Creating & Implementing a Web 2.0 Marketing Plan (Sean Ellis, Startonomics SF 2008)

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    Creating & Implementing a Web 2.0 Marketing Plan (Sean Ellis, Startonomics SF 2008) - Presentation Transcript

    1. Web 2.0 Startup Marketing Plan Planning for the Most Important Marketing Execution in the Life of Your Startup Sean Ellis Go To Market Advisor for Startups Email: sean (at) startup-marketing.com Blog: Startup-Marketing.com
    2. This Plan Has Evolved Over 5 Startups Startup-Marketing.com And it’s a work in progress that will continue to evolve. Startup When My Role Description Stage Uproar 1996 - 2001 VP Marketing Leader Online Games NASDAQ IPO in 2000, Acquired by Vivendi Universal LogMeIn 2003 - 2008 VP Marketing Leader Remote PC Access Filed for NASDAQ IPO in Jan 2008 Xobni Jan 2008 - Current VP Marketing Interim, Advisor Leader Email Contact Profiles VC (A) – Khosla Ventures, FRC Eventbrite Aug 2008 - Current Go To Market Advisor Event management VC (A) – European Founders’ Fund Dropbox Sep 2008 - Current Go To Market Advisor Virtual Drive VC (seed) - Sequoia
    3. Format is Like Most Marketing Plans 1) Situation Analysis: Discover Users & Metrics 3) Projections: Budget, Team, Sales 2) Marketing Strategy: Sync across company Startup-Marketing.com But early stage startups require more discovery and experimentation
    4. Situation Analysis: Check Assumptions Discovery - Interview/survey prospects frequently to validate or refine assumptions. Startup-Marketing.com Solutions Comparison Problem Message That Motivates Target Users with $
    5. Situation Analysis: Key Metrics
      • Most important metrics  Allowable Acquisition Cost
      Lifetime Value Allowable Acq. Cost
      • Other important metrics
        • Source data
        • Visit-to-registration rate
          • (Or visit to download rate)
        • Registration-to-trial rate
        • Trial-to-transaction rate
        • Average transaction size
        • Transactions per customer
        • Months per subscriber
      Lifetime value must exceed acquisition cost Startup-Marketing.com
    6. Strategy: Get Free Users Early
      • Start early with free marketing channels
      • SEO (self), blog, beta sites, etc.
      • Develop viral features
      Acquiring users for free is definitely within the allowable acquisition cost Early user flow essential for discovery and optimization. Startup-Marketing.com
    7. Strategy: Optimize Biz Economics Increase size and frequency of transactions 30% 8%
      • Increase funnel conversion rates
      • Visit-to-trials
      • Trial-to-transaction
      • Expands viable paid marketing options
        • Reduces adoption barriers
        • Increases allowable acquisition costs
      Startup-Marketing.com
    8. Strategy: Now Start Testing Paid Channels
      • Test paid channels and optimize individual funnels
      • PR : Great for “innovators”
      • Demand harvesting channels (great for “disruptors”)
        • Create unique onramps for each usage and user type
        • SEM, directories
      • Demand creation last (challenging and expensive)
        • Get ideas by monitoring competitors and overall trends
        • Widgets, webcasts, sponsorships, banners, radio, trade shows
      Test user acquisition channels most likely to have easy, positive ROI first (start with lowest hanging fruit ) Startup-Marketing.com
    9. Strategy: Demand Creation Sequence
      • For demand creation, start with target that is motivated to try and buy solution as is
      • Synchronize targets with sales and product teams
      Startup-Marketing.com Target Message New feature needed Begin targeting Market Segment 1 Message 1 N/A Start Oct 2008 Market Segment 2 Message 2 Feature 1 Start Feb 2009 Market Segment 3 Message 3 Feature 2 Start May 2009
    10. Strategy: Dave’s Recommended Channels Dave McClure has some great slides on acquisition channels worth revisiting. Startup-Marketing.com
    11. Dave’s Other Great Slide on Channels
    12. Projections: Planning Budget
      • Start Spending to Discover and Optimize
        • Start with many small test buys
        • Optimize or cut money losers
      • Later focus most budget on proven ROI campaigns
      But reserve at least 20% of budget for tests each month. Startup-Marketing.com
    13. Projections: Budget For Max ROI Spend
      • Budget for highest realistic positive ROI spend
        • Spend below budget if not enough testing opportunities and scalability in proven channels
        • Scale beyond budget if proven channels can scale beyond current budget
      During planning, agree with CEO on process for increasing budget and need for flexibility Startup-Marketing.com
    14. Projections: Hire for Faster Testing
      • Hire to increase velocity of tests
      • Hire to fill bottlenecks that slow testing
        • Early marketing roles to consider:
          • Marketing Web Designer
          • Copywriter
          • Marketing Data Analyst
          • Marketing Database Analyst
          • SEM specialist
          • Product Marketing Director
      Don’t try to hire someone to “figure things out” Startup-Marketing.com
    15. Projections: User/Sales Growth
      • Build initial user/sales growth projections based on planned budget and metric assumptions.
        • Initial projections are always inaccurate because no historical data to model.
      Predictable growth begins when 80% of budget focused on proven ROI campaigns Startup-Marketing.com
    16. What to Take Away
      • Discover who needs it and why
      • Track your key metrics early
      • Optimize business economics early
      • Micro test customer acquisition channels
      Sean Ellis Go To Market Advisor for Startups Email: sean (at) startup-marketing.com Startup-Marketing.com

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