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Startup Marketing Basics

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Presentation on Startup Marketing Basics Prepared For SSE Labs Summer 2010.

Presentation on Startup Marketing Basics Prepared For SSE Labs Summer 2010.

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  • 1. SSE Labs
    Startup Marketing Basics
    Adam Rodnitzky
    CMO, ReTel Technologies
  • 2. What Marketing Isn’t
    Marketing Isn’tOnly Advertising
    Advertising Is A Part Of Marketing
  • 3. What Marketing Is
    1. Discovering Core Needs In A Particular Market
    1I. Learning To Engage With Users/ Customers Who Have The Need
    Marketing Lifecycle
    III. Experiment To Engage More Users/ Customers With The Need
    IV. Working To Grow & Retain Users/ Customers Over Time
  • 4. Basic Marketing Concepts
    The 4 P’s
    Price How much does it cost?
    Product What are the features/benefits?
    Promotion How do customers hear about it?
    Place Where can customers buy it?
    The 3 C’s
    Company What makes us different/better?
    CompetitionWhat makes them a threat?
    Customers Who are they, why will they care?
  • 5. What Marketing Is
    1. Discovering Core Needs In A Particular Market
    1I. Learning To Engage With Users/ Customers Who Have The Need
    Marketing Lifecycle
    III. Experiment To Engage More Users/ Customers With The Need
    IV. Working To Grow & Retain Users/ Customers Over Time
  • 6. Discovering Core Needs
    Know Your Customers
    Who Are They? | What Is Their Need? | How Is It Served Now?Do They Pay For It?
    1I. Methods
    Surveys
    Competitive Review
    Vertical Forums
    SEM & A/B Testing
    1V. Interpretation
    Intellectual Honesty
    Long Tail Feedback
    Aspirin Vs. Vitamin
    Statistical Relevance
    Gut Instinct
    1II. Tools
    LimeSurvey
    Google Suite (AdWords, Analytics)
    V. Your End Goal:
    Build Something People Want To Buy Based On What They Say, Not What You Think
  • 7. Discovering Core Needs – Tip
    Surveying is powerful when done right.
    Avoid leading questions.
    Bad: How happy would you be if you had my product?
    Good: On a scale of 1-10, with 1 being unhappy and 10 being very happy, how do you think this product would make you feel?
  • 8. Learning To Engage
    Know Your Customers
    What Are Their Channels For Learning And/Or Buying? | How/When Do They Buy, & Who Decides? | What Happens Next?
    1I. Methods
    Surveys
    Competitive Review
    Low-Cost Media Tests
    Social Media
    SEM & A/B Testing
    1V. Interpretation
    Intellectual Honesty
    Long Tail
    Statistical Relevance
    Gut Instinct
    1II. Tools
    LimeSurvey
    Google Suite (Add Optimizer)
    Social Media
    Email
    WOM/Referral Tools
    V. Your End Goal:
    Understand How & Where Customers/Users Learn About & Acquire Products Like Yours
  • 9. Learning To Engage – Tip
    AdWords ads don’t have to advertise products.
    Use them for market research!
    Example 1 Headline: Lower Your Bills By 10%
    Example II Headline: Organize Your Bills Online
    Example III Headline: Stop Paying Late Bill Fees
  • 10. Experimenting To Engage More
    Know Your Channels & Users
    How Do You Test? | What Can You Test? | Which Variables Can You Isolate? Early Adopters Vs. Mainstream?
    1I. Methods
    A/B Test As Much As Possible!
    • Promotion: Message, Channel, Frequency, Target
    • 11. Product: Features, Pricing, Bundling, False Features
    • 12. Other: Virality Tools, Partnerships, Etc
    III. Tools
    Google Suite
    Customer Use Logs
    Virality Tools
    IV. Your End Goal:
    Kaizen To Build Scalable, Repeatable Customer Acquisition & Retention
  • 13. Experimenting To Engage – Tip
    Want to test market response to new features?
    Add it to your UI as if it were real.
    Let people opt in to receive more info
    Analyze response like a conversion funnel
    Make your decision based on customer behavior
  • 14. Growing & Retaining Customers
    Growth & Retention Questions
    What Do Users Love Most? | How Do You Message That? How Do You Expand On That? | How Do You Help Users Market?What Happens When Love Dies (Churn)?
    1I. Methods
    Feature Testing/False Features
    Feedback & Surveys
    Virality Tools
    Churn Analysis
    COA/LTV Analysis
    1V. Interpretation
    Intellectual Honesty
    Adopter Exclusion
    Statistical Relevance
    1II. Tools
    survey.io
    Net Promoter Score
    Your Product
    Customer Logs
    Virality Tools
    Spreadsheets 
    V. Your End Goal:
    Keep Your Users Happy, & Help Them Spend More Time (& Money) With You
  • 15. Growth & Retention – Tip
    Keeping Customers Is Often Cheaper Than Acquiring New Ones
    Pay Customers To Stay, & Understand Why They Wanted To Leave
    • Know COA
    • 16. Know LTV
    • 17. Pay Up To COA To Retain An Existing User - Once
  • Key Metrics & Tools
    • Customer Acquisition (COA)
    • 18. Cost Of Acquisition
    • 19. How Much Do You Spend To Acquire A Customer?
    • 20. Includes Cost Of Who You Didn’t Acquire
    • 21. Direct Costs & Indirect Allocated Costs
    • 22. Avg Revenue/User (ARPU) & Avg Transaction Value (ATV)
    • 23. Determine Your ATV & Unit (Time, Usage, Etc)
    • 24. How Many Units Do Users Typically Consume?
    • 25. Lifetime Value (LTV)
    • 26. ARPU x Average Lifespan Of User
    • 27. Churn Rate
    • 28. Compounded % Of Users Who Leave
    • 29. Understand Lost Revenue That Results From Churn
    • 30. You Can Pay Customers To Stay If It Makes $ Sense
  • Key Metrics & Tools
    • Conversion Funnels
    • 31. Can Start Online Or Offline
    • 32. Define Conversion Goal & Value
    • 33. Track Where Prospects Drop Off & A/B Test To Optimize
    • 34. Latency
    • 35. 100% – (Active Users/Total Users)
    • 36. Try To Engage LatentsTo Understand Latency
    • 37. Represents Huge Opportunity For Low-Cost Acquisition
    • 38. Lead Nurturing
    • 39. Your Customers Buy On Their Schedule, Not Yours
    • 40. Understand How To Keep Them Engaged (And Not Annoyed) So You’re Top Of Mind When They Want To Buy
  • Framework Recap
    1. Build What Users Say They Want, Not What You Think They Want
    1I. How & Where Users Purchase Products Like Yours
    Marketing Lifecycle
    III. Build Scalable, Repeatable Customer Acquisition
    IV. Help Customers Spend More Time & Money With You
  • 41. What Does A Total Marketing Program Look Like?

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