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.

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)

Transcript

  • 1. The 4Ps of MarketingFor Lean Startups http://www.flickr.com/photos/horrigans/5898339783/sizes/l/in/photostream/
  • 2. A BIT ABOUT ME…• STARTUP FOUNDER• MENTOR• I AM A RUNNER
  • 3. Lean StartupCustomer Validation | Minimal Viable Product | Fail Early & Often
  • 4. A Lean StartupFounded in 2007 | Revenues: $247M | Valuation: $10Bn
  • 5. Do the 4 Ps Of Marketing apply to lean startups? http://www.flickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/
  • 6. A lot haschangedsince 1950s http://www.flickr.com/photos/liloueve/4464938781/sizes/l/in/photostream
  • 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. ProductMost important item on the list Taken from www.apple.com
  • 9. PriceGet this right as a bad price will hurt! http://www.flickr.com/photos/joeshlabotnik/7174686540/sizes/l/in/photostream/
  • 10. PromotionNo longer about “As Seen on TV”… http://www.flickr.com/photos/seanbonner/3325716451/sizes/o/in/photostream/
  • 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. The Marketing PlaybookFor Lean Startups http://www.flickr.com/photos/marada/6039505049/sizes/l/in/photostream/
  • 13. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
  • 14. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Acquisition
  • 15. Consumers have lots of choice
  • 16. http://smithery.co/making/make-things-people-want-make-people-want-things/attachment/make-things-people-want/
  • 17. Make People Want Things A major disaster in 1985 for an such an iconic brandhttp://www.diamondcokecans.com/CocaColaCans/
  • 18. Make Things People Want Apple demonstrates this consistently across all products.http://www.flickr.com/photos/frijole/3301689810/sizes/l/in/photostream/
  • 19. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
  • 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. 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. 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. Focus on the users‟ perceived value (not yours)http://www.flickr.com/photos/albertovo5/5088378900/sizes/l/in/photostream/
  • 24. Often this means eliminating the cool features that don‟t matter to the end user.
  • 25. Your Phone & Music In One.
  • 26. A very loyal customer base
  • 27. Some more loyal than others!
  • 28. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
  • 29. Focus on delivering great customer experiences.
  • 30. Listen why customers love (or hate) your product.
  • 31. Awareness campaigns are a waste of money for startups.
  • 32. Investing in awarenesscampaigns too early cantake you the wrong way
  • 33. #1 – Make Things People Want#2 – Build a Loyal Following#3 – Experience vs. Awareness#4 – Customer Acquisition
  • 34. Implement the business model that allows you to profitably acquire the most users.
  • 35. For some startups, place is more than a physical location.
  • 36. Place can be launching through an „App Store‟
  • 37. PrivateBeta Launch
  • 38. Test messages for key target markets
  • 39. Word of Mouth
  • 40. Does your product benefit from a network effect?
  • 41. Does your product value to one user depend on how many other users there are in total?
  • 42. A few examples where size of the network is important
  • 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. Focus on metrics thatmatter
  • 45. For most startups, it ismeasuring:1. Acquisition2. Activation3. Retention4. Referral5. Revenue
  • 46. Lots of affordable services and tools
  • 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. Most startups fail because the founders give up http://www.flickr.com/photos/kcnickerson/1008563510/
  • 49. Hard Work Pays Off…So Don‟t Give Up!
  • 50. Do the 4 Ps Of Marketing apply to lean startups? http://www.flickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/
  • 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.