Marketing for Lean Startups

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Presentation for a Fredericton High School Marketing class. Asking the question is the 4 Ps of Marketing apply for Lean Startup.

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  • Drew Houston conceived the idea after repeatedly forgetting his USB flash drive He was a student at MITFounded Dropbox in 2007 Launched in 2008Freemium Model: Upgrades & ReferralsRevenues: $240-million (est)Valuation: $10-Billion (est)
  • Marketing for Lean Startups

    1. 1. The 4Ps of MarketingFor Lean Startups http://www.flickr.com/photos/horrigans/5898339783/sizes/l/in/photostream/
    2. 2. A BIT ABOUT ME…• STARTUP FOUNDER• MENTOR• I AM A RUNNER
    3. 3. Lean StartupCustomer Validation | Minimal Viable Product | Fail Early & Often
    4. 4. A Lean StartupFounded in 2007 | Revenues: $247M | Valuation: $10Bn
    5. 5. Do the 4 Ps Of Marketing apply to lean startups? http://www.flickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/
    6. 6. A lot haschangedsince 1950s http://www.flickr.com/photos/liloueve/4464938781/sizes/l/in/photostream
    7. 7. Has a marketing strategy?Do the 4 Ps from the 1950s still apply in 2012? http://www.flickr.com/photos/ms_cwang/4163569540/sizes/z/in/photostream/
    8. 8. ProductMost important item on the list Taken from www.apple.com
    9. 9. PriceGet this right as a bad price will hurt! http://www.flickr.com/photos/joeshlabotnik/7174686540/sizes/l/in/photostream/
    10. 10. PromotionNo longer about “As Seen on TV”… http://www.flickr.com/photos/seanbonner/3325716451/sizes/o/in/photostream/
    11. 11. http://www.flickr.com/photos/12905355@N05/6459781271/sizes/l/in/photostream/ PlaceNot as important as it once was (at least for most)
    12. 12. The Marketing PlaybookFor Lean Startups http://www.flickr.com/photos/marada/6039505049/sizes/l/in/photostream/
    13. 13. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
    14. 14. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Acquisition
    15. 15. Consumers have lots of choice
    16. 16. http://smithery.co/making/make-things-people-want-make-people-want-things/attachment/make-things-people-want/
    17. 17. Make People Want Things A major disaster in 1985 for an such an iconic brandhttp://www.diamondcokecans.com/CocaColaCans/
    18. 18. Make Things People Want Apple demonstrates this consistently across all products.http://www.flickr.com/photos/frijole/3301689810/sizes/l/in/photostream/
    19. 19. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
    20. 20. http://www.flickr.com/photos/chris_gin/2393917106/sizes/l/in/photostream/Think of early users as a flock of sheep. They always finds the best grass.
    21. 21. Most products have a few who consider it a must have. They are the keys to success.http://www.flickr.com/photos/ph-stop/3101407532/sizes/l/in/photostream/
    22. 22. http://www.flickr.com/photos/foxypar4/1852428153/sizes/l/in/photostream/Listen for a signal about who loves your product, and why as soon as you release.
    23. 23. Focus on the users‟ perceived value (not yours)http://www.flickr.com/photos/albertovo5/5088378900/sizes/l/in/photostream/
    24. 24. Often this means eliminating the cool features that don‟t matter to the end user.
    25. 25. Your Phone & Music In One.
    26. 26. A very loyal customer base
    27. 27. Some more loyal than others!
    28. 28. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
    29. 29. Focus on delivering great customer experiences.
    30. 30. Listen why customers love (or hate) your product.
    31. 31. Awareness campaigns are a waste of money for startups.
    32. 32. Investing in awarenesscampaigns too early cantake you the wrong way
    33. 33. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
    34. 34. Implement the business model that allows you to profitably acquire the most users.
    35. 35. For some startups, place is more than a physical location.
    36. 36. Place can be launching through an „App Store‟
    37. 37. PrivateBeta Launch
    38. 38. Test messages for key target markets
    39. 39. Word of Mouth
    40. 40. Does your product benefit from a network effect?
    41. 41. Does your product value to one user depend on how many other users there are in total?
    42. 42. A few examples where size of the network is important
    43. 43. Knowing when to hit the gas pedal is key.Scaling awareness too quickly can spell disaster http://www.flickr.com/photos/lanier67/4047779644/sizes/l/in/photostream/
    44. 44. Focus on metrics thatmatter
    45. 45. For most startups, it ismeasuring:1. Acquisition2. Activation3. Retention4. Referral5. Revenue
    46. 46. Lots of affordable services and tools
    47. 47. Balancing ActMost successful entrepreneurs have a good balance of execution intuition and luck. http://www.flickr.com/photos/classblog/5136926303/sizes/l/in/photostream/
    48. 48. Most startups fail because the founders give up http://www.flickr.com/photos/kcnickerson/1008563510/
    49. 49. Hard Work Pays Off…So Don‟t Give Up!
    50. 50. Do the 4 Ps Of Marketing apply to lean startups? http://www.flickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/
    51. 51. Contact Me: E-Mail: jthompson@about.me Twitter: @thomjeffSome of the photographs in this presentation were retrieved from Flickr and made available under a Creative Commonslicense. Please refer to each photograph for a link to the image source.

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