Startupfest 2012- Random Acts of Marketing are Killing Your Startup
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Marketing is a big term that covers lead generation, media relations, content marketing, social media, messaging, sales support and a huge heap of other things. Most startups have a puny budget and few (if any) dedicated marketing folks to get this stuff done. Yet many manage their marketing efforts more like a random to-do list than an integrated program. In this talk we’ll talk about the common pitfalls of disorganized startup marketing execution and outline a lightweight template for creating a marketing plan that makes that most of your limited marketing resources.
Startupfest 2012- Random Acts of Marketing are Killing Your Startup
- 1. A Systems Approach to Startup Marketing A solution to random acts of marketing April Dunford @aprildunford RocketWatcher.com
- 2. April Dunford As a marketing exec: 6 startups: 4 launches, $1B revenue, $2B acquisitions 3 big companies: 2 product line launches, $3B revenue, 8 acquisitions (buy side) As a Marketing Bon Vivant/Gallivanter: project-based marketing work, advisor, instructor, investor, coffee/beer drinker
- 3. How does an engineer become a career marketer?
- 4. Step 1: Get friend to give you a marketing job
- 5. Step 1: Get friend to give you a marketing job Step 2: Don’t get fired
- 6. Step 1: Get friend to give you a marketing job Step 2: Don’t get fired (Pro tip: Step 2 is way harder than Step 1)
- 7. What I learned reading 100’s marketing books plus taking a ton of marketing courses:
- 8. Marketing theory is useless
- 9. Marketing theory is useless (until after you know what you’re doing)
- 10. The 5th P of Marketing:
- 11. The 5th P of Marketing: Pissed off!
- 12. Meanwhile: “Hack me some $$, Growth Hacker!!”
- 13. So I started doing “marketing” stuff.
- 14. The Cycle of Marketing Meh Marketing Fashion Assessment* Select Improve tactics Measure Execute * Where you look at what everyone else is doing
- 15. 1. No relationship or consistency between the tactics
- 16. 1. No relationship or consistency between the tactics 2. Assumptions were always a problem
- 17. 1. No relationship or consistency between the tactics 2. Assumptions were always a problem 3. I couldn’t always answer “stupid” questions
- 18. But sometimes I could
- 19. Can great startup marketing be modeled?
- 20. Inputs 3 aspects of customer knowledge Who they are How they view solutions How they buy stuff
- 21. Customer Worksheet Segment 1, 2, 3 Company Characteristics: Geography, size, industry Stuff they do, type of customer they serve, how they sell, their ecosystem, budgets, risk tolerance, power structure, etc. Consumer/Decision Maker 1, 2, 3: Characteristics: demographics, education, skills, interests, motivations, goals Pain: list of things that drives this group crazy Where they hang out: Social networks, communities, associations/groups, events Where they find out about stuff: Search engines, word of mouth, peers, media outlets, blogs, experts, influencers/famous people
- 22. Offering Worksheet (Customer Perspective) What do we do? What market are we in? Competitive Alternatives: Examples: Do nothing, manual effort, Word/Excel, competitive product Key Differentiated Points of Value When compared to the alternatives above the specific value you bring that the others don’t. Proof Customer references, 3rd party reviews, statistics, metrics, expert endorsements,
- 23. Sales Process Consider- Awareness Purchase Renewal ation
- 24. Sales Process Consider- Awareness Purchase Renewal ation
- 25. Buying Process Accelerators Knowingth Knowing Knowing Whypurch Using and Knowing I e cost of the Value the value ase now? enjoy the can’t do not solving of solving of your offering without the the the solution offering problem problem No Re- Need Eval Buy Enjoy Need new Current Value not Not I might Bad Decided solutiongo compelling knowing change service, there was od enough Risks too how to my mind Bad user no need high evaluate Too much experience Move to Great but $ Not using other not for me solution Friction points
- 26. Tactics Selected based on: Who you need to reach Where you can reach them Stages where the friction is What you need to do to move them to the next stage
- 27. Operations Plans based on selected tactics Email marketing plan/process/calendar Paid traffic plan/process Content plan/calendar Social media plan/calendar Media/Influencer relations plan/calendar …
- 28. Metrics How prospects are flowing through the buying process
- 29. Analysis What conclusions can you draw? How do these impact the inputs?
- 30. The Circle of Marketing Awesome Project plans Tactical Execution Customer Offering Inputs Outputs Metrics Buying Process Analysis Conclusions
- 31. Thanks! @aprildunford RocketWatcher.com