Marketing is one of the elements of effective investment management. With the help of marketing, issues of planning, management, basic policy, product promotion to consumers, its sale, etc. are solved. With regard to investments, marketing tasks are somewhat specific.
Marketing research is carried out throughout the entire period of the project - at the pre-investment, investment and operational stages. A marketing plan is being developed, the purpose of which is to explain how the proposed business in a particular enterprise (under construction or developing) will affect the market and respond to the emerging situation when organizing the sale of products.
The relevance of the development of the sphere of circulation is determined by the need to develop additional material flows, taking into account trade and intermediary structures. The solution of this problem is possible only with the effective use of the investment potential of the sectors of the sphere of circulation.
The construction and expansion of enterprises in the sphere of circulation are carried out at the expense of internal investment resources and less often at the expense of bank loans. To a large extent, the renewal of funds can be carried out through leasing operations.
Many enterprises in the sphere of circulation gained independence with the transition to private ownership. On the one hand, this made it possible to gain a foothold in the commodity market, to become monopolists in the sale certain types products. On the other hand, many trade intermediary organizations could not stand the competition and were liquidated or merged with other similar organizations.
In order to survive in the conditions market economy individual trade intermediary organizations have diversified their activities, offering the consumer various kinds of services. This allowed the creation of independent consumer service firms.
However, the formation and development of trade intermediary organizations require large financial investments.
Large trading independent firms are beginning to look for profitable investment of their funds in the development and production of new competitive products. The decline in production in industries and, accordingly, the decrease in the volume of activity of trade and intermediary structures do not allow the latter to find the necessary funds for their development. Therefore, investments of limited funds are mainly aimed at updating the worn-out fleet of machinery and equipment, which, of course, cannot solve the problem of their radical modernization on a new technical basis.
Wholesale intermediary organizations can attract their own funds, borrowed funds to finance projects for the development of the material and technical base, or use a special form of financing - leasing (Fig. 5.24).
Rice. 5.24. Sources of funding for trade intermediaries
organizations
When planning the volume of investments for the development of the material and technical base, trade intermediary organizations must evaluate the guarantee of return on investment within a certain period.
For a correct assessment of capital investment plans, each enterprise must have reliable information about the actual state of fixed assets; on the basis of this information, comparisons are made of existing fixed assets with the need for capital investments, which is an important condition for accounting for expected capital investments in fixed assets.
At the planning stages, the problem of correct accounting for funds for capital construction often arises. Thus, the cost of current costs for the repair of equipment should be attributed to production costs, and the cost of repairs aimed at extending the life of fixed assets (overhaul) - to the fixed assets of the enterprise. Therefore, it is necessary to distinguish between capital investments and current production costs in fixed assets.
Capital investments include:
additional investments that increase the capacity of trade intermediary enterprises;
renewal or replacement of equipment with a new one of the same or greater capacity;
improvement or modernization of equipment leading to the replacement or change of fixed assets.
Current production costs are:
maintenance and current repair of equipment;
depreciation deductions;
taxes on fixed assets.
The development of a capital investment plan requires a systematic assessment of the condition of fixed assets.

Practice confirms that, due to an acute shortage of funds for capital construction, trade intermediary organizations replace equipment only after it has completely worn out. However, conducting marketing research to study equipment in the market of means of production, the release of new, more productive machines and equipment can predetermine the replacement of equipment, even if it has not served the prescribed depreciation period.
The decision to purchase new equipment depends on a number of circumstances, and above all on the availability of financial resources. However, only after assessing the financial condition of the enterprise, the amount of profit received, the head of the enterprise can decide to replace or modernize the equipment. You should also know how similar equipment works in other trade and intermediary organizations, keep a complete record of the operation of the equipment, its load, the state of fixed assets, and their wear and tear. In this case, the right decisions are made when developing capital investment plans.
The replacement of equipment should be preceded by a detailed analysis of the condition of fixed assets, even if they function normally within the established depreciation periods. The cost of replacing equipment must be balanced against the cost of existing equipment.
It is known that worn-out equipment requires frequent repairs and considerable funds to maintain it in working order. Therefore, the replacement of some types of equipment may be more rational than spending money on its maintenance and repair.
One of the conditions for the acquisition of new equipment is its insufficient quantity with an increase in the volume of sales of products and the provision of various types of production services. At the same time, trading intermediary organizations operating in a competitive environment, replacing equipment, achieve, in addition to increasing labor productivity and sales volumes, a noticeable reduction in the level of distribution costs.
In order to avoid unnecessary significant costs for the replacement of equipment, the enterprise must conduct marketing calculations for forecast periods. For this purpose it is necessary:
periodically analyze the condition of the equipment, identifying the one to be replaced;
have information about new equipment that has appeared on the market, with the help of a marketing service;
keep a complete record of the costs of repair and maintenance of equipment.
In order to control the expenditures of capital construction in trade and intermediary organizations, a plan of capital investments is drawn up for the coming year and for a more distant future. Capital investment plans are evaluated against the following cost elements: initial cost of equipment (including delivery and installation); the cost at which it can be sold at the end of its service life; payment of interest on a loan; the cost of maintaining and repairing equipment; cost of electricity, working area; taxes, insurance; the cost of the main and additional labor.
In addition to cost considerations, capital investment plans should also take into account factors such as comparing options in terms of product quality and the availability of sufficient funds to implement the best capital investment option. Before allocating funds for the implementation of one or another option for capital investments, the financial department studies in detail, in particular, the possibility of renting the necessary equipment (leasing).
The rental price usually depends on the degree of use of the equipment: it decreases as the rental period increases.
The return on capital investment in new types of equipment depends on the annual cost savings resulting from the use of new equipment. The payback period is determined by comparing the amount of capital investment with annual cost savings: the total amount of capital investment is divided by the amount of annual savings. For example, if the annual savings is 5 thousand rubles, and the one-time investment in equipment is 10 thousand rubles, then the payback period will be equal to two years.

In April 2012, I published an article titled "Turning marketing from a cost into an investment."

We read it below:

Also in late XIX century, a successful English grocer and soap factory owner, William Lever, asked himself a sacramental question: “Half the money that goes on advertising is wasted. But how do you know which half? Unfortunately, most of the Russian businesses began to ask this question seriously only after the recent financial and economic crisis. And so many still, without finding the answer, continue to remain in the dark about the effectiveness of the various types of advertising that they use. How to fix this situation, read on.

The discount stationery store "Karandash" was opened on credit money and was located on the outskirts of Syktyvkar. Thanks to massive advertising, he managed to make good money on the seasonal demand for stationery in August-September. But then the season ended, and the loan taken for the purchase and renovation of the premises and the salaries of employees had to continue to be paid.

The owner, Fedor Ovchinnikov, decided to attract legal entities to the store. They buy stationery on an ongoing basis, and due to this, the flow of money can be ensured quite “smooth”. But how to attract them if the store is located on the outskirts, and it is difficult to get office clerks to come there, especially when competitors even offer free delivery?

Then he launched an advertisement, which, among other things, advertised a pack of paper "Snowflake" for 99 rubles. This despite the fact that the purchase price was 110. The result is a large influx of buyers and the capture of 20% of the stationery market in the city. Loans could be repaid.

How? How did the store not operate at a loss? It would seem absurd to sell goods below cost (we do not take into account the sale of goods when closing a business). But if you understand the mechanics and know the numbers of your business, then this can help you bite off a piece of the market pie from competitors. It's simple: customers who came for paper along the way bought a bunch of other stationery needed by the company, which ensured the profit of the store. To implement such strategies in your business, you need to know some indicators.

Important odds

It is traditionally believed that in order to evaluate the effectiveness of advertising (and any other) costs, it is necessary to calculate the return on investment (ROI, return on investment). This ratio shows how much money was earned for each ruble invested in the project, and is calculated as the ratio of the profit received from the project to the sum of all costs for it. If ROI >1, then the investment paid off and even made a profit. If ROI<1, то бизнес понёс убытки.

The return on investment from your marketing investments can certainly and should be calculated (and for this you need to know the exact amount of return - which for many is still an unsolved problem). However, in today's increasingly competitive environment, this may not be enough. To complete the picture, any manager and marketer needs to know two more ratios in his business.

1. Selling price (Salecost,SC).

Shows how much money the company costs to attract a person who makes the first purchase. An important nuance - ideally, this coefficient should be calculated on every customer acquisition channel. In this case, it will be possible to know the effectiveness of each of them, and make informed decisions about the need to continue to use it. However, for starters, you can calculate the average figure. Approximately, it can be obtained by dividing your marketing budget for a month by the number of customers attracted over the same period.

1. Customer lifetime value (Totalcustomervalue,TCV).

It shows how much profit the client leaves in the company on average for the entire time of working with it (in some cases, they are calculated simply for a period of a year). Here it is already necessary to raise sales statistics and spend a little more time on calculations, but it's worth it. At the same time, if the top and bottom 10% of customers bring disproportionately more or less profit than the average, then it is better not to take them into account so as not to distort the results.

Knowing these two ratios, you can translate your marketing from guesswork into precise mathematical calculation. Instead of budget approach , which everyone uses - "How much money can we afford to spend on advertising next month (and where, after all, to give it so that it brings not one and a half cripples, but a significant number of customers)?" - you will use investment approach – “How much money am I willing to spend on attracting a new client in order to earn TCV on it within a year?”

In a typical small and medium business company, some part of the profits is invested in advertising - usually 10-20% - the so-called advertising budget. But, if suddenly sales have fallen, then most begin to cut advertising, and, consequently, reduce the flow of new customers (driving themselves into a vicious circle). But knowing the above two coefficients, you will never do that. You will be ready to spend 2-3 times more on advertising, because you will see which pays off and which does not. Why kill the goose that lays the golden eggs?

Dominance strategy over competitors

What else gives the knowledge of these numbers? If you know the lifetime value of a customer, you can calculate how much money you can and are willing to spend on acquiring one new one. At the same time, on the first sale, you can generally work to zero, without profit. Or even in the negative (as in the example with "Snowflake" above). Because, having made the first sale, you get a client who, according to statistics (or rather, as a result of your active actions, and not when he gets into his head himself) will make a purchase from you more than once, “beat off” all the expenses incurred earlier and bring desired profit.

What's more, by working on sales systems that increase the amount of money a customer leaves with you for their time with you, you can also increase the amount spent on customer acquisition. Those. you will be able to use more expensive advertising methods that your competitors simply cannot afford, otherwise they will go bankrupt. Without seeing the mechanics of what happens to a customer within your business, they will wonder how

• Are you selling something for less than cost?
• advertising it in an expensive publication or in an expensive way,
• which they cannot afford
• and still live better than them.

Those who blindly start copying you will simply leave their business without profit. I summarize what gives the knowledge of these coefficients:

1. A certain degree of predictability in sales.
2. Ability to spend more on advertising than your competitors can afford.
3. Opportunity to find more interesting and profitable clients through advertising in expensive publications that do not advertise your competitors (they simply do not have enough money for this) or using alternative methods to attract customers.
4. Building protective barriers for beginners and startups, which often try to copy the tip of the iceberg and will not be able to generate enough profit to be a serious competitor.
5. Tracking the effectiveness of advertising.
6. Refusal of non-working advertising methods.
7. Ability to use "free" advertising by modelself-liquidationlead. Its essence is that the locomotive product is mainly advertised, and all the profit from the sale of this product is re-launched into its own advertising. The main money is earned on repeated sales of the client base accumulated in this way.

However, you should not make a typical mistake: what do most businesses do when they see that, for example, advertising in the magazine Selsky Podvodnik costs them 30,000 rubles a month and brings in 100 sales, while advertising in the newspaper Universal Dawns costs at 16,000 rubles and brings 145 sales?

A significant proportion will think, “Why pay for more expensive advertising?” and discard the module in the log. But this is a mistake! If advertising in a magazine pays off, why give it up? After all, it brings customers who would not have learned about the company through a newspaper. And given the lifetime value of the client, these losses are greater than the savings on advertising ...

In addition, practice shows that customers of different categories often come through different channels of attracting customers. For example, advertising in free newspapers can have many clients, but their solvency is mostly not the highest. And advertising in a glossy magazine brings fewer customers, but they leave much more money. Do you really want to work only with the first category of clients?

How to determine the effectiveness of advertising

Now to the question of how to determine the return on each of the advertising channels in order to understand whether it is effective or not. To do this, you first need to understand the various advertising formats. What is wrong with most ineffective advertisements? – The fact that they are made in one of the following formats:

1. "City Spravka"

This is an “advertisement”, which, in fact, is reference information (something like a city council or a message on a bulletin board) that does not carry any selling message: “That's what we are called. Here's what we're selling. Here are our contacts." Wherein

• No focus on the needs, needs and desires of the client.
• No reason to buy from this company.
• No reason to react now.

1. Image advertising

Differs from "city council"

• Great emphasis on the visual component of advertising, which supposedly creates the impression necessary to create a company brand.
• Often the complete absence of the “This is what we sell” component

For some reason, it is believed that the consumer should guess about it himself (?!) by the name of the company or what is shown in the advertisement. Although often photos and images are selected so ambiguous or incomprehensible that if you do not know the profile of the company, it is simply impossible to determine the advertised object.

Image advertising is allegedly aimed at building a brand and increasing its recognition. At least, this is how advertising agencies explain its meaning to their customers. At the same time, “modestly” is silent about the increase in sales. And since “a brand is not formed immediately, but only as a result of a multiple “attack” on the minds of customers from all sides,” then such advertising should be given often, for a long time and preferably through different advertising channels.

The fact that a brand is not what a company declares about itself, but what customers think about it, and that it is formed not with the help of advertising, but as a result of the interaction of a client with a company, advertising agencies, of course, are silent. Because the purpose of most of them is not to help you generate profit, to induce you to spend as much as possible on advertising, and therefore get more commissions.

And if for large companies known in their city, region or country, such an approach (carpet bombing with advertising) can still be justified to some extent, then for small and medium-sized businesses, image advertising is just a waste of advertising budget, which is still is limited and cannot be compared with the budgets of large companies.

It is more correct for small and medium-sized businesses to use not image advertising or “city information”, but direct response marketing, the meaning of which is that each marketing action of the company (including, but not limited to advertising) is evaluated in terms of its economic efficiency and payback (return on investment, ROI). Only in this case, you can be sure that the marketing budget really forms the profit of the company, and not just advertising agencies and sites.

The most important "secret" at the same time lies in the fact that advertising made in the direct response marketing format works for the image and brand of the company no worse, and in most cases even better than just image advertising. After all, the logo and the name of the company appear in both cases. Direct response advertising, on the other hand, also generates immediate incoming calls, and not just a mark in the memory of a potential client “I remember the logo and name of this company.”

1. Targeting your target audience.
2. The right choice of advertising channel.
3. A well-written message (and not just a pretty picture and a phone number).
4. The ability to track the response from a specific source or channel (action identifiers).

Action IDs

In order not to regularly ask the question of William Lever, the marketing department of the company should be given the task: when developing the details of a new advertising campaign or having an intention to spend money on advertising on a new advertising platform or using a new advertising medium, the effectiveness of which is not yet known, a fairly simple way should also be thought out measuring the results of this advertising.

If such a method is not invented, then either you refuse this advertisement, or you act at random, realizing that this is a risk, an experiment, the results of which are unclear. But you are ready to go for it to test this advertising method or advertising medium.

At the same time, it is necessary to understand what to ask the customers who called or entered the store or office the question “how did you hear about us?” - this is better than nothing, you can get at least an approximate idea of ​​​​the structure of advertising requests. But it is also a very inaccurate way. Its error can be up to 40% of incorrect answers. There can be many reasons: they don’t remember where they saw your ad, they don’t want to remember, they say the answer is just for excuses, they name the first newspaper or magazine that came to mind, they name a source that is simply more popular, etc.

Of course, it’s not for you to launch spaceships, but such an error is still poorly acceptable: there is a high risk that part of the advertising budget will go down the drain. Therefore, whenever possible, it is necessary to embed action identifiers in each advertising source - markers by which the source that brought the client will be determined.

At the same time, it must be remembered that the main parameter for evaluation is, after all, not the number of calls, but the amount of profit that customers attracted by one or another channel bring. It is not uncommon for situations when, with a smaller number of calls for any advertisement, there are more sales for it.

Here is a partial list of action IDs for some types of ads:

1. Print, TV, radio advertising

The most reliable way is to use a unique contact phone number in every magazine, newspaper or radio in which advertising is given at the same time. By the number of calls to a particular number, you can quite accurately assess the return on each advertisement.

There are two options where to get a number for each advertising channel: a landline number from a mobile operator and virtual numbers provided by various services. The cost of these services is more than compensated by the savings that arise from the abandonment of ineffective advertising methods.

If you can’t save enough for each channel of advertising numbers and those who receive calls, then you can specify an extension number that is unique for each of the advertisements. For each caller, the employee asks for an extension number “to connect with the appropriate department or employee” (even if there are no departments and he is the only employee receiving calls).

1. Internet advertising

It is much easier to organize “surveillance” and analytics on the Internet. To do this, to each link that leads to your site, special parameters are added at the end, assigned to a specific banner, email or link in an article.

To determine where a visitor came to the site from, who did not register, send applications from the site or buy online, but first decided to call, you can use a “dynamic” phone number. The principle is the same as with advertising in the media: the visitor on the site is shown a phone number that is "tied" to this source of customer acquisition. Those. depending on the source of the transition to the site, the script (program) on the site dynamically changes the phone number specifically for this particular visitor.

1. Leaflets and flyers

A leaflet or flyer can (and should) be made into a coupon. By how many of them will be presented in a store, salon or office, it will be possible to at least approximately understand whether their distribution on the street or putting them in mailboxes has paid off for you. If possible, coupons on flyers should be made different for different places of their distribution: for one intersection - one code, for the second - another, for the shopping center - the third.

The topic of advertising effectiveness is quite extensive (I have an entire course devoted to this), but even this information should already be enough to turn your marketing from a “black box” with unpredictable principles of work into a transparent and understandable system that generates profit.

How do you track the effectiveness of your ads?

Investment project is a product that is promoted to the investment market and competes with other projects for raising funds and is a formalized proposal to change the activities of the enterprise, pursuing a specific goal.

Projects are usually divided into tactical and strategic. TO strategic projects include projects involving a change in the form of ownership (creation of a leased enterprise, joint stock company, private enterprise, joint venture, etc.) or a fundamental change in the nature of production (release of new products, transition to fully automated production, etc.). Tactical projects are usually associated with a change in the volume of products, improving the quality of products, upgrading equipment.

In the new economic conditions, an enterprise represented by its owners and top managers must independently resolve all strategic and tactical issues of investment activity. The procedure for forming the investment activity of an enterprise in relation to a specific project is formalized in the form of the so-called project cycle, which has the following steps.

The first stage is the formulation of the project. The management analyzes the current state of the enterprise and determines the priority directions for its further development. The result of this analysis is formalized in the form of a strategic investment goal, which is aimed at solving problems that are important for the enterprise. At this stage, several directions for the further development of the enterprise may appear, if all of them seem useful and feasible, then a parallel development of several investment projects is carried out so that the decision on the most acceptable of them is made at the final stage of development.

The second stage is the development (preparation) of the project. At this stage, a gradual refinement and improvement of the project plan in all its dimensions - commercial, technical, financial, economic, institutional, etc. is required. An issue of extreme importance at the stage of project development is the search and collection of initial information for solving individual project tasks. It is necessary to realize that the success of the project implementation depends on the degree of reliability of the initial information and the ability to correctly interpret the data that appear in the process of project analysis.

The third stage is the examination of the project. If the share of a strategic investor (credit or direct) is significant in the financing of the project, the investor himself will conduct an examination, for example, with the help of some reputable consulting firm. If an enterprise plans to implement an investment project mainly at its own expense, then an examination of the project is also highly desirable to verify the correctness of the main provisions of the project.

The fourth stage is the implementation of the project. All types of activities are monitored and analyzed as they are carried out and controlled by supervisory authorities within the country or by a foreign (domestic) investor. This stage includes the main part of the project, the task of which, ultimately, is to verify the adequacy of the cash flows generated by the project to cover the initial investment and provide the investors with the desired return on invested money.

The fifth stage is the evaluation of the results. It is carried out both at the end of the project as a whole, and in the process of its implementation. The main purpose of such an assessment is to obtain real feedback between the ideas incorporated in the project and the degree of their actual implementation.

After formulating the strategic innovation goal, it is necessary to analyze the state of the industry to which the enterprise belongs, and the comparative position of the enterprise within the industry. This analysis is the content of the preliminary stage of development and analysis of the investment project. It is customary to analyze the maturity of an industry by referring it to one of four developmental states: embryonic, growing, mature, and aging. In accordance with the second criterion, it is necessary to establish the competitiveness of the enterprise within the industry to which it belongs.

Analysis has a single structure, which includes special sections that evaluate the commercial, technical, financial, economic and institutional feasibility of the project (Fig. 5.7) .

Analysis of the commercial feasibility of the project (marketing analysis) is to answer two simple questions: can we sell and how much profit will we get. Marketing analysis should include: consumer and competitor analysis that identifies consumer needs, potential market segments, and the nature of the buying process.

Based on the results of marketing analysis, a marketing plan. It must define

Rice. 5.7.

product development, pricing, product promotion and marketing strategies, as well as organizational, financial, production and supply aspects of its activities. As part of a marketing plan, it is desirable to predict the reaction of competitors and its subsequent impact on the ability to fulfill this plan.

When developing an investment project, it is necessary to highlight all the marketing aspects of investment design. There are currently four main blocks:

• 1) market analysis;
• 2) analysis of the competitive environment;
• 3) development of a marketing plan for the product;
• 4) ensuring the reliability of the information used for the previous sections.

I would like to dwell on market analysis. The purpose of market research is to identify consumer needs, identify market segments and the buying process to improve the quality and speed up the investment marketing decision-making process. Structural market research should begin by identifying competitors, public or private enterprises, local, national or international companies, traditional or new, labeled or unlabeled products. It is very important in the process of marketing analysis to use quantitative estimates.

Technical analysis carried out to determine the technologies that are most appropriate in terms of the objectives of the project; checking the potential for project planning and implementation. Technical analysis is usually carried out by a group of the company's own experts, with the possible involvement of narrow specialists. The standard procedure for technical analysis begins with an analysis of existing technologies.

The financial analysis- this is an analysis of the financial condition of the enterprise, which has the following structure:

• analysis of the financial condition of the enterprise during the three (preferably five) previous years of the enterprise's operation;
• analysis of the financial condition of the enterprise during the preparation of the investment project;
• analysis of break-even production of the main types of products;
• forecast of profits and cash flows in the process of implementing an investment project;
• assessment of the effectiveness of the investment project. Financial analysis can be subdivided into calculation basic financial ratios, definition break-even points and definition investment needs of the enterprise. Financial analysis of the previous work of the enterprise and its current position is usually reduced to the calculation of the main financial ratios that reflect the liquidity, creditworthiness, profitability of the enterprise and the effectiveness of its management. If an investment project is being prepared to attract a Western strategic investor, the financial statements should be converted to the format of the country from which the investor is supposed to be attracted.

It is important to carry out break-even analysis. It includes systematic work on the analysis of the structure of the cost of manufacturing and selling the main types of products and the division of all costs into variables (which change with changes in production and sales) and fixed (which remain unchanged with changes in production). The main goal of the break-even analysis is to determine the break-even point, i.e. the sales volume of a product that corresponds to a zero profit value. The importance of such an analysis lies in comparing the actual or planned revenue in the process of implementing an investment project with the break-even point and subsequent assessment of the reliability of the enterprise's profitable activities.

When forming the investment part of the financial section of the analysis, it is necessary to determine the investment needs of the enterprise for the project, establish sources of financing for investment needs, evaluate the cost of capital raised for the implementation of the investment project, make a forecast of profit and cash flows through the implementation of the project, evaluate its performance indicators.

Economic analysis is carried out only for investment projects for which, in addition to assessing their financial efficiency, it is customary to analyze economic efficiency and economic attractiveness, i.e. the degree of compliance of the project with the priority tasks of the state. The procedure for assessing economic efficiency can be represented as the following sequence.

• 1. Present the results of the financial analysis.
• 2. Form a new classification of costs and revenues in terms of economic analysis.
• 3. Convert financial values ​​of indicators to economic ones.
• 4. Estimate the cost of other opportunities to use resources and obtain the same product.
• 5. Exclude all settlements on internal payments.
• 6. Compare the annual economic flows of funds with the initial investment.

If an enterprise develops an investment project by independently attracting investors, it ultimately focuses the overall interest of the project on the benefits of its participants, mainly those individuals and legal entities that provided financial resources for the project. And if the state is not among these persons, the economic analysis of the project can be omitted.

institutional analysis evaluates the possibility of successful implementation of the investment project, taking into account the organizational, legal, political and administrative environment. Its main task is to assess the totality of internal and external factors that accompany an investment project. In the process of institutional analysis, an analysis of the possibilities of production management, an analysis of labor resources, and an analysis of the organizational structure are carried out.

It is necessary to analyze how the decision-making process takes place at the enterprise and how the distribution of responsibility for their implementation is carried out. It is possible that the management of the implementation of the investment project being developed should be separated into a separate management structure, moving from a hierarchical to a matrix structure of enterprise management.

Risk analysis involves taking into account all changes: the cost of raw materials and components, capital costs, maintenance costs, sales costs, prices, etc. In the process of risk analysis, the following scheme is used Kuchin B. L. Investment marketing: monograph / B. L. Kuchin, S. P. Kazakov. M.: MATI, 2008.

Investment marketing is still a rare innovative business service for the Russian market, which has recently appeared in the investment sector of the economy. This relatively new direction, somewhat isolated from marketing in its classical sense, serves to provide company executives with reliable, reliable, complete and timely business marketing information about the market, the structure and dynamics of demand, the preferences of corporate and private investors.

Relatively recently, a new innovative business service for the investment sector of the economy appeared on the Russian market - investment marketing. Its goal is to equip the customer of this type of business service with advanced scientific, innovative and market-practical knowledge, skills and abilities in the field of investment. And also - about competitors and means of ensuring a stable position in the investment sector of the economy. And, as a result, to contribute in every possible way to the activation of the investment process and the rise of a competitive production potential.

Investment Marketing Philosophy

Investment marketing is a relatively new direction, somewhat isolated from marketing in its classical sense of free market relations. Although, both in the classical and in the investment aspects, marketing means - the market. But, as Russian practice shows, the usual marketing techniques do not work in the investment business. This requires innovative business marketing technologies.

Investment marketing is needed, first of all, to manage the organization and financing of investments in the real economy. Its methods are:

• activities to study the global and domestic investment markets;
• development, distribution and promotion of investment products, projects and programs;
• management of market processes in combination with investment management methods.

Despite the fact that investment management, in other words, investment management, at first glance seems to be a relatively simple matter (business), without combining it with investment marketing mechanisms, its capabilities are severely limited. The use of investment marketing in a market economy is an objective necessity.

The basic principles of investment marketing include:

• the need for constant study of the state and dynamics of the market;
• investment adaptation to its conditions;
• active influence on the market;
• formation of investment products (projects, programs) in the most profitable sectors of the economy;
• a comprehensive system for monitoring the state of the competitive environment, including indicators and criteria for its assessment.

Investment marketing is profit-oriented, and its integrated target philosophy is to identify and take into account the needs of investors and their actual implementation in production, stimulate demand and promote goods and services from producer to consumer, and successfully implement investment projects and programs.

On a note

Investment marketing is a relatively new direction, somewhat isolated from marketing in its classical sense of free market relations.

The concept of investment marketing considers investments as the basis of economic activity in a single organization. Investment projects are considered here as a means to an end. And the goals of investment marketing can be: profit maximization, investment volume, increase in market share.

The applied value of investment marketing determines its main tasks and methods, which consist in the disclosure of the following issues:

• procedure for scientifically based decision-making in the field of investments;
• investment risks, their assessment, ways to prevent or reduce;
• sources of financing of capital investments;
• methods of choosing the most profitable and reliable sources of financing;
• formation of an optimal investment portfolio;
• methodology for economic justification of capital investments;
• investment planning.

The main provisions of the theory and practice of investment marketing, which ensure the realization of its goals, are based on the following principles:

• complex research of the investment market;
• planning and coordination of investment activities;
• ensuring high competitiveness;
• ensuring a highly profitable investment process;
• activity oriented to the requests and needs of investors.

The functions of investment marketing, its individual types, and areas that have become isolated from classical marketing, as a result of investment specialization, are as follows:

• analysis (monitoring) of the investment market, study of its state, trends and dynamics;
• segmentation of the investment projects market;
• positioning of investment projects and programs;
• analysis (monitoring) of competitors' activities;
• forecasting investment market conditions;
• development of the most effective investment projects;
• marketing control;
• planning investment and marketing activities.

During the implementation of an innovative business service for the investment sector of the economy - investment marketing, in order to calculate the cost of work, the customer should choose a strategy: financial, economic, financial and economic, complex or other. The complex of services on the scale "price / quality / terms" will depend on this choice.

Investment Marketing Strategies

Investment marketing strategies are an integral part of the global investment strategy, which determines the means and methods of obtaining advantages over competitors, as well as the allocation of resources necessary to achieve marketing goals. Investment marketing strategies are mainly aimed at increasing the controllable market share based on the use of key factors of marketing activity. They are the result, among other things, of strategic business planning processes, which, in combination with investment processes, act as a cumulative movement of investments of various forms and levels.

After all, the implementation of the investment process presupposes the existence of a number of conditions, the main of which are: a resource potential sufficient for long-term successful functioning, the existence of economic entities capable of providing the investment process on the required scale, a mechanism for transforming investment resources into objects of investment activity. In a market economy, the investment process is realized through the mechanism of the investment market. And in investment marketing - strategies.

In investment marketing, two strategies mainly prevail: the “spyglass” strategy and the “boarding!” strategy. The first type of strategy involves carefully studying the business space from afar with the help of mechanisms and technologies that do not allow you to recognize your actions and intentions in advance. The spyglass analogy. So naval commanders study the enemy fleet before moving on to active offensive operations. Therefore, the second strategy is decisiveness and pressure. Both strategies should take into account the forecasts for the development of the investment environment (pessimistic, optimistic, realistically probable, force majeure), changes in the structure of investment market segments, the likely dynamics of price and value changes, as well as the real and forecast models of marketing behavior of competitors. For clarity, we present two models of marketing strategies that are typical for classical and investment marketing (Table 1).

If we consider the strategic planning of investment marketing in the context of the entire investment process, then it can be defined as the usual managerial process of creating and maintaining a strategic match between the goals of the organization and its potential opportunities in the field of investment marketing. Investment marketing planning specifies what marketing activities an organization should take and why they are vital. Determines who is responsible for their implementation, where they will be undertaken, when and how they will be completed. The process of strategic planning in investment marketing consists of the following interrelated steps:

• definition of goals,
• substantiation of goals,
• setting investment marketing goals arising from the goals of the organization,
• conducting a situational analysis,
• development of a marketing strategy,
• development of tactical steps,
• result control.

The most important part of planning is the development of a preliminary marketing strategy for entering the market with a new investment product. Having decided on this intent, the management of the organization can begin to assess the business attractiveness of the proposal. With positive results of the analysis, it decides to start direct contact with the investor, having previously developed an appropriate action plan.

The development of an investment marketing action plan provides the following opportunities: firstly, the planned use of resources to achieve marketing goals, and secondly, the establishment of a logical sequence of individual activities and procedures for setting marketing goals, choosing marketing strategies and developing measures to achieve them for a certain period, based on assumptions about future conditions for the implementation of the plan.

The goals of investment marketing can be: profit maximization, investment volume, increase in market share ...

The main goal of investment marketing in creating a comprehensive plan is to create a communication environment between the organization and the investor. The result of competent marketing planning is a marketing plan that serves to implement the marketing strategy of the selected type, as well as the entire marketing 4P paradigm (a set of controlled variables of the classic marketing mix: product (product), price (price), place (place), promotion (promotion). ). Its main purpose is to define goals, indicate deadlines, outline specific actions (tasks) for all performers. A marketing plan is a basic document used in the marketing management process. It includes:

• program of action in the field of investment policy;
• the main priorities and strategies of marketing activities for the planned period with details by type of investment;
• organization, assessment of the strengths and weaknesses of its marketing activities, threats and market opportunities (SWOT analysis);
• marketing budget.

The basis of the marketing plan is marketing goals and targets. The obligatory and most important part of the plan is an analytical review of the state of the market and competitors. The marketing plan establishes specific targets for each area of ​​activity, and draws up an overall cost estimate. The form and procedure for developing a marketing plan depends on the goals, objectives and training of the marketing team. In an approximate form, it looks like this (Table 2).

Strategy follows tactics. And then their synchronization. Investment marketing tactics is a set of measures to achieve the goals of the organization in each market and for each type of investment for a given period of time. It is formed on the basis of the marketing strategy and the dynamics of the real current market situation. Tactics are primarily aimed at:

• achieving a sustainable level of profit,
• active behavior in the market,
• sensitive response to changing situations,
• taking adequate response measures to the actions of competitors,
• adjustment of goals in accordance with changes in investor requests.

The tactics of investment marketing in relations with investors will be discussed in the next section.

Tactics of marketing relations with investors

It's no secret that relationships with investors can develop in different ways. Accordingly, the tactics will be different in each case. How can relations with investors affect the development of the investment business? And the most direct. After all, the main basis of these relations is the openness of information, data, and in general - all business information.

The main tasks in relations with investors are the following. Firstly, this is an increase in the value of shares, and secondly, a decrease in the cost of investment capital. How to achieve this? First of all, by increasing the degree of shareholder confidence and ensuring the attractiveness of shares for:

• institutional investors,
• private investors,
• financial analysts.

The purpose of this activity is to reach the maximum limit of the market value of shares. To achieve it, the following tactical steps are taken:

• the first is to constantly maintain the interest of shareholders in the company,
• the second is the regular provision of shareholders with new information.

On a note

In investment marketing, two strategies mainly prevail: the “spyglass” strategy and the “boarding!” strategy.

In addition, during the implementation of investment marketing plans, the following functions are performed by investor relations specialists, as a result of which:

• development of information strategy and tactics;
• drawing up recommendations for the implementation of the developed strategy and tactics, and their synchronization;
• assessment of the loyalty (loyalty) of shareholders, legislators, financial experts to a particular company or to the sector of the economy in which the company operates;
• a set of special events for certain target and contact groups of investors, financial analysts, representatives of influential media (open and closed presentations, business study tours, foreign business trips);
• preparing and distributing press releases;
• a system of measures to assist in the preparation of thematic publications (annual reports, reports, appeals to investors).

Along with this, the tactics of marketing relations with investors involves the implementation of the following types of information support, namely:

• information and analytical services for investors, including at their request;
• expert support of the top management of companies on issues of integrated communications with the media;
• analytical monitoring of the legislative and regulatory framework.

The tactics of marketing relations with investors also involves intensive work to reduce various kinds of risks pursuing the investment business.

..."inverted" classification fully characterizes not only the frequency of communication with each of the groups. But it also schematically reflects the system of public-private partnership...

The most important direction of tactics of marketing relations with investors is work with contact groups. They, respectively, are divided into a large number of subgroups, but in their main classification they look like this:

• investors (corporate and private).
• current and potential shareholders.
• financial investors.
• stock analysts.
• specialized business media.
• investor relations specialists.

And, finally, the Government of the Russian Federation belongs to the most influential, seventh group.

Such, at first glance, a non-specialist, "inverted" classification fully characterizes not only the frequency of communication with each of the groups. But it also schematically reflects the system of public-private partnership. The goal of all work in this area of ​​investment marketing is to attract investment through the formation of an attractive investment climate in the country, which can affect not only the price of individual shares.

In conclusion, it can be noted that innovative marketing is based on the principle of the so-called. "enlightened marketing", according to which the organization must continuously improve products and marketing tools. After all, it is not without reason that the most advanced clients have noticed that "innovation is always held in high esteem by investments."

Viktor Zimin, General Director of the Expert-analytical and information-rating company "UNIPRAVEX", member of the Board of the Moscow Chamber of Commerce and Industry, for the magazine "Consultant"

Magazine "Consultant"

The invaluable experience of top managers of leading Russian companies in solving urgent and fundamental corporate problems in the Consultant magazine.

In the conditions of an unstable economic situation and a pronounced financial starvation in all areas, the problem of finding and attracting investments is more relevant than ever. According to Rosstat, real estate construction in Russia in 2015, compared to 2014, decreased by 13.2%. Even without referring to any statistics and relying only on tangible changes in the economy in recent years, it is easy to conclude that in the field of investment and construction projects, the problem of finding investors is acute.
This article discusses non-standard and hardly applicable, especially in Russia, ways to attract investment in construction. An important factor is that all the tools and investor search schemes listed below are not universal and require careful analysis and a competent understanding of the parameters of each specific project. There are also a number of negative factors hindering the development of Internet marketing in Russia, which should also be taken into account. For example, the human factor is a conservative attitude to the implementation of projects and the rejection of the digital sphere in principle. An important role is played by the lack of qualified specialists in the field of Internet marketing in the regions, as well as a rather complicated procedure for monitoring specialists, given the traditional systematic error in choosing KPIs (key performance indicators). But the trend towards the use of foreign innovations in our country, as well as the availability of working methods, for example, in Canada, allow us to conclude that the widespread use of Internet marketing tools in the field of investment and construction processes is a matter of the foreseeable future.
To begin with, I would like to reduce the task of finding investments to a simple thesis: “Yes, there are potential investors among Internet users, and, yes, with the application of certain efforts, the task of establishing contact and establishing cooperation with them comes down to several successive steps.”
The first and simplest option, which reflects the work with behavioral factors on the network, but is not an Internet marketing tool in itself, is the search for thematic resources that are the permanent habitat of the target audience. In the context of investment and construction projects, these are various construction forums, online publications, exchanges, interest clubs. As an example: stroi-baza.ru , moscow.mirstroek.ru, yondi.ru etc. If we ignore the construction topic and set ourselves the goal of finding an investor in principle, then there are also a large number of active platforms for communication: investclub.ru, investtalk.ru, bzb.ru. It should be noted that often everything depends on the specifics of the project, so the task of finding the target audience and working with specific communication resources comes down to understanding by the contractor of all aspects of the project, which in turn requires the presence of such a contractor on the staff of the organization involved in attracting investments. The task of a full-time Internet marketing specialist, or, which is the most common option, an employee who performs the function of such a specialist, is reduced to a minimum: the ability to correctly build a search query and the ability to navigate the network to be able to select the right resources. Also, an equally important factor is taking into account their specifics: forum rules; the ability to influence the ranking of an ad for an additional fee to increase the number of views, and so on. It is worth highlighting business social networks in a separate category - Western, but popular in our country, Linkedin.com and domestic Professionals.ru. Work to attract investment in such social networks is possible precisely because of their business orientation, which is different from the usual entertainment nature of such resources. At the request of "investor" in the social network Linkedin.com as of March 2016, 2,862 profiles can be found. All of the above in the aggregate is the most budgetary option for finding investments in the network and, under certain conditions, requires only temporary resources from the project participant. It should be noted that in order to achieve concrete results within the set time frame, it is necessary to approve the budget of the advertising company and distribute it among priority channels, taking into account the specifics and scale of the investment project. Another option for attracting investments is the use of proven tools for generating traffic in the network. To carry out activities in this direction, a prerequisite is the involvement of a highly qualified specialist in the project, as well as detailed control of the advertising budget. To date, there are many different tools, but the most effective and, accordingly, the most used methods are clearly expressed in the Russian segment of the market.

One of these tools is contextual and search advertising Google Adwords and Yandex Direct. According to Yandex Wordstat, the word "investor" is requested more than 157 thousand times a month. 28 thousand of these requests come from residents of the city of Moscow. The display of advertisements in these systems directly depends on the content of the web page that the user is viewing at one time or another, as well as on specific user requests. By visiting a site dedicated to, for example, buying airline tickets, the user will be the target of relevant advertising for buying tickets from other organizations. Thus, without questioning and other methods, a need is revealed. In the case of attracting investments, only the final goal changes, but in general, this is work according to the lead management methodology. In the classical attribution model, a click (transition) on an advertisement and the subsequent execution of a target action are important. Depending on the placement position and the specific request, the transition of one interested user will cost 7 - 500 rubles (as of March 2016). The cost of a click directly depends on the degree of competition and the frequency of a particular request.
There are a number of other tools that do not require detailed settings, but can show results in a short time. Their cost will already be several thousand rubles, but in certain cases their use is a rational option. For example, banner advertising in various formats on the above-mentioned forums and portals. Using your high-quality banner on the site where the target audience is concentrated allows you to expand the search area and achieve results as quickly as possible.
It should be noted that not all methods of Internet marketing will be able to successfully adapt to the scope of attracting investment in construction projects. SEO promotion (optimization of sites to raise them in search engine results), for example, will not bring any results due to the need for long and constant work in this direction. In a short time, you won’t get results from SEO promotion.
In social networks, even in the entertainment segment, there are tools for displaying targeted advertising and processing retargeting bases (displaying ads to a previously collected audience). In the first case, the social network offers to select demographic and other parameters (interests, position, university, etc.) to show ads to the owners of those profiles that may be potentially interested in your offer. In the second case, ads are shown only to those people who are listed in the database (for example, a profile can get into the database when visiting a certain site if a special code is installed on it). Of course, in this case, it is logical to direct the advertising budget specifically to work in the previously mentioned business social networks.
Of the many tools of Internet marketing, it is also worth highlighting the e-mail newsletter. In this case, you need to find or independently collect a database of mailing addresses and correctly compose an offer, protecting your letter as much as possible from the potential possibility of getting a “spam” label. Modern automated e-mail services have their own moderation and control systems, so when using them, the likelihood that a potential investor will consider an offer increases significantly.
The most important point required when generating advertisements is the creation of the so-called Landing Page or landing page. This is a one-page site that provides only one targeted action (leave your phone, order a product or subscribe to an e-mail newsletter). After clicking on an advertisement anywhere, a potential investor should be redirected to the landing page, where he will learn about all the benefits of the project, details and conditions, and will also be able to leave his contact details or directly contact the representative of the organization. Such one-pagers are the most conversion option, compared, for example, with redirection to the site of a design organization. This is due to the fact that a person who clicked on an advertisement and, accordingly, became interested in the project, will see the necessary information in front of him and the opportunity to do only one targeted action. The dispersion of attention that will appear when redirecting to the organization’s website will significantly reduce the conversion. The creation of a landing page can be carried out both with the involvement of specialists, and independently. There are a huge number of free or inexpensive solutions that, given the factor of a very tight advertising budget, will allow using the constructor method to create a one-page site to direct traffic from advertising to it.
Crowdfunding platforms, the so-called public investment systems, can be called a separate option for attracting investments. The sites that have been successfully operating in the west for a long time have shown themselves well in Russia as well. The essence of the platforms is that the project participant publishes detailed information about what should be implemented and sets the benefit framework for investors of various sizes. A striking example is the construction of the estate of the national school of leaders "Cranes" in the city of Kostroma.

Being placed on the Russian crowdfunding platform boomstarter.ru, the authors of the project managed to raise 3,060,000 rubles. It was assumed that potential investors could invest from 400 to 1,000,000 rubles, while receiving special privileges and benefits after the implementation of the project. For example, an investor who invested 10,000 rubles received a link to download a package of training materials from the Zhuravli school, the right to participate in the training session of the institution, free travel, accommodation and meals on the estate, as well as a place in the honor book of the organization. The presence of a large number of crowdfunding platforms in Runet, coupled with the fact that there are successfully implemented projects, suggests that placement on such platforms (especially in the field of industrial construction, where it is possible to indicate a direct benefit for investors) can attract funds for the implementation of an investment and construction project.
Another example is the construction of a multifunctional animal care center in the Moscow region. The description of the project was posted on the Russian platform Planeta.ru The fundraising, which ended on March 1, 2016, raised 5,050,832 rubles.
Do not forget about the possibility of seeking foreign investment. In this case, it is necessary to use foreign Internet resources similar to those described above.
Thus, we can conclude that a competent market analysis, the participation of a qualified Internet marketer in the project, the ability to clearly articulate the essence and goals of the construction project, as well as the reasonable distribution of the advertising budget will most likely attract at least part of the funds for the construction, and as a maximum - to attract a full-fledged investor to the project. Given the presence in our country of a successfully functioning online B2B niche, with a trend towards a systematic transition of business processes to the network, it is difficult to deny the need to develop a common marketing strategy to attract investment in such a serious niche as construction.

Bibliographic list

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6. Jason Rich Crowdfunding. Fundraising Reference Guide
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