Ken Burke, CEO of Micro Casting, introduces a special guest for his lesson, Angelo Ponzi, an expert in marketing. Angelo provides insights into her role and approach as a fractional chief marketing officer. Rather than focusing on marketing tactics, Angelo places emphasis on the strategic side of marketing. She also highlights the importance of a holistic approach to marketing, where she collaborates with departments like manufacturing, sales, and operations. This approach is based on her belief that every action in marketing impacts every member of the organization, making marketing a "team sport."



Both Ken and Angelo stress the significance of a sound marketing strategy as the primary growth engine for businesses. A point of discussion is how some businesses excel in areas such as technology or product evolution but falter when it comes to introducing their products to the market due to weak marketing strategies. Angelo cites a statistic that 92% of strategies fail due to poor implementation. She emphasizes the importance of collaboration, especially with sales teams, to ensure the effective execution of marketing strategies. The conversation aims to equip viewers with insights and strategies to better implement marketing plans within their own organizations.

The primary focus of the lesson revolves around the significance of research in crafting effective marketing and business strategies. Emphasizing that while many might not find research exciting, it serves as the foundation for understanding customers, the marketplace, and competitors. The speaker explains that research isn't always about conducting extensive and costly studies. Instead, a more practical approach involves deconstructing the competition to look for opportunities in messaging, positioning, and identifying weaknesses in products.



Another crucial aspect of research is understanding the perception of a company's brand in the marketplace. Often, there's a discrepancy between how a company views itself and how it's seen by its customers. By tapping into customer and competitor insights and looking internally, companies can ensure alignment within their teams and strategies.



Furthermore, understanding market dynamics is critical. Market shifts and dynamics can change the relevance of certain messages. For instance, emphasizing a US-based manufacturing advantage might have been a strategic advantage in the past, but as market dynamics change, this message might lose its potency. Hence, it's essential to continually monitor the market and adapt accordingly.



The lesson highlights the need for businesses to stay updated with market events, such as interest rate fluctuations, which might affect operational decisions.



To provide clarity for the audience, an outline of the upcoming topics is presented, including understanding the competition, knowing your target customer, capturing the market, positioning, crafting the right message, and finally, creating a growth plan.

The core lesson revolves around the importance of understanding your competition in the market and the methods to effectively do so.



1. **Importance of Research and Understanding Competition:** Everything in business begins with research. Understanding the competition is vital because they are the "other team" we're playing against in the business field. Being aware of competitors' marketing strategies, messaging, positioning, products, and services can provide insights into their strengths and weaknesses.



2. **Differentiating from the Competition:** The key to standing out in the market is differentiation. For instance, if a company can highlight how their product is more sustainable than competitors', it sets them apart. A real-world example cited was about a company produci+D16ng biodegradable straws that decompose faster than the competitor's products, thus offering a unique selling proposition.



3. **Research Tools and Techniques:** While visiting competitors' websites is a basic step, there are numerous other tools available to garner insights. Tools like SEO analysis platforms (e.g., SEMrush or Ubersuggest) can help identify organic traffic trends, keywords, and much more. Additionally, platforms like Craft.co can be used to discover competitors and gather profile information about them.



4. **Tactics vs. Strategy:** Many businesses rush to implement marketing tactics without laying down a solid strategic foundation. However, the consensus is that by focusing on strategy first, the right tactics will naturally emerge.



In conclusion, the lesson underscores the critical role of strategic research in understanding competition, enabling businesses to carve a unique niche and messaging in a crowded marketplace.

**Importance of Customer Understanding:**

The conversation begins with the emphasis on the necessity of truly understanding one's customer rather than relying solely on personas. While personas can help in crafting a narrative around a target audience, they're a fictitious representation. Real understanding comes from direct interaction, suggesting that instead of making assumptions, companies should actively engage in conversations with their customers.



**Consistent and Bias-Free Interaction:**

The speaker advocates for consistent interactions with customers, emphasizing the importance of removing any potential bias. Instead of dividing interview duties among different members of a team, it's better for one individual to handle all the interactions. This ensures that feedback isn’t influenced by different interview styles and makes comparing responses easier.



**Value of Feedback:**

Customer feedback can reveal surprising insights. For instance, even if a company assumes its customers are pleased, direct conversations might reveal areas of dissatisfaction. There's also the likelihood that many customers might not be aware of all the products and services a company offers. Such feedback can open avenues for increased sales and ensure better customer retention.



**Aligning with Market Needs:**

When launching new products or services, understanding what customers want is vital. Rather than taking a "Field of Dreams" approach (build it, and they will come), companies should be proactive. This means focusing on developing products and services based on market demand instead of what the company thinks the market wants.



**Market Focus & Opportunities:**

Understanding the overall market, including the total available market (TAM) and the serviceable available market (SAM), is essential. Once this is clear, a company can determine potential opportunities, including entering new market segments or expanding existing ones. Sometimes it might be more feasible to acquire another business rather than building from scratch.



**Adapting to Market Dynamics:**

Lastly, the key takeaway is that businesses must adapt to the market rather than expecting the market to adapt to them. This requires a willingness to potentially restructure products or services based on feedback and the current market landscape. Research, as emphasized, plays a pivotal role in this adaptation, making it a cornerstone for any business strategy.

1. **Market Position**: Understand where you stand in the market. If you're newer in the market, awareness is key. It's important to know your competitors and how many there are.

2. **Market Research**: Conducting research is fundamental. For instance, knowing what clients understand and prefer can give insights into what product or approach might work best. In the given example, there's a distinction between agave straws and PHA straws. While agave might be more recognizable, the PHA straws might be more sustainable.



3. **Market Strategy**: Mapping out areas where your product or service is in demand can guide your approach. The case study mentioned mapping out U.S. states with plastic bans and correlating it with site traffic.



4. **Barriers and Opportunities**: Be ready to understand and navigate the regulatory landscape. In places like California, multiple layers of bans (state, county, and city) can make entry difficult. But these areas can also be the biggest markets. Engaging with policymakers, lobbyists, and clients can help modify restrictive regulations.



5. **Consistency and Persistence**: One of the most emphasized points was the need for consistency in messaging and marketing efforts. Companies often change their outreach quickly, thinking their audience is tired of it. But the audience hasn't seen it as much as the company thinks. Hence, consistency in the message and persistence in outreach are critical.



6. **Understanding Customer Behavior**: Knowing how customers consume information is vital. For instance, younger audiences might prefer video content, while older ones might lean towards white papers. Choosing the right channel for communication is equally crucial. Not all platforms are suitable for all businesses, and the selection should be based on where your target audience spends their time.



In essence, capturing the market isn't about finding a silver bullet. It's about a combination of research, strategy, persistence, and understanding the consumer. The two pillars emphasized for capturing the market effectively are **focus** and **consistency**.

In the discussion about positioning a business, the core theme revolved around creating a unique proposition and perception that resonates with your target audience. Here are the key takeaways:



1. **Unique Proposition**: Positioning is about the distinct image or idea you want customers to recall when they think about your business. It's the singular essence that sets you apart from competitors.



2. **Memory and Recall**: While the psychological process of memory retention (short-term and long-term) is complex, the goal of positioning is to plant a seed in the customer's mind. Repetition of a consistent message or "elevator pitch" can ensure that over time, this message sticks.



3. **Customer Perception**: When positioning your business, it's essential to see through the customer's lens. How you perceive your business and how your customers perceive it might differ. Aligning these perceptions is critical. If there's a disconnect, it needs addressing.



4. **Research & Competitive Analysis**: One of the fundamental tools in determining your position is through comprehensive research, especially regarding the competition. A positioning map can help identify gaps or niches in the market that might be unaddressed. Looking for these gaps can open opportunities for unique messaging or approach. The Purina dog chow example highlights the power of competitive analysis, where using humor became a unique positioning strategy because no competitor was using it.



5. **Consistency and Repetition**: To ensure effective positioning, it's crucial to repeat and reinforce your message consistently. Over time, consistent messaging ensures that the target audience associates specific attributes or feelings with your brand or business.



In conclusion, positioning your business effectively hinges on understanding customer perception, identifying unique gaps or niches, and consistent messaging driven by thorough research.

Crafting the right message for your target audience is paramount. The message's content and delivery must be tailored according to the medium, as conveying a message on platforms like Twitter requires a different approach than a 30-second television commercial. The channels you choose determine the depth and detail of your message, but regardless of the medium, there needs to be a uniformity and consistency in your messaging.



Diving into tactics, it's essential to ensure that the overarching brand message can be distilled into sub-messages tailored for specific channels. Whether it's LinkedIn, Twitter, television, magazine advertising, or a trade show, all communication forms should resonate the same brand essence. Otherwise, there's a risk of sending mixed signals and causing confusion.



Moreover, internal marketing is often overlooked. Employees, regardless of their number, are brand ambassadors. It's crucial to ensure that everyone in the company understands and can convey the brand's core message consistently. As a test, asking various team members to describe the company in a 30-second elevator pitch often yields diverse answers. A consistent response across the board indicates strong internal communication and brand understanding.



In your journey to define a brand's unique positioning, differentiation is essential. When you find that many competitors claim to offer the same services or products, it becomes even more crucial to identify gaps and opportunities that will help set your brand apart. Engaging with competitors, understanding their strengths and weaknesses, and finding out where you can work together or stand out can be invaluable in shaping your own brand's positioning.



In conclusion, crafting the right message is a combination of understanding the medium, ensuring consistent messaging across channels, engaging internally, and differentiating in a crowded marketplace.

When it comes to constructing a growth plan for your business, a holistic understanding of both past performance and future aspirations is crucial.



1. **Analyzing Past Performance:** Before setting future goals, evaluate your company's historical data. Understand your average growth rate, where your growth comes from, and analyze win-loss scenarios. For instance, if a company aims for a 37% growth but has only achieved an average of 6% in the past three years, it's important to reassess and set realistic targets.



2. **Understanding Sales Metrics:** The process of selling and winning customers varies. Some clients may close within a short period, while others take longer. Recognize these patterns to better strategize. For instance, if there's a higher success rate in closing a client within 100 days, focus on expediting that process.



3. **Managing Internal Factors:** Sometimes, internal processes can be a barrier. A long legal procedure, for example, can delay or even cost a deal. By recognizing these hurdles, companies can adapt and find solutions to prevent such losses.



4. **Leveraging Data for Predictions:** Utilizing a CRM system or similar tools can help in understanding the number of calls or interactions required to convert a potential lead. This data allows businesses to set benchmarks and monitor their performance.



5. **Balancing Growth and Capability:** While achieving high sales is always a goal, it's essential to ensure that the company's infrastructure can support the growth. For instance, an unexpected million-dollar order might sound thrilling, but if the company lacks the manufacturing capability to fulfill it, it could lead to reputation and logistical issues.



6. **Ensuring Organizational Alignment:** All departments in a company need to be in sync. A growth plan will only be successful if marketing, sales, and operational strategies align. Not every business deal is beneficial, and understanding the entire organization's capacity is paramount.



To effectively build and execute a growth plan, one must consider past data, sales metrics, internal procedures, and the overall capacity of the organization. Ensuring alignment throughout the company and leveraging tools to monitor and predict outcomes can aid in achieving balanced growth.