two of the
better than a
benefits to the
competitor.
customer.
Use/application:
User: Claim the
Claim the product
product as best for
as best for some
a group of users.
application.
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

39. Maximizing your ROI
SWOT
Focus on what you’re good at
80:20 rule
Execution
Measurement
Tweaking
© 2011 ethnicomm inc.

40. SWOT Analysis to prioritize and focus your
efforts
Internal
Weaknesses of your
Strengths of your
company, products/services
company, products/services
that put you in a
that give you an advantage
disadvantage relative to
over others in the industry
others in the industry
External
Market
Opportunities for your Threats to your company
products/services
External to the organization – macroenvironment; customer; competition; trends...
© 2011 ethnicomm inc.

41. Avoiding Pitfalls – segmentation and targeting
Too b r o a d | Too narrow
Incompatible with
company
objectives
Targeting the
wrong group
© 2011 ethnicomm inc.

42. Avoiding Pitfalls – assuming things
You know what your
customer needs better
than your customer
knows what
they need!
You’re better than
your competitor(s)
© 2011 ethnicomm inc.

43. Avoiding Pitfalls – poor positioning
Underpositioning: Market only has a vague idea
of the product.
Overpositioning: Only a narrow group
of customers identify with the product.
Confused positioning: claiming
too many benefits or changing
the claim too often.
Doubtful positioning:
product’s features, price, or
manufacturer inconsistent.
Source: Philip Kotler, Marketing Management 13 th edition © 2011 ethnicomm inc.

44. “marketing
inertia”
inability to
adapt to
market
changes
Thomas Bonoma (Harvard)
© 2011 ethnicomm inc.

45. Maximize Social Media
© 2011 ethnicomm inc.

46. Social Media for creatives
© 2011 ethnicomm inc.

47. Social Media for creatives
© 2011 ethnicomm inc.

48. Social Media for creatives
© 2011 ethnicomm inc.

49. Social Media for creatives
© 2011 ethnicomm inc.

50. Social Media for creatives
© 2011 ethnicomm inc.

51. Social Media for creatives
© 2011 ethnicomm inc.

52. Social Media for creatives
© 2011 ethnicomm inc.

53. Social Media for creatives
© 2011 ethnicomm inc.

54. Social Media for creatives
Source: http://mariakelemen.blogspot.com/2011/06/late-summer-in-richmond-hill.html © 2011 ethnicomm inc.

55. Trust-based Relationships
Advertising/
Promotions
Publicity
(PR)
WOM
© 2011 ethnicomm inc.

56. Build your online
‘personal’ brand
give
share
help
engage
© 2011 ethnicomm inc.

57. Bring clients in
connect/network
within and
outside of your
industry
make your
website the
central point but
reach out
make your
creative works
accessible by
everyone
© 2011 ethnicomm inc.

58. Expose yourself
Tell people about yourself and your work
Open yourself up to comments/criticism
Show your portfolio
Post/share your work
Demonstrate your
creative skills
Source: http://www.flickr.com/photos/heddaselder/ © 2011 ethnicomm inc.

59. Maximize everything
Social media is just a tool
Use offline and online presence to build your
business
© 2011 ethnicomm inc.

60. Twitter: @ethnicomm
Facebook: ethnicomm
LinkedIn: bgshah
info@ethnicomm.com
416.720.1205 | 888.927.8881