Startup Marketing: A Systems Approach

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This presentation talks about how you can address the 3 root causes of bad marketing: Not understanding what you do and don't know about your prospects, poor marketing execution and failure to measure, analyze and improve.

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Startup Marketing: A Systems Approach

  1. 1. Marketing: A SystemsApproachAddressing the Root Causes of BadMarketingApril Dunford@aprildunfordRocketScope.com
  2. 2. April DunfordAs a marketing exec: 5 startups: 4 launches, $1B revenue, $2B acquisitions 3 big companies: 2 product line launches, $3B revenue, 8 acquisitions (buy side)Co-Founder of RocketScope: Analyst/Researchfirm for marketing best practicesAdvisor, instructor, investor, coffee/beer drinker
  3. 3. What‟s an engineer like youdoing in a place like this?Step 1: I got a marketing jobStep 2: I attempted to train myselfStep 3: I learned everything the hard way
  4. 4. The Cycle of Marketing Meh Marketing Fashion Assessment* Remove Select “bad” tactics tactics Measure Execute* Where you look at what everyone else is doing
  5. 5. What‟s Wrong with This?1. What works for them might not work for you – Your market, offering, buying process is different2. Many companies suck at marketing – Just because they do it doesn‟t mean it works3. All tactics are created equal until tested – You can‟t afford that4. You don‟t know what you don‟t know – Why did failed tactics fail? – Are my “good” tactics the best tactics? – What other tactics should I try?5. No relationship or consistency between tactics – Does not take your buying process into account
  6. 6. Is it possible to modelgreat marketing like a system?
  7. 7. The 3 Root Causes of Bad MarketingNot Understanding what You Know andDon‟t Know about Your Customer – Who they are – How they think about your offering – How they buyPoor Marketing ExecutionFailure to Measure, Adjust and Improve
  8. 8. Inputs3 aspects of customer knowledge Who they are How they view solutions How they buy stuff
  9. 9. Customer WorksheetCompany Characteristics:Size, Industry, Geographic locationsProduct, Customers Ecosystem, Risk Tolerance, Growth, Regulatory EnvironmentDecision Makers:Characteristics demographics, education, skills, interests, motivations, goalsPain what drives them crazy or stops them from getting what they wantHow Can They Be Reached:Where do they gather Social networks, communities, associations/groups, eventsWhere they find out about stuff Search engines, word of mouth, peers, media outlets, blogs, experts, influencers/famous people
  10. 10. Offering Worksheet(Customer Perspective)What do we do?What market are we in?Competitive Alternatives:Examples: Do nothing, manual effort, Word/Excel, competitiveproductKey Differentiated Points of ValueWhen compared to the alternatives above the specific value youbring that the others don‟t.ProofCustomer references, 3rd party reviews, statistics, metrics, expertendorsements,
  11. 11. Buying ProcessIt‟s all good I know it I‟m looking I‟m making I‟m now I‟mhere. could be at how to a purchase. using (or renewing or better but solve this trying to re- I‟m not problem. use) what I purchasing doing bought. the solution anything about it. No Need Eval. Buy Enjoy Re-new Need
  12. 12. Buying ProcessAcceleratorsKnowing the Knowing the Knowing the Why Using and Knowing Icost of not Value of value of your purchase enjoy the can’t dosolving the solving the solution now? offering without theproblem problem offering No Need Eval. Buy Enjoy Re-new NeedCurrent Value not Not knowing I might Bad service, Decidedsolution good compelling how to change my Bad user there was noenough Risks too high evaluate mind experience need Great but not Too much $ Not using Move to for me other solutionFriction points
  13. 13. TacticsSelected 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
  14. 14. At the No Need, Need StagesWhat: Problem-focused Content/Programs, Infotainment – Videos (problem focused, non-demo) – Articles and blog posts – Infographics/Industry data/trend reports – Curated Content – Newsletters – SEO, Website, landing pages, content optimized around the problemWhere: Where the prospects already are – Forums, Social networks, newsgroups, industry events, associations, media, blogs, etc.Purpose: Entertain, Educate, EngageDesired Action: Permission to market to them – Social Media: Likes, follows – Email: Newsletter/blog signups
  15. 15. At the Evaluation and Buy StagesWhat: Solution Focused Content/Programs – Articles and blog posts – Demo Videos/interactive Demos – Webinars/ In-person events – Analyst reports – Case studies – Feature guides/whitepapers – ROI/pricing calculators – Advertising, Sponsorships – SEO, Website, landing pages, content optimized around the solutionWhere: Where the prospects are and Increasingly on Your Turf – Forums, Social networks, newsgroups, industry events, media, blogs, etc. – Your branded sites (website, Facebook page, etc.)Purpose: Educate, Differentiate, Move closer to Sale, Address FearDesired Action: Permission to “sell” – Contact information for sales (through content, events, etc.) – Free Trial – Purchase
  16. 16. At the Enjoy, Refer, Renew Stages• What: Activation/Engagement-oriented content/programs – Customer Support Content – Demo Videos/interactive Demos – How-to, Best Practice guides – User forums/User Groups – ROI/pricing calculators – Customer newsletters• Where: Mainly on Your Turf but also where they are – Your branded sites (website, Facebook page, etc.) – Customer Support portal/forum, – User group forums, events, etc. – Forums, Social networks, newsgroups, associations, media, blogs, etc.• Purpose: Get customers to experience the value, Create raving fans,• Desired Action: Referrals, Renewals – Act as a reference – Refer business – Renewal
  17. 17. OperationsPlans based on selected tactics Email marketing plan/process/calendar Paid traffic plan/process Content plan/calendar Social media plan/calendar Media/Influencer relations plan/calendarThe Big „ol Spreadsheet
  18. 18. Metrics How prospects are flowing through the buying process
  19. 19. Demand generation forecast example Social Paid media Organic search Events CampaignsContacts # # # # #MQL # # # # # [%] [%] [%] [%] [%]SQL # # # # # [%] [%] [%] [%] [%]SQO # # # # # [%] [%] [%] [%] [%]Closed Won # # # # # [%] [%] [%] [%] [%]Revenue $ $ $ $ $
  20. 20. Analysis What conclusions can you draw? How do these impact the inputs?
  21. 21. The Circle of Marketing Awesome Customer Offering Buying Process Inputs Conclusions Tactical Analysis Execution Project plans Outputs Metrics
  22. 22. Thanks! @aprildunford My Blog: RocketWatcher.comMy Company: RocketScope.com

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