Marketing for Tech Start-Ups – Getting the fundamentals right - Entrepreneurship 101

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Learn some of the fundamental concepts and principles of marketing for early-stage start-ups. We address the unique challenges of marketing technology products including:

Knowing when to begin marketing
Recognizing which marketing activities to do first
Identifying the goals of your early marketing activities
Syncing marketing with product development
Using marketing to fine-tune your business model

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Marketing for Tech Start-Ups – Getting the fundamentals right - Entrepreneurship 101

  1. 1. Marke&ng  for  Tech  Startups     Ge5ng  the  Fundamentals  Right     Entrepreneurship  101   Jon  E  Worren   October  26,  2011  
  2. 2. Defini9on     Marke9ng  is  an  organiza9onal  func9on  and  a  set  of  processes   for  crea9ng,  communica9ng,  and  delivering  value  to  customers   and  for  managing  customer  rela9onships  in  ways  that  benefit   the  organiza9on  and  its  stakeholders.   Source:  AMA    
  3. 3. Marke9ng   Mix   Product   Price   Promo9on   Place  
  4. 4. Your  idea  or  vision  
  5. 5. Glacier  &  Mountain:  Taken!  
  6. 6. Putrified  Shark  Meat   •  Putrified  shark  meat     •  Hákarl,  fermented  shark,  usually   buried  for  months  to  allow   certain  unhealthful  substances  to   leak  out,  then  air-­‐dried.     •  It  is  usually  served  in  bite-­‐size   cubes  and  washed  down  with   ice-­‐cold  brennivín.     •  It  is  divided  into  two  types,   glerhákarl  (glass  shark),  the  part   closest  to  the  hide  which  is   chewy  and  semi-­‐opaque,  and   skyrhákarl  (skyr  shark),  soW  and   tender  inner  parts.  Both  can  have   a  preCy  strong  taste.  
  7. 7. The  Winner……Air!  
  8. 8. FROM  IDEA  TO  VALUE  PROPOSITION   Joking  aside…..  
  9. 9. Value  Proposi9on  Statement   •  The value proposition statement may consist of several components: -  What you are offering -  The specific value associated with your offering -  For whom you are creating value -  What makes your product special or unique
  10. 10. Requires  a  number  of  decisions   •  What  should  the  product  or  applica9on  look   like?   •  Who  should  buy  it?   •  What  problem  is  it  solving  for  them  –  what   value  does  it  generate  for  the  buyer?   •  How  do  they  buy?   •  Why  would  they  pick  us  over  the  compe99on?  
  11. 11. So,  we  have  a   few  things  to   inves9gate…  
  12. 12. Ques9on  Your  Assump9ons   •  Customers  and  their  problem   •  Product  concept   •  Distribu9on     •  Pricing   •  Demand  crea9on   •  Market  Type   •  Compe99on  
  13. 13. Customer  Development  Model   Customer   Discovery   Customer   Valida9on   Customer   Crea9on   Company   Building  
  14. 14. Customer  Discovery   State  your   hypothesis   Test  problem   hypothesis   Test  product   concept   Verify  
  15. 15. Value  Proposi9on  Statement   The  value  proposi&on  statement  consists  of  several  parts:   -­‐  What  you  are  offering   -­‐  The  specific  value  associated  with  your  offering   -­‐  For  whom  you  are  crea9ng  value   -­‐  What  makes  your  product  special  or  unique  
  16. 16. Product  vs  Customer  Dev   •  Implements  vision   •  Feedback  from   Customer   Development  team   Product   Development   •  Ques9ons  assump9ons   •  Decides  on  customers,   problems  and  features   •  Offer  feedback  to  PD   Customer   Development  
  17. 17. Customer  Valida9on   Prepare  to   sell   Sell  to   visionaries   Determine   Posi9oning   Verify   Valida9on  
  18. 18. GET  STARTED!   What  are  you  wai9ng  for?  
  19. 19. Entrepreneur’s  Toolkit   •  A  collec9on  of  ar9cles,  videos,  workbooks  and  templates  to   help  you  grow  your  business.   •  marsdd.com/toolkit    
  20. 20. Other  E101  Marke9ng  Lectures   •  November  16:      Business  Model   •  December  7:      Value  proposi9on   •  January  11:        Market  Analysis   •  February  22:      Marke9ng  Communica9on   •  March  7:        Go-­‐To  Market  Strategy   •  March  14:        Sales   •  March  21:        Distribu9on  
  21. 21. Summary   •  Marke9ng  has  a  holis9c  mandate   •  Marke9ng  ac9vi9es  must  be  part  of  start-­‐up  from  the   beginning   •  Ques9on  your  assump9ons   •  Blank’s  Customer  Discovery  and  Customer  Valida9on   processes  offer  credible  avenues  towards  a  well  founded   value  proposi9on  and  a  sustainable  business  model  
  22. 22. Thank  You!   Jon  E  Worren   jworren@marsdd.com  
  23. 23. Photo  credits   •  simiezzz   •  CoCreatr   •  jonny2love     •  Rosie  Simca    

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