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SMPS - CPSM Exam - Industrial Marketing Management

Sun, Dec 10, 2017 @ 10:37 PM / by Chuck Lohre posted in Business to Consumer Marketing, Construction Equipment Marketing, Metalworking Equipment Marketing, Mining Equipment Marketing, Process Equipment Marketing, Business Development, Industrial Marketing Promotion, Marketing

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The last SMPS Markendium Domain puts it all together. Managing a Marketing Dept. or Agency Couldn't be Defined Better

Four years ago I learned about Hubspot and went all in. I really enjoyed the specific internet marketing knowledge that it demonstrated and clearly showed principals of a agency how to follow. We had them convert our site and did everything they suggested. We got one client to implement it and that has been a great success. Not so much for the agency. Face it, the internet is mostly marketers, you can't sell generic marketing in the internet, just like you would be a fool to hire a brain surgeon online. Myke Amend, our weg guru, recently created www.industrialwebdevelopment.com, specifically about web design and management. It worked great and we have signed two new clients. Myke followed the Google instructions to create a great website. They are light years past Hubspot. In fact, you can't do what Google suggests with Hubspot. We're still a Hubspot Partner and I'll continue participating because in spite of their lack of advancements, they are still a very good general best practices and agency management tools.

Hubspot told you to build it and they will come. The Society for Marketing Professional Services tells you to deliver the most fantastic service you can, find similar clients and sell them the same type of work. To grow sell new services to existing clients. If that is successful, try selling it to other clients. it that simple. 

The management part of it is simple too. Clearly define marketing activities and their objectives that you can measure. I'm looking forward to defining what we're good at, adjusting for each of our personalities, and implementing SMART goals next year - Specific, Measurable, Actionable, Relevant and Timely.

 Industrial Marketing Management.jpg

 

Industrial Marketing Management Case Study Activity

This Case Study Activity allows you to reflect on and apply the key concepts that you learned in this Domain to a real-world scenario. Each Domain includes a scenario about the same organization, Gilmore & Associates. The scenario is presented to you, followed by several questions. You can also elect to view the recommended solutions/ responses for each question posed, which are located on the next page. This case study can be studied in many ways:

• You can individually reflect on the questions after reading the scenario, and write your own notes/responses to each question. You can then check your ability to apply the key concepts against the recommended solutions/responses.

• You can pull together a small group and use this scenario to drive a discussion around the challenge and to discuss solutions as a group.

• You can combine a selection of the case study activities (across the Domains) into a larger scenario-based activity as a part of a professional development event.

Thanks in large part to your efforts as the marketing coordinator, Gilmore & Associates has successfully transitioned into a new market. The firm used to only be known for designing K-12 educational facilities, but with a few high-visibility retirement community projects under its belt, it's begun to establish itself as an expert in this niche of older adult healthcare.

Firm leadership has recognized your role in this transition by offering you a management position. You agree to take on the responsibility of coordinating the efforts of staff and consultants to accomplish marketing goals and objectives, and ensure that every step in the sales process-from BD to writing a proposal-continues to run smoothly.

1. What are some processes that you could put into place to ensure the best possible outcomes for your marketing staff's performance?

2. What should be included in a pipeline report to help you track activity, hold your team accountable and ultimately help your firm reach its annual growth goals?

3. You notice that many members of your team express discomfort with their BD role. How can you create a training program that will build the skills that they need to develop more confidence in this role?

4. One of your team members has decided to go back to school to study nursing and you need to hire someone to fill the open marketing associate position. What · can you do to make your firm an appealing choice to job seekers?

5. What steps can you take to promote a firm-wide BD culture?

Answer Key

1. What are some processes that you could put into place to ensure th􀀡 best possible outcomes for your marketing staff's performance?

• Set clear expectations. Measure each staff member's knowledge areas and skill sets, and, based on those results, develop metrics by which they will be evaluated. Also encourage them to gain additional training and certifications, where needed.

I look forward to doing this with my guys. It might be cold calls by me, search engine optimization by Myke and we'll firgure out something for Rob to do. He's so shy.

Provide opportunities for your staff to find a mentor or coach. These relationships can greatly enhance their professional development over both the long and short term.

I'm afraid I'm all they have!

Establish clear lines of communication and provide regular feedback. Have regular team meetings about current and planned activities, as well as more informal one-on-one discussions about how each person is performing.

We'll have these meetings each month after we have put our "New Business" hours into the database.

Help them to develop a PDP that identifies a path for their individual professional development within the organization.

This will be fun. I'm lookng forward to seeing what Rob and Myke see as a management path.

2. What should be included in a pipeline report to help you track activity, hold your eam accountable, and ultimately help your firm reach its annual growth goals?

Information about each lead, including which staff member brought it to your firm's attention, which staff member will head follow-up activities and whether the lead is a previous client or a prospective one

We already have a good database to fill out. Putting numbers on it will help. We can use the "Estimate" field for this.

Information about the market and service sector that potential new work is associated with 

I've been wondering where we're going to get that info. The aggregate mining publications publish market trends. I think the chemical industry does as well.

A rough approximation of how much revenue that the project might bring into your firm and how much it will cost to pursue it 

We can put some numbers on this.

How likely you are to win the work based on what you know about the opportunity 

We can easlily guess this as well.

3. You notice that many members of your team express discomfort with their BD role. How can you create a training program that will build the skills that they need to develop more confidence in this role?

Recognize that some people will never be completely comfortable demonstrating a particular skill-for example, speaking in public or writing proposals. Encourage your staff to focus on enhancing skills within their natural abilities and comfort zone. However, be sure to differentiate between people who will always hate networking (or some other skill) and those who just need more training to succeed.

Rob can give us all a primer on Adobe Applications.

Conduct a training needs assessment via observation, individual interviews ;and group. questionnaires to determine in what areas your team is strong and where they could use additional instruction.

This will be fun. I'll have to pay them to go to Dale Carnegie but that's Ok.

Develop a regular schedule of training opportunities. Include both formal and informal (e.g., lunch and learns) training opportunities at appropriate frequencies.

We'll be going over this study guide for most of 2018.

Make sure that the training sessions are hands-on and simulate the real world. For a training session on proposal writing, have participants write a sample proposal. For one on interviews, conduct a mock interview.

We can all do this in our sleep.

Create a maintenance plan so that the training schedule is not dropped once your employees attend the initial sessions. For long-lasting improvement, people must have regular opportunities to practice learned skills. 

American Marketing Association was one group a fomer employee was active in and did serve on the board. Nothing came of it.

4. One of your team members has decided to go back to school to study nursing, and you need to hire someone to fill the open marketing associate position: What can you do to make your firm an appealing choice to job seekers?

• Offer to help HR develop attractive and well-written job announcements for various mediums.

• Know what motivates the people who will be searching for a job in your industry-this includes an interest in the work, opportunity for growth, a sense of accomplishment and earned recognition-and tailor your recruitment announcements to address these needs.

• Consider the target audience for the job opening. A marketing associate is an entry-level position, so your candidates are more likely to be recent graduates in the Millennial.Generation than Baby Boomers.

• Make sure that your web site is up-to-date and attractive, and that the "Apply for a Job" tab is easy to find from the home page.

• Consider setting up a booth at college career fairs. Sell the culture of your firm at the booth and select staff that will relate well to Millennials.

All great ideas. We need to have more about the culture of the company online. It';s not like we don't do many extra off line activites.

5. What steps can you take to promote a firm-wide BD culture?

• Recognize that it takes time for BD efforts to show obvious pay-offs and encourage your staff to view the development of client relationships as a long-term and continuous effort, as opposed to a task that is only done when the firm needs new business.

• Include sales training in your firm training program so that your team develops good selling habits.

We're going to have  great 2018!

 

Contents

1. Supervise Marketing and Support Staff

1.1 Define Roles, Joo Descriptions, and Expectations

1.1.1 Structure :Your Department

1.2 Establish Performance Outcomes, Expectations, and Metrics

1.3 Identify Training and Professional Development Needs

1.4 Provide Mentoring and Coaching Opportunities

1.4.1 Mentoring

1.4.2 Coaching

1.5 Have Regular Team Meetings

1.6 Help Staff Create a Personal Development Plan (PDP)

1.7 Conduct Performance Evaluations

1.8 Key Terms

2. Develop an Internal Marketing Communications Program

2.1 Track and Communicate Relevant Information

2.1.1 Pipeline Report.

2.1.2 Track Upcoming Industry Events

2.2 Establish Regular Meetings with Stakeholders

2.2.1 Create an Agenda

2.2.2 Distribute a Detailed Report

2.3 Create Awareness of Company's Services/Offerings for Cross-Selling

2.4 Key Terms

3, Develop, Implement, and Maintain Information Management Systems

3.1 Conduct a Needs Assessment

3.2 Select a System

3.3 Develop an Implementation Plan

3.3.1 Build Company Buy-In

3.4 Develop a Maintenance Plan

3.5 Develop a Customer Relationship Management (CRM) System

3.5.1 Select a CRM System

3.5.2 Outline the Data to Be Housed in the CRM

3.5.3 Implement the CRM System

3.5.4 Maintain the CRM System

3.6 Key Terms

4. Conduct Marketing Training Sessions

4.1 Establish Outcome/Competency Alignment for Marketing, Business Development (BD), and Sales Positions

4.2 Conduct a Training Needs Assessment

4.3 Identify Training Resources

4.4 Develop a Schedule/Calendar of Training Programs

4.5 Evaluate and Refine Programs

4.6 Key Terms

5. Attend Professional Development Activities

5.1 Identify Expectations for Staff Involvement

5.2 Identify Organizations to Participate In

5.3 Train Staff to Network

5.3.1 Information Sharing

5.3.2 Keep in Touch

5.4 Develop Your Professional Network

5.5 Assess the ROI of Participation

5..6 Key Terms

6. Recruit Personnel

6.1 Coordinate with HR

6.2 Write Job Descriptions

6.3 Highlight Your People

6.4 Promote the Job Opening

6.4.1 Assess Your Results

6.5 Market Your Firm as the Most Attractive Choice

6.6 Look to Other Sources of Talent

6.7 Key Terms

7. Comply With Business and Accounting Principles

7.1 Know the Benefits of Understanding Financial Information

7.2 Learn the Basics

7.2.1 Charge-Out Rate

7.2.2 Target Multiplier (aka Charge Multiplier) 7.2.3 Net Multiplier

7.2.4 Overhead Rate

7.2.5 Staff Utilization Ratio

7.2.6 Current Ratio

7.2.7 Net Profit Ratio

7.2.8 Accounts Receivable Collections

7.2.9 Financial Statements

7.2.10 Tracking Backlog

7.3 Understand the Project Lifecycle

7.3.1 Getting the Project

7.3.2 Doing the Project

7.3.3 Finishing the Project

7.4 Understand Basic Contract Principles

7.5 Key Terms 

8. Promote a Firm-Wide BD Culture

8.1 Develop and Implement Strategies to Advance a BO Culture

8.2 Understand Models of BO Cultures

8.2.1 Valley of Death

8.2.2 Sales Success Cycle

8.2.3 Rainmaking System

8.2.4 Performing BO during Project Execution

8.2.5 Building Relationships

8.2.6 Internal Marketing Examples

8.3 Define Roles, Responsibilities, and Training across Firm

8.3.1 Marketers

8.3.2 Technical Staff

8.3.3 Senior Management

8.3.4 Nontechnical Support Staff

8.4 Assess and Develop BO Talent

8.5 Key Terms 

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SMPS - CPSM Exam - Industrial Marketing Promotional Activity

Sun, Dec 10, 2017 @ 01:37 AM / by Chuck Lohre posted in Business to Consumer Marketing, Construction Equipment Marketing, Metalworking Equipment Marketing, Mining Equipment Marketing, Process Equipment Marketing, Business Development, Industrial Marketing Promotion

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This is the Domain I have been waiting for. It's most of what I have been doing the past 40 years. Industrial Marketing Promotional Activity

I started at the drawing board 40 years ago at my Father's advertising agency. $3.10 per hour. I lived in the basement of a nearby home for $45 per month. I remember the first night I stayed there, the gays above me were having a huge shouting match! I enjoyed sucking Rapidio pens and drawing mining equipment. And slowly made a name for myself because I enjoyed preparing perfect materials for the printer. I still don't know how the vice president knew I had been up all night working on the boards. Must have been something in my eyes.

I learned everything from client relationships, the friendships, the events and creativity from my Father. They all were important in a people business like advertising. I came in during a depression and we grew a little after that but never regained the glory days of the agency in the 60s. Dad left for the Florida Keys in the 80s and started other businesses. I took over the day to day and to this day I think about him at 5 pm when he used to call after the rates went down.

Dad passed away in 1999. That was the high point of the agency. We almost broke one million in sales. Then 9-11-01 and we were struggling like every other consultant. The economy recovered and seemed to be on fire, it was. I got involved with SMPS on the advise of Pete Strange the president of Messer Construction. I found the chapter very welcoming and volunteered for the board of president Alison Tepe-Guy. I served two terms but then the housing crisis hit. I gave up on growing the agency with building material clients. Until the last couple of years in which I have attended Greenbuild, the premier show for high quality building materials. I'm looking forward to putting to use all the information I have absorbed from trying to pass the exam over the last ten years.

Promotional-Activities.jpg

 

Case Study Activity

This Case Study Activity allows you to reflect on and apply the key concepts that you learned in this Domain to a real-world scenario. Each Domain includes a scenario about the same organization, Gilmore & Associates. The scenario is presented to you, followed by several questions. You can also elect to view the recommended solutions/ responses for each question posed, which are located on the next page. This case study can be studied in many ways:

• You can individually reflect on the questions after reading the scenario, and write your own notes/responses to each question. You can then check your ability to apply the key concepts against the recommended solutions/responses.

• You can pull together a small group and use this scenario to drive a discussion around the challenge and to discuss solutions as a group.

We talk about promotional activities every day at our office at Washington Park. That's what I live and breathe. You get a bit of that sense reading the CMPS Domains. The folks that wrote these know that we're in a people business. Everything revolves around people. I'm lucky to have  Myke Amend join the company, he's a shy but gregarious creative. A great writer and an incredible programmer.

• You can combine a selection of the case study activities (across the Domains) into a larger scenario-based activity as a part of a professional development event.

I plan to evaluate each of my clients based on these Domains.  It will help me understand the interrelationships of the Domains and learn how to approach those clients with new ideas to improve their marketing.

Gilmore & Associates' first year in the new market has been a successful one-with two winning proposals and one completed project, you are ready to get your company's message out in front of a wider audience. Your CEO wants the firm to become well known for designing state-of-the-art facilities for serving the healthcare needs of older adults.

As the marketing coordinator, you have been given the responsibility of developing a plan to raise awareness of your company in the minds of prospective clients, and to set the stage for establishing your firm as a thought leader in the industry.

This is the problem we get asked everyday. But never get the background information needed to achieve the results. It used to be that we could come up with a clever ad and succeed. No more.

1. Before you engage in promotional activities, you must have a message to deliver. What are the elements involved in the creation of a corporate identity?

This isn't that hard to do. Tying it into a relevant marketing plan normally doesn't get addressed. or maybe we never got the feedback. I once told a client that feedback was a strategic re-positioning strategy. He disagreed and said it was a tactic and not a strategy. We never did get the market they were going after so had no idea what to present.

2. What activities should be included in the communications plan that your team develops?

I'd sure like to get more information for any ad we are asked to develop. Normally it's an attempt to present the product benefits versus the competition. The core message a sales person should be sure to explain to a prospect. This was a great approach to an advertisement in the past and may still be but nailing the benefit versus being boring is the fun part. Making it memorable is the most important. The most important activities are to educate the sales force on the message to be delivered and present it through events, presentations, meetings, social media and in the office.

3. You've decided to create a video to gain your firm more visibility. What should you keep in mind when developing/filming a high-quality multimedia advertisement?

Used to be that we got $1,000 per minute to produce a video. Now clients want to do it for $100 a minute. Smart phones are great if you have a good remote mic but you still need a great script and a good spokesperson.

4. Your firm is proud of the project that it recently completed, and would like to give it greater visibility by entering it into an awards competition. What should you consider when searching fo􀀲r an appropriate competition to submit to?

The Domain guide gives great guidelines to picking awards. I especially liked the suggested into who won and what the judges want.

5. The first year anniversary of your company's entry into the new market is coming up, and you want to plan a special event for the occasion. What steps can you take to ensure that the event makes a favorable lasting impression on potential and current clients?

We made our office LEED Platinum to enter the construction market but no one in the industry cares. It's only what the client wants. We may be able to work with those sustainable firms as like minded companies but it's easy for the designers and consultants to be Green. We have received educational work from institutions and hope to grow that. I have worked very hard to be the best educator in the Green Building movement and won't back down one bit from that position. It's just an eye opener to realize that it might take 20 years to get out of the "Valley of Death."

Answer Key

1. Before you engage in promotional activities, you must have a message to deliver. What are the elements involved in the creation of a corporate identity?

• Conducting primary research to determine how your brand is currently viewed by others (i.e., a perception survey)

• Determining whether others' perceptions of your company lines up with the image that you want to project

• Developing a vision and mission statement that defines your firm's core purpose

• Creating an identity map to determine where your firm stands in relation to your competitors in the market 

• Developing a corporate identity program that institutes firm-wide standards regarding naming conventions, graphic design elements and messaging in order to better maintain a consistent brand

All great ideas and the proper way to approach marketing.

2. What activities should be included in the communications plan that your team develops?

•  Creating strategic objectives that set the priorities and direction for communicating with clients, potential clients, the community and other key audiences. What response are you looking for?

• Defining your target audience, based on demographic and psycho graphic characteristics.

• Developing a social media plan that uses inbound marketing to engage with your audience on the appropriate platforms.

• Developing interesting and creative content that can be used to share knowledge through various social, digital, and analog platforms.

• Maintaining an integrated website.

• Selecting which types of ads and sponsorships to engage in (including earned, pay-to-play, and owned platforms). 

Once again, great guidelines and right on approaches.

3. You've decided to create a video to gain your firm more visibility. What should you keep in mind when developing/filming a high-quality multimedia advertisement?

• Tell a story, but make sure that it includes only what is essential so that the entire story can be told in a few minutes.

• Make sure that the quality of the production is consistent with your firm's overall image.

• Research the elements of video production and decide what tools you will need to produce the quality that you want. This includes finding a DSLR camera/camcorder with the right specs, deciding what frame rate/resolution it should be able to shoot at, and what type of microphone to use to capture sound.

Dead on.

4. Your firm is proud of the project that it recently completed, and would like to give it greater visibility by entering it into an awards competition. What should you consider when searching for an appropriate competition to submit to? 

• What are your next opportunities for entering an awards competition? Create a system to keep track of awards opportunities, and update it with information gathered by contacting A/E/C associations, reading relevant publications and reaching out to your network.

• Does your project meet the criteria of that particular awards program?

• Will winning the award boost your firm's visibility in your target
market/audience?

• Do you have a good chance of winning the competition? Review the past winners and compare them (objectively) against your own project.

We became the Greenest Office in Cincinnati. Nothing happened. Probably not the right type of promotion to identified targets. We did learn that it is the client you have to find. That was harder than we expected and possible to find. We have put into place a grass roots program over the last three years and hope that results in the type of client that doesn't put energy savings at the top of their list. That's not the point of environmental sustainability. I was told yesterday that only 5% of office space had converted their incandescent bulbs to LED. My clients and prospects have created multi million dollar businesses doing those conversions. I should be able to help them with better research and planning.

5. The first year anniversary of your company's entry into the new market is coming up, and you want to plan a special event for the occasion. What steps can you take to ensure that the event makes a favorable lasting impression on potential and current clients? 

• Clearly define your goals for hosting the event before you begin planning it.

• Develop a creative concept that represents your firm's personality and appeals to your target audience.

• Create a checklist of every activity and task that must be accomplished both before and during the event, along with who is responsible for implementation. Include contingency plans for anything that might go wrong.

Great action items. 

Contents

1. Develop and Maintain Corporate Identity

1.1 Use Primary Research to Determine Brand Perception and Identity

1.2 Develop a Vision and Mission Statement

1.3 Develop a Unique Value Proposition

1.4 Create an Identity Map

1.4.1 Generalist vs Specialist

1.4.2 Client Driven vs Market Driven

1.4.3 Design vs Execution Focus

1.4.4 Unique vs "Me Too" Player

1.5 Determine Elements of a Corporate Identity Program

1.5.1 Brand Architecture and Naming Conventions

1.5.2 Graphic Design Elements

1.5.3 Messaging

1.6 Create Standards

1.7 KeyTerms

2. Develop and Implement a Communications Plan

2.1 Develop a Communications Plan

2.1.1 Define Your Communications Objectives

2.1.2 Engage Firm Stakeholders

2.1.3 Identify Key Topics

2.1.4 Define Your Target Audience

2.1.5 Create a Set of Communications Initiatives

2.2 Develop a Social Media Plan

2.2.1 Determine Target Audience and Goals for Each Platform

2.2.2 Best Practices for Developing a Plan

2.2.3 Track Progress, Determine Reach/Followers, and Track Return on Investment (ROI) Metrics

2.3 Maintain a Web Presence

2.3.1 Determine Website Strategy

2.3.2 Merging Current Systems with New Site's Structure

2.3.3 Integration

2.3.4 Benchmark Competitors' Websites

2.3.5 Monitor and Manage Analytics

2.4 Key Terms

3. Media Relations

3.1 Strategy and Planning

3.2 Maintain a Media List

3.2.1 Research National Publications in Key Market Segments

3.2.2 Local List

3.3 Draft News Releases

3.3.1 Sample News Releases

3.3.2 Assign Responsibility to In-House Staff or an Outside Consultant

3.4 Distribute Approved Release

3.5 Contacting the Media

3.5.1 Follow-Up Protocols

3.6 Publish Newsletter or Journal Articles

3.6.1 Choose a Topic

3.6.2 Getting Published

3.6.3 Determine the Communication Channel

3.7 Train Staff to Interact with Media

3.7.1 Identify Personnel to Interact With the Press

3.7.2 Training

3.8 Key Terms

4. Create Digital Content

4.1 Using Multimedia

4.2 Videos

4.2.1 Video Marketing

4.2.2 Develop a Video Plan

4.2.3 Legal Issues

4.3 Audio Podcasts

4.4 Key Terms

5. Coordinate Photography

5.1 Develop a Plan that Aligns with Marketing, BD, and Strategic Plan Goals

5.2 Identify Budget and Resources

5.2.1 Photographing People

5.2.2 Photographing Projects

5.2.3 Stock Photos

5.3 Elements of a Strong Photo

5.3.1 Taking the Photos Yourself

5.4 Best Practices for Working with Architectural Photographers

5.5 Legal Issues

5.6 Key Terms

6. Prepare Award Competition Entries

6.1 Why Enter?

6.2 Track Award Opportunities

6.3 Determine Likelihood of Winning Award

6.4 Include Visuals

6.5 Include the Voice of the Client in the Award Narrative

6.6 Budget Time and Resources for Editing, Proofing, Etc. 

6.7 Key Terms

7. Develop an Advertising Plan

7.1 Establish an Advertising Rational

7.2 Relate Goals and Target Audience to Overall marketing Plan

7.3 Different Types of Ads and Sponsorships

7.3.1 Institutional or Image Advertising 7.3.2 Service Advertising

7.3.3 Tombstone Advertisements

7.3.4 Broadcast Advertising

7.3.5 Advertorials

7.3.6 Social Media Advertising

7.3.7 PBS Underwriting

7.4 Key Terms

8. Plan Trade show Activities and Conference Speaking

8.1 Decide Whether to Participate

8.1.1 Types of Trade shows/Conferences

8.1.2 Align Your Goals with Trade show/Conference Opportunities

8.2 Develop a Budget

8.3 Craft a Plan of Engagement

8.3.1 Choose Your Speaker's Topic

8.3.2 Identify the Appropriate Participants for your Booth

8.3.3 Constructing a Display

8.3.4 Level of Presence

8.4 Gather Information and Follow Up

8.5 Evaluate ROI Post-Show

8.6 Key Terms

9. Coordinate Firm Special Events 

9.1 Plan the Event

9.1.1 Define Your Goals

9.1.2 Identify Your Audience

9.1.3 Develop the Central Concept

9.1.4 Give it the Creative Sparkle

9.2 Check, then Double Check

9.3 Post Event

9.4 Other Corporate Entertainment Strategies

9.5 Key Terms

10 Select Vendors and Consultants

10.1 Define the Scope of Work

10.2 Select and Interview Vendors and Consultants

10.3 Manage and Direct Activities of Consultants

10.4 Key Terms

11 Case Study Activity

12 Glossary

13 Related Resources

14 Figures

15 Index·

16 About the Photographer

17 Peer Review

18 Body of Knowledge Subject Matter Experts (SM Es)

I love this entire Domain. Everything in it I have experienced first hand and agree with the analysis and methods.

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