Lean marketing  -  Simple Guide to Testing Your Marketing Initiatives before scale
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Lean marketing - Simple Guide to Testing Your Marketing Initiatives before scale

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Lean marketing: Simple Guide to Testing Your Marketing Initiatives before scale

Lean marketing: Simple Guide to Testing Your Marketing Initiatives before scale

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  • After few ideas and brainstorms, agency involvement we quickly document a beautiful business/marketing plan that will build this…
  • When we should of started with the “minimum variable product” - the minimum feature set we need to ‘test’ our product or communication material/concept.
  • By going out and testing with early adopters we start to build the right features of our communication model for cross the chasm towards the mainstream market (ie Early Majority and Late Majority)
  • We are using this group to test nudgeFX and run experiments. Key thing is price modeling and user experience. We getting feedback not from general public but from committed “enthusiast” or extreme users. Some of the runners have 3 shoes, know how long each will last, when to use what etc
  • This is an learn startup tool used to provide a structure for understanding what is happening and impact of their activity (ie experiements)

Transcript

  • 1. Lean marketing Applying Lean Start thinking to Corporate Marketing
  • 2. What is Lean Startup? Is an iterative process to reduce risk in searching for a right business model based on validated learning.
  • 3. What is Lean Startup? Is an iterative process to reduce risk in searching for a right business model based on validated learning.
  • 4. We often build this from the start (with features galore)…
  • 5. When we should of build just this first and learn…
  • 6. until we find the right marketing features
  • 7. So, what is Lean Marketing? Its like…
  • 8. So, what is Lean Marketing? Lean startup with a twist…
  • 9. Remember Lean Startup is… Is an iterative process to reduce risk in searching for a right business model based on validated learning.
  • 10. Lean Marketing is... An iterative process to reduce risk in searching for a right communication model based on validated learning.
  • 11. Its about search for the right marketing plan based on grounded learning From a corporate perspective…. its simply about testing different channels with a small budget, measure the conversion rate and reinvest into the ones that perform well.
  • 12. Doing things in reverse • Typically with marketing campaigns, we start first with preparing a detailed marketing plan (spending week, months) with the assumptions around results we will get. • With lean marketing it’s about getting results quickly (using small experiments) to you help define the marketing plan – just like Lean Startup. • So its more like the reverse, you get results than plan, rather than plan and than get results • Best quote is from Jim Ewel, (a guru on agile marketing). He puts it simply: ”Too many traditional marketers plan big campaigns, spend big bucks, only to search at the end for favorable data to justify all that money spent"
  • 13. Corporate marketing We often build product (or communication) offers based assumptions of sterile insight given by our agencies.
  • 14. Crossing the chasm of marketing mainstream market demands fundamentally different marketing strategy Crossing the Chasm by Geoffrey Moore
  • 15. The idea is to avoiding pre-mature scaling of any marketing initiatives. • Low documentation • Low budget spend • High experimentation • A focus on validated learning (rather opinions) • Rapid iteration before taking it to scale
  • 16. Lean marketing framework Customer discovery Build Measure Learn
  • 17. Let’s review a real (my own) example “From students to property agents” www.spaceble.com
  • 18. Steps to lean marketing Using your business model canvas you should be able to: 1. Define your target early adopter customers and top assumptions on what media they consume? 2. Brainstorm a series of ideas on possible “marketing campaign experiments” to test your assumptions? 3. Run experiments with few early adopter customers & ask why they responded to your marketing campaign 4. Iterate your marketing experiments based on validated learning and metrics 5. Prepare your marketing plan for scale
  • 19. There are a lot of tools to make this process easy (very easy) www.optimizely.comwww.pickfu.com
  • 20. Powerade Sports women – Business Model Canvas Key Partners •Sydney Harbour Runners - running community •Danielle Warby - advocate for women in sport in Sydney •Jen Dugard - personal trainer for mums in Sydney Key Activities •Identify early adopters •Create engagement material (i.e. 1 paper who you are, what you are trying to do, position not “selling”) •Contact and meet early adopters (ie build relationship) •Create marketing material to engage with •Check with legal Value Propositions •Need to be properly rehydrated •Taste good •Easy to drink (ie no mixing) •Easy to carry in bag etc •Makes segment look good/smart when using Customer Relationships •Engaging material tailored to segment •Feel special important when being engaged •Dedicated access to brand manger •Exclusive access to goodies and product Customer Segments •Female runners •Committed female athletes •Mum seeking to become fitter (i.e. just had a child) Key Resources •Powerade bottles •Sample drinks •Landing page Channels Face to face at club session Accessing their Facebook and communication channels (ie twitter, blog review/story) (ie consider different phases awareness - why is a problem, cost of that problem, research phase, purchase phase, delivery of product, after purchase/use) Cost Structure • Transport • Goodies • Marketing and tools (ie http://www.pickfu.com, www.strikingly.com) Revenue Streams •Purchase of drink •Sign ups
  • 21. • Running community started in 1st october 2013 (non-for-profit) • Every Tuesday night from 6pm • 3 choices: short, long and tech with Landmarks locations and free • Connect with running events and communities • 600+ members, 50 “active” runners per night Club support each other to train smart and learn from the best to become better runners and attracts committed people. ultra-marathon athlete,
  • 22. Danielle Warby is an advocate for women in sport and has been working to promote women’s sport since 2006. • Over 3000 followers • Advocate for Women in Sport • Has youtube channel • Work with Rebel • Connected with sports community
  • 23. • Specialising in prenatal training and postnatal rebuilding • Appeared as an expert on the Blackmore's Well-being Blog, The Busy Mums Fitness Club and newbornbaby.com.au • 500 followers on Twitter, 1800 Facebook likes Jen Dugard, Director and Founder of Body Beyond Baby and Tough Mums
  • 24. 1. Find early adopters 2. Understand your key metric(s) 3. Get out of the building 4. Run experiments and learn Lets summarise what we learnt….its four simple rules to remember: FUGR
  • 25. Its about using right metrics to see if things are working Pirate metrics: AARRR!
  • 26. Who are they? • What do you do in a day? • What other products do you use? • What kind of a person are you? • What do you love? Hate? • What sites/pubs/newsletters do you read? • What events do you attend? • When do you do your email? • Who do you look up to? How they view the market? • Who/What do we compete with? • If we didn’t exist, what would you use? Describe what we do. • How do you measure the value we provide? • How do you describe the benefit of what we do? • What market are we in? How do you they buy? • How did you know you needed something like our solution? What triggered your search for a solution? • Was there anything that would have stopped you from making the purchase? • Did you make a short list? • Who else was on it? • What were your short list and purchase criteria? • Did you do research before you bought? Where? • Did you talk to anyone before your decision to buy? • Who else was involved in the purchase? How? Customer discovery questions Source: http://www.slideshare.net/ShivShankarMS1/start-up-marketing-getting-first-100-customers-on-board?sf3716288=1