StartX Marketing Basics
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StartX Marketing Basics

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A comprehensive deck on startup marketing basics delivered to StartX Summer Session 2011.

A comprehensive deck on startup marketing basics delivered to StartX Summer Session 2011.

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StartX Marketing Basics StartX Marketing Basics Presentation Transcript

  • Startx marketing workshop
    Adam rodnitzky– retel technologies
  • My marketing background
    From tiny startups…
    …to the world’s biggest firms.
    …to growth-stage companies…
  • The slide I put into every presentation about marketing!
    Marketing Isn’t Only Advertising
    Advertising Is Just One Small (Fun) Part Of Marketing
  • Startup marketing tasks to focus on now
    Startup marketing should be focused on these FOUR things:
    Who are your customers/users?
    How and where do they find out about new products/services?
    What is their mass desire that your product will satisfy?
    Once they use your product, do they like it enough to recommend it to others?
    Focus on these four things for now. Nail them, and the rest is easy.
    Later, if you’re successful, you can do fun stuff like advertising.
  • Discovering your customers/users
    Practical steps:
    Look at your competitors and figure out who they market to
    Survey potential users
    My favorite open source survey program: LimeSurvey
    Think broadly about how many distinct customers/users you may have. It’s almost always more than one type.
    Example – Kitchit: Three distinct groups of customers
    People who want to throw dinner parties
    Chefs
    Suppliers to chefs
    NOTE: One should dominate, but the rest can’t be ignored
  • Discovering How they discover new stuff
    Practical steps:
    Look at where your competitors advertise
    Look at what communities/venues your competitors participate in (ie, LinkedIn groups)
    Find any online communities where customers congregate and discuss
    Vertically-focused blogs/communities
    Traditional media (magazines, newspapers, etc)
    Survey potential customers
    Lightweight testing of different acquisition channels for impact
    Unpaid: User referral, communities (reddit, HN), blogging/content marketing
    Paid: SEM, sponsored bloggers, PR etc
  • DISCOVer your market’s mass desire
    Useful concepts for understanding your market’s mass desire:
    Products don’t create markets; mass desires do
    Product/market fit should more accurately be described as product/desire fit.
    If the desire your product satisfies is weak, then so is your market. That means fewer customers and fewer $.
    The extent to which you focus on the mass desire when positioning/messaging your product depends on what competitors already exist.
    No competitors = no market awareness = focus on the mass desire versus your product.
    Competitors = market awareness = focus on why your product satisfies the mass desire better than the competitors.
  • Discover your market’s mass desire
    • Mass desires are often tied to a basic human emotion
    • 1. Fear (strongest)
    • What will happen to me if I don’t have product X?
    • 2. Greed
    • What’s in it for me if I get product X?
    • 3. Vanity
    • What will people think of me if I have product X?
    • 4. Exclusivity (weakest)
    • What special clique can I be associated with because I’ve got product X?
    • You can only focus on ONE of the above
    • However, there may be a primary and secondary emotional state
    • Once you understand the mass desire, your messaging and marketing strategy follows
  • A more basic approach: Vitamins versus painkillers
    Vitamins are a NICE-TO-HAVE
    Painkillers are a MUST HAVE
    This has a HUGE impact on
    how your market relates toyour product
  • Discovering if customers like your product
    • Net Promoter Score
    • The Question: On ascale of 1-10, howlikely would you beto refer our productto a friend?
    • Survey.io
    • The question: If you couldn’t use our product tomorrow, how would you feel?
  • 7 quick Marketing hacks for startups
    • Hack One: Use AdWords to test features, messaging and target markets.
    • Your ads don’t have to go anywhere in particular. Just A/B test effectively and track precisely.
    • Hack Two: Put features in your UI before they’re ready and see what user response is
    • See what people click, and let them opt-in to receive notification if the feature goes live. Voila: instant conversion funnel for a new feature (site->page->opt-in).
    • Hack Three: Create linkbait content laced with keywords to encourage inbound links that boost your SEO
    • Blog posts, infographics, etc. work very well for this.
    • Hack Four: Put the URL for your startup on your profile for social networks and post incessantly
    • LinkedIn, Quora, Namesake, G+ will often make them hyperlinks.
    • Hack Five: @Reply to Twitter users that your target markets follow to get them to follow you
    • Often results in their followers following you too – easy way to build a base of followers
    • Hack Six: Create a custom landing page for your startup’s Facebook page to ensure conversion
    • Worst thing to do? Let your wall be where people land. This is a landing page like any other.
    • Hack Seven: Test free/low cost incentives to see what impacts user acquisition
    • Personal URLs, early beta access, early adopter status, stickers, etc.
    • Tie this to a goal the customer needs to achieve to earn the incentive (ie, get 3 others to sign up)
    • Be aware that incentives can, however, alter human behavior to be unnatural