Key Criteria of a

Successful Biz Plan

12/18
Biz Model
Product/Service
Comp. Adv.

1/19 1/8
Exec Summ Mgt Team
Clear and Distinctive
Convincing Profitable? Competencies

1/15 1/12
Financial Data Marketing and
Convincing, Sales Plan
Correct, and
Detailed
Farm Biz Plan
Development
Marketing and Sales Plan

James Rushing
Target Market-
Main Goal
“The Purpose of a
Business is to Create
a Customer”

Peter Drucker
 No Market...No Sales
HAWAIʻI ISLAND FARMERʼS
GUIDE TO ACCESSING LOCAL
Identify Your
MARKETS
Craig Elevitch • Nicole Milne • Jim Cain
Market Before
Production
“Get Feedback
From Your
Buyers”
Derek Kurisu
KTA Superstores
 To Investors Interest...
Are You Able To Market & Sell?
•Does Your Product/Service Stands Out in the Market?
•Do You Have a Strong Marketing Campaign?
•Do You Have a Dynamic Sales Force?

Review...
Marketing Plan
Marketing = Biz Backbone
Biz Survival = REVENUE

Revenue = Price x Sales

A Simple Marketing Goal Can Increase Sales

Marketing Plan!

Strategies and Actions to Increase Sales

 Role of a Marketing Plan

Production Plan Mktg. Campaign

Biz •Strategies &
Actions to Sales
Financial Plan
Plan •Deployment of
Methods
Marketing Plan

Your Marketing Your Market and

Are Dependent On...
Strategies Customers
 Strategies in Context
Business Strategy Marketing Strategy

Your Approach to Right Message to Right

Ensure Biz Success People Via Right Methods

Convert Prospects Into

Find a Need and Fill it
Customers Successfully
Product Strategy Sales Strategy
 Adapting Marketing Strategies

Demand
4. Overcome Maturation

SHAKE OUT!
5. Prevent Decline

3. Promote Growth

1. Mkt. Research
CLOSE!
2. Generate Customers

Time
 Incubation: Marketing Strategies
Phase 1 •Testing of Biz Idea
•Market Analysis
•Prepare Marketing Plan
Strategies?
SWOT - Focus on
Find Market Need
Strengths and
and Fill It
Opportunities
 Market Analysis
Industry Overview Ex: Ag or Tourism
•Competitors: History, Products, Performance
•Social Trends: Technology, Adoption, Use, Change
•Projections
•Regulatory Issues
Market Overview Ex: Is It Unique?
•Desirable Target Market
•Current Buying Patterns and Market Trends
•How Competitive Is Your Product?
 Introduction: Marketing Strategies
Phase 1I
•Not Many People Know About the Product
•Sales Usually Low

Strategies?
Intensive Educate
Branding
Promotion Potential
Buyers
Made to Stick
Simple- Compact Idea

Unexpected- Surprise/ Interesting Info

Concrete- Easy to Understand

Credible- Prove it Works

Emotional- Focus on What People Care About

Stories- Inspire to Action
Example - Toyota Prius
Simple
Unexpected
Concrete
Credible
Emotional
Stories
 Branding
Brain Tattoos
Provide a Solution to a
Problem That
Customers Are Willing
To Pay to Solve

Keep Message Simple & Single-Focused

...Connect and Confirm
Connect With Emotions
Your Service Emotional Needs
or Product of Prospects

Confirm Through Reason

Stress-Free Too Many Things

Productivity to Do, Too
Little Time
 Growth: Marketing Strategies
Phase III
•Develop Momentum
•Customers ‘Caught On’
•Benefits of Using Product or Service
•Sales , Generating Profits
Strategies?
Compete With Customer
Newcomers Experience Mgt.

Word of Mouth Customer

‘Purple Cow’ Relationship Mgt.
Purple Cow (WOM)
High Quality
Product/Service

Create WOM
“Sneezers”
 Purple Cow Strategies
•Give People More Than Their
Money’s Worth (Perception?)

•Go the Extra Mile in Service

•Don’t Expect Instant Results -
This Process Can Be Painfully Slow
Customer Experience Mgt.
Create a Memorable Experience
For Your Customers

Your Products/Service
Should Be...

•Simple to Use
•Affordable
•Useful
 Customer Experience Mgt
Guidelines
Create Memorable Touch Points
•Identify Needs - Advertise & Reach Potentials
•Create Value for Customers
•Free to Try
•Make a Difference in Their Lives
Customer Relation Mgt
Marketing = Building
Relationships With Your
Customers

What Is In the Best

Interest
of Your Customers?
•Time?
•Price?
 Customer Relation Mgt Guidelines

Good Price,
More Products to Fewer People
Relevant to Needs

Tracking Records,
Focus on 10-20% Most Loyal Customers
Get Feedback

One Customer at a Time- Relationship Building

Customer
Satisfaction Program

One Customer at a Time- Relationship Building

Learning,
Collaborating
 Mutants Mgt (Evolution)

Embrace Change as You Go

•Test Your Products
•Modify & Test...Again...& Again
•Test Until it Works
•Once it Works...Modify & Test...
Again....& Again
 Mutant Management
Guidelines
Test 3-5
Products or
Service
Measure:
CHANGE! Non-Stop Which
One Sells?

Implement
Blue Elephant
People Don’t Know
What They Want...

They Know They Want

It Once They Have
Tried It
Blue Elephant Guidelines
Create a Range
of Products

Test Them With a Wide

Range of Potential
Customers

Identify Their
Mindsets

Create Target
Optimized Products
 Adapting Marketing Strategies

Demand
4. Overcome Maturation

SHAKE OUT!
5. Prevent Decline

3. Promote Growth

1. Mkt. Research
CLOSE!
2. Generate Customers

Time
 SHAKE OUT!
Sales Significantly Lower

Customers Saturated
They Already Are Buying as
Much Product As They Need

Over Capacity
Competitors Entered the Market
 Maturation: Marketing Strategies
Phase IV
•Slow Growth
•Competitors “Share” the Market

Strategies?
Win Over Open New
Customers Markets

Lower Prices Innovate

 Decline: Marketing Strategies

Phase V •Declining Sales

•Happens To All Products
Strategies?

Replace Product
New Products/
To Invigorate
Services
Sales
 Bottom Line
Marketing IV

Strategies V

III
I II

...Must Fit the Stage

of Your Business
 About Your Biz Plan...
E.G. Made-To-Stick Test

Simple
Test Your Biz Unexpected
•Name
•Logo Concrete
•Tag Line Credible
Emotional
Exercise
Stories
 Styles of Marketing
Goal Sales
Methods
Conventional ‘Guerrilla’
Big Budget, Expected, Press Time, Energy, Unique, Imagination,
Releases, Max Results With Engaging, Interactive, Unexpected,
Max Resources Generates Buzz,Viral, Min Resources

Strategies
•Made to Stick •Cust Exp. Mgt •Cust Rel. Mgt
•Purple Cow •Branding •Mutants Mgt
•Blue Ocean •Blue Elephant •Etc.
Guerrilla Marketing
Test Various Marketing
‘Weapons’

Create a Marketing
Calendar

Systematically Launch
Marketing Plan
 Deployment Options
Use Marketing Options Skillfully

•Fliers •TV/Radio •W.O.M.

•Brochures •Website •Referrals
•Postcards •Facebook •Collaboration
•Biz Cards •Twitter
•Direct Mail •Newspaper
 Get Your Biz Online- Free
www.GYBO.com/Hawaii
•68% of Small Businesses in Hawaii Do Not Have a Website
•97% of Internet Users Look Online For Local Products
and Services

Also Free- Facebook, Twitter, Blogs

 Target Market
Focus & Flourish by Gaining a
Tiny Slice of the Market

Your Niche
Define Your
Target Market
•Age Group
• Sex
• Income
• Location
Create a Marketing Plan

Brand Most What do you do best?

Competitive Edge What do you stand for?
Convert
Powerful Marketing
Message
Message
Deliver
Target
Right Prospects
Market
Marketing Calendar
•Promotion Schedule
•Organize Marketing Plan
Month by Month

•Seasonal Marketing
•Multiple Marketing Types on
One Spreadsheet

•Outlet of Promotion
Design For Your Own Needs
•Start Small
•Learn By Doing- Understand Your Market/Get a Job
First

•Marketing Consultant
•Hire Experienced Marketing Mgr in Your Field
•Collaborate With Other Co’s
 Marketing Team
Investment
Pre-Sales Marketing Consultant
Consultant Manager Marketing
Consultant

Accounting Sales Executive Advertising

Executive Executive
Salesmen
Sales Reps
 For Your Biz Plan...
•Choose 3-4 Strategies Based on Your Product
Type and Life Cycle Phase

•Choose 5-8 Delivery “Weapons” Based on Your

Resources, Target Market

•Assign Time Frames to All

•Create a Calendar
•Draft a Marketing Plan
Coffee Break!
Pricing and Sales
Strategies
• Right Price

•Loyal Customers
 Pricing
Strategies
 Basic Biz Function
How Much to
Charge For Your
Product or Service?

Difficult
But... ESSENTIAL!
 Efficient Price
Maximum Price Customers Willing to Pay

Too High-

Price
Lose Customers Goal is to
Strike a
Balance

Too Low-
Lose Money
Quantity
 Pricing Strategies
Vary With the Product Cycle

Demand
Maturation
Shake Out
Decline

Product Line Pricing Closeout

Growth Bundle Pricing Pricing
Premium Pricing
Introduction Option Pricing

Promotion Pricing
Skimming Pricing
Time
Introduction Pricing Strategies
•Promotional Pricing
Low Price to Increase Sales and
Market Share

•Skimming Pricing
Skim Profits From Market
Layer by Layer
I.E. From Initial High Price to Lower Price Slowly to
Capture Wider Market
 Growth Pricing Strategies
•Product Line Pricing
Price Ranges to Maximize Profits

•Bundle Pricing
Group & Sell at Reduced Pricing

•Premium Pricing
Exclusiveness of a Product

•Optional Pricing
Extras Charged Optionally
Maturation Pricing Strategy
•Competition Pricing
Price to Win Over Customers
From Competitors

Common Strategy Used For

Realignment and Turnaround Biz
Environments
 Sales
Strategies
Marketing Target
Strategies Market
Effective Sales Mind-Set
Maximize Sales by
Understanding
HOW & WHY
Your Customers
Buy
 Sales Strategies
1. Do Not Push

2. Help to Make a Decision

3. Focus on the End Result

4. Profile Your Ideal Client

 Step 1: Do Not Push
Customers Buy When They Are Ready

• Understand Your Customers

•What Do They Need or Want?

They Want Products to Achieve

the Results They Want
 Step 2: Help Make a Decision
Current State Desired Future State

Motivation to Buy
Urgent- Need NOW! Must

Good Buy- Not Urgent Compelling

Nice Upgrade, Not Urgent Medium

Plan to, Not Urgent Low

Step 3: Focus on the End Result
Reverse Engineer the Buying Decision

Desired What’s What’s

Outcome Before Before

Expected Decision to Thinking

Results Buy About It
 Step 4: Identify Ideal Client
Focus on the Right
Opportunities

What Customers Will

Benefit From Your
Product/Service?

Who Would You Want to Have a Long-Term Biz

Relationship With?
 Ultimate Sales Target
Momentum Effect

Find and Meet a Real Need or Want of

your Customers Consistently

Turn One-Time Sales Into Long-Term

Selling Relationships

REPEAT CUSTOMERS
 The Momentum Effect
Power Offer

Vibrant Vibrant
Engagement Satisfaction

Vibrant
Retention

e.g. 7th Harry Potter book sold 11M copies in 1 day

 Customer Retention Portfolio
Customer State of Mind

Desperado Passive Champion

Customer Action
Stay Prisoners Settlers Loyals

Defect Runaways Switchers Adventurers

 Systematic Approach
Screen & Analyze
Mobilize
Detection
Conversion
Vibrant Retention
‘Loyals’ are
critical for
sustainable,
profitable
LOYALS growth

Prisoner Settlers Loyals

Runaways Switchers Adventurers
Putting It Together
For Your Biz Plan

•Market Analysis
•Marketing Plan
•Sales Plan