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Global Process Equipment Market Investment Forecast Anticipated Around USD 3.59 Billion by 2023

Mon, Jun 11, 2018 @ 08:38 PM / by jessica aniston posted in Industrial Marketing, Marketing Communications, Public Relations PR, Process Equipment Marketing, Industrial Marketing Handbook, Industrial pr

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Global Process Equipment Market

Process Equipment Market Research Report offers an exceptional tool for assessing the market, featured openings, and supporting key and strategic leadership. This report recognizes quick advancing and competitive condition, Process Equipment marketing data is fundamental to monitor execution and settle on basic choices for development and benefit. It gives data on patterns and improvements, and spotlights on business sectors and materials, limits and innovations, and on the changing structure of the Process Equipment market.

Scope of Process Equipment Market: 

Global Process Equipment market which was esteemed at USD 2 Billion in 2017 and has been anticipated to extend up to USD 3.59 Billion over the measure time span, with an overwhelming CAGR of 10.25% from 2018 to 2023 independently.

Process Equipment report assesses the development rate and the market esteem in view of market elements, development initiating factors. The total Process Equipment information depends on most recent industry news, openings, patterns. The report contains a thorough market examination and Process Equipment players landscape SWOT, PESTEL, and Porter Five Force Analysis of the Key Players.

Request Sample PDF Report at: https://market.biz/report/global-and-regional-process-equipment-market-hny/238907/#requestforsample

Process Equipment Key Players In Process Equipment Report:  Westrup, PETKUS Technologie, Cimbria A/S, Lewis M. Carter Manufacturing and Alvan Blanch Development Company

Market Arrangement By Process Equipment Types:  Biological, Chemical and Mechanical

Market Arrangement By Process Equipment Application:  Coaters, Graders, SEPArators, Cleaners and Dryers

Process Equipment Market Development By Regions Include –  UK, China, India, Africa, France, Russia, Germany, Korea, Australia, Middle East, Southeast Asia, Japan, United States, Brazil, Mexico, Italy and Canada

Significant Focuses Shrouded in this Report are: 

Process Equipment Industry Overview

Cost Structure Information

Deals and Process Equipment Revenue Information

Process Equipment Market Analysis by Leading Regions

Market Progression by Circumstances, Imperative and Main impetus

Attainability information of New Ventures establishment

This report focuses on the global as well regional Process Equipment markets, gathering information on major companies such as distributors, traders, financiers, industrialists, Process Equipment different clients, applications, categories etc.

Have Any Query? Ask Our Specialist at: https://market.biz/report/global-and-regional-process-equipment-market-hny/238907/#inquiry

TOC points Covered In This Research Report:

1. Global Process Equipment Market Overview

2. Global Process Equipment Product Size Analysis (2018-2023)

3. Company Sales Profiles Analysis

4. Global Process Equipment Consumption Analysis by Vendors

5. Production, Process Equipment Sales and Consumption Market

6. Major Manufacturers Production and Competitive Analysis

7. Process Equipment Application Development Status and Outlook

8. Process Equipment Type Development Status and Outlook

9. Process Equipment Industry Chain and Outlook

10. Global and Regional Outlook

11. Vendors Analysis

12. New Process Equipment Project Investment Analysis

13. Research Process Equipment Conclusions

14. Appendix

Global Process Equipment market report also indicates the evolution of upcoming opportunities for the new competitors in the market. The major stats provided by the researcher are based on the primary, secondary as well as a press release in the global Process Equipment market report. In addition, the report consists of latest and advanced updates, collated by the Process Equipment international expert team.

 

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 Learn more by visiting Business Investor, where this article was originally published.


Do you have more serious problems than worrying about your processing equipment marketing? To get your feet back on the ground, read the following e-Book for advice on the basics of marketing from your MBA class. Or learn more from our Marketing Handbook page.

Strategic Content Creation Handbook by Cincinnati Advertising Agency, Lohre & Associates

 

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SMPS - CPSM Exam - Industrial Marketing Management

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

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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 Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer 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.

If you would like to do the right thing, give me a call for lunch and a...

 Complimentary Green Building Consultation

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SMPS - CPSM Exam - Industrial Marketing Proposals

Sat, Dec 02, 2017 @ 09:00 PM / by Chuck Lohre posted in Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing, Business Development

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Great Proposals Match Your People's Talents To The Client's Needs

Recently I listened to the award story for a theatre. It told several stories about the different types of groups that went to the playhouse. The young girl going to the Nutcracker for the first time with her grandmother. The story of a young couple going to Romeo and Juliet. The older couple enjoying an evening together with friends. And the young professionals so anxious to see and be seen. They had the director crying. The patrons wide eyed about the world that could be created as a part of their legacy. They are now seeking more funds to realize their dream.

This is a true story. The work went to a firm that wasn't known for their theatre work. Another secret ingredient was bringing in the best sound designer in the world. True Industrial Marketing Proposals follow this path.

Be sure to follow the instructions so you don't get uninvited to the party. And be careful you don't show your hand to your competitors. Many times subs will be included on several proposals, they aren't your friends.

Industrial Marketing Proposals.png

 

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.

I have very little knowledge of these types of negotiations. I can imagine such things for my much larger clients but most of the time they didn't work out so well. Buying $100,000 worth of equipment to enter a new market only to find that it wasn't the performer you thought it was. The engineering world appears to be black and white but it isn't.

• 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.

Gilmore & Associates, the mid-sized engineering firm you work for, has been presented with a game-changing opportunity. You've recently been leading the effort to transition your firm away from working primarily in the education sector, and towards healthcare projects that serve the growing retiree community in the area. One of the prospective clients that your team has been building a relationship with has just mentioned a new project that they will be embarking on in the upcoming year-a retirement community with a built-in rehabilitation facility that caters specifically to the needs of older adults.

This project is perfectly in line with your firm's strategic objectives, and the CEO is excited to go after it. It doesn't take long for your decision team to reach a "go" decision. Knowing about this project early on gives you plenty of time to develop a winning proposal.

1. Since your firm hasn't worked on many healthcare projects before, you are considering forming a partnership with a more experienced firm to improve your chances of winning the project. What factors should you consider when evaluating a firm as a potential partner?

2. The client releases the RFP, and the convoluted structure of the document makes it difficult to parse out what, precisely, is being requested. How can you ensure that you fully comprehend and meet all of the proposal requirements?

3. What can you do to make your proposal stand out?

4. You are informed that your project team has made the short list. You and two other firms have been invited to present on how your design for the retirement facility will best meet the client's needs. What can you do to prepare for the upcoming presentation and interview?

5. Your hard work has been rewarded-your firm won the project! How can you make the most of the debriefing session to help you relive this success in future proposals?

1. Since your firm hasn't worked on many healthcare projects before, you are considering forming a partnership with a more experienced firm to improve your chances of winning the project. What factors should you consider when evaluating a firm as a potential partner?

• Compare the skills and expertise required by the client against your firm's ability to provide them. Would a potential partner be able to fill in the gaps?

Most recently we have won work writing technical articles but the price points have been hard to make. These are very complicated mechanical engineering articles about electric motors and gearboxes. I wonder how or who I would partner with. I don't like the typical response from writers, "That's what I do, write about things I don't know about." Usually I'll research the internet for everything publically shared and then distill it down to two or three thousand words. But even that put us upside down about 100% for the project.

• Evaluate the strength of your relationship with the client. Do you have ties with the decision makers in the client's firm? Would your proposal benefit by partnering with a firm that knows the client better?

• Consider the culture of the firm that you're thinking about teaming with. Is it compatible with your own firm's culture, or will it require a major adjustment? Do your teams get along?

The tips about how to negociate things other than the price are good. Timing. Rights. What other things could I ask for. They have already given us a testimonial letter.

• Does the client have participation goals for SDBE firms?

2. The client releases the RFP, and the convoluted structure of the document makes it difficult to parse out what, precisely, is being requested. How can you ensure that you fully comprehend and meet all of the proposal requirements?

I'm thinking about doing the same thing with these Domains. Fo me, the real reason I'm studying is to learn how to grow my company. I've learned that you need to grow from your employees' strengths. You need to match that with growing markets. Doesn't sound too hard. The hard part is finding the right audience. You can't by a list or do any kind of shotgun approach. Mailing to a list or even, like I do, go to trade shows to approach the right audience. Sometimes VP of sales is looking for a new agency at a show, they do have marketing on their mind. But the real way to market is to right a focused web site, like Myke Amend did for us, industrialwebdevelopment.com has brought us two new clients that are perfectly matched to our skills, and very profitable.

• Use a compliance matrix to deconstruct the RFP and reorganize it so that related information is grouped together.

• Develop questions and submit any requests for clarification to your point of contact in the client's firm.

• Find out if the questions and answers will be posted publically for your competitors to see.

• Ask your BD team what they know about the client's hot buttons. This information can be used to figure out their unstated requirements.

This happens if you have an inside champion. If you don't, don't even bother bidding.

• Create a detailed work plan, complete with a schedule for tracking proposal elements and assigning responsibilities, so that none of the proposal requirements are ignored.

3. What can you do to make your proposal stand out?

• Build your proposal around a unifying theme that highlights the differentiators that your firm has that will most benefit your client.

• Tell a story, through examples and statistics, of how your team has provided value for similar projects in the past. Use text and graphics to create an engaging narrative. For example, the ways in which your experience designing K-12 schools have prepared you for designing this similarly-sized retirement facility.

• Think about why each project team member was selected and highlight their expertise.

• Keep the focus on your client-how your firm will address their worries, hopes, and needs.

The last public works project I bid on, we lost. We did everything above but there was something we didn't know. Something we weren't told. The large web site project went to another firm and was typified by the computer programmers hanging out in the parking lot smoking cigarettes. I wish we could have had a debrief but it wasn't offered. They did share a copy of the winning proposal but it didn't uncover any clues. The importance of having an inside champion can't be over stressed. I'm not sure how it all works, and not bitter about losing the work or wasting time but not knowing why they chose one firm over another is troublesome.

4. You are informed that your project team has made the short list. You and two other firms have been invited to present on how your design for the retirement facility will best meet the client's needs. What can you do to prepare for the upcoming presentation and interview? 

• Find out from your BD team what the client is looking for in the presentation. Identify and address their concerns with solutions that differentiate you from your competition.

• Visit the presentation space, if possible, or ask to see a picture of it so that you know what to expect on the day of the interview.

• Develop a storyboard to outline the presentation and ensure that all elements-salient points, graphics, narrative, etc.-flow together.

• Make sure that you have a contingency plan for anything that might go wrong, including technological difficulties.

• Rehearse the entire presentation at least three times, until all of your speakers can present their material conversationally and without notes.

5. Your hard work has been rewarded-your firm won the project! How can you make the most of the debriefing session to help you relive this success in future proposals?

8 Develop open-ended questions that encourage the client to talk freely. Consider the debrief a conversation, rather than a formal interview.

• Find out what aspects of your proposal and interview that the client likes the most, and the least.

• Ask for any recommendations that they have for your future submittals.

• Find out if there are any other RFP opportunities in the near future that your firm might apply for.

 

Contents

1. Prepare to Win

1.1 Make a Go/No-Go Decision

1.1.1 Build aDecisionTeam

1.1.2 Understand Which Factors Affect the Success of a Project

1.2 Identify Firms for Teaming/Partnering 

1.2.1 Affirmative Action Opportunities

1.3 Key Terms

2. Organize to Win

2.1 Read and Understand the Contents of the Request for Proposal (RFP)/Request for Qualifications (RFQ)

2.2 Conduct an RFQ/RFP Strategy Session

2.3 Develop a Work Plan 

2.3.1 Develop a Schedule for Tracking Proposal Elements

2.3.2 Develop an Overall Proposal Tracking

2.3.3 Use Templates

2.4· Key Terms

3. Respond to Win

3.1 Draft a Cover Letter

3.2 Draft a Proposal

3.2.1 Tell a Story

3.2.2 Spotlight Your Experts

3.2.3 Use Graphics

3.2.4 Use Direct and Concise Language

3.3 Complete Government Forms

3.3.1 Understand the Standard Form 330 (SF 330)

3.3.2 Understand the Standard Form 255/254 (SF 255/254)

3.3.3 Differentiate Your Firm

3.4 Develop and Implement a Quality Assurance/Quality Control (QA/QC) Process

3.4.2 Determine Who Will Participate, and How

3.5 Key Terms

4. Present to Win

4.1 Develop Your Presentation/Interview Strategy

4.2 Prepare Presentation Materials 4.2.1 Determine the Format of Your Presentation

4.3 Select Personnel Based on Your Proposal Strategy

4.4 Identify Presentation Meeting Space and Equipment Needs

4.5 Rehearse

4.5.1 Conduct a Mock Interview

4.6 Key Terms

5. Close to Win

5.1 Develop a Proposal Close-Out Process

5.1.1 Update Content Resources

5.1.2 Organize the Files

5.1.3 Log Win Rates and Pursuit Costs

5.2 Conduct a Post-Award Debriefing

5.2.1 Choose the Participants

5.2.2 Develop Open-Ended Questions

5.2.3 After Action Reviews (AARs)

5.3 Determine the Fee Structure

5.3.1 Understand the Types of Fee Structures Available

5.3.2 Research Historical Costs of Similar Projects 

5.3.3 Be Able to Understand the Contract and All Obligations

5.4 Perform Contract Negotiations

5.4.1 Mitigate Risks

5.4.2 Identify Negotiable vs Non-Negotiable Items

5.4.3 Determine Participants

5.4.4 Collaborate

5.5 Draft a Contract

5.5.1 Understand the Difference in Contracts between Different Delivery Models

5.5.2 Understand the Differences in Contract Relationships

5.6 Sign the Contract

5.7 Key Terms

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SMPS - CPSM Exam - Industrial Marketing Client & Business Development

Wed, Nov 29, 2017 @ 10:01 PM / by Chuck Lohre posted in Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing, Business Development

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Industrial Client and Business Development activity is centered around people you can trust.

The first business development question you need to ask yourself about a potential new client or business relationship is if you can trust them. Trust them to do what they say. Trust them to take you calls. Trust them to champion your relationship with the account. In exchange, you have to act in their best interest. If you want to grow your company, you need to build on your people and the successful work you have done. Everything can lead to another thing, and it's the best business marketers that uncover those opportunities and nurtures their associates to fill those new needs.

Business-Develpoment.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.

• 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.

Your firm, Gilmore & Associates, has committed to becoming a leader in the construction of high-end retirement homes to meet the needs of a rapidly growing market. The company is well established and highly regarded in your geographical area, but is best known for its work building K-12 school facilities.

As the marketing coordinator, you need to come up with a strategy to leverage your strong relationships in the community to identify a new set of clients in the older adult healthcare industry. This will involve taking advantage of your current network and activities areas to develop a different line of business.

1. What are the two types of performance metrics that you could use to evaluate the success of your staff's BD efforts?

2. Through your existing network, you've identified five local firms as potential clients and received initial introductions. How can you use these budding relationships to gather information on the best way for your firm to enter the retirement community market?

3. One of your BD staff members is becoming close to a decision maker at a prospective client's company, but the efforts spent on developing the relationship are much greater than those being spent on any other prospective client. What do you need to consider in order to tell whether any eventual work gained with this client is going to be worth the added expense now? 

4. Although most of your BD energy is currently directed towards making new relationships in this new market, you don't want to completely lose touch with clients that your company designed schools for in the past. What steps can you take to maintain a relationship with the clients with whom you want to keep
in contact?

5. Gilmore & Associates implemented a new CRM system just over a year ago, and you notice that many staff members do not feel comfortable using it. Many of them use their own individual systems of relationship tracking, and as a result, the information on the firm's CRM system is already out of date and is poorly integrated with the other data management systems. What can you do to address this problem and maintain a useful system? 

1. What are the two types of performance metrics that you could use to evaluate the success of your staff's BD efforts?

• Activity-oriented metrics. These include the number of sales calls or contacts made, the number of events attended with prospective clients, the number of research projects performed, etc.

• Results-oriented metrics. These include the number of new contracts written, the number of RFPs received, dollars secured vs dollars sought, etc.

2. Through your existing network, you've identified five local firms as potential clients and received initial introductions. How can you use these budding relationships to gather information on the best way for your firm to enter the retirement community market?

• Look for partnering opportunities. If one of those potential clients has a new project on the line that your firm isn't experienced enough to do alone, you may still have some value that would enhance a competitor's proposal. By working on the project with them, you gain the experience necessary to later pursue a project on your own.

• Find out who those firms identify as thought leaders in the industry. These are the people whose ideas you may want to study and apply, as appropriate, to your own organization. Collaborating with thought leaders is also a good way to make your firm better known in an industry.

• Conduct a client perception study. Data from perception surveys can show you how your firm is viewed within this market-for instance, whether your services are widely known, or how you compare to the competition. You can also ask about the trends that impact their business and who they view as the leading providers of certain services.

3. One of your BD staff members is becoming close to a decision maker at a prospective client's company, but the efforts spent on developing the relationship are much greater than those being spent on any other prospective client. What do you need to consider in order to tell whether any eventual work gained with this client is going to be worth the added expense now? 

• The decision of whether a client is "worth" the pursuit depends on what your firm's strategic and marketing goals are, and whether the client is likely to help you to achieve them compared to the level of risk associated with investing in a relationship that might not pay off. The goal is to obtain a high return on investment with the lowest possible risk. 

For me, the best indication that you have a real shot is when you meet with the president of a company first and they introduce you to the VP and other managers. It's their blessing that make all the difference. of course, I've courted those presidents for decades. Just wating for them to make their move.

• Since Gilmore & Associates wants to gain experience in a new market, targeted clients will include those in the targeted market who will ultimately be able to bring you into that market. This might include clients who have interesting projects to which you want to attach your name and gain publicity through, those who have multiple projects lined up that you could perform, and those who can recommend you to other potential clients in the same market.

• The client might be risky if they c1lready have an existing long-term relationship with a competing firm, if they have a high turnover rate among their decision makers, or if the company has been involved in any litigation.

4. Although most of your BD energy is currently directed towards making new relationships in this new market, you don't want to completely lose touch with clients that your company designed schools for in the past. What steps can you take to maintain a relationship with the clients with whom you want to keep in contact?

• Assign a client manager to each account who will be responsible for nurturing and maintaining that relationship.

• Make sure that your past clients are kept up-to-date on any service lines or skills that you add to your repertoire. Social media is one tool for accomplishing this.

• Contact former clients every now and then just to say hello and see how things are going. Use your CRM system to keep track of what is happening in the organization, and in their personal lives.

5. Gilmore & Associates implemented a new CRM system just over a year ago, and you notice that many staff members still do not feel comfortable using it. Many of them use their own individual systems of relationship tracking, and as a result the information on the firm's CRM system is already out of date and is poorly integrated with the other data management systems. What can you do to address this problem and maintain a useful system?

• Create a document that defines the process for data entry. Each user should know exactly what information they should be tracking, and how to do so.

• Schedule additional, hands-on training sess·ions with each user group. Check in periodically in the months afterward to see if ongoing training is needed to ensure that all users are comfortable with the system.

• Keep track of which user is adding what information. This way, problems with integrity that is isolated to one user can be addressed by providing that user with more training.

• Perform a regular evaluation of the entire system at least once per year to confirm that the data it contains is accurate. 

Contents

Domain 3: Client.& Business.Deveiop􀀇ment

1. Create Business Development (BD) Strategies

1.1 Understand the Entire Sales Process

1.2 Identify Goals Based on Markets, Client Types, and/or Services

1.3 Set Baseline and Sales Performance Metrics and Standards

1.4 Develop Project-Pursuit or Capture Plans

1.5 Focus on Differentiation

1.6 Key Terms

2. Research Prospective Client Industries

2.1 Research Industry Trends

2.1.1 Set the Stage for Effective Research

2.1.2 Consider the Following

2.1.3 Use the Results

2.2 Research Strategic Partners and Influencers

2.2.1 Associations

2.2.2 Joint Ventures

2.2.3 Alliances

2.2.4 Design-Build Partnerships

2.3 Identify Thought Leaders

I thought the tip to ask prospects what thought leaders they follow was a great idea. I've never had a client be able to tell me that. Most recently it has been just the general importance of their web site. That is the real thought leader today, but that's not very inspiring. The second most important thing I hear and judge clients on is quick, personal and sincere response to every inquiry. One client guarantees a reply within two hours.

For me, it's this SMPS path. The writers and producers of these Domains are the most up to date and documented industrial marketing system I have seen. With multi-million dollar industrial equipment sales, selling is much more like selling a building design and construction than lower priced more emotional decisions taught with the Sandler, P&G or Dale Carnegie Systems.

2.4 Conduct Client Perception Studies

2.5 Key Terms

3. Pre-Qualify a Client

3.1 Develop Client Evaluation Criteria

3.2 Research the Client's Financial Stability

3.3 Determine Repeat Client Potential

3.4 Determine if the Client Fits With Your Firm's Culture and Values

3.5 Determine Whether the Client Provides Your Firm With Opportunities for Growth

3.6 Determine Profitability Potential

3.7 Key Terms

4. Pre-Qualify a Project

4.1 Develop Criteria for Project Go/No-Go Decisions

4.1.1 Does the Project Adhere to Your Business/Marketing Plan Objectives?

4.1.2 Can You Differentiate Yourselves to Wire or Win?

4.1.3 What is Your Potential for Meeting Profitability Targets?

4.1.4 Do You Have Relevant Expertise?

4.1.5 Consider the Intangibles

4.2 Conduct Continuous Re-evaluation Throughout the Sales Cycle

4.3 Key Terms

5. Build a Relationship with Prospective Clients

5.1 Understand How Trust is Built

5.2 Understand How to Conduct Warm or Cold Calls

5.3 Execute Access Strategies

5.4 Evaluate the Strength of Your Relationships

5.5 Develop Client-Specific Differentiator Strategies

5.6 Leverage Social media Channels

5.7 Key Terms

6. Maintain a Relationship with Past Clients

6.1 Identify the Clients You Wish to Keep in Contact With

6.2 Develop a Key Account Strategy

6.2.1 Provide Solutions and Reduce Client Hassles

My Dad always told us to say, "I'll find out," when you got a question you didn't know the answer to.

6.2.2 Nurture and Build Business Through Cross-Selling

6.3 Identify a Client Manager for Each Account 

6.4 Develop Communication and Outreach Strategies

6.5 Determine How Accounts will be Measured and Tracked

Research, Plan, People, Measure, Report, Improve and Repeat - these themes are repeated over and over in any best practice. For P&G's sales method, it's setting a goal and determining the steps to reach it. 

Ten years ago, before I knew much about re-positioning, I pitched a simple method,"Quality, Education, Feedback." I lost the account, the VP of Sales said because that was more tactical and he wanted strategic.

6.5.1 Four Stages of Account Tracking Systems

6.5.2 Identifying Your Needs

6.6 Develop Rewards and Incentives

6.6.1 Managing Conflict

6.7 Obtain Feedback and Update Your BD Plan

6.8 Key Terms

7. Choose, Implement, and Maintain a Customer Relationship Management (CRM) System

7.1 Document Your Goals/Expectations

7.2 Research CRM Tools

7.3 Define the Process for Data Entry

7.4 Implement the System

7.4.1 Provide Implementation Resources and Training

7.5 Maintain the System

7.6 Key Terms

8. Measure Client Satisfaction and Address Gaps in Performance/Results

8.1 Determine Your Objectives ·

8.1.1 Satisfaction

8.1.2 Loyalty

8.1.3 Influence 

8.2 Determine the Methodology (Direct vs Indirect)

8.3 Determine the Frequency of Outreach

8.3.1 Firm and Client Impact

8.3.2 Project-Specific Events

8.4 Design the Research Instrument

8.4.1 Interviews

8.4.2 Surveys

8.5 Key Terms 

 

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SMPS - CPSM Exam - Industrial Marketing Planning

Sun, Nov 26, 2017 @ 08:08 PM / by Chuck Lohre posted in Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing

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Industrial Marketing Planning is Based on Research.

What markets are growing, what markets are shrinking? What people skills to you have to move into different markets. But that's the research part of the problem. Once you have the research, you need to go after the market. 

Marketing planning will match your employee's talents to the emerging markets you have identified. Client and business development will manage the budding client relationships. Proposals will get you the work. Promotional activity will help your first successful project in the new industry be known. Professional management will put into place the tools needed to rinse and repeat.

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.

Your mid-sized engineering firm, Gilmore & Associates, has long been a leader in the construction of K-12 school facilities. Recent changes, driven by aging Baby Boomers and an influx of retirees, have caused this market to decline, and your CEO is looking to expand into the healthcare industry. As the marketing coordinator, you've made an assessment of you firm's current situation and it's clear that things need to change, as well over half of your current revenue is coming from school construction.

However, your preliminary research has identified several exciting new possibilities, including the need for upscale retirement homes and hospice facilities. Your CEO has tasked your group to come up with a marketing plan that will set the firm up to succeed in this new environment.

1. Based on the demographic data, you've established that there's a growing need for healthcare facilities in your area. You're also clear that the strengths of your firm align better with building retirement homes rather than hospitals or clinics. What type of research would best help you in creating a plan that will turn these insights into a workable marketing plan?

2. Besides conducting research, what are some of the key steps that you will take to develop your marketing plan?

3. What things will you need to keep in mind when developing your marketing budget?

4. What are some of the strategies that you will put into place to reach your marketing goals, as set forth in the plan?

5. What measures will you put into place to assess how well your plan is performing?

Answer Key

1. Based on the demographic data, you've established that there's a growing need for healthcare facilities in your area. You're also clear that the strengths of your firm align better with building retirement homes rather than hospitals or clinics. What type of research would best help you in creating a plan that will turn these insights into a workable marketing plan?

Since you're already clear on the demographic trends in your area, research how large the retirement home market will be for your area over the next five years (for example).

You will need to decide whether to do your own research, perhaps by conducting surveys in carefully selected communities, or rely on secondary research by looking at existing industry data and local government research. The decision will come down to a question of cost and how much good data already exists. You will probably need to gather both qualitative and quantitative data-qualitative, in the sense that good retirement home design is something of an art; and quantitative, in that you will need to have hard numbers to back up any projections that you make about the number of facilities that will be needed.

2. Besides conducting research, what are some of the key steps that you will take to develop your marketing plan?

Identify the marketing forces that affect your business. For example, you can use Porter's Five Forces model to assess your relative bargaining strength with potential clients, your relationship with suppliers, and how you measure up to the competition.

Participate in strategic planning with senior staff to clarify the overall goals and objectives of the organization, to provide a context for the marketing plan that you are developing.

Develop a vision statement that encapsulates the firm's strategic objectives, and reflects how you want the company to be perceived in the marketplace. Just as you have been seen as the premier provider of school facilities in the region, your new goal is to become known as the Cadillac of the retirement home industry.

Develop clear and quantifiable goals; for example, you could decide that your goal is to partner with a healthcare provider to build two profitable retirement facilities over the next two years.

Identify specific target markets. Where are you going to locate your retirement facilities? You may want them close to an existing hospital, for example, and within an easy bus ride to a cultural center.

3. What things will you need to keep in mind when developing your marketing budget?
You'll need to decide on a budgeting methodology. Will you use the Projection Method, which looks at prior year costs to develop the upcoming year's budget? Or the Percentage Method, which allocates a set percentage of the firm's total operation revenues to marketing? Or will you go with Goal­Based Budgeting, which assigns costs to each item in your marketing plan?

You'll have to budget for labor costs, by estimating the time that everyone in the firm will devote to marketing. This includes not only marketing staff, but the time spent by principals in marketing and selling.

You'll need to decide how to track expenses related to marketing, such as travel and entertainment, photography, printing costs, organization dues, office supplies, and the like.

4. What are some of the strategies that you will put into place to reach your marketing goals, as set forth in the plan?

Networking. You may find that firms that you .have partnered with in the past are also looking to get into a new line of business

Contacting professional organizations in the healthcare industry, to better understand the specific issues surrounding elder-care facilities and to get to know key players in the healthcare community

Developing a public relations campaign to get the message out that you are becoming a player in the healthcare industry

Building a presence on social media, both to advertise the new face of your company and to target prospective clients

5. What measures will you put into place to assess how well your plan is performing?
You may want to use a CRM system to track leads, proposals, and the activities that drive costs and revenues, even if you track actual expenses in an accounting system.

Lead reports, hit rate reports, and sales reports all provide quantifiable data on how well the company is doing month to month, and will provide an early warning if the plan is going off track.

Benchmarking allows you to keep tabs on internal progress; by evaluating progress against an internal goal of generating X number of proposals in an quarter, for example, the marketing team can judge whether it is on.track to fulfilling its overall goal of hitting its revenue goals.

A cost/benefit analysis of your marketing effort will let you know the value that you are getting for the money and time expended. The key is to understand the total costs in time and money, and to fully appreciate the value realized.
 

Domain 2: Marketing Planning

Analyze Data of Relevant Industries and Competitors

1.1 Understand Methods and Models of Research

1.1.1 Action-Driving vs Action-Confirming Research

1.1.2 Primary vs Secondary Research

1.1.3 Qualitative vs Quantitative Research

1.2 Identify Sources of Relevant Data

1.3 Prioritize Data for Relevance to Firm's Strategic, Marketing, and Business Development (BD) Plans

1.4 Reporting and Tracking of Data

1.5 Key Terms

2. Analyze Relevant Historical and Contemporary Data

2.1 Identify Sources of Relevant Data, Company's Historic Data (Internal and External)

2.2 Models for Identifying Market Forces

2.2.1 Porter's Five Forces

This really focuses on the power of the people that control the industry. They will not want you to take their cheese. Buyers will do what they have always done and may want a bribe. Suppliers won't help you learn their other customers. In common technologies, competitors are everywhere. I'm not quite sure what, "The best market is the one that is difficult to enter, yet easy to exit." If that was the case, I should leverage my Frank Lloyd Wright House.  It is what has gotten me into researching the architectural, engineering and construction markets but they have not been easy to enter. But learning this SMPS mythology will help me enter the market. TO wrap up Porter's Five Forces substitute products can't be invented that fast in marketing as long as you keep up with the internet. The final one is rivalry. There's a lot of that.

2.2.2 EPISTLE

Economic
Political
international
Socio-Cultural
Technological
Legal
Environmental

All of these things can prevent your success. They are why it is so frustrating to enter a new market or invent one.

2.3 Key Terms

3. Analyze Focused Market-Specific Data

3.1 Describe and Analyze Data

3.2 Forecast Based on Collected Information

3.3 Key Terms

4. Interpret Market Research Results

You always have to reconfirm your research.

4.1 Analysis vs Interpretation of Data

4.2 Forecast Based on Collected Information

4.3 Key Terms

5. Conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis 

5.1 Understand How to Construct a SWOT Matrix

5.2 Tactics for Identifying Strengths, Weaknesses, Opportunities, and Threats

5.3 Setting Priorities for a SWOT Analysis

Every marketing activity needs to start with thinking about your Strength and Weaknesses and your outside Opportunities and Threats.

5.4 Alternative Models

5.5 Key Terms

6. Collect Industry Marketing Cost Data

6.1 Identify Sources of Relevant Data

6.2 Analyze and Apply Data

6.3 Key Terms

7. Participate in Strategic Planning

This is always the easiest thing to say you are going to do but almost impossible to execute. With the help of this marketing methodology will help you succeed. I used to think they were a meaningless example of corporate bullshit. But when properly used a strategic plan really is a survival plan. You need to be a driven company whose goal is to enter new markets. Most strategic plans are just marketing mush, a real plan is a real need.

Strategic-Planning-Model.jpg

7.1 Understanding the Strategic Planning Process/Models

It's all hidden in the illustration. The target, the reason, the willpower, the weapons and the victims, "(you) will be the first to find, and profitably capitalize on, emerging opportunities before the competition can."

7.2 Understanding the Firm's Big Picture Operations and Finance

7.3 Bringing Relevant Data to the Table

7.4 Key Terms

8. Develop a Vision Statement - What you aspire to be?

Here's another one I just don't get. No words on a piece of paper can change the future. It comes down to caring. What do you care about? That is the only reason things change. Making a statement about yourself doesn't convince clients to work with you. Or your employees.

8.1 Understand Your Firm's Brand Promise and Core Values

8.1.1 What's Our Vision for the Firm?

8.1.2 What's Our Mission? Where do you want to go?

8.1.3 What Do We Want to be Known For?

8.1.4 What Do We Like to Do Most?

8.1.5 Who Are We Competing Against, and What Makes Us Different?

8.2 Analyze Your Firm's Current Position in the Marketplace 

8.3 Facilitate Discussion with Senior Leadership

8.4 Be Effective as Part of the Team (Team Dynamics, Collaboration)

8.5 Writing Skills

8.6 Key Terms

9. Develop Goals and Objectives

How are you going to get there?

9.1 Analyze Your Current Effort

9.2 Identify the Results (Sales, Positioning, etc.) You Want to Achieve, With a Time Frame for Achieving Them

Specific
Measurable
Attainable
Relevant
Tme-Based

9.3 Identify How Your Goals and Objectives Relate to Your Vision Statement, and Measurable Results for Goal Achievement

9.4 Internal Benchmarking, and Developing/Tracking Progressive Goals

9.5 Establish Performance Metrics

9.6 Key Terms

10. Facilitate the Planning Process

10.1 The Basics of Facilitation 

10.1.1 Wearing Different Hats

10.2 Understand the Firm's Goals

10.3 Keep Group on Agenda and Moving Forward 10.3.1 Managing Conflict

10.4 Involve Everyone, Making Sure Contributions are Considered and Included

10.5 Make Sure That Participants Achieve a Mutual Understanding

10.6 Record and Identify Related Action Items

10.7 Understand Different Motivations and Personality Types

Myers-Brigg Type Indicator
Decisive
Interactive
Stabilizing
Cautious

10.8.Key Terms

11. Select Target Markets

11.1 Examine Current Markets and Financial Performance for Each Market (Internal)

11.2 Review Market Research (Trends, Cultural, etc.)

11.3 Prioritize Opportunities that Maximize Your Firm's Unique Value Proposition·

11.4 Key Terms

12 Create a Marketing Plan

One year part of a 3-5 year strategic plan with specific training to be done and battles to be won.

12.1 The Components of a Marketing Plan

12.2 Facilitate the Planning Process to Support and Integrate with the Strategic, BD, and Action Plans

12.3 Key Terms

13 Create a Marketing Budget

13.1 Budgets Support Your Marketing Plan

13.2 Budgets Should Have a Structure that Relates to Your Firm Structure

13.3 Choosing an Appropriate Methodology for Budgeting

13.3.1 The Projection Method  or Comparison  - uses past expense to predict future costs

13.3.2 The Percentage Method - 3 to 18 %

13.3.3 The Goal-Based Budgeting Method or Bottom-Up Method - assigns a cost to each marketing activity

13.4 How to Budget for Labor Costs

13.4.1 Calculating Available Time

13.4.2 Budgeting for the Principals

13.5 How to Budget for Expenses

13.6 Key Terms

14 Set Marketing Goals

14.1 Strategies for Achieving Your Goals

14.1.1 Past and Current Clients

14.1.2 Cold Calling

14.1.3 Networking

14.1.4 Professional Organizations

14.1.5 Community Activities

14.2 Communications Activities

14.2.1 Branding

14.2.2 Public Relations

14.2.3 Social Media

14.2.4 Speaking and Writing

14.3 Key Terms

15. Manage lmplement􀀂ion of a Marketing Plan

15.1 Systems for Tracking Leads

15.1.1 Customer Relationship Management (CRM) Systems

15.1.2 Going the Extra Mile

15.2 Manage People Effectively/Understand Different Individual Motivations·

15.3 Key Terms

16. Manage the Marketing Budget

16.1 Systems Tools for Tracking

16.2 How to Manage Vendors/Consultants

16.3 Key Terms

17 Estimate the Impact of Marketing on the Bottom Line

17.1 Measuring Performance

17.2 Key Terms

18 Estimate Return on Investment of the Marketing Plan

18.1 Benchmark and Measure

18.1.1 Drivers vs Indicators

18.1.2 Understand How Your Firm Defines Success

18.2 Financial Basics

18.3 Systems for Tracking

18.3.1 The Marketing Budget and ROI

18.3.2 Tracking Your Overall Marketing Effort by Tactic

18.4 Key Terms

19. Conduct a Cost/Benefit Analysis of Marketing Efforts 

19.1 Understand the Total Costs (Time and Money)

19.2 Value-Based Decision Making

19.2.1 Quantitative Value

19.2.2 Qualitative Value

19.3 Basic Accounting Principles

19.4 Key Terms

20 Provide a Progress Report on the Marketing Plan 

20.1 Regularly Review Performance Metrics Related to Goals

20.2 Intervals

20.3 Presentation Techniques (Also Applies to Reporting Techniques)

20.4 Key Terms

21 Revise the Marketing Plan 

21.1 Update and Review Market Research for Changes in Market Situation

21.2 Adjust Marketing Plan to Reflect New Information

21.3 The 12-Month Rolling Budget

21.4 Key Terms 

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SMPS - CPSM Exam - Industrial Marketing Research

Fri, Nov 24, 2017 @ 03:35 PM / by Chuck Lohre posted in Green Building Marketing, Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing

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Industrial Marketing is Real People & Real Relationships making Reality. You're not selling lip stick.

The Certified Professional Services Marketer exam will make you an excellent resource for your company and your career. It brings together a rock solid methods for understanding your company's strengths and getting new work in new industies. It's not hard to continue to get work similar to your current expertise. All you need to do is very high quality work, on time and on budget.

It's much more difficult to enter new markets that you don't have experience in and no body knows you. The CPSM Domains of practice show you how you start with your people and their talents and grow from there. The case study uses a firm that has designed schools and illustrates how they used industrial marketing research to sucessfully grew into a similar building type, high end retirement homes.

Marketing Research Word Cloud.png

In the case study we are using to study for the exam, the new management person has been given he task to manage the business development team. From the case study:

"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 BO 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 BO 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 BO culture?"

Items one and two are with regard to the research you need to keep up with. Also in the answer key are a few other bullets regarding research.

"Answer Key

1. What are some processes that you could put into place to ensure the 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.

• 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.

• 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.

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

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? 

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

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

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

The underlined sections relate to research. You need to be aware of the landscape you are working in. Research does that. You have to be sure the market is there and that you will be able to profitably work in it. Your research will go into a pipeline report for your management. The history of a market will confirm the amount of work available and your obtaining some percentage of that work will how your staff accountable. Without knowledge of available work and your obtaining it, you have no marketing plan.

I'll go through the contents of the Marketing Research Domain 1 and comment on each section as a review for my test. Remember, my interest in all this is to move my advertising agency from industrial to architectural and engineering work. I already have my fair share of the industrial accounts in the region. The built environment and building materials market is much larger and the agency will have more opportunities to grow during this resurgence in the economy.

Domain 1: Marketing Research

Navigation Menu

Introduction

1. Research Fundamentals

1.1 Understand the Value of Market Research to Your Firm

1.2 Understand Basic Marketing Research Definitions and Principles, and the Different Types of Research and Research Designs

1.2.1 Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis: The Foundation of Strategic and Marketing Planning Process

I'm not sure how this fits into the research component but you don't want to go after the wrong business sector. Donald Trump said, "Never get into a new market on a downturn." This is exactly what I realized when I tried to get into the building market and the economy collapsed. So I put it on the back burner until now when times are good in infrastructure.

SWOT is important because you can only grow based on your strengths. You must enter related markets first. For the agency it has been internet marketing, it's an easy transition to new markets on the internet because it's more important to know the programming first and the industry second. Both help.

A lot of the time, I go to large trade shows to do research. Back in the 90s I decided to go to the huge machine tool show in Chicago to visit regional companies on the show floor. I spent days reviewing the directory locating companies in greater Cincinnati. I must have visited three dozen firms and introduced myself to the VP of Sales. To make a long story short, I got the account but the VP left for another company in Milwaukee. Two months later I was working for them.

1.2.2 Life Expectancy of Products, Services, and Market Trends

1.2.3 Primary vs Secondary Research-What They Are and When to Use Each

For a lot of small firms this comes down to the numbers and your gut feelings. The most important thing about working for a new company is the chemistry between you and the client. It's nearly impossible to understand most of the chemistry inside a client. You have to rely on your champion to help you navigate.

1.2.4 Quantitative vs Qualitative Research-What They are and When to Use Each

First you have to have a large enough market. Second you have to be liked by your client.

1.2.5 Exploratory vs Confirmatory Research

Explore to find new markets, do an experiment to confirm your hunches.

1.2.6 Evidence-Based Marketing

Sam Walton, the founder of Walmat used to fly around a region he was considering for a story. From the air it's easy to see the neighborhood density and the traffic patterns.

Another great technique in marketing is to do a survey and share it with your prospects of sell the data to your competition. Here''s a blog post that I have collected all of the Green Building Marketing research done in the US, http://green-cincinnati.com/how-to-create-green-building-marketing-communications/.

1.3 Research Steps

1.3.1 Define the Problem and Narrow the Research Objectives

What is my problem? Not enough consistent work. Good clients feed us regular work. Media, blogging and ad words are regular work. Most recently, a new internet development services web site has created a regular stream of work. We are looking at that experience much more closely to see if we can do the same with 3D illustration and industrial photography.

1.3.2 Collect the Data

1.3.3 Analyze the Data

1.3.4 Present the Findings Verbally and/or in Writing

For inspiration on presenting complex concepts go to The Work of Edward Tufte and Graphic Press. A sentence on one of the most popular pages on our site https://www.lohre.com/literature-design

1.4 Ethical and Legal Issues Related to Marketing Research

Ethical Guidlines.jpg

Everyone cheats on their taxes a little bit. Do you really have morals? Do the right thing.

1.4.1 Utility

1.4. 2 Justice

1.4.3 Rights 

1.5 Key Terms

2. Review and Refine the Focus of Your Research

2.1 Conduct a Company Audit

None of our keywords rank very high. They are typically very hard to rank for because marketing over saturates the internet. The ridiculous strategy to rank high for esoteric keywords is pretty dumb. Why would anyone want to waste time writing blog posts for "Industrial Google Ad Word Strategies?"

2.2 Define Your Research Objective

I don't think the lack of consistent work is the real problem. The tree of us need to be busy enough to keep three part time assistents busy. Three is the magical number that you are reaady to hire a new person. We only recovered from our last resession and hired Myke on full time three years ago. We are growing but the pace is way too slow. The economy is doing very well now and there is a lot of work.

2.3 Document Your Research Objective 

The Domain book has a great example of a company that asked What? and didn't ask 'What's most important?

2.4 Determine Relevant Data Points 

Includes measuring ROI on a marketing brochure, I've never seen an ROI for literature. They are used to prompt the sales force to present the marketing message in sequence. One brochure was done in 1977 and only reprinted until 2000 when the company went out of business. I guess longetivity is one measure.

2.5 Key Terms

3. Sourcing Secondary Research and Monitoring Data and Trends

3.1 Identify Sources of Relevant Data

3.1.1 Categories of Resources

3.1.2 Literature Search

3.1.3 Data Mining

3.1.4 Conduct an Audit of the Information Available Internally

3.2 Monitor Social, Demographic, Cultural, Economic Trends/Monitor Industry-Related Market Info/Monitor Federal, State, Local Regulator}' Matters

3.2.1 Maintain a Network of Contacts to Keep Abreast of Relevant Markets and Trends

3.3 Set up Systems to Gather, Store, and Monitor Data

3.3.1 Internal Reports

3.3.2 Research-Gathering Marketing Intelligence 3.3.3 Marketing Research Systems

3.3.4 Analytical Marketing System

3.4 Real Simple Syndication (RSS) Feeds

3.5 Key Terms

4. Designing and Conducting Primary Research Studies

4.1 Establish Your Research Plan (Design the Research Study)

4.1.1 Determining Your Budget

B + K x R x 1/F

BUDGET = Profit KOST at stake x Percentage research will reduce RISK x 1/ROI of new market

We'd like to increase sales by $300,000

$1,000 = $30,000 x 30% x 1/10th

4.1.2 Estimating Time

4.2 Understand the Best Applications to Gather the lnfo􀀚rmation Needed

4.3 Understand How to Administer the Research

4.3.1 Define the Sample Size

As a rule of thumb, a minimum reasonable number of completed surveys or interviews is 25.

4.3.2 Encourage Participation

4.4 Surveys

4.4.1 Types of Surveys

Client satisfaction feedback 
Perception
Market intelligence thoguht leader
Benchmarking
Internal
Focus

4.4.2 Survey Methodologies Overview 4.4.3 Creating Effective Surveys

4.4.4 Types of Questions

4.4.5 Using/Reu􀀊ing Survey Intelligence

4.5 Ethical Considerations

4.6 Conducting your Own Research vs Hiring a Consultant

4.7 Key Terms

5. Forecasting/Modeling

Forecaasting is the ability to predict a future event. The goal is to make the best decision.

5.1 Introduction to Forecasting and its Value to the Marketer

5.2 How to Forecast

5.2.1 Create Scenarios to Prepare for the Future 5.2.2 Anticipate Wild Cards

5.2.3 Iterative Rolling Forecasts

5.3 Trend Assessment Techniques

5.4 Introduction to Knowledge Management and Data Modeling

5.4.1 Marketing Information System (MIS)

5.4.2 Decision Support System (DSS)

5.4.3 Customer Relationship Management (CRM) System

After years of trying to think about what would be the best CRM, I've decided to just use sacks of business cards!. They worked well on the show floor and are a great ligthweight way to prepare for checking in with old and new prospects at the next show. Some of those names will get entered into my iPhone contact list.

5.4.4 Data System

5.4.5 Model System

5.4.6 Marketers and IT

5.5 Key Terms

6. Analyzing/Interpreting Research

Everytime I go to a new show the most important research I do is to take the time to sit down and review the show guide. There is where I force myself to read the name and address of each company. Of course that doesn't work with the new trend in shows, not to publish the addresses of exhibitors. 

6.1 Review/Verify Data

6.1.1 Validating Primary Research

6.1.2 Validating Secondary Research

6.2 Sort, Code, and Enter Data 

6.2.1 Manipulating Quantitative Data

Averages are just that, a median in the middle data point on the list of samples. 

6.2.2 Manipulating Qualitative Data

6.3 Interpret/Apply Your Results 

6.3.1 Evaluating Qualitative Data

6.3.2 Evaluating Quantitative Data

6.3.3 What to Avoid

6.4 Key Terms

7 Document/Present Findings

7.1 Understand the Basics of Communication Methodology

7.1.1 Best Practices for Reporting Findings in Different Forms

7.2 Information to Include in Your Report

7.3 Creating Visuals

7.3.1 Comparison Charts

7.3.2 Contribution Charts

7.3.3 Distribution Charts

Marketing Research Word Cloud.png

7.3.4 Trending Charts

7.3.5 lnfographics

7.4 Key Terms

8. Case Study Activity

The case study section follows the path of the engineering firm getting out of schools and into retirment homes on the hunch of their CEO. Research confirms his hunches: young familes are growing up and growing old. Surveys find the skills you have to serve the new market and a better Customer Relationship Management program to keep the business development team on the same page.

9. Glossary

10. Related Resources 

 

 

 

 

 

 

 

 

 

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Society for Marketing Professional Services - Certified Professional Services Marketer Study Guide Epiphany

Thu, Nov 23, 2017 @ 12:01 PM / by Chuck Lohre posted in Marketing, Green Building Marketing, Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing, Featured

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The last case study activity gives an excellent overview of the entire process for studying for the exam.

I've been studying for the Certified Proffessional Services Marketer exam ever since I joined SMPS in 2004. I wanted to grow the agency in the building industry and on the advice of Pete Strange, the president of Messer Construction, I joined SMPS. He said it was the best way to get into marketing into the AEC space.

I joined and was accepted quickly into the group by a great bunch of marketers for local architectural, construction and engineering companies. Served on the board under Alison Tepe Guy and Jason Ulmenstine for a few terms. It was going well, and I was learning a lot until the market crashed in 2008. Nearly 50 percent of the professionals in the industry were out of a job.

I put studying for the exam on the back burner in lew of passing the U.S. Green Building Council Leadership in Energy and Environmental Design Accredited Professional exam and getting my office awarded LEED Platinum in 2011.

This type of marketing is much more closely aligned with the type of industrial marketing Lohre & Associates has been doing my entire 40-year career; large, expensive mining, chemical, electrical and mechanical machinery. Selling the design and construction of a building is very similar.

After several failed attempts to properly study for the exam, this year the local chapter, led by Melissa Lutz of Champlin Architecture, developed a study group and incentives to pass the exam by the end of the year. It's crunch time and I'm working hard to re-read and absorb all the materials to pass the exam. The building industry has finally recovered and there are excellent opportunities to do more work in this industry.

The exam is broken up into six different domains: Marketing Research, Marketing Planning, Client & Business Development, Proposals, Promotional Activity, and Management. It was after the last page of the last book that the whole field came into focus for me. I'm going to use that case study as a jumping off point to write about the entire Markendium as SMPS calls it and hopefully hard wire the knowledge in my brain to pass the exam.

The epiphany came when I realized that all of industrial marketing comes down to people. Marketers are the ones that research other people, plan to reach other people, learn to engage with other people, make proposals for people, plan activities and manage people.

Everything about industrial marketing revolves around this simple case study that follows the path of a successful young college graduate that gets recognized and becomes a leader. That's what I want to do. Just goes to show you are never too old, 64, to learn something.

Certified-Professional-Services-Marketer-1.jpg

From the Markendium:

"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 used 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."

I like the Markendium because it makes you think about the process of marketing. There is no right or wrong answer in many cases. Only different ways to approach the problem. The following is from the study guide.

"THE CPSM EDUCATIONAL PROCESS On the CPSM examination, there is only one answer that is most correct for each test question. The CPSM candidate must identify the answer generally accepted as a best practice or expose the commonly held misconception.

How Is a Best Practice Defined? A best practice is a process, technique, or use of resources with a proven record of success that becomes a standard or benchmark to which similar practices are compared. In the context of the CPSM program, the designation best practice will be applied when:

ƒthe best practice is ethical ƒ

the practice is found in current research-based literature or scholarly writing ƒ

the practice is adapted from current business literature and is tried and true in the professional services marketing field ƒ

the practice is recognized by SMPS in its own literature and publications

How Does a Candidate Recognize a Commonly Held Misconception? A commonly held misconception is an incorrect belief or opinion that results from a lack of understanding or knowledge is shared by many people. The problem inherent in this definition is, “We don’t know what we don’t know.” How do you discern if your practices of and beliefs about professional services marketing are generally accepted as best practices or commonly held misconceptions? It is often difficult to recognize when the literature is suggesting something different than what we believe or do because our brains filter the information we take in to notice the things that affirm we are right rather than to process the things that are contrary to what we believe. Learning occurs when we recognize there is a gap in knowledge or performance.

We learn when we attempt to solve problems. We also learn when we bump up against information that is obviously contrary to our belief, particularly when our own performance is under scrutiny. We learn when we discover that respected peers think differently than we do. Mostly, we learn through self-reflection, as we analyze and synthesize information and experiences to solve a problem. This study guide integrates those key elements for professional services marketer learning: self-reflection, bumping up against gaps in knowledge or performance, and understanding how other professional services marketers think. Your job as you prepare for the CPSM exam is NOT to defend that your way is the right or best way but rather to recognize that there are always alternative ways to address a challenge and to choose the more correct option given most of the time in a group of your educated, well-read peers."

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7 Tips for the One-Person Marketing Team

Wed, Nov 22, 2017 @ 01:19 PM / by Sarah Seward posted in Green Building Marketing, Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing

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We're a big fan of TREW, here's their latest blog post by Sarah Seward, enjoy!

Before joining the TREW Crew, I spent three years working in-house as the one and only member of the marketing department. When you’re responsible for all the marketing tasks for a company, it can be overwhelming and daunting at times, so here are seven tips to make your job easier.

1. Develop an easy-to-follow marketing strategy

As the lone marketer in your company, organization is key to your success. Develop a comprehensive and easy-to-follow marketing strategy. Start by coming up with SMART goals for the year.

Do your research on marketing trends in your industry so you can decide if you want to focus your efforts on blogging, social media, email marketing, website development, trade shows, advertising, etc. As a one-person marketing team, you will need to prioritize what marketing route you take because you won’t be able to do everything on your own.

Sit down and develop a marketing strategy that details your marketing tasks for each quarter, month and week. For example, you can set a goal to create a blog post each week, a case study every month, and a new whitepaper or video every quarter. Figure out what cadence works best for you and your company when developing these tasks.

2. Create a content and social media calendar

With your content plan all mapped out for the year, create a content calendar to keep yourself organized and on–track. You can easily create this in Microsoft Excel. You can make your content calendar as detailed or simple as you want. Categories to include in your content calendar are:

  • Focused keyword
  • Content type
  • Audience Persona
  • Due Date
  • Author
  • Reviewer
  • Sales funnel position

content calendar .jpeg

Here's an example of a content calendar

With all the content you are producing, you should share all your content marketing efforts on social media. To help yourself stay organized, you can also create a social media post calendar where you can detail what posts you will share and when.

As a solo marketing department, these calendars will help lay the foundation for success and keep you organized all year.

3. Automate as much as you can

Being the only person in marketing for your organization means that you must get everything done yourself. Marketing automation is your best friend.

In this day and age, you can schedule emails, blog posts and social media posts ahead of time. This makes completing these smaller tasks quick and easy, and you won't have to worry about pausing your day to post on LinkedIn.

For social media scheduling, you have lots of good options such as Hootsuite or Buffer. HubSpot offers social media management and scheduling for those with the Basic membership and up.

Most email marketing softwares allow you to schedule your marketing emails. You can also upgrade your subscription to send automatic emails to users who complete a form on your website. This again saves you time because you don't have to personally reach out to every person who comes to your website.

You can also save time by scheduling out your blog posts in your content mangagement system. HubSpot and WordPress both give users the ability to choose when a blog post is scheduled.

4. Ask for help producing content

Your marketing department shouldn't be the only ones creating blogs. Your company is filled with people who are experts on your services and products. Reach out to these technical experts to have them write a blog post. You can have them do a simple Q&A blog post if you get resistance. For those with competitive co-workers, make it a contest by handing out prizes for those whose blog posts do the best based on website data.

You also shouldn't feel like every blog post should align with a service. Show off your company's culture by writing blog posts on after-work events, new employees, or different hobbies your co-workers have. This will show you as an authentic company that people want to do business with.

5. Attend marketing conferences to help

When you're all alone in your own department, you miss collaborating with other marketing professionals. I started attending local marketing conferences to learn from sessions how to do my job better.

I ended up finding that the best advice and tidbits came from networking during lunch or in between sessions. Questions like 'which marketing software do you use' or 'how did you get buy-in from management on a website redesign' helped inform me and lead my marketing strategy.

I would highly suggest you get out of the office for a day or two to attend a conference full of marketers struggling with the same things you are. Look for local marketing events and think about joining a marketing orgzanization, like AMA, that has local chapters. If you can get approval, go to Content Marketing Worldor INBOUND. These opportunities will help you go back to the office inspired and with new ideas.

6. Read marketing blogs and books

As much as marketing conferences helped me, so did marketing blogs and books. I started subscribing to marketing blogs because I needed to figure out our marketing strategy and stay on top of trends. Content from Yoast, Moz, HubSpot, CCO, and others helped me bring leads into our website using content marketing and SEO best practices.

As far as marketing books, I read books such as Value Proposition Design, The Long Tail, and Everybody Writes. But for me, the book that finally connected the light bulb in my head on technical marketing was Smart Marketing for Engineers. This book was written for the lone marketers at technical companies and it will give you everything you need to fill your marketing and sales funnels.

One-Person-Marketing-Team.jpg

Here's my copy of Smart Marketing for Engineers with pages falling out of it because I've read it so much. 

7. Bring in expert help

As the lone marketer for a company, I used to feel intimidated and a little threatened by marketing firms asking me if I needed any help. Now, I wish I would have reached out for help on marketing strategy or a website redesign instead of feeling like I had to do everything on my own.

You should also think about hiring a freelance technical writer or an on-call website developer to help you from time to time. Building a successful marketing department takes collaboration and support from other marketing professionals.

Are you interested in learning more about developing a technical marketing strategy? Download our eBook  to start building your 2018 marketing strategy. 

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2018 Industrial Advertising & PR Plan

Fri, Oct 27, 2017 @ 04:19 PM / by Chuck Lohre posted in Green Building Marketing, Process Equipment Marketing, Metalworking Equipment Marketing, Construction Equipment Marketing, Mining Equipment Marketing, Business to Consumer Marketing, Business to Consumer Advertising, editorial calendar, public relations planning, industrial advertising plan

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Technical Article for Feintool Public Relations

Technical article in Forging Magazine

Good Technical Articles are Often More Valuable than Ads

We hear a lot about content marketing and social media (and we believe in it), but in the industrial marketing and industrial public relations world we have always been about content marketing.

We cover the entire spectrum, from print ads to web development to social media - our public relations campaigns utilize all of the working parts to get very the best results.

The fact is that ads and PR have to work together. You have to pay for your free press. We typically have two or three key publications in each market that we schedule advertising in as well as supply them with technical articles. We then repurpose those articles into emails, webinars and videos. Rinse and repeat.

We cast a wider net for our PR placements but at least purchase listings in their Buyers' Guides and Directories. That also provides high-value web site links to our clients' home pages.

Some of our clients like print and some like online only but all pay a lot of attention to their industrial advertising & PR plan.

WIN BIG WITH TECHNICAL ARTICLES
 

Public Relations Technical Article for SKF

  

SKF Precision Technologies

"We retain Chuck on a monthly basis, under a fixed fee, to generate PR and keep Gilman in the news. The value of the PR we receive, is typically two to three times the investment we make in space advertising."

-Tom Klahorst
Vice President, Sales,
SKF Precision Technologies, a unit of SKF USA Inc.,
Grafton, Wisc. (Formerly Russell T. Gilman, Inc.)

SEEPEX INC.

"It is a pleasure to offer this recommendation for Lohre and Associates, a marketing consultant and media producer in southwestern Ohio.  seepex, Inc. has used their services several times and has always been satisfied with the results. 

They were used to adapt and place case history articles in trade publications and produce several high-quality graphic designs for use in a number of media, including print, web sites and electronic promotions.

Their experience with our industrial marketing publications, the technical language of the industry and personal relationships with the editors and publishers assisted us in receiving excellent placements and results.  We are sure that you will be satisfied with the results that they produce.

Best regards,

signature, Michael L. Dillon, President of Seepex, Inc. - Cincinnati Public Relations Client

- Michael L. Dillon
President, seepex inc.

 Sales Lead Generation Guide by Cincinnati Marketing Agency Lohre & Associates

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