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Entrepreneurial Marketing
 

Entrepreneurial Marketing

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    Entrepreneurial Marketing Entrepreneurial Marketing Presentation Transcript

    • Visit evisors.com to browse all mentors who can help you with: • Informational Interviews • Resumes & Cover Letters • Mock Interviews …and more! Hosted by: Career Advisors on Demand..com/webinars
    • Entrepreneurial Marketing featuring: James Weiss Founder, JBW Advisory & Former Senior Manager at Hosted by: Caitlin Quan Evisors Marketing & Operations Associate Hosted by: Career Advisors on Demand..com/webinars
    • Agenda 1. About James 2. Tactics vs. Strategy and the money myth 3. Product – market fit, pain, and virality 4. A few resources to help 5. Q&A Hosted by: Career Advisors on Demand..com/webinars
    • About James “Entrepreneur and Reformed Consultant” • Have built three businesses, currently building 2 more • In 2010 started JBW Advisory, helping early-stage companies in media and consumer products / retail • >6 years post MBA at Bain NYC, Singapore, HK • Princeton AB, Wharton MBA • Started career at DreamWorks in LA as a driver to composer Hans Zimmer Hosted by: Career Advisors on Demand..com/webinars
    • Why are you here? • You’ve launched an entrepreneurial venture and you’re looking for customers • You’re preparing to launch and you’re thinking about your marketing strategy • You’re currently a marketer and are interested in how things are different on the other side Hosted by: Career Advisors on Demand..com/webinars
    • Tactics vs. Strategy Strategy = what’s the plan to build this business Tactics = how many twitter posts do we need today Tactics flow from strategy Hosted by: Career Advisors on Demand..com/webinars
    • The myth Hosted by: Career Advisors on Demand..com/webinars
    • Money doesn’t solve the problem $41MM $340MM $45MM $135MM Source: http://techli.com/2012/04/10-greatest-startup-failures/ Hosted by: Career Advisors on Demand..com/webinars
    • The real challenges Product Market Fit Does my product solve a problem? Story How do I get people to want to buy my product? Virality How do I get people to tell their friends about my product? Hosted by: Career Advisors on Demand..com/webinars
    • Product Market Fit – it’s easy! Hosted by: Career Advisors on Demand..com/webinars
    • Perhaps not so easy Hosted by: Career Advisors on Demand..com/webinars
    • “A lot of times, people don't know what they want until you show show it to them.” --Steve Jobs Hosted by: Career Advisors on Demand..com/webinars
    • Hosted by: Career Advisors on Demand..com/webinars
    • How important is this? “Do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want to.” – Marc Andreesen You can’t market something that people don’t want so much that they’re willing to break current habits to switch to yours. Hosted by:See the rest at evisors.com/webinars/webinar/75
    • You need to listen carefully Lots of ways to talk to customers • Surveys • Google analytics • Focus groups • Interviews • Usability testing • Yahoo! Answers • Facebook Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Product-Market fit Lots of ways to talk to customers • Surveys • Google analytics • Focus groups • Interviews • Usability testing • Yahoo! Answers • Facebook 1. Who are the true customers 2. What is their true need 3. How will you meet that need 4. How much pain is required to switch Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Driving Awareness Marketing Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Source: http://www.confusedmatthew.com Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Entrepreneurs need to educate to get consideration Source: http://www.adamhcohen.com Hosted by:See the rest at evisors.com/webinars/webinar/75
    • 1. A fashion brand 2. Offering value and service 3. With a social mission Hosted by:See the rest at evisors.com/webinars/webinar/75
    • There are innumerable tactics to build awareness Source: http://bit.ly/XnJGce Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Before you start thinking tactics… What’s your story? • Why are you in business? • What do you believe? • What is your value proposition? • Why is this meaningful to you? If you can’t tell this story, how will other people tell it for you? Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Virality: The marketing holy grail Source: http://blog.amplifinity.com Hosted by:See the rest at evisors.com/webinars/webinar/75
    • What’s “virality” all about? Virality is: 1. Creating customer experiences delightful enough that people want to tell their friends 2. Making it easy for customers to do so Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Virality isn’t new! Customer references Word of mouth Reviews Sharing Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Sharing existed long before Facebook Source: http://dailymail.co.uk Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Sharing existed long before Facebook Source: http://cocainehelp.promisblogs.com Hosted by:See the rest at evisors.com/webinars/webinar/75
    • virality in 3 easy steps® 1. Get your brand into people’s hands 2. Make sure they love it 3. Give them super-easy ways to share (bribes don’t hurt either) Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Hosted by:See the rest at evisors.com/webinars/webinar/75
    • To sample or not to sample? a) cost of a sample vs. customer lifetime value b) how much pain and risk are required to try and share Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Product love: NPS Source: http://propertycasualty360.com; Bain & Company Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Sharing in the internet age Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Sharing in the internet age • Built the platform for $300,000 • Spent nothing on advertising • Within 18 months had ~20% of internet users Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Sharing in the internet age Get your free, private e- mail @ http://www.hotmail.com Hosted by:See the rest at evisors.com/webinars/webinar/75
    • PS… the story hasn’t changed Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Selfish Plug: MackWeldon Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Selfish Plug: MackWeldon Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Closing thoughts Good strategy trumps money and tactics any day of the week. • Build a product that people really need and want (so you’ll have “pull”), and figure out who those people are • Tell the story as simply as possible (so you can advertise, publicize, etc. effectively) • Figure out the obstacles to trial and build around them - remember you’re trying to make a market that didn’t exist, so you must eliminate friction) • Delight customers, encourage sharing, but remember pain! • Buy MackWeldon! Contact me for an F&F code  Hosted by:See the rest at evisors.com/webinars/webinar/75
    • A few resources • http://blog.kissmetrics.com/ultimate-guide-startup- marketing/ • http://marketingbeforefunding.com • http://onforb.es/14PMZui • http://www.slideshare.net/seanomalley/startup-marketing- presentation • http://www.unbound.com • http://www.startup-marketing.com/the-startup-pyramid/ • http://www.growhack.com • http://wp.me/p1FaB8-1JXd Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Questions & Answers Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Questions & Answers Question 1: How do you effectively market with a small budget and limited resources? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 2: When is it time to invest in a dedicated marketing resource? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 3: How do you market effectively to women with broad similarities? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 4: How do you market a product/service that is unrecognized by customers? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 5: How should different marketing activities be prioritized? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 6: How do you identify core messages that reflect your brand and resonate with your customers? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Questions & Answers Question 7: What are some of the important aspects in B2B marketing? Hosted by:See the answer at evisors.com/webinars/webinar/75
    • Connect Book your one-on-one session with James at www.evisors.com/expert/689 James Weiss Founder, JBW Advisory He can help you with: • Career Assessment • Consulting Interview Practice • Resume Development …and more! Hosted by:See the rest at evisors.com/webinars/webinar/75
    • Get the latest updates on upcoming webinars by following us: Register for live webinars and view all our recordings at: www.evisors.com/webinars facebook.com/Evisors twitter.com/Evisors pinterest.com/Evisors linkedin.com/company/Evisors Hosted by:See the rest at evisors.com/webinars/webinar/75