The Essential Startup Marketing Playbook by Steve Mann

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These are workshop slides which take you thru all the elements of startup marketing - building the foundation with branding, personas, positioning and segmentation, getting started with sales and marketing mapping and metrics and finally determining how to execute with inbound and outbound marketing and the startup marketing technology stack

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The Essential Startup Marketing Playbook by Steve Mann

  1. 1. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved THE ESSENTIAL STARTUP MARKETING PLAYBOOK YOU’VE CREATED A PRODUCT NOW WHAT?
  2. 2. Having triplets keeps you young! Top CMO at the intersection of strategy & creativity Top 100 CMO on Twitter FierceCMO Top 15 B2B CMO to Watch Peer 100: Top 100 Marketing Pro Governing member: CMO Collective @stevemann Steve Mann
  3. 3. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved
  4. 4. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Agenda 1 The foundation Branding, positioning, persona development & segmentation 2 Standing up your GTM strategy S&M mapping, Metrics? We don’t need no stinkin metrics? 3 Execution Inbound v. outbound, infrastructure, tying it all together
  5. 5. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved. Watch for “Startup Sauce”
  6. 6. { }1 The Foundation Branding
  7. 7. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Let’s Level-Set
  8. 8. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved VISUAL get Brand is not a logo…
  9. 9. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved VISUALa tagline…
  10. 10. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved VISUALor a product.
  11. 11. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved VISUALor a product.
  12. 12. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved VISUAL Branding is the act of forming a deep & long-standing emotional connection with a consumer which ensures long term loyalty and revenues
  13. 13. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved And its not just for B2C
  14. 14. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Impact of B2B branding 15% 79% 5% 64% 2% 60% CONSIDERATION PURCHASE PRICE PREMIUM No brand connection High brand connection
  15. 15. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Gen X Gen Y (Millenials) Gen Z Who should you be building your brand for?
  16. 16. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Welcome to the Brand Stairway Its about the founding team & your people …your culture …and your aspirations! Execution is critical. Are you consistent, credible, and authentic with your customers, partners, and ecosystem Its about building trust and loyalty.
  17. 17. { }1 The Foundation Positioning
  18. 18. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Positioning The act of creating distinctive messaging that occupies a unique place in a customer’s mind, as well as market category
  19. 19. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Positioning Startups is formula driven* For: Your target audience Who are dissatisfied: Current solutions Our product: describe the product category/solution That provides: Breakthrough capability Unlike: Our competitors or legacy solutions We deliver: XYZ features & benefits *
  20. 20. { }Positioning Case Studies Tibco Spotfire & Lexis Advance
  21. 21. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Positioning Startups (or mature orgs) is formula driven Courtesy of Mark Lorian, former VP Marketing for Tibco Spotfire
  22. 22. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved The formula is always there but customers never see it. For attorneys and other legal professionals Who depend heavily on legal research to build their cases Lexis Advance is a comprehensive “google-like” research solution That provides the most intuitive design, deep legal content and best-in-class legal analytics Unlike Thomson Reuters and Bloomberg LA is the first and best place to find the right cases test your assumptions and craft winning legal arguments.
  23. 23. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved YOUR TURN
  24. 24. { }1 The Foundation Persona Development
  25. 25. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Each of your firms will be selling to multiple buyers who have different personas in the firm. You will need to develop archetypal personas in order to develop positioning that is customized to individual buyers. “ “
  26. 26. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved “ “With personas, business can be more strategic in catering to each audience, internalize the customer that they are trying to attract, and relate to them as human beings. --Krux partners
  27. 27. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Persona development fundamentals: The 8 questions 1 What is their demographic information? 2 Job and seniority level and are they they economic buyer? 3 What does a day in their life look like? 4 What are their pain points? What do you help them solve? 5 What do they value most? What are their goals? 6 Where do they go for information? 7 What experience are they looking for when seeking out your products and services? 8 What are their most common objections to your product or service?
  28. 28. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Persona Information Personalized positioning by persona Courtesy: Buffer
  29. 29. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Courtesy: Kula Partners
  30. 30. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Courtesy: Buffer
  31. 31. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved
  32. 32. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup sauce: persona takeaways • Helps identify with your audience and better solve their problems by having an in depth knowledge of their goal, objectives, pains and day in a life • Aligns sales and marketing on targeting • Creates a “person” to message to, thereby enabling you to personalize your messaging • Include the whole team in coming up with these personas as everyone brings a different perspective and different information to the table • The results will be a better experience for the customer and a more engaged user for your business.
  33. 33. { }1 The Foundation Segmentation
  34. 34. What is it? The process of dividing up large heterogeneous markets into more homogenous sub-segments that have unifying characteristics. These unifying characteristics make it possible to TARGET these sub-segments & market effectively to themCourtesy: Match Node
  35. 35. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved 4 Basic types of segmentation Geographic Duh! Countries States Regions Cities* Neighborhoods* Demographic Age Gender Income Family makeup Education Income Needs Psychographic Life style Social class Personality Behavioral Product usage User type Personality Benefits sought Loyalties Attitudes Needs
  36. 36. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved But wait! There’s more! Firmographic Industry Product(s) Revenue # of Employees Titles Hybrid Firm + Attitude Demo + Behavior Geo+Firm+Demo … Most segmentation strategies are hybrids. B2B Startup Sauce: People buy, companies don’t. So make sure to include variables that characterize your buyer.
  37. 37. Startup Sauce: Keep it simple Use either a single base segmentation model or combine it with one other For instance: B2B: firmographic & geographic B2C: geographic and demographic Stay away from behavioral and psychographic They are the most powerful, but the hardest to implement 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved.
  38. 38. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Target the Beachhead New Product New Business Model Your Market You will be targeting this market! And this beachhead segment
  39. 39. Startup Sauce: Beachhead segments have common needs. Segmentation + common needs + persona = Initial target Delivering to this segment will provide you with great referencable clients! Segment PersonaNeeds Beachhead Segment 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved.
  40. 40. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Focus is essential Don’t be afraid to be extremely targeted at first. Its much easier to expand from a position of strength than having to contract due to failure
  41. 41. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved YOUR TURN
  42. 42. { }2 Standing up your GTM Strategy S&M Mapping
  43. 43. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved The Traditional Demand Funnel Opp Lead Inquiry Prospect Deal Market Awareness Demand Generation Marketing Domain Sales Domain
  44. 44. Startup Sauce: Map your Sales & Marketing Process Demand Gen Prospect Needs Analysis Demo Pilot Prove Value Prop Proposal Close Critical to figure out what YOUR sales & marketing process looks like to eliminate major hurdles and bottlenecks in order to scale your business. After you have 10 deals under your belt, sit down and map out the steps of every deal you WON or LOST. 1 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved.
  45. 45. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Identify Customer Needs & Motivations Demand Gen Prospect Needs Analysis Demo Pilot Prove Value Prop Proposal Close NEEDS/PAINS/CONCERNS MOTIVATIONS • Scalability • Functional fit • Company stable? • Make me look good? • Price • Addons • Partner strength • Easy to implement • Price • Aging legacy systems • Word of Mouth • References 2
  46. 46. Startup Sauce: Craft a Tactic Map Once you’ve mapped the pains and motivations of your prospects against your sales and marketing process, then map the individual tactics that you need to move the prospect down the funnel to closure. The tactics that will best address their concerns and motivations. 3 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved.
  47. 47. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Craft a Tactic Map Demand Gen Prospect Needs Analysis Demo Pilot Prove Value Prop Proposal Close PR Email Search & Social Content Marketing Events Qualifying Questions White Papers/Con tent Success Stories Online qualification See-Try- Buy User Survey Decision Maker Survey Economic Buyer Survey Live Web Demo White Papers Interactive tour Download Eval copy 90-day trial Configuration Services References Customer Success Stories Direct Sales Proposal Reseller proposal from Quote sheet
  48. 48. { }Process Mapping Case Study JBoss
  49. 49. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Focused on Customer Concerns & Motivations www.forentrepreneurs.com/sales-marketing-machine/jboss-example/
  50. 50. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved And Then Mapped Tactics To The Process Learn more: http://www.forentrepreneurs.com/sales-marketing-machine/jboss-example/
  51. 51. { }2Standing up your GTM Strategy Metrics? We don’t need no stinkin metrics!
  52. 52. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Without metrics you’re dead meat. “ “
  53. 53. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Remember the Demand Funnel? Opp/SAL Lead/SQL Inquiry Prospect/MQL Deal Market Awareness Marketing metrics enable you to gauge the effectiveness of your marketing efforts and to understand your resource utilization in capturing and retaining customers. Ideally you want to do this in context of the Demand Funnel.
  54. 54. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Critical: Conversion Rate Opp/SAL Lead/SQL Inquiry Prospect/MQL Deal Market Awareness Purpose: determine the quality of your marketing & sales as well as your qualification process. Enables realistic sales projections. What does it look like? Ratio of closed deals compared to each stage in the funnel and the funnel as a whole. Inversely related to funnel leakage. Typical B2B companies experience 13 wins: 1000 inquiries Nurturing Bucket
  55. 55. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Critical: Funnel leakage by stage Opp/SAL Lead/SQL Inquiry Prospect/MQL Deal Market Awareness Purpose: gauges effectiveness of tactics by funnel stage or identifies a process or competency issue. What does it look like? % of prospects that fall out of the funnel by stage Note that leaky funnels especially at the marketing/sales handoff is not always bad. Sales may determine that the lead is not worth pursuing at the time. Also helps manage the individual strengths of the sales team if you are a sales manager. Nurturing Bucket %age declines by stage
  56. 56. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Calculating ROMI (Return on Marketing Investment) Opp/SAL Lead/SQL Inquiry Prospect/MQL Deal Market Awareness Nurturing Bucket Purpose: Derivative of ROI (determines how much profit one has generated from invested capital). ROMI looks at how much return have I generated from my marketing investment. ROI (%) = Net Profit ($)/Investment ($) Calculating ROMI: ROMI = Incremental revenue attributed to Marketing ($)/Marketing Spend($)
  57. 57. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Other Crucial Marketing Metrics Opp/SAL Lead/SQL Inquiry Prospect/MQL Deal Market Awareness Nurturing Bucket 1. Web Traffic – what is the volume, where is it coming from, which content is most popular 2. Leads by campaign/tactic – which programs/sources/offers are driving leads 3. Email bounce/open/click thru 4. Revenue per marketing dollar spent, typical B2B ratio is 1:32, best-in-class is 1:62 5. Pipeline Volume – what multiplier of volume in the pipeline do you need to hit your revenue projections?
  58. 58. { }3Execution Inbound v. Outbound Marketing
  59. 59. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Consumers are no longer listening Nurturing Bucket
  60. 60. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved We play too many roles today Nurturing Bucket
  61. 61. 61 And have too many product choices Source: Darwin Day Conference, Google TNS Media Intelligence has over 2mm brands in its DB, growing at 700/day, over 10% per year In the 1990’s the number of brands on grocery store shelves tripled from 15k to 45k
  62. 62. 62 Too much content Today, media is fragmented 13,500 radio stations (4,400 in 1960) 17,300 magazine titles (8,400 in 1960) 82.4 TV channels per home (5.7 in 1960) And the Web: Millions of sites Billions of pages Source: Darwin Day Conference, Google
  63. 63. 63 Too many access points  Web TV  Email  Game Platforms  Tablets  Websites  Texting  Search  Radio  DVD  TV  Blogs  Magazines  PC/Mac  Satellite Radio  DVR  Video On-Demand  Newspapers  iTunes  Smartphones
  64. 64. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved. Courtesy: wordstream.com
  65. 65. 200 M On Federal DNC list 84% of 25-34 YO left a favorite site because of intrusive Ads 91% opted out of brand they had subscribed 44% of DM never opened
  66. 66. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Source: 2001 Corporate Executive Board survey
  67. 67. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved So what’s a startup to do? “ “
  68. 68. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Courtesy: @bhalligan, Hubspot
  69. 69. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Inbound marketing earns the permission of the consumer to market to them. Permission may be implicit or explicit. “ “
  70. 70. Courtesy: wordstream.com
  71. 71. @bhalligan, Hubspot
  72. 72. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Revenues Affinity Relationships Content Experience Conversation Relationships Brand Affinity Ready to Buy Create Content
  73. 73. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Optimize and Promote
  74. 74. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved But should I ever use outbound? “ “
  75. 75. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved It depends “ “
  76. 76. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Outbound marketing sends an interrupting message to the consumer to try to initiate a dialog eMail Rented Lists Cold Calling Appointment setting agencies Direct mail Retargeting
  77. 77. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved What’s Retargeting? User’s device is anonymously cookied with search term Search term triggers display in ad networks
  78. 78. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: When to use outbound Urgency to get started with marketing Need immediate feedback Have precise targeting information Willing to pay more to acquire
  79. 79. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: Concerns about outbound Lower conversion rates Tie your outbound efforts to inbound Not producing any viral awareness Higher cost per lead Courtesy AdWeek
  80. 80. { }3Execution Infrastructure
  81. 81. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved What foundation do you need? “ “
  82. 82. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: The Marketing Technology Stack CRM System of record for your customer, prospects and contacts, marketing results & purchased data also stored here. Marketing Automation Automates marketing campaigns so that responses are personalized based on response. Nurtures prospects down the funnel. CMS Enables management of all web content & keywords Social Media Social tools that enable you to manage your engagement on social channels as well as tools for listening. Analytics A broad array of suite tools and best of breed solutions to analyze web traffic, brand sentiment, engagement levels and marketing effectiveness
  83. 83. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Startup Sauce: The Marketing Technology Stack CRM Marketing Automation CMS Social Media Analytics 1 2 3 TMS
  84. 84. { }3Execution Tying it all together
  85. 85. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved The root causes for ineffectual marketing Lack of customer understanding Poor execution Inability to accurately measure and adjust
  86. 86. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved BrandBrand Position Persona Segment Map Tactics Measure Stack Eight building blocks for great startup marketing Talent Finance Management Content Digital
  87. 87. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved For young companies, the product is the brand but a great product doesn’t do you a bit of good if your interactions are negative, inconsistent or unauthentic. We will lay the foundation based on culture, values, talent and brand position. Be credible, authentic and consistent. BrandBrand Position Persona Segment Map Tactics Measure Stack Brand building
  88. 88. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Distinctive positioning Develop positioning using the Moore formula. Use it to drive our content and discussion. Remember, people buy, companies don’t so be sure to tie it to the personas you develop Brand Position Persona Segment Map Tactics Measure Stack
  89. 89. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Develop your personas Create explicit profiles of folks you want to target with your product, service or solution. Make sure you build personas for all members involved in the buying process. Tie it back to positioning It’s a collaborative process Brand Position Persona Segment Map Tactics Measure Stack
  90. 90. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Create your segmentation Once personas are developed, determine segmentation for targeting purposes. What companies are you going to target? What individuals? Basic: geographic, firmographic, demo or light hybrid. Develop a needs profile for your beachhead segment and focus!Courtesy: Match Node Brand Position Persona Segment Map Tactics Measure Stack
  91. 91. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Map the process Look at the first 10-15 deals worked and map out the Sales & Marketing process Map customer concerns and motivations at each stage Then figure out the tactics that will address each concern or motivation. Refine as needed but don’t make too many changes too quickly. Test!! Brand Position Persona Segment Map Tactics Measure Stack
  92. 92. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Determine tactic mix Start with inbound because it will take longer, but will yield higher conversion rates, lower cost of customer acquisition and rabid evangelists for your brand. You must earn permission! Create>Optimize>Promote Use outbound selectively to get into market fast but be precise on your targeting or else it could harm your brand.@bhalligan, HubSpot Brand Position Persona Segment Map Tactics Measure Stack
  93. 93. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Conversion rate, funnel leakage, win rates, ROMI are all critical. Make sure they are complementary to your sales metrics. The web makes it eas(ier) but with the plethora of data that is out there you need to select the right ones. Don’t be afraid to experiment. Measure Brand Position Persona Segment Map Tactics Measure Stack
  94. 94. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Build the MarTech Stack Get a great System of Record (CRM) and System of Engagement, & make sure it deeply integrates with marketing automation tools. Ensure sales and marketing are running off of the same CRM solution. Look to Hubspot and SFDC. Point solutions like Hootsuite and Spredfast for social media. CRM Marketing Automation CMS Social Media Analytics Brand Position Persona Segment Map Tactics Measure Stack
  95. 95. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved But most of all… “ “
  96. 96. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved Experiment! Fail fast! And have fun. “ “
  97. 97. 2015 AbleBrains, LLC. Creative Commons. Some Rights Reserved THANK YOU!

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