Entrepreneuria l marketing


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Slides on the basics of entrepreneurial marketing. How it differs from conventional marketing and what you need to do to apply it in your own business

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Entrepreneuria l marketing

  1. 1. Entrepreneurial Marketing Dr Alan Rae – Chairman Fletching Glasshouses @alanrae Our Business is Making Your Business Grow Copyright Dr Alan Rae 2012
  2. 2. 3 things that trip up g p p accidental marketers • Not being strategic • Not talking to people collaboratively • Not creating a good story and telling it often enough in th right places ft h i the i ht l Copyright Dr Alan Rae 2013
  3. 3. Sun Tzu says in The art of War Know yourself Know your enemy Know the terrain in which you will engage g g To which I would add Know your customers K t Copyright Dr Alan Rae 2012
  4. 4. Know the terrain Copyright Dr Alan Rae 2013
  5. 5. Market Structure – which world are you in? Markets end up with a Gorilla, 2 or 3 Chimps and lots of monkeys. The Monkey’s World e o ey s o d Entrepreneurial Marketing The Gorilla s World Gorilla’s Corporate Marketing • • • • Supply chain heads dictate the terms E-procurement cuts costs You have to dance to their tune Progressively the hurdles get higher and the money gets less • Firms go out of business • The industry consolidates • Collaboration to build an offer • Being known for what you do is critical Having a clear story Being able to Deliver Doing what you say Getting back quickly • Gets the results you want Copyright Dr Alan Rae 2013
  6. 6. Be Specific • Clarity is everything • You need to target a niche you can g dominate that recognises itself • It has to be big enough t support you h t b bi h to t Copyright Dr Alan Rae 2013
  7. 7. What it’s not • Airy notions that going after 0.5% of a massive market will make us rich. Copyright Dr Alan Rae 2013
  8. 8. Why this is important • Diffuse messages do se use essages don’t sell • If you address “Trainers, Coaches, p p Entrepreneurs and Business People” they’ll all thing this isn’t really for me • Targeting Blind people going to University is better than getting 1% of all the visually impaired people in the UK Copyright Dr Alan Rae 2013
  9. 9. The outcome • Y need a group that wants something You d h hi y you can offer and where y can defend you and maintain the relationships you have built. • We have become the most reliable grower g of organic salad leaves within 15 miles of Brighton. Copyright Dr Alan Rae 2013
  10. 10. Business is interactive. The entrepreneur • Develops products by interacting with customers • W k in a continuous i t Works i ti interactive way to ti t develop its markets and customers. • Starts with its own ideas and sees who wants to buy them • Follows the money Copyright Dr Alan Rae 2013
  11. 11. How do we develop p strategic offerings? • Rapid Prototyping. – Cheap quick, agile, gets results. – It’s collaborative. – Relational rather than transactional. – Learning rather than exploiting. 1. Talk to the customers 2. Establish what they need 3. Work out how to give it to them without going bust 4. 4 Do it Copyright Dr Alan Rae 2013
  12. 12. The traditional approach Research the Business Landscape and segment it p g g Choose a promising market segment Develop with the aid of focused research a product set that meets its needs Logically set up distribution channels and develop an appropriate marketing mix Copyright Dr Alan Rae 2013
  13. 13. The three laws of entrepreneurial marketing • Only sell things that people want to buy • If it’s going to fly it will do so pretty quickly • Build a model that lets you get some cash back i ht b k right away Copyright Dr Alan Rae 2013
  14. 14. You need to build a gang to deliver Suppliers, Couriers, Advocates, Advocates Designers etc Copyright Dr Alan Rae 2013
  15. 15. What it’s not • Random chatting about Blue Skies topics • Market research and development can be informal but it needs structure • S does constellation b ildi and selling So d t ll ti building d lli Copyright Dr Alan Rae 2013
  16. 16. Collaboration is important because • Intrusion marketing and one way messages don’t work any more. • You do it right by being structured and g y g systematic. Give me your email address afterwards and I’ll give you access to I ll some free tools that may help you. Copyright Dr Alan Rae 2013
  17. 17. You need a strong story to connect Try to compare your needs and values with those of the client This can give a framework in which we can develop compelling narratives. This is all about values and how people think Copyright Dr Alan Rae 2010
  18. 18. Create the scenery y for the play 1.What’s your story 2.Tell it f face to face f 3.Tell 3 Tell it in writing 4.Tell 4 Tell it on line How many leads do you need – and how good are you at closing them? Copyright Dr Alan Rae 2005-13
  19. 19. They want social proof y p that • You know your stuff • You deliver what you say • You’re likeable or at least easy to work with ith Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  20. 20. Your online toolkit for building scenery. You can create structures like this to get noticed by influencers Copyright Dr Alan Rae 2013
  21. 21. Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  22. 22. Find your Influencers Linked in /Twitter / Conferences • Linked in is well used by corporates Linked-in – Who knows whom – Who you know that knows them – Who discusses what in industry g p y groups – You can demonstrate thought leadership via groups & profile blog entries and slideshare • Twitter tells you who’s talking • Conferences let you meet them - informally Copyright Dr Alan Rae 2013 Our Business is Making Your Business Grow
  23. 23. Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  24. 24. Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  25. 25. Don’t over do it • I ’ not about b ildi the bi It’s b building h biggest wall ll • If you don’t create a clear story that makes the th people you can h l want t engage l help t to with you it’s very hard to succeed. Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  26. 26. How can we help you ? 1. Give 1 Gi me your email and I’ll send you a li k il d d link g to some useful tools including this slide set contact me at Alan@Branduin.co.uk 2. 2 Sign up for a 1 2 1 The first hour is free 1. free, the second is £25. There are slots today as part of the Be th Business P t f th B the B i Programme or sign up here http://bethebusiness.org/business-review-clinic/ 3. Consider the following action list Our Business is Making Your Business Grow Copyright Dr Alan Rae 2007
  27. 27. Marketing to do list g • List 50 people you need to meet and how – – – – They can find you You can get introduced to them You can collide with them Customers, suppliers, partners • Use social media to create the scenery – this book tells you how – – – – – – – join linkedIn - Build profile - join groups - contribute Build Collateral library - 7 things – books – white papers etc Create a form for people to sign up for these so you can email them p o Build Social media profiles Connect it together – so when people check you out they find your stuff Check out www.howtodobusiness.com for more free materials Copyright Dr Alan Rae Our Business is Making . 2009 Your Business Grow