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Customer Driven Marketing - a one day lecture and workshop

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November 2015 Dr. Ute Hillmer
ACustomer Driven Marketing
Strategy: Creating and capturing
CUSTOMER VALUE in an
Online/Offline World
“Ourageofanxietyistheresultof
doingtodaysjobswithyesterdays
technology“
M.McLuhan
November 2015 Dr. Ute Hillmer
WHO is Dr. Ute
Hillmer? anexpertinpositioningandpromotingtechnology
products,withacarvingforinnovativeproductsthat
arenotself-explaining.
Withsuchproducts,humanbehaviorisoftenoutsidethe
boundariesofrationality-despiteitseconomiccontext.
Buyingbehaviorisheretypicallyaresultofsocial,cognitive
andemotionalfactors,alongwiththeeconomicones.
November 2015 Dr. Ute Hillmer
What did Ute do?
• 27 years of international marketing (HP, CoCreate, MFG Innovation
Agency State of BW, Better Reality Marketing)
• Dissertation in business administration, behavioral economics in
technology marketing: Technology Acceptance in Mechatronics
• Worldwide company and product communication;
mainly 3 continents (America, Europe, Asia)
• Product-, program-, channel-, partner marketing, marketing
communication, branding, positioning
• Responsible for operative, strategic + corporate marketing, branding,
sales training
• Experienced in large corporations, SMEs and freelance work as well as
political institutions.
• Responsible for the first international website of Hewlett Packard in 1993
November 2015 Dr. Ute Hillmer
What’s Ute’s
STORY?Iaminbusinessto change
thelivesofmytechnology
clientsbyfindingthem
hungrycustomers that get
them intosustainablegrowth!
November 2015 Dr. Ute Hillmer
and turn their customers into raving fans!
November 2015 Dr. Ute Hillmer
To take the most
out of this lecture
… be in
STATE!

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! Customer driven marketing 151204

  • 1. November 2015 Dr. Ute Hillmer ACustomer Driven Marketing Strategy: Creating and capturing CUSTOMER VALUE in an Online/Offline World “Ourageofanxietyistheresultof doingtodaysjobswithyesterdays technology“ M.McLuhan
  • 2. November 2015 Dr. Ute Hillmer WHO is Dr. Ute Hillmer? anexpertinpositioningandpromotingtechnology products,withacarvingforinnovativeproductsthat arenotself-explaining. Withsuchproducts,humanbehaviorisoftenoutsidethe boundariesofrationality-despiteitseconomiccontext. Buyingbehaviorisheretypicallyaresultofsocial,cognitive andemotionalfactors,alongwiththeeconomicones.
  • 3. November 2015 Dr. Ute Hillmer What did Ute do? • 27 years of international marketing (HP, CoCreate, MFG Innovation Agency State of BW, Better Reality Marketing) • Dissertation in business administration, behavioral economics in technology marketing: Technology Acceptance in Mechatronics • Worldwide company and product communication; mainly 3 continents (America, Europe, Asia) • Product-, program-, channel-, partner marketing, marketing communication, branding, positioning • Responsible for operative, strategic + corporate marketing, branding, sales training • Experienced in large corporations, SMEs and freelance work as well as political institutions. • Responsible for the first international website of Hewlett Packard in 1993
  • 4. November 2015 Dr. Ute Hillmer What’s Ute’s STORY?Iaminbusinessto change thelivesofmytechnology clientsbyfindingthem hungrycustomers that get them intosustainablegrowth!
  • 5. November 2015 Dr. Ute Hillmer and turn their customers into raving fans!
  • 6. November 2015 Dr. Ute Hillmer To take the most out of this lecture … be in STATE!
  • 7. November 2015 Dr. Ute Hillmer Agenda1. Marketing Today: the new Buying Decision Process 2. Creating and Capturing Customer Value 3. Your Ideal Customer 4. Positioning for the Ideal Customer 5. Create your Value Proposition Creating and capturing CUSTOMER VALUE!
  • 8. November 2015 Dr. Ute Hillmer Marketing + Sales Today: a New Buying Decision Process
  • 9. November 2015 Dr. Ute Hillmer Role-play to discover: “Has Marketing changed?” “Must Marketing change?”
  • 10. November 2015 Dr. Ute Hillmer Funnel-Metaphor for a Buying Decision active evaluation many brands Grafik close to Edelman 2010 buying decision Initial considerationTrigger lesser and lesser brands What brand creates the most value to me/us right now and in the future?
  • 11. November 2015 Dr. Ute Hillmer Digitally supported Buying Decision active Evaluation Post-Sales Experience Enlarged Evaluation Ambassador Loyalty Loop Active Evaluation Model close to Edelman 2010, p.65 Moment of Purchase Initial Consideration Trigger What brand creates the most value to me/us right now and in the future?
  • 12. November 2015 Dr. Ute Hillmer Information Sources Today The 2014 B2B Buyer Behaviour Survey
  • 13. November 2015 Dr. Ute Hillmer 2014 B2B Buyer Behavior Survey • Web search is the top source of information • B2B buyers strategically browse social media • The number of sources used to research and evaluate purchase has increased • There is an increased awareness of purchase options • The evaluation process is longer and more satisfying DemandGen Report Survey 2014
  • 14. November 2015 Dr. Ute Hillmer What Role does Social Media Play? The 2014 B2B Buyer Behaviour Survey
  • 15. November 2015 Dr. Ute Hillmer The Core Consequences 1. Consumers and buyers connect with brands in fundamentally new ways – often beyond manufacturers’ or dealers' control. 2. They evaluate a shifting array of options during the evaluation process and remain engaged with the brand after purchase. 3. Customers can have as much information and knowledge, as vendors do. Its no longer about “information” it’s about creating and capturing CUSTOMER VALUE! You need a customer driven marketing strategy!
  • 16. November 2015 Dr. Ute Hillmer Customer Driven Marketing – What does that mean?
  • 17. November 2015 Dr. Ute Hillmer From Product- Focus to Customer Focus Product Price Place Promotion Customer Needs Customer Cost Convenience / Access Communication McCarthy: Basic Marketing: A managerial approach, 1960 Schullz, Stanley I. Tannenbaum, Robert F. Lauterborn, Integrated Marketing Communications, 1993
  • 18. November 2015 Dr. Ute Hillmer From Product- Focus to Customer Focus • Making a sale • Abundance of products in the nearby shopping centers • Television, magazine, and direct-mail ads • Satisfying customer needs • Imaginative Web sites and mobile phone apps, blogs, online videos, and social media • Reach customers directly, personally, and interactively Traditional View Contemporary View Kotler, Armstrong 2014
  • 19. November 2015 Dr. Ute Hillmer Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014 Marketing: Creating Customer Value and Engagement Amazon.com’s deep-down passion for creating customer engagement, value, and relationships has made it the world’s leading online retailer. Amazon has become the model for companies that are obsessively and successfully focused on delivering customer value.
  • 20. November 2015 Dr. Ute Hillmer • Objective 1: Understand the fundamental change in marketing • Objective 2: Identify the key elements of a customer-driven marketing strategy • Objective 3: Apply the steps of a customer driven marketing strategy to your project Learning Objectives Marketing: Creating Customer Value and Engagement
  • 21. November 2015 Dr. Ute Hillmer TheAim of Marketing • Marketing involves creating value for customers and building strong customer relationships in order to capture value from customers in return. • Goals: – Attract new customers by promising superior value – Keep and grow current customers by delivering satisfaction – influence the buyer and buying center in the place and at the moment when they are most open on their way to brand choice and a buying decision Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 22. November 2015 Dr. Ute Hillmer The Marketing Process Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014 What is a prerequisite to create Customer Value?
  • 23. November 2015 Dr. Ute Hillmer Customer Needs, Wants and Demands Understanding the Marketplace and Customer Needs • States of felt deprivation • Physical needs - food, clothing, warmth, and safety • Social needs - belonging and affection • Individual needs - knowledge and self-expression Needs • Form taken by human needs when shaped by culture and individual personality Wants • Human wants that are backed by buying power Demands Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 24. November 2015 Dr. Ute Hillmer • Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. Designing a Customer Value-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Learning Objective Marketing: Creating Customer Value and Engagement Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 25. November 2015 Dr. Ute Hillmer This is a 2 Day Work Session on Customer-Driven Marketing Strategy Day 1: Designing a Customer Value-Driven Marketing Strategy 1. Selecting customers to serve – Find your Ideal Customer 2. Creating value for these selected customers – Define the Value Proposition Day 2: Effectively communicate Customer Value – Define a (digital) launch plan Applying the 20/80 rule to this marketing lecture …
  • 26. November 2015 Dr. Ute Hillmer What does that mean for you: Market + sell YOUR PROJECT in your Internal and/or External Market
  • 27. November 2015 Dr. Ute Hillmer • What is your business goal for the PSA 3? • What is your business goal for the Master Thesis? • What is so important about the goal? • Why is it important? • Ultimately, what would having that do for you? Task: Your WHY! Write it down on a sheet of paper for you!
  • 28. November 2015 Dr. Ute Hillmer PSA3:GoalDefinition+ Communication Planning
  • 29. November 2015 Dr. Ute Hillmer Creating Value for Customers • Market Segmentation • Targeting • Differentiation • Positioning Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong cartoon: fotalia
  • 30. November 2015 Dr. Ute Hillmer ContrastingSellingandMarketingConcepts Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 31. November 2015 Dr. Ute Hillmer Marketing Management in a Customer Driven Marketing Strategy Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 32. November 2015 Dr. Ute Hillmer Designing a Customer Value-Driven Marketing Strategy Marketing Management is the art and science of choosing target markets and building profitable relationships with them. – What customers will we serve? – How can we best serve these customers? Market Segmentation refers to dividing the markets into segments of customers. Target Marketing refers to which segments to go after. 1. Selecting Customers to Serve Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 33. November 2015 Dr. Ute Hillmer Task: What do you „Sell“
  • 34. November 2015 Dr. Ute Hillmer Segmenting a Market
  • 35. November 2015 Dr. Ute Hillmer What is Market Segmentation? Market segmentation requires dividing a market into smaller segments with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Kottler, Armstrong 2014 Segmentation is used to identify and further define your ideal customer
  • 36. November 2015 Dr. Ute Hillmer • Segmenting consumer markets? • Segmenting business markets? • Segmenting international markets? • Effective segmentation? Criterias for
  • 37. November 2015 Dr. Ute Hillmer Segmenting Consumer Markets • The big 4 Geographic segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation Copyright © 2016 Pearson Education, Inc.
  • 38. November 2015 Dr. Ute Hillmer GeographicSegmentation RegionsfollowingACNielsen Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, cities, or even neighborhoods.
  • 39. November 2015 Dr. Ute Hillmer DemographinSegmentation Sinusmilieu Demographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
  • 40. November 2015 Dr. Ute Hillmer DemographinSegmentation Age,Gender,Income,… Age and life-cycle stage segmentation divides a market into different age and life-cycle groups. Gender segmentation divides a market into different segments based on gender. Income segmentation divides a market into different income segments.
  • 41. November 2015 Dr. Ute Hillmer PsychographicSegmentation Sinusmilieu Psychographic segmentation divides a market into different segments based on social class, lifestyle, or personality characteristics.
  • 42. November 2015 Dr. Ute Hillmer BehavioralSegmentation Behavioral segmentation divides a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product. • Occasions • Benefits sought • User status • Usage rate • Loyalty status Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 43. November 2015 Dr. Ute Hillmer Task: Consumer Market Segmentation for GoPro
  • 44. November 2015 Dr. Ute Hillmer Discussion on Segmenting Consumer vs. Business Markets
  • 45. November 2015 Dr. Ute Hillmer Segmenting Business Markets • Consumer and Business have many of the same segmenting variables. Additional variables include: Customer Operating Characteristics Situational Factors Purchasing Approaches Personal Characteristics Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong Geographic segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation
  • 46. November 2015 Dr. Ute Hillmer Segmenting International Markets Geographic location Economic factors Political and legal factors Cultural factors Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 47. November 2015 Dr. Ute Hillmer Intermarket segmentation involves forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries. 7-21 Segmenting International Markets Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 48. November 2015 Dr. Ute Hillmer Task: Market Segmentation for UPS
  • 49. November 2015 Dr. Ute Hillmer Requirements for Effective Segmentation Measurable Accessible Substantial Differentiable Actionable Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 50. November 2015 Dr. Ute Hillmer When Segmenting Markets, watch out for: Measurability • “otherwise the scheme will not be operational” • next to impossible in some markets, hard in most markets => most companies use qualitative and intuitive methods Substantiality • “the variable should be relevant to a substantial group of customers” • Challenge: find the right size / balance: large group segment: risk of diluting effectiveness • Too small: you lose the benefits of economies of scale • Sometime one large customer Operational Relevance (Actionable) • Segmentation should enable to offer the suitable product/service to the chosen segment, e.g. faster delivery service, special 24-hour technical support, etc. Source: Webster, 2003
  • 51. November 2015 Dr. Ute Hillmer Market Targeting
  • 52. November 2015 Dr. Ute Hillmer Selecting Target Market Segments . . . . .. . . A target market is a set of buyers who share common needs or characteristics that the company decides to serve.
  • 53. November 2015 Dr. Ute Hillmer Undifferentiated marketing targets the whole market with one offer • Mass marketing • Focuses on common needs rather than what’s different Copyright © 2016 Pearson Education, Inc. Selecting Target Market Segments
  • 54. November 2015 Dr. Ute Hillmer Differentiated marketing targets several different market segments and designs separate offers for each. • Goal is to achieve higher sales and stronger position • More expensive than undifferentiated marketing Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 55. November 2015 Dr. Ute Hillmer Concentrated marketing targets a large of a smaller market • Limited company resources • Knowledge of the market • More effective and efficient Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 56. November 2015 Dr. Ute Hillmer Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. • Local marketing • Individual marketing Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 57. November 2015 Dr. Ute Hillmer Local marketing involves tailoring brands and promotion to the needs and wants of local customer segments. • Cities • Neighborhoods • Stores Copyright © 2016 Pearson Education, Inc. 7-32 Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 58. November 2015 Dr. Ute Hillmer Individual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers. • Also known as: – One-to-one marketing – Mass customization Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 59. November 2015 Dr. Ute Hillmer Choosing a targeting strategy depends on • Company resources • Product variability • Product life-cycle stage • Market variability • Competitor’s marketing strategies Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 60. November 2015 Dr. Ute Hillmer Socially Responsible Target Marketing • Benefits customers with specific needs • Concern for vulnerable segments Selecting Target Market Segments Copyright © 2016 Pearson Education, Inc.
  • 61. November 2015 Dr. Ute Hillmer • What different market segment strategies are of relevance in your master thesis project? • What are 3-5 relevant market segments that you could target in your internal and/or external communication? • Prioritize your market segments and make a short note on your decision criteria. Task: Your Market Segmentation
  • 62. November 2015 Dr. Ute Hillmer Segmenting by Buying (User) Behavior
  • 63. November 2015 Dr. Ute Hillmer Consumer buyer behavior is the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption. Consumer markets are made up of all the individuals and households that buy or acquire goods and services for personal consumption. Consumer Markets and Buyer Behavior Copyright © 2016 Pearson Education, Inc.
  • 64. November 2015 Dr. Ute Hillmer Model of Consumer Behavior Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 65. November 2015 Dr. Ute Hillmer 5-10 CharacteristicsAffecting Consumer Behavior Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 66. November 2015 Dr. Ute Hillmer Business Markets and Business Buyer Behavior Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. The business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands. Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 67. November 2015 Dr. Ute Hillmer Business buyers usually face more complex buying decisions than do consumer buyers. Compared with consumer purchases, a business purchase usually involves: • More decision participants • More professional purchasing effort • More buyer and seller interaction The Buying Unit Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 68. November 2015 Dr. Ute Hillmer MajorTypes of Buying Situations Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong
  • 69. November 2015 Dr. Ute Hillmer User Typologies „Personas“
  • 70. November 2015 Dr. Ute Hillmer Archtypes: Roger’s InnovationAdopter Categories Foto by: ehoyerEverett Rogers, 1995 “Diffusion of Innovations”
  • 71. November 2015 Dr. Ute Hillmer Time Marketsize technology life cycle and its buyer categories Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Chart based on Rogers 1995, p. 262 and Moore 1999, p. 12
  • 72. November 2015 Dr. Ute Hillmer Persona: Techy Time Marketsize Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Chart based on Rogers 1995, and Moore 1999
  • 73. November 2015 Dr. Ute Hillmer Time Marketsize Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Persona: Visionary Chart based on Rogers 1995, and Moore 1999
  • 74. November 2015 Dr. Ute Hillmer Time Marketsize Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Persona: Pragmatist Chart based on Rogers 1995, and Moore 1999
  • 75. November 2015 Dr. Ute Hillmer Time Marketsize Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Persona: Conservative Chart based on Rogers 1995, and Moore 1999
  • 76. November 2015 Dr. Ute Hillmer Time Marketsize Laggards 16% Late Majority 34% Early Adopters 13,5% Early Majority 34% Innovators 2,5% Personas: Laggard Chart based on Rogers 1995, and Moore 1999
  • 77. November 2015 Dr. Ute Hillmer LaggardsLate Majority Early Adopters Early Majority Innovators Mainstream Behaviour Increasingly conforming behaviour Hillmer, Technology Acceptance in Mechatronics, 2009 Zeit Marktgröße
  • 78. November 2015 Dr. Ute Hillmer LaggardsLate Majority Early Adopters Early Majority Innovators Individualistic Behaviour Increasingly individualistic behaviour Zeit Marktgröße Hillmer, Technology Acceptance in Mechatronics, 2009
  • 79. November 2015 Dr. Ute Hillmer Archtypes: Schein’s CareerAnchors Foto by: ehoyer Edgar H. Schein, 2006 “Career Anchors”
  • 80. November 2015 Dr. Ute Hillmer Technical / Fictional Competence Foto by merkapt
  • 81. November 2015 Dr. Ute Hillmer General Management Competence Foto by merkapt
  • 82. November 2015 Dr. Ute Hillmer Autonomist / Independent Foto by merkapt
  • 83. November 2015 Dr. Ute Hillmer Security and Stability Foto by merkapt
  • 84. November 2015 Dr. Ute Hillmer Entrepreneurial Creative Foto by merkapt
  • 85. November 2015 Dr. Ute Hillmer Service and Goodwill Foto by merkapt
  • 86. November 2015 Dr. Ute Hillmer Challenge and Variety Foto by merkapt
  • 87. November 2015 Dr. Ute Hillmer Lifestyle Foto by merkapt
  • 88. November 2015 Dr. Ute Hillmer Schein’sCareerAnchors Adoptedforthe21stCentury Chart by SR&A, Stuart Robertson
  • 89. November 2015 Dr. Ute Hillmer What Stereotype is your „Ideal Customer“?
  • 90. November 2015 Dr. Ute Hillmer Learn about your Target Market
  • 91. November 2015 Dr. Ute Hillmer Where to getAnswers Quick Content Analysis: The right Product/Problem description 1. Google Search with your key words from this morning 2. Google Adwords / Keyword Planner Detailed Content Analysis: What exactly are people looking for? 1. Amazon Booktitel-Search 2. Amazon 3-Star Search 3. Google Analytics Interviews: In-Depth Understanding
  • 92. November 2015 Dr. Ute Hillmer Task: Do a Google SearchAnalysis Take your product/project description to Google Search 1. What wording does Google-Autofil suggest? 2. What topics, web-pages, blogs, companies come up what is their wording? what is their content? Who is there? 3. Results: – What are your new 2-4 keywords? – Who are your 3-5 key competitors?
  • 93. November 2015 Dr. Ute Hillmer GoogleAdvanced Search Video: https://www.youtube.com/watch?v=yc6ssZnCyuA
  • 94. November 2015 Dr. Ute Hillmer Why Google? The Online Search Ecosystem 2013
  • 95. November 2015 Dr. Ute Hillmer Task: Do a GoogleAdWordsAnalysis Take your product/project description to Google Adwords 1. Open Google Adwords (maybe register), go to → Tools → Keyword Planer 2. Enter your keywords and take notes: Keyword mtl. Search Competition Price (CPC)
  • 96. November 2015 Dr. Ute Hillmer Task: Do theAmazon Booktitle Search 1. Start looking for book titles 2. What seems to be the core concern of people interested in this topic? 3. Modify the answers and the wording in your workbook based on your learnings
  • 97. November 2015 Dr. Ute Hillmer Task: Do theAmazon 3-Star Search 1. Look at the 3-Star Reviews 2. What seems to be the core concern of people interested in this topic? What are they looking for and praise or can’t find? 3. Make a list of the core problems people seem to have
  • 98. November 2015 Dr. Ute Hillmer Now: What do you „Sell“
  • 99. November 2015 Dr. Ute Hillmer Your Ideal Customer
  • 100. November 2015 Dr. Ute Hillmer Your Ideal Customer This isn’t about your most common customer – it’s about who you want as your most wanted customer! The 20% that create 80% of your revenue. If you have more than one ideal customer, create multiple copies, but set a limit to 3-5 max. Your most hungry customer!
  • 101. November 2015 Dr. Ute Hillmer Your Ideal Customer Profile - Outline
  • 102. November 2015 Dr. Ute Hillmer Your Ideal Customer Profile - Motivations
  • 103. November 2015 Dr. Ute Hillmer YourIdealCustomerProfile – BusinessGoals
  • 104. November 2015 Dr. Ute Hillmer YourIdealCustomerProfile – Narrative+ Letter
  • 105. November 2015 Dr. Ute Hillmer Positio- ning Foto: Pepe Laja
  • 106. November 2015 Dr. Ute Hillmer What is Positioning? Positioning defines where your product or service stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer. Positioning always starts with a “product” (merchandise, a service, a company, an institution, or even a person….) but positioning is not what you do to that product. Positioning is what you do to the mind of the prospect or customer. Positioning is the act of designing the company’s offering and image to occupy distinctive place in the mind of the target market. Kottler Keller
  • 107. November 2015 Dr. Ute Hillmer What is Positioning? Image by talk2frank from Stock.Xchng
  • 108. November 2015 Dr. Ute Hillmer What is Positioning good for? Position, differentiate and communicate Think from your customers perspective, before you talk to them #1 Relevance – avoid price wars Is the promised added value of relevance to your target segment? Does your customer care? #2 Differentiation – avoiding replicability Are you unique? Do you offer something „more“ that what your customers offer? #3 everybody and everywhere, the message is the same One core message from every employee + partner and through every channel
  • 109. November 2015 Dr. Ute Hillmer Value Proposition Foto: Pepe Laja
  • 110. November 2015 Dr. Ute Hillmer A brand’s value proposition is the set of benefits or values it promises to deliver to customers to satisfy their needs. Choosing a Value Proposition Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 111. November 2015 Dr. Ute Hillmer Value proposition is the #1 thing that determines whether people will bother reading more about your product or hit the back button. It’s also the main thing you need to test – if you get it right, it will be a huge boost. Why choosing a Value Proposition A VP explains the bottom line of what your company does http://conversionxl.com/
  • 112. November 2015 Dr. Ute Hillmer AValue Proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you. In a nutshell, value proposition is a clear statement that explains how your product • solves customers’ problems or improves their situation (relevancy), • delivers specific benefits (quantified value), • tells the ideal customer why they should buy from you and not from the competition (unique differentiation). It’s for people to read and understand! http://conversionxl.com/
  • 113. November 2015 Dr. Ute Hillmer What a ValueProposition isnot It’s not a slogan or a catch phrase: L’Oréal. Because we’re worth it. Nike: Just do it It’s not a positioning statement (positioning statement is a subset of a value proposition, but it’s not the same thing): Germany’s #1 Skin Care. Trusted skincare for life. And a bad example of a Value Proposition: “Revenue-focused marketing automation & sales effectiveness solutions unleash collaboration throughout the revenue cycle” http://conversionxl.com/
  • 114. November 2015 Dr. Ute Hillmer AValue Proposition Consists of • a block of text (a headline, sub-headline and one paragraph of text) with a visual (photo, hero shot, graphics). There is no one right way to go about it, but I suggest you start with the following formula: • Headline. What is the end-benefit you’re offering, in 1 short sentence. Can mention the product and/or the customer. Attention grabber. • Sub-headline or a 2-3 sentence paragraph. A specific explanation of what you do/offer, for whom and why is it useful. • 3 bullet points. List the key benefits or features. • Visual. Images communicate much faster than words. Show the product, the hero shot or an image reinforcing your main message. http://conversionxl.com/
  • 115. November 2015 Dr. Ute Hillmer Create a Good Value Proposition • A key role for the value proposition is to set you apart from the competition. Most people check out 4-5 different options / service providers before they decide. You want your offering to stand out in this important research phase. • How do you make your offer unique? Often it’s hard to spot anything unique about your offering. It requires deep self- reflection and discussion. • If you can’t find anything, you better create something. Of course the unique part needs to be something customers actually care about. No point being unique for the sake of being unique (“the ball bearings inside our bicycles are blue”). http://conversionxl.com/
  • 116. November 2015 Dr. Ute Hillmer Use the Right Language • Your value proposition needs to be in the language of the customer. It should join the conversation that is already going on in the customer’s mind. • You cannot guess what that language is. The way YOU speak about your services is often very different from how your customers describe it. http://conversionxl.com/
  • 117. November 2015 Dr. Ute Hillmer • BMW promises “the ultimate driving machine” • Nissan Leaf electric car is “100% electric. Zero gas. Zero tailpipe.” • New Balance’s Minimus shoes are “like barefoot only better.” • Vibram FiveFingers shoes: “You are the technology.” • Facebook helps you “connect and share with the people in your life” • YouTube “provides a place for people to connect, inform, and inspire others across the globe.” Useful Value Proposition Examples Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014
  • 118. November 2015 Dr. Ute Hillmer Examples of Value Propositions in Crowded Markets: Sell a Customer Experience! Car Repair Shop • Simple fix for blown head gaskets • Repairs blown head gaskets in just one hour Domino Pizza • “You get fresh, hot pizza, delivered to you in under 30 minutes – or it’s free!” http://conversionxl.com/
  • 119. November 2015 Dr. Ute Hillmer Customer Experiences Online Buyers want • Low Prices (38%) • Shopping Convenience (35.1%) • Easy To Compare (33.1%) • Free Shipping (31.5%) • Time Saving (30.8%) • Easy To Buy (29.2%) • Range of Products (17.4%) Infographic by Invesp (sources data from eMarketer and Internetretailer.com) Don’t take these things at face value, because not everything is as it seems. Ask your customers or test it
  • 120. November 2015 Dr. Ute Hillmer • USP (Unique Selling Proposition). USP is the most closely related concept. It’s often considered synonymous with value proposition (especially in relation to copywriting). But it only focuses on what makes your product better than competing options. And that’s just a part of a strong value proposition. • FAB (Feature-Advantage-Benefit). FAB is a process that helps you figure out what each of your product’s features means to your customers, which enables you to address their concerns, desires, wants, and needs. You start by listing your product’s features (e.g., stainless steel as the material of a knife). Then consider what advantages it creates (it won’t corrode). And finally turn that into the practical benefit (you don’t need to buy a new knife every year). • POP-POD (Points of Parity – Points of Difference). POP-POD is a process used to find differentiating factors between businesses. You start by finding “points of parity,” or the factors you have in common with your competitors. And then you find “points of difference;” the aspects of your business thatdifferentiate you from your competitors. • UVP (Unique Value Proposition). UVP sounds nearly the same as value proposition. But the strong focus on uniqueness makes it less useful (much like USP). ValueProp-USP-FAB-POP-POD-UVP
  • 121. November 2015 Dr. Ute Hillmer Value Proposition Canvas Products & Services • Welche Produkte oder Dienstleistungen helfen dem Kd. seinen funktionalen, sozialen oder emotionalen Job zu machen. Was stillt Bedürfnisse? • Produkte in Kundenprio setzen. Gain creators • Wir ermöglichen Produkte oder Dienstl. Chancen (funktional, sozial, emotional, monetär) Pain-Reliefers • Wie verhindern oder verringern d. Produkte/Dienstl. Kunden-Schmerzen (funktional, sozial, emotional, monetär) Job-to-be-done Welchen Job (funktional, sozial, emotional) versuchen die Zielkunden zu erledigen: • Welche Aufgaben erledigen sie • Welches Problem versuchen sie zu lösen? • Welche Bedürfnisse versuchen sie zu erfüllen? Pains • Welche negativen Gefühle, unerwünschte Kosten oder Situationen, welche Risiken können vor, während oder nach Aufgabenerledigung aufkommen Gains • Welche Vorteile erwartet, wünscht der Kunde (funktional, sozial, emotional, monetär) Value Proposition Customer Segment(s) based on: businessmodelgeneration.com
  • 122. November 2015 Dr. Ute Hillmer Value Proposition Canvas Video https://www.youtube.com/watch?v=gB-YwlBrVVs
  • 123. November 2015 Dr. Ute Hillmer Your Customer‘s Job Thetasksyour targetcustomer has(fornow,forget thebuyingcenter) What urgent needs do they have? What are their Compelling desires? … … … …
  • 124. November 2015 Dr. Ute Hillmer What are the • largestwinsyoucan gainforourcustomer • thebiggestbenefit,customerscanobtain? • Biggestpainswecanofferrelieffor? …
  • 125. November 2015 Dr. Ute Hillmer The biggest result Determine the biggest result your customers get … it must be a big one! What is your big promise? People buy results and the benefits they get from these results
  • 126. November 2015 Dr. Ute Hillmer Whenand how do you keepour promisses? When were your customers really happy? Why? What was the right fit? … …
  • 127. November 2015 Dr. Ute Hillmer What product(s) do we offer? …
  • 128. November 2015 Dr. Ute Hillmer Task: Lead your Project to Huge Success: • Position your project innovation with the VP Canvas - 30 Min each one individually - Discuss it in teams of 3 (20 Min each) • Present your Value Proposition (1 Min each)
  • 129. November 2015 Dr. Ute Hillmer Our promise (1) We help… … …
  • 130. November 2015 Dr. Ute Hillmer Our promise (2) What we help our customers do is: … … …
  • 131. November 2015 Dr. Ute Hillmer Our promise (3) Why we do what we do to serve our customers: … Our Vision, what we hope to achieve: …
  • 132. November 2015 Dr. Ute Hillmer Our Promise (4) How we differenciate from alternatives in the market …
  • 133. November 2015 Dr. Ute Hillmer Positionierung: Value Proposition • Operative excellence • Product excellence • Customer insight Youhaveachoice: economic benefits emotional benefits functional benefits
  • 134. November 2015 Dr. Ute Hillmer Value Proposition We help … (do the following things) … in order to …
  • 135. November 2015 Dr. Ute Hillmer Task: Builtthe ValuePropositionfürYour PSAProject
  • 136. November 2015 Dr. Ute Hillmer Tomorrow: Designing a Customer Driven Marketing Strategy in an Online World Production concept Product concept Selling concept Marketing concept Societal Marketing concept
  • 137. November 2015 Dr. Ute Hillmer Suggested Reading • Value Proposition Design by A. Osterwalder, Y.Pigneur • Groundswell by Charlene Li, Josh Bernoff • Positioning by Trout and Ries • In Pursuit of Wow! + The Tom Peters Seminar by Tom Peters • What would Google do by Jeff Jarvis • All Marketeers tell Stories by Seth Godin • 1 to 1 Marketing Future by Don Peppers • CRM at the Speed of light by Paul Greenberg • The Long Tail by Chris Anderson • The Wisdom of Crowds by James Surowiecki • Crossing the Chasm by Geoffery Moore • Selling the Dream by Guy Kawasaki
  • 138. November 2015 Dr. Ute Hillmer
  • 139. November 2015 Dr. Ute Hillmer Dankeschön!
  • 140. 175 von EndSeitenzahl HERZLICHEN DANK FÜR IHRE AUFMERKSAMKEIT! GIBT ES FRAGEN? © 2015 School of International Business and Entrepreneurship (SIBE) der Steinbeis-Hochschule Berlin I www.steinbeis-sibe.de I Dr. Ute Hillmer