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Frugal Marketing Workshop TiE
 

Frugal Marketing Workshop TiE

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Marketing Workshop conducted for TiE members in October 2009, Bangalore.

Marketing Workshop conducted for TiE members in October 2009, Bangalore.

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    Frugal Marketing Workshop TiE Frugal Marketing Workshop TiE Presentation Transcript

    • Frugal Marketing For Startups October 22, 2009 Jessie Paul
    • When is frugal marketing required? 1. New business model challengers 2. Old model, new market challengers high high low low Relative Marketshare Relative Growth Rate Mature Champions Laggards Challengers Upstart brands take on brands that are larger, more established than themselves
    • Section 1: Conceptual Framework Building Your Brand Architecture
    • Think Narrow
      • This allows you to operate without mass media
      • Enables focused offerings
      • One-to-one communication is possible
      • You can own a superlative - first/largest/only - in a smaller space
      www.nomoneymarketing.org
    • Defining Your Brand
      • WHO AM I?
      • WHY BUY ME?
      • WHY NOT BUY SOMEONE ELSE?
    • Cheese or Mousetrap? Core or Surround? People Delivery Facilities Price Country of origin Executive Management Vision Corporate Governance SURROUND Delivery Process Business Benefits Quality CORE Photo Credit: Rennett Stowe
    • Core vs Surround Branding Input Elements Core Service Attributes Output Impact People Elements that are directly related to service performance Service Delivery Process Delivery Facilities Price Country of origin Executive Management Vision Corporate Governance Environment Community Investor Returns Business Benefits Industry Development Surround Surround Core Quality No Money Marketing , Jessie Paul, Tata McGraw-Hill
    • VALUE ADDERS – CUSTOMER BENEFITS Reliability Cost savings Increased efficiency/ speed Ability to identify &/ capture new business opportunities DIFFERENTIATORS Business Optimization thro business analytics & domain knowledge TABLE STAKES SATISFICERS Physical & Data Security, Infrastructure WHO AM I? WHY BUY ME? WHY NOT BUY SOMEONE ELSE?
      • Infrastructure:
        • Telecom
        • Facilities
      • People:
        • Domain experts
        • Process experts
      • Framework/ Methodologies:
        • For process optimization
        • Process management
        • Process quality
    • Section 2: Why the Flat World Matters Determining Your Eco-system
    • Flat World Trends 1. 2. 3. The market is very small: You have a target audience of one 4. Advertising is free: But getting it is hard work Digitization, Globalization: People are buying things they cannot see The world is interconnected: Everyone is a journalist, opinion-maker and salesperson!
    • Marketing changes in the Flat World Individuals Interconnected Location-specific Location-independent Customers Access controlled Easily accessible At cost Free Information One way 2-way, interactive Lag Instantaneous Opt out Opt-in At cost Free Communication Old World Flat World No Money Marketing , Jessie Paul, Tata McGraw-Hill
    • Own your eco-system Industry Associations Analysts Consumer Reports Consulting Firms Sourcing Advisors Other Customers Journalists Expert Users Government Academics Internet Pundits Friends & Family Employees Salesperson Decision Maker
    • Section 3: Building Your Brand Determining the Levers and Brands
    • Leveraging resources for smart branding Thought Leadership PR Awards Online presence
      • Executive Branding
      • Pricing
      • Country of Origin
      • Sustainability
      Channels Levers
    • Executive Branding Create a brand blueprint Stars are created, not born Be accessible Have a point of view Be everywhere Spend your time generously Photo Credit Jurvetson MyBo Twitter YouTube Facebook LinkedIn MySpace Barack Obama
    • Price as a differentiator Pricing is about perceived value Use Extreme Pricing – Either Low-cost or Premium Consumers associate high prices with high quality Pricing depends on ability to experiment
    • Lever: Country of Origin You can CHOOSE your home country Does your “home” add value or detract? Have you invested in relationships at home? How much of national flavour is differentiating and not overbearing? www.nomoneymarketing.org
    • Sustainability WIPRO All other things being equal, consumers would prefer a “green” offering Regulations will drive greener practices Partners Community Customers Suppliers Employees Bio-diversity Waste Water Energy
    • Leveraging resources for smart branding Thought Leadership PR Awards Online presence
      • Executive Branding
      • Pricing
      • Country of Origin
      • Sustainability
      Channels Levers
    • Thought Leadership Analysts Customers Journalists Expert Users Employees Salesperson Thought Leadership Useful information on latest trends and how it affects them Door-opener to have a non-sales business discussion with a prospect Reassurance that their organization is on the cutting-edge Current developments that can trigger exclusive stories Information on how the latest trends can benefit their business Allows an intellectual dialogue on recent developments
    • PR Be contrarian Be different in the context Use controversies Personal touch Information is cheap. Insight is rare. Swiss Spaghetti Harvest BBC Panorama, April 1, 1957
    • Awards Awards add credibility Win awards Give awards
    • Online Media Everyone can be a broadcaster. Free. Build a hub-and-spoke model You can’t always “own”. Rent. Instant responses. Everyone can have an opinion. Trust is the differentiator. www.wipro.com Twitter YouTube Co-branded portal LinkedIn Second Life Wipro
    • Section 4: Conclusion Some tips and ideas for building the next superbrand
    • Channels: Build vs Buy
      • Customize mass-media to be more narrow eg “power-jackets”, IP-based targeting
      • Negotiate your own packages
      • Operate with a “mall-and-mainstreet” approach to online media
      • Create your own customer community
      • Institute an award
      www.nomoneymarketing.org
      • Globally distribute the marketing team
      • Move work to where it is done best
      • Consider “unusual” markets
      Think Global www.nomoneymarketing.org
    • Think Interesting
      • Information is cheap, insight is rare
      • The cardinal sin in today’s world is to be boring
      • Do innovative stuff and you will get a disproportionate share of buzz
      Source:http://scrapetv.com/News/News%20Pages/Business/Pages/Microsoft%20mulls%20name%20change%20to%20Megahard.html www.nomoneymarketing.org
    • 5 Tips for Frugal Marketing Create Your Own Marketing Channels Insights vs Information Go Online Own the Eco-system Define your Audience Narrowly 1 2 3 4 5
      • www.nomoneymarketing.org
      • www.jessiepaul.com
      • www.twitter.com/jessie_paul
      • [email_address]
      • [email_address]