Marketing Strategy for SME

Marketing Strategy for SME the PNG way Sony McWilliams /Presenter & Facilitator Small Business Management CPA Conference Lae – 19th August 2016 Lae In...
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Marketing Strategy for SME the PNG way Sony McWilliams /Presenter & Facilitator Small Business Management CPA Conference Lae – 19th August 2016 Lae International Hotel Conference

Acknowledgements • Thank you CPA National Office, President, Executives and Team • R.t Honorable Minister: Richard Maru for a great presentation • My fellow speakers on this 2 days of Conferencing – Well done • Distinguish guests, • CPA members – You are the reason for the conference • Our core Sponsors – you make it happen • Ladies and Gentlemen • It gives great pleasure to speak on the closing of our 2016 conference • It has been a journey with CPA to have me over 5 years now Thank you

Session Topics • • • • • • • • • • •

Objectives Vision 2050 What is Marketing Strategy and Why? Goal Setting leads to Strategic Planning Understand the market Mix Marketing and Promotion Quality Customer Service is SME strategic marketing Current Affairs SME real cases GAPs to close for better SME growth Attitudes needs to Change Summary

Objective • Understand SME strategic Marketing in the PNG way • Identify the need for competency in managing SME effectively • Value Quality Customer service as key driver of Strategic marketing • Value employee competency will deliver effective points of marketing • Understand Strategic Marketing for SME in PNG is - Word by Mouth • Be aware of Incompetency Gaps • Identify opportunities for CPA accountants in SME accounting services • Attitude is Everything in strategic marketing and SME development.

2050 Vision • PNG to be Smart, Fair, Wise, Healthy and Happy Nation by 2050 • To grow SME sector • Strategic Priorities for a strong Vibrant SME

What is Marketing Strategy for SME? • Marketing – The promotion, distribution and selling of a product or service (including market research and advertising) • Strategy – An ACTION PLAN intended to accomplish a specific Goal • SME – Small Medium Enterprise e.g Shop, Timber sales or Printing • Marketing + Strategy = The promotion, distribution and the selling of a product or service based on a Plan of Action to Achieve a GOAL • Do SME know how to set GOALs and develop action plans? Consider

Why have a Marketing strategy? Because it is the road to success • The strategy (action plan) marketing (promotion, distribution of products/services) will deliver Goals / Dreams • SME operators needs to learn the ART (Skill) of S.M.A.R.T planning • Why Plan? Lack of PLAN is Planning to fail - no wonder 80% fail in 12 months. So Plan SMART is vital • • • • •

SPECIFIC MEASURABLE ACHIEVABLE RELEVANT/ REALISTIC TIMED

Goal Setting leads to Strategic Planning Cherish your dreams, as they are the children of your soul, the blueprints of your ultimate achievements. Napoleon Hill

• Good management planning most often begins with setting goals. • These goals are recorded and broken down into projects, action plans (strategies), or simple task lists. • Activities are then rated based on Priorities and Deadlines set. • This process results in a PLAN with task list or calendar of activities. • This entire process is supported by a skill set that should include personal motivation, delegation skills, organization tools, and crisis management (What if?)

SME must understand their Market Mix Most SME come up with great ideas but fail to test the ideas on paper before investing – 4Ps • Place consider the population/ customer traffic at the location. Do feasibility study prior to commencing. Is location suitable for trading? It’s Better to spend a K100 to test the idea on paper than to spend K10,000 and fail • Products is there a demand for the product or service type? • Pricing proper pricing of products /services against competitors on the market is important. • Promotions what are the best mode of promotions for the kind of industry and for the type of products /services. What consumer/customer targets

Marketing and Promotion The Plan will determine suitable marketing needed for particular business type • We have the following suggestions to correlate and decide: • • • • • • •

E-marketing, Internet, Web Television Commercials Newspaper ads, Local notice boards Quality Customer Service - a satisfied customer will market you In person -Word by mouth, Face to face (Most effective in PNG) Call Door to Door, Canvasing, Others Wantoks and 2toks, Public campaigns, product sampling

Customers Service SME strategic marketing Quality Customer Service is the way to go • A customer is the most important person ever to the business… in person, on telephone or by email. • A customer is not dependent on us… we are dependent on them. • A customer is not an interruption of our work… they are the PURPOSE if it. We are not doing them a favor by serving them… they are doing us a favor by giving us the opportunity to do so. • A customer is not someone to argue or match wits (IQs) with. Nobody ever won an argument with a Customer. • A Customer is a person who brings us their wants (& needs). It is our job to handle them profitable for them and ourselves.”

Quality Customer Service is SME Strategic Marketing Engage competent employees to provide quality customer service will unleash effective Points of; Interactions (good product knowledge, communication standards) Engagement (Connect deliver and retain customers) Marketing (Develop opportunities for growth and sell the business) Profits (Customer continuity – increase sales volume to bigger profits) • Quality Customer service is number in all facets of SME development • Word of mouth promotion – Hauslain tok is PNGs best marketing strategy • A satisfied customer will market the product/ service you deliver

Current Affairs on SME Real cases • A tree Cutting Cleaning Services – IPA registration took months, Bank account require TIN delayed, IRC took months – he lost Jobs • Tom applied for Bank O.D K30,000 with K50,000 security on IBD was declined. Bank Officer never set down to discuss/interview him took a week. • Tom applies for Telikom Land line follow ups (with technicians) 2.5 years now nothing as yet • A Timber Supplier (SME) delivers soft wood instead of Hard word to Moris a Buyer. Upon unloading few broke but supplier careless • The list goes on

GAPS to close for better SME Growth • Government must drive change of mind set of its agencies to value SME and buy in to SME idea – Improve Customer Service, IRC, IPA. • Key service providers improve customer service, Banks, Telikom etc • SME needs help in accounting services, Planning, training and SME integrated networking • INCOMPETENCY GAPs in all players needs to be addressed

Attitudes must change for SME to Grow In order for SME to Grow all stake holders Attitude needs to change. Is it true to say “ You cant teach an old dog new tricks”? Guess he knows too much • Politics is Good but Too much is Bad • The eagle has 2 options after 40 years he has decides to; a) To die at 40 b) To go through a 150 days change

Summary • • • • • • • • •

SME Operators needs to Plan and Needs the skill Quality Customer service will drive Strategic marketing Competent team will deliver effective points of marketing Strategic Marketing for SME in PNG is -Word by mouth Address Incompetency Gaps at Governmental Agencies level, Service providers SME Operators need basic management training Marketing will be effective when SME integrate their product/services CAP accountants SME is an opportunity for accounting services Attitude is Everything in strategic marketing.

1) Our Training delivered to-date Customer Service Effective Communication (In-person, Telephone, Emails) Employee Appraisals & Employee Discipline First Aid basics HR Management Forklift Operator (Heavy Equipment) Leadership Managing Effectively Safety Awareness for team leaders Sales Negotiations Skills and Negotiation for Value Supervisory Skills Team Building Time Management…. Plus a lot more. Talk to us today:

2) Our HR Consultancy Service • Organizational HR Planning & Development • HR Policies Development (good for SME) • Recruitment & Placements outsourcing services • Compensation & Benefits administration and outsourcing services • Pre-employment preparatory coaching • Short and Long Term Labor hires • Operational HR advisory services

Contact us • Small Business Management Training (Maria Story) • Small Business Management – 2017 • Prerequisite is must own and run a small business

• Call us on 76626466 or 72201007 • Email: [email protected]

Thank you for Listening