Example of SRK in Swades – when he introduces what he does for weather monitoring satellites.
Marketing for start-ups Feb4 2012@IIMB Rakesh Godhwani www.plunnge.com
Lets play a game….What comes to your mind• Mobile app• Tablet• Cold drink• Consulting• Mcommerce• SetTopBox• Used Car• Search• School• Cloud• Lagaan
Can you relate to this• Think Different • Apple Mcintosh• Play the game • BusinessWorld• Born tough • CEAT• Thanda matlab• The power of dreams • Coca-cola• We make things that make • Honda india proud • L&T• Life’s good • LG• Emotionally yours • Sahara
Answer this• What did you eat for dinner on July 4th 2011• Who were the sponsors of “Rakhi ka swayamvar”• What was so special on – Feb 2nd 2012• Which is the best restaurant in Bangalore
How to get through the crowded and confused mind ?
What is Marketing• The goal of marketing – to find a customer who is willing to buy• Marketing is the language that makes a customer understand about the product/offering so that he can then decide to buy
Some of my opinions about start-ups• Marketing is the most ignored discipline in a start-up – especially in India• Most start-ups outsource this work• Majority of entrepreneurs are left-brained and hence think marketing requires a creative right-brained person• Ask a start-up about what they do – and they will tell you a Ramayana in a language you don’t understand• After all – start-ups love their product and believe that the product will attract customers and will sell like hot cakes all by itself
The Marketing Mix• Product - Customer solution• Price - Customer cost• Place - Convenience• Promotion – Communication• A customer asks the following – What is it – How much is it – Where can I get it
1. What is the need of your product• Make a very simple “1 liner” about what your product does. Even your grandmother should be able to understand it• Put yourself in the shoes of the customer when you say it – does it help him• Use plain words. Avoid jargon• Be passionate. It should raise your hair every time you hear it
3. Identify your customer and market• Visualize what he looks like• How he thinks• How he lives, eats• How he decides to buy something• What is his background• What language he speaks• What are his likes/dislikes• Where are they clustered• How they move/behave etc
4.Identify a language to communicate• Brochure• Website• Collaterals• PPTs• Literature• Case study• Video• Testimonials
6. Don’t be shy• Drum your company/product as much as you can – even when you are having dinners• Avoid the usual mistakes - invest a lot on brand creation before product is ready etc.• Visit as many colleges and speak. If you are not invited, that means noone knows you• Write (not blog) in those publications that people read• But do it in style – don’t slobber people