Developing a Strategic Marketing Planm

Developing a Strategic
Marketing Plan
Six Steps to Developing a Marketing Strategy

Thursday, June 16, 2016 CONFIDENTIAL 2
Agenda
Today’s Manufacturing and Marketing Landscape
Six Steps to Develop a Marketing Strategy

Three key trends influence the macro
environment of today’s jewelry industry
With consumer appetite for jewelry growing, annual global sales are expected to grow
5-6% annually. With the industry changing rapidly, however, jewelers must be aware of
and prepared for the trends affecting the market.
Globalization and
Consolidation
Growth of Branded
Products
Reconfigured Channel
Landscape
McKinsey, “A multifaceted future: The Jewelry Industry in 2020.”

Globalization and consolidation are putting
pressure on smaller, local jewelers
Globalization and
Consolidation
Growth of Branded
Products
Landscape
12%
Market Share (2013)
24%
Market Share (2020)In 2013, the 10 biggest jewelry
groups captured only 12%
market share, and only Cartier
and Tiffany & Co. were listed in
Interbrand’s Top 100 Global
Brands list. By 2020, however,
this number is expected to
double through the acquisition
of smaller, local players while
national and regional brands
continue to grow globally.

Branded products are becoming increasingly
popular due to the purchasing power of Millenials
Globalization and
Consolidation
Growth of Branded
Products
Landscape
The market share of branded
jewelry doubled from 2003 –
2013 to 20%, and this figure is
expected to grow to 30-40% by
2020. Millenials are using
branded jewelry more to show
off newly acquired wealth.
Future growth is also likely to
come from other industries,
including apparel and high end
leather goods. Ultimately, this
will be hard on small artisans
who lack the marketing power
of larger jewelry groups.

Online sales are continuing to grow, and online
engagement is still on the rise
Globalization and
Consolidation
Growth of Branded
Products
Landscape
Online jewelry sales are 4-5% of
the market today but are
expected to grow to 10-15% of
total sales by 2020 (depending
on region, brand and product
type). It is nevertheless critical
for jewelers to use online
channels to share information,
shape brands, and engage
customers to form long-term
relationships.
66%
of luxury shoppers conduct online research before
making a purchase.
30-60%
of customers turn to social media for information
or advice.

Brand manufacturers are increasingly going digital
Marketers are
increasingly
prioritizing
mobile and
social over
traditional ad
channels. There
is also increased
focus on owned
and earned
media over paid.
Booz Allen Hamilton Strategy& 2013, “Reimagining shopper marketing.”

Given this background, what is a manufacturer
to do?
Maintain the status quo Develop a strategic marketing plan
Continue to market using a bucket shot
approach that is neither holistic nor
comprehensive in manner
Develop a robust strategic plan that
establishes a solid and actionable foundation
for your growth objectives. Conduct research,
solidify marketplace positioning, select
appropriate tactics, and chart out a detailed
implementation plan

Agenda
Six Steps to Develop a Marketing Strategy

Developing a strategic plan can be broken down
into six steps
Research1
Messaging & Positioning2
Tactical Deep Dive3
Asset Development4
Metrics Dashboard5
Tactical Implementation6

Step 1: Execute in-depth research to direct your
strategy
Detailed audit and
discovery
In-depth strategic
market research
Conduct an in-depth discovery of your business. Talk to internal employees, key
stakeholders, current customers and past customers. Deep dive into past and
current marketing campaigns, analyze your existing assets and identify your core
competencies.
Audit key players and competitors in your industry to identify opportunities and
threats along with key points of differentiation.
Competitor
research
Gather and process secondary data from free and paid industry research
reports and online research to develop a clear understanding of market
segments, partnership opportunities and market sizing.
Rigorous research enables you to have a much clearer understanding of your market
positioning and the short and long-term opportunities that you find most attractive to
pursue.

Step 2: Define your messaging and positioning
based on your market research
Your partner in achieving professional
excellence
Access to Expertise Network of Suppliers
Advocacy and
Industry Support
Upon the completion of research, arrive at a value proposition that defines the primary
reason(s) why a customer should buy from you. All team members should understand
their role in delivering value

Segment your message by market or audience
Messaging created for specific attribute groups can be featured in group-specific assets,
such as brochures, landing pages, and flyers. In the era of engagement, consumers
expect a personalized experience.
Segmented messaging will appeal to different types of prospects.
Jewelry manufacturersJewelry designers
Jewelry hobbyistsRetailers

Step 3: Identify and narrow the list of marketing
channels you will pursue upfront
Once you’ve
defined the
message and value
of your product,
you will need to
outline how you
will communicate
this using different
marketing tactics,
and how you will
distribute your
product over
multiple channels.
Deep dive into a comprehensive
list of marketing channels you
could implement.
Explore strategic partnerships to
achieve online and global scale.
Don’t forget about exploring
online properties, not just tactics
or partnerships
Google Ads, SEO, Email, Social
Media, Events, Direct Mail,
Traditional Media, Online Display,
Content Marketing
Amazon, eBay,
Alibaba
Omni-brand vs. multi-
brand, online vs.
offline partnerships,
affiliate vs. direct

Make sure that you define specific goals for each
of your channels and partnerships
Website
Optimization
Social Media
Marketing
Events
Tactics How will Company X increase leads?
- Content production & sharing
- Search Engine Optimization
- Profiles optimization
- Display ads
- Content sharing (speech…)
- Meeting booking + follow up
What’s in it for Company X ?
- Higher web traffic
- More relevant web traffic
- Company X brand boost
- Automated lead generation
- Thought leadership exposure
- Access to a global audience
Paid Search
- Support to web optimization
- Short term promotion support
- Low cost intelligence => higher
landing page conversion
Cadenzza, YOOX
Group
- Strategic partnership
- Use of mono-brand services
- Increased volume of traffic to multi-
brand site
- Improved collateral from mono-
brand support
By setting goals per channel, you will be able to track and benchmark your success
while staying on track (as other marketing opportunities will inevitably come up).

Step 4: Develop assets with your new message to
support your marketing channels
Website &
Messaging
Improving design and incorporating new messaging to transform your company’s current site into a
dynamic platform for fresh content and a lead generation tool
Videos Leverage client testimonial and overview videos to strengthen relevancy and prospect conversion
Case studies &
white papers
Build out white papers and case studies to position your company as a thought leader
Email Templates
Sales pitch decks
Design and build out modular sales deck with Company X branding and story to strengthen
credibility and to communicate value proposition
Custom trade
show booth panels
Leverage custom booth panels to improve relevance to target audience
LinkedIn
Build out custom email templates to strengthen e-newsletter credibility and any client touch point
Build out LinkedIn company page with associated service offerings and company information

High quality, specific assets will be needed as a
foundation for each channel

You can’t always judge the ROI of your assets,
but that shouldn’t stop you from investing
59% According to Forbes, 59% of executives would rather watch
video than read text
69% According to Cisco, Internet video traffic will comprise 69% of
all global consumer Internet traffic in 2017
1200% Videos are shared 1,200% more times than links and text
combined (Orion 21 Reports)
Videos may be some of your most expensive assets, but they drive engagement and
are quickly becoming one of the most important marketing tools.

Step 5: Develop key metrics to track and measure
the impact of your marketing initiatives
# of Marketing Generated Leads
Number of In-Person New Business
Visits
Lead Close Time
# of Self Generated Leads
# Leads Closed
Lead/ Closed Ratio Ratio of marketing generated leads to the number of actual sales
Total number of new customers brought on for each month
Track the leads your sales team is sourcing through personal outside
contacts
Amount of time from lead sourcing to lead closing, lower measurement is
better
Number of times a salesperson goes out to meet with new potential leads
Total number of leads by marketing tactic
Without KPI’s that are set ahead of time and continuously monitored, marketing
campaigns will fall short.
KPI Description

Identify general KPIs as well as specific metrics by
channel
May 2014
Apr. 2014 New Customers
May 2014 New Customers 3
M/M Overall Performance 100%
Total Apr. 2014 Sales
Total May 2014 Sales 332,517$
M/M Overall Performance 100%
Sales & Promotion Sales & Promotion Sales & Promotion
May. 2014 Apr. 2014 % Change
Total List Size (to date) 816 827 -1%
Opt Outs (Month) 3 6 100%
Emails Deployed (Month) 1 1 0%
Open Rate 20.30% 22.60% -11%
CTR 15.60% 20.90% -34%
Bounce Rate 4.00% 3.00% 25%
Subject Line May Discount Deals from Atlantic Paper April Promotional Items From Atlantic Paper
APS Monthly Newsletter APS Monthly Newsletter APS Monthly Newsletter
Total List Size (to date) 813 821 -1%
Opt Outs (Month) 3 3 0%
Emails Deployed (Month) 1 1 0%
Open Rate 21.50% 18.80% 13%
CTR 14.70% 23.50% -60%
Bounce Rate 3.00% 3.00% 0%
Subject Line
Atlantic Paper's Customers Redeem
Their Rewards Points
Atlantic Paper's Newsletter - April Edition
Opportunities from Email Campaign
Results May. 2014 Apr. 2014 % Change
Number of Follow Up Calls 7
Number of Phone Calls that Resulted in Quote 1
Number of Phone Calls that Converted to Customers 0
Email Marketing
Newsletter
Sales and Promotions
* Note the Google Analytics tool was down for the majority of May 2014
Number of Visits 242 674 -64%
Number of Unique Visitors 202 374 -46%
Number of Page Views 242 1,508 -84%
Number of Pages/Visit 2.24 2.24 0%
Avg. Visit Duration 1:43 2:25 -29%
Bounce Rate 65.00% 62.46% 4%
% New Visits 75.00% 49.55% 51%
Opportunities from Website (calls) 0 0 0%
Results - Website May. 2014 Apr. 2014 % Change
Number of Phone Calls from People Saying They
Found APS via Website
6
Number of These Calls that Resulted in a Quote 3
Number of These Phone Calls that Converted to a
Customer
1
Number of Live Chats 3
Number of Live Chats that Resulted in a Quote 1
Number of Live Chats that Converted to a Customer
0
Google Analytics
Month-over-Month
Cost $1,249.84 $303.77 76%
Average CPC $4.46 $4.22 5%
Total Clicks 280 72 74%
Total Impressions 22,978 3,674 84%
Click-through-Rate 1.22% 1.96% -61%
Average Position 3 2.5 17%
Paid Search

Step 6: Create a detailed implementation plan to
ensure execution takes place
Without setting a detailed timeline for your growth plan, you may have grand ideas
that are never implemented.

Creating a unified marketing calendar for your team
will help ensure proper project management
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 1 2 3 4
EXAMPLE – June 2015
Product
Feature Email
= Email
= Event
= Social Media
Networking Event
Calendars were
developed for all
major marketing
activities to tie
activities to deadlines
and launch dates,
ensure the
organization is on the
same page for all lead
generation projects
TBT
Product
Feature Email
TBT
TBT
TBT Networking Event
Facebook
post
Facebook
post

Be careful to avoid these myths about execution
Harvard Business Review, Why Strategy Execution Unravels – and What to Do About It
Execution equals
alignment
While most businesses are aligned within each unit, the alignment breaks
down across functions and business units. It is important to provide structure
when coordinating cross-functional work to prevent time delays and waste.
“Just over half of all top team members say they have a clear sense of how
major priorities and initiatives fit together.” Ensure your employees understand
your messages well enough to communicate them in their own words.
Communication
equals
understanding
“Concentrating power at the top may boost performance in the short term, but
it degrades and organization’s capacity to execute over the long run.” Execution
should be driven by middle managers, and guided by the top.
Execution should be
driven from the top
Myths Solutions

To summarize: the six step process
Research1
Messaging & Positioning2
Tactical Deep Dive3
Assets Needed4
Marketing Dashboard w/ KPIs5
Implementation Schedule6

Thursday March 29th 2012 25
Ultimately, the success of your marketing strategy
will depend on your team
Instill a client-centric culture
Take note of your favorite sports team
Surround yourself with ‘A’ players
Happy employees = happy clients
Surround yourself with employees who are motivated, who truly believe in
marketing and who exceed client expectations

Agenda
Six Steps to Develop a Robust Marketing Strategy

Thank you
“Because the purpose of
business is to create a
customer, the business
enterprise has two – and
only two – basic
functions: marketing and
innovation. Marketing
and innovation produce
results; all the rest are
costs. Marketing is the
distinguishing, unique
function of the business.”
– Peter Drucker

Thursday, June 16, 2016Thursday, June 16, 2016
Thank You
For additional information, visit
TribalVision.com

Developing a Strategic Marketing Planm

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Ähnlich wie Developing a Strategic Marketing Planm

Ähnlich wie Developing a Strategic Marketing Planm (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

Developing a Strategic Marketing Planm