Final Exam Flashcards
Why plan for marketing?
build your brand, better target, more efftively communicate, enable prioritization, gain engagement
Examples disruptive forces to strategic marketing
uncertain economic outlook and tax policy
changing US govt regulations and funding
evolving science and technology
international business trades and competition
uncompromising demand for results/impact
attracting investors, not donors
branding causes, not organizations
growing communications media
challenge of customer/client/donor loyalty
Differences between nonprofits and for-profits
goals focus on mission, rather than profit
nonprofits exist to meet needs that governments don’t of that aren’t profitable
volunteers play an important role
impact is harder to measure
R&D plays a smaller role in promoting innovation
lack of support for overhead
4 P’s of Marketing
Product, Place, Price, Promotion
Product
service, good, idea, behavior, belief
Place
all places where you have contact with people
Price
beyond donations and service fees, the total cost of engaging with your organization
Promotion
anything you do to get the word out about your organization’s programs, products, or services
7 P’s of marketing
product, price, place, promotion, process, positioning, people
Process
sales process, order handling, transaction efficency, response time, service process, eCommerce, new product design process
Positioning
target markets, market segements, customer perception, competition, differentiation, attributes, perceptions of others
People
sales force, technology capability, technical service, other support services
SMART objectives
specific, measurable, audience specific, results oriented, time specific (Plus comprehensive as a group and agreed by nonprofit leadership)
Results-oriented approach
what decisions need to be made?
what type of intellect is necessary to make the “best” decision?
who is the target audience?
Market research toolbox
executive interviews
telephone surveys
focus groups
online surveys
mystery shopping
Competitors and best practice analysis
identify 2 to 4 competitors
identify 2-4 potential best practice orgs (nonprofits or similar businesses in another geography)
consider what to research on these companies or nonprofit orgs (scope of products/services, messaging, website, social media, how they identify impact/results; what are their marketing strategies?
conduct the research and summarize the results
SWOT
Strength and Weaknesses (internal)
Opportunities and Threats (external)
Why define target audiences
allows org to better outreach to clients/customers, improve products and services, and engage other stakeholders— specific groups of people (need, age, skills, location, capabilities)
assists you to better tailor programs to the interests of clients/customers and otehr stakeholders
allows you to better focus resources in specialized ways
Target audience levels
demographics, past engagements, organization, attitudes, etc.
target markets nonprofits
donors, clients, referral sources or influences, other stakeholders, volunteers
Branding is
a customer/stakeholder promise, historically a mark of quality
Everything your nonprofit does creates an
image, successful organizations manage perceptions others have of them
Branding is in
the mind of others and emotions and perceptions play a role
branding is about
where you want to be in 3-5 years, not just where you are today
brand benefits include
a promise to donors and clients, motivating identity for staff, mission that appeals to the coommunity
brand strategy should be based on
what allows target audiences to differentiate our nonprofit and its services from other nonprofits
key messages should be
developed and consistent with brand strategies
communications to carry the brand should be
planned, focused, integrated, consistent and reinforced (what response do we hope for?)
senior leader should be
visible champions and the staff and board are the best brand ambassadors; they can effectively promote and live up to it with every action, because everything speaks for the brand
branding is a strategic marketing imperative
to improve marketing, build resources and support your cause
Steps of Branding
brand position, personality, organization name, visual identity, tag line, standards
brand position, personality
a position for the orgnization that differentiates it and determine key brand attributes
organization name
create a name that reflects the brand position and attributes
visual identity
coordinate the logo design and trademark applications to secure name
tag line
create a tag line aligned with brand
standards
protect the brand
brand
a relationship that secures future resources by securing stakeholder loyalty
positioning
the process of presenting a service or organization in such a way that allows an audience to easily differentiate that service or organization
benefits of positioning
markets the brand and adds value to services
differentiates from competition
effectively project organization and services to key audiences
focuses and targets selling and communications
SUCCESs Model
Simple, Unexpected, Concrete, Credible, Emotional, Stories
Simple
what is the core of your message? Can you communicate it with an analogy or high-concept pitch?
Unexpected
get attention by violating a schema, hold attention by using curiosity grasps. before your message can stick your audience has to want it.
concrete
use secondary language, paint a mental picture, try to hook into multiple types of memory
credible
ideas can get credibility from outside or from within, using human-scale statistics or. vivid details.
emotional
people care about people not numbers, WIIFY (what’s in it for you?) identity appeals can often trump self-interest
stories
drives action through simulation and inspiration, help people see how an existing problem might change
strategies
tell you how you will reach your objectives
helps identify tactics more broadly
first priority of digital marketing strategy
website
second priority of digital marketing strategy
videos can attract attention & blogs can deliver content/engage discussion
3rd priority of digital marketing strategy
facebook, instagram, and other social media can engage people with your org. and each other
4th priority of digital marketing strategy
traditional media— print communications, leaflets, events, news media
first reason to use google analytics
better measure website traffic; traffic website hits and what avenue people are being directed back to the website; number of unique hits to the website; from where they are coming from
second reason to use google analytics
better assess what marketing tactics work and website sections of interest; timing of website visits around events, news media coverage, eNewsletter distribution; page views, # of click-throughs to newsletter/blog post views
1st key approach to encourage website use
use a common platform to enable updates without reliance on paid outside help
2nd key approach to encourage website use
incoporate pictures, videos and some movement
3rd key approach to encourage website use
design and lay out to support phones and tablets (responsive)
4th key approach to encourage website use
assess the websites of competitors and best practice orgs for ideas and to differentiate; consider favorite websites
5th key approach to encourage website use
craft simple navigation to make the site user-friendly and promote spending time on your site
6th key approach to encourage website use
ensure menus, buttons, and links work
7th key approach to encourage website use
use search engine optimization
8th key approach to encourage website use
promote vistits to site via social media and written communications; incorporate social media icons on website and print material
9th key approach to encourage website use
display news media coverage
10th key approach to encourage website use
consider need for other languages
11th key approach to encourage website use
utilize google analystics to measure site use, track how folks are coming to your site and what pages are of geatest interest
effective digital marketing can
buuild a rapport with your audience, keep your organization at top of mind, position your organization as a reliable source of information
thought leadership
in what arena is your organization an expert?
meedia need print reporters that want all the details
facts
media needs looking for meaty, interesting content from a variety of sources
quotes
media needs looking for a different point of view for the topics they cover
angles
media’s want to understand story context, how it relates to what has happened before
background
media needs depending on the story, pictures and graphics add value, info-entertainment and attract attention
pictures
editors consider if the material is current
timeliness
editors consider is it news or of interest or if its relvant to its audinece
proximity
editors consider if your organization or spokesperson is well known in the local area
promeinence
editors consider will it have impact
consequence
an entreprenurial approach can be used
to start your own business, nonprofit, or effectively serve as an employee or staff member
thought, preference, and need-changing forces; where is the demand, yet little/no supply?; future trends
1st principle of entreprenuership: major source of entreprenurial activity
(less likely business entry) or action (more likely profitable
2nd principle of entreprenuership: bias toward analysis
increases the profitability of entry but decreases likely profitability
3rd principle of entreprenuership:
adopting a principle of affordable loss can help deal with the above bias for acion vs bias for analysis tension
4th principle of entreprenuership: affordable loss
no product, no customers, no revenue
5th principle of entreprenuership: vicious cycles
using your own resources and doing things cheap
6th principle of entreprenuership: bootstrapping
most expensive when you need it most, bootstrap, seek angel investors
7th principle of entreprenuership: cash is king
if cash doesn’t kill you, this will, choose a recipe for how to create value
8th principle of entreprenuership: logistics
every business has 3 to 5 drivers
9th principle of entreprenuership: multiple drivers
leading organizations this line of thinking, new busiesses, products, or services to address otherwise unment needs, and finding better ways to do things
10th principle of entreprenuership: thinking like an entrpreneur as an employee
no perfect information
1st way to reduce risk
most entrepreneurs first fail, several times, befoer becoming successful
2nd way to reduce risk
risk and uncertainty are inevitable in profit-making and can be in nonprfot start-ups
3rd way to reduce risk
bootstrapping
4th way to reduce risk
looking for opportunities with great gains and losses
5th way to reduce risk
marketing relationship pyramid
awareness, consideration, selection, partnership
sales funnel
total market, prospects, leads, sales
analyzes and understands the marketplace
marketing manager
determine wheter there is a market for a new product
marketing manager
carry out market research
marketing manager
get the right mix of price, product, place, and promotion
marketing manager
determine when to launch promotional campaigns
marketing manager
develop marketing strategy for the company in line with its objectives
marketing manager
coordinate marketing campaigns with sales activities
marketing manager
in charge of training of the sales team
sales manager
sets targets
sales manager
encourages sales people to hit their monthly targets
sales manager
approve or turn down requests for discounts or special terms
sales manager
monitor sales people at work and provide feedback
sales manager
provide marketing manager with feedback regarding promotional campaigns
sales manager
design and implement a strategic sales plan
sales manager
build strong, long-lasting customer relationships
sales manager
business to business marketing
target markets are small and complex, businesses have high vendor loyalty
business to consumer marketing
mass marketing to larger audiences is more common. various campaigns can be used to reach specific demographics
b2b marketing
customer’s customers are often other businesses, sell into multiple geographies, larger financial transactions
b2c marketing
depending on company or product campaigns can be gobal and big or small and local ,
b2c sales
smaller financial transactions purchased by individuals rather than corporations
b2b sales
more expensive products/services and larger quantities
b2b sales
multiple people tend to be inolved in the decision making, producing a more extended and technical buying process
b2b marketing
more data driven, geared to solving a problem, reducing risk, reducing cost or improving efficiency
b2c marketing
marketing can be focused on problem-solving, but it often includes an emotional appeal
b2b communications
use forums to interact with customers face-to-face develop relationships, theres are onsite, at trade shows, conferences, and in online communities.
b2c communications
use traditional media like television, radio, print, outdoor, and digital to reach mass audiences
b2b communications
detailed and lengthy messaging tends to work for b2b customers who want to be educated on the products/services
b2c communications
messaging created for consumers is usually shorter, simpler and more shareable
b2b communications
digital communications include networking on Linkedin and creating b2b media like webinars, videos, and blog posts
b2c communications
digital marketing is social and shareable on Twitter, Facebook, Instagram, Pinterest and otehr social media sites
fundraising (development) pyramid
prospecting, solicitation, cultivation, stewardship
development
annual funds/ events, major gifts, multi-year and capital campaigns, planned giving
competitor analysis
local organizations which donors may consider as close alternatives and otehr stakeholders may confuse with your nonprofit
best practice examples
looking to ther geographic areas
heart
stories with an emotional connection, how it serves an individual, client, child, and family
mind
what’s our impact, why should you and I care
hands
how can you help, what can you do
manage marketing
how to launch and implement your plan
manage marketing by
engaging ambassadors
manage marketing by
mangaing staff and considering external resources
seek ontegration of internal/external communications
structure marketing
repositioning org./new name, new programs or sites, or new website)
launch key initiatives
to fill needs for special skills/experience, handle overloads, use marketing plan as a creative breif with vendors, advisory committees and volunteers
assess whether you need external marketing addistance
share highlights of your plan and engage staff, board, and volunteers to support as your best brand ambassadors
extend your marketing efforts
how to engage staff, board, and volunteers to support as brand ambassadors
discuss marketing plan to engage, review, seek input and support with client staff and also seek budget support. seek opportunity with all staff to share highlights of plan and how they can be engaged
