Track #: Business Track 101 Track Title: Using the Internet to Market your Business Presenter: Jim Dodez VP Marketing & Strategic Planning Company: KVH Industries, Inc. Contact info: jdodez@kvh.com Introduction • KVH Industries (1986-present) – Vice President – Marketing & Strategic Planning • • In-house marketing agency In-house marketing agency – 12 people – Graphic artists, web designers, writers, digital marketing specialists Advertising • – Print, radio, cable TV, billboards • Trade Shows – 50 per year in leisure and commercial marine and 50 per year in leisure and commercial marine and government markets. • Internet, Social Media and Digital Marketing KVH Industries, Inc. 1
KVH Internet Marketing Tools www.kvh.com www.tracphone.com Channel partner portals mini-web sites KVH on Facebook www.kvhmobileworld.com KVH on YouTube KVH on LinkedIn KVH on Twitter Webinars Newsletters/Email blasts Banner Ads Overview of what we’ll cover • Web 2.0, and why it impacts your business A simple marketing plan for increasing your sales • M i Marine electronics customer overview l t i t i • • Web sites design considerations • Search engines and search engine optimization (SEO) • Big benefits of blogging • Leading social media sites – YouTube – LinkedIn LinkedIn – Facebook – Twitter Measuring your results with metrics that matter. • KVH Industries, Inc. 2
The new Internet and why it matters • Web 1.0 • Web 2.0 – Web sites with static content – Easy to create web content – Hyperlinks to related sites – Social Networking and Computing – Dot-com boom and the “fools gold” of D t b d th “f l ld” f – Open web-based Communities O b b d C iti clever domain names – Clean, simple, straightforward design • Web 1.0 was about: • Web 2.0 is about: – Individual users – Collaboration – Reading – Reading & Writing (posts and blogs) – Taxonomy (structured by creator) – Folksonomy (organized by users) – Owning content – Sharing content – Consuming Consuming – Producing P d i – Home page design – Personalization – You find the news – News finds you How the Internet Impacts Offline Sales Share by Segment, 2012 Category Share Online sale 7.2% Web-influenced offline sales 38.2% Web-influenced sales 45.4% Non web-influenced offline sales 54.6% Source: Forrester Research, as cited by Business Insider, June 12, 2012 KVH Industries, Inc. 3
The business implications of Web 2.0 Traditional purchase decision journey CONTACT SIGN UP RECEIVE A LOOK AT A VISIT A SEE AN AD CALL 1-800 CUSTOMER FOR MAILER CATALOG STORE SERVICE LOYALTY CARD TRADITIONAL BEHAVIORS Linear -- Predictable -- Brand controlled Source: The Open Brand, Digital Trends for 2011 The business implications of Web 2.0 The NEW purchase decision journey PERUSE FAV USE USE CHECK CHECK BLOGGERS’ BLOGGERS’ COMPARISON CRAIGS- POSTS LIST FOR TOOLS ASK RESALE SEARCH QUESTION OPTIONS FOR A VIA LIVE PRODUCT WATCH CHAT YOUTUBE SHOP FROM SIGN UP VIDEO FRIENDS’ FOR EMAIL LEMONADE SIGN UP STAND CONTACT BROWSE RECEIVE A LOOK AT A VISIT A SEE AN AD CALL 1-800 CUSTOMER FOR WEB SITE MAILER CATALOG STORE SERVICE LOYALTY POST CARD READ AND REVIEW, RATE UPLOAD REVIEW PIC LINK FROM BROWSE VISIT A VISIT A FRIEND’S FRIEND’S TAG STORE FACEBOOK CLOUDS LINK FROM FRIEND’S REVIEW TRACK FACEBOOK FAQS PURCHASE TRADITIONAL BEHAVIORS CREATE ECOMMERCE BEHAVIORS TAGS SOCIAL WEB BEHAVIORS Non-Linear -- MultiChannel – Digital-First Source: The Open Brand, Digital Trends for 2011 KVH Industries, Inc. 4
Web 2.0 – Social Media Where should you start? • Which sites and services are popular with your customers? Which types of • content are easy for you to produce? • Where can you get a tangible benefit to tangible benefit to your business? A simple marketing strategy for dealers • Identify your target audience • Determine why they should select your business over your competitors y • Select communications channels for reaching your audience – Traditional advertising, trade shows, direct mail, PR, direct sales calls – Web sites, banner ads, email, blog posts, social media sites Engage prospective customers in conversations • Lead them through the sales cycle and make the first • sale l Continue the conversation to assure satisfaction, • learn about new problems and opportunities Make repeated sales to existing customers • KVH Industries, Inc. 5
Identifying Potential Customers Who Buys Marine Electronics? • Boat owners, usually of higher value vessels used Boat owners, usually of higher value vessels used offshore • Average owner > 30’ inboard cruiser – 96% male – 57 years old – Attended or graduated from college – Professional/managerial (often retired) – Income average $300K net worth $4 5 million Income average $300K, net worth $4.5 million – Boating experience average 35 years – Boat cost average $450K (diesel inboard cruiser) Affluent, successful, well educated professional who is • very experienced in boating Source: Power & Motoryacht Reader Survey, 2008 Retail Sales of Powerboat (non PWC) 600,000 1988 523,900 500,000 2000 2000 350,500 400,000 2011=142,830 2012e =150,400 2013e=156,115 300,000 2014e=153,617 ---------------------------------------------- --------------------------- 200,000 1992 - 2004 1969 -1991 1969 1991 Average 311 000 Average 311,000 Average 400,000 100,000 - Source: NMMA, 2012 KVH Industries, Inc. 6
New to Pre-owned Boat Unit Sales 1,800,000 1 600 000 1,600,000 463,600 465,000 403,800 407,300 1,400,000 393,200 489,400 461,550 417,400 407,300 1,200,000 279,800 396,700 365,800 188,230 207,000 1,000,000 190,330 800,000 1,056,600 1,056,600 1,067,300 1,006,400 1,004,200 929,900 886,800 600,000 1,056,600 1,056,600 1,056,600 1,032,100 1,006,200 961,800 953,200 909,900 400 000 400,000 200,000 - 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Pre-owned New Source: NMMA, 2012 New to Pre-owned Boat Unit Sales 100% 90% 80% 70% 60% 50% 40% 30% 20% 20% 10% 0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Pre-owned New Source: NMMA, 2012 KVH Industries, Inc. 7
Marine Electronics Customer Where do they buy marine electronics? • – Retail stores . . . . . 76% – Catalogs . . . . . . . . 24% – Internet . . . . . . . . . 26% I t t 26% Source: Power & Motoryacht Reader Survey, 2008 Problems Customers try to Solve • Consider where the customers might look to get answers! • Where can I learn about categories of products, what they can do for me? d f ? • How should I choose one brand over another? • Where can I find reputable companies that sell and install products? • Who can look at the electronics on the used boat I just bought, tell me if they need to be serviced or replaced, or provide me with manuals and teach me how to use them? provide me with manuals and teach me how to use them? • Where can I find companies to fix or replace broken electronics on my boat? • What do other customers think about different manufacturers products, dealer's services, etc.? KVH Industries, Inc. 8
Value of NMEA Dealers to Customers Dealers add value by assisting customers with: • – Selecting the appropriate product for their boat, budget, and applications – Selling and delivering the product – Professionally installing the product P f i ll i t lli th d t – Educating the customer in the use of the product – Providing after sale warranty and service support Manufacturers of sophisticated technical products rely • on dealers to make customers happy. Manufacturers spend $$ millions to generate leads for • marine electronics products and services p – Leading suppliers forward sales leads to local dealers – Visit each of your supplier’s web sites and make sure you info is updated! • How well do your marketing efforts present the premium service you deliver? How KVH links customers to dealers KVH Industries, Inc. 9
How KVH links customers to dealers How KVH links customers to dealers KVH Industries, Inc. 10
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