Tie Seminar Mktg Shoestring Oct1409

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A seminar conducted for TIE in Silicon Valley to provide perspective on how companies can do marketing on a shoestring budget in the current world of social media and interconnected business.

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Tie Seminar Mktg Shoestring Oct1409

  1. 1. Marketing on a Shoestring Budget
  2. 2. AGENDA <ul><li>4Ps of Marketing </li></ul><ul><li>Where is your Elephant? </li></ul><ul><li>Product Segmentation </li></ul><ul><li>Pricing and Distribution </li></ul><ul><li>---------------------------------------------- </li></ul><ul><li>Promotion & its 3 Pillars </li></ul><ul><li>Awareness & Social Media </li></ul><ul><li>Lead Generation </li></ul>
  3. 3. Select Core 4Ps of Marketing Product Process People Positioning Place Prayer Promotion Packaging Pricing
  4. 4. What is “Marketing”? <ul><li>For a marketing plan to be successful, the mix of 4Ps must reflect the desires of the consumers in the target market – Philip Kotler </li></ul><ul><li>Peter Drucker --- Marketing is </li></ul><ul><ul><li>creating a product that sells itself </li></ul></ul><ul><ul><li>creating a product people want to buy </li></ul></ul><ul><ul><li>creating an environment that encourages people to buy </li></ul></ul>
  5. 5. Where is your Elephant? B A C
  6. 6. Where is your Elephant? <ul><li>Staying ahead of the Elephant (A) </li></ul><ul><ul><li>Difficult strategy to execute </li></ul></ul><ul><ul><li>Need at least 2 years lead </li></ul></ul><ul><ul><li>Some examples – Borland, Gupta Software, Harvard Graphics </li></ul></ul><ul><li>Staying below the Elephant (B) </li></ul><ul><ul><li>Starting with a niche </li></ul></ul><ul><ul><li>Some examples – F5, Packeteer, Portal Software </li></ul></ul><ul><li>Riding the Elephant (C) </li></ul><ul><ul><li>Bumpy but the safest of the three alternatives </li></ul></ul><ul><ul><li>Some examples – Airespace, Google, Thousands of app developers for Apple, Goog, MS, Oracle </li></ul></ul>
  7. 7. What is your Product like? <ul><li>Is your Product </li></ul><ul><ul><li>Physical </li></ul></ul><ul><ul><li>Services </li></ul></ul><ul><ul><li>Software </li></ul></ul><ul><li>Is your Product </li></ul><ul><ul><li>Pain Killer </li></ul></ul><ul><ul><li>Vitamin </li></ul></ul><ul><li>Does your Product </li></ul><ul><ul><li>Fit an existing market category </li></ul></ul><ul><ul><li>Creating a new market segment </li></ul></ul>
  8. 8. Segmenting & Finding your Customers <ul><li>Yahoo Vs Google </li></ul><ul><li>MySpace Vs Facebook </li></ul><ul><li>Packet 8 Vs RingCentral </li></ul>
  9. 9. Choosing the Place/Distribution <ul><li>Demand Creation is always done direct by the vendor </li></ul><ul><li>Product Delivery can be done Direct by the company or Indirect through Channels (Agent, VAR, Distributor) </li></ul>
  10. 10. Pricing for Software has changed <ul><li>Software Licensing model moving to Subscription </li></ul><ul><li>Think of Business model while designing Products </li></ul><ul><li>Touch with Customer is not always desirable </li></ul>
  11. 11. Thanks / Q&A / Contacting Me <ul><li>R. Paul Singh: EIR, Lightspeed Ventures </li></ul><ul><li>Email : rps@thesinghs.com </li></ul><ul><li>Twitter/Facebook/Linkedin : rpaulsingh </li></ul><ul><li>Blog : mobilepov.wordpress.com </li></ul>
  12. 12. What is “Promotion”? <ul><li>Explain </li></ul><ul><li>to people who should care about what you’re selling </li></ul><ul><li>in the way they want to hear about it (radio, print, etc) </li></ul><ul><li>in words and concepts they will understand </li></ul><ul><li>why what you’re selling meets their needs. </li></ul>
  13. 13. What is “Promotion”? <ul><li>In short: Marketing Promotion is Education. </li></ul>
  14. 14. How has the internet changed promotion? <ul><li>Old </li></ul><ul><li>News outlets limited </li></ul><ul><li>General demographics </li></ul><ul><li>Big $, fewer viewers </li></ul><ul><li>. </li></ul><ul><li>. </li></ul><ul><li>. </li></ul><ul><li>New </li></ul><ul><li>News free, but too much </li></ul><ul><li>Specialized audiences </li></ul><ul><li>Less $ per viewer – but lots </li></ul>Costs less to make noise, but / so there’s more. How do you stand out?
  15. 15. Marketing Promotion: Three Pillars
  16. 16. Marketing Promotion: Three Pillars X
  17. 17. Awareness <ul><li>Was: Direct Mail, Television, Radio, Print Ads, Articles in Magazines… </li></ul><ul><li>Is now also: “Social Media Marketing”… </li></ul>
  18. 18. Viral / Social Media, Defined <ul><li>Viral = historical term </li></ul><ul><ul><li>(A) Transmissible person-to-person </li></ul></ul><ul><ul><li>(B) Grows at an exponential rate </li></ul></ul><ul><li>Social Media = current systematized use of viral tactics, through formalized mechanisms </li></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><li>YouTube </li></ul></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>LinkedIn </li></ul></ul><ul><ul><li>Digg </li></ul></ul><ul><ul><li>… and the world of RSS, blogs, email, and word of mouth </li></ul></ul>
  19. 19. Viral / Social Media, Defined <ul><li>Viral = historical term </li></ul><ul><ul><li>(A) Transmissible person-to-person </li></ul></ul><ul><ul><li>(B) Grows at an exponential rate </li></ul></ul><ul><li>Social Media = current systematized use of viral tactics, through formalized mechanisms </li></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><li>YouTube </li></ul></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>LinkedIn </li></ul></ul><ul><ul><li>Digg </li></ul></ul><ul><ul><li>… and the world of blogs, email, and word of mouth </li></ul></ul>aka “Communicating with lots of people without spending lots of money, by getting them to do the work for you.”
  20. 20. Primer: 8 Steps to Buzz via Social Media <ul><li>The Eight Commandments… </li></ul><ul><li>Understand what you’re trying to sell, to whom, how they prefer to hear about it, and in what terms. Target – don’t sell Nuke Reactors on twitter? </li></ul><ul><li>Craft the message(s). What do you want each audience (purchasers, media, mass audience) to hear? </li></ul><ul><li>Set up your infrastructure: Twitter Account(s), Facebook App, RSS tags on blog on your site, Digg Link buttons, Video… what’s appropriate? </li></ul><ul><li>Craft content. What’s the story around your message that makes it socially transmissible? Is it cool, new, funny, controversial, insightful…? </li></ul><ul><li>Be ready to respond, reciprocate (have space to link back, time to reply) </li></ul><ul><li>Be proactive. Don’t just post; submit . Participate . Comment on others! </li></ul><ul><li>Reward good behavior. Feature your customers, make ‘em heros. </li></ul><ul><li>Do not spin. Do do lots of news and “press releases” </li></ul>
  21. 21. Lead Generation <ul><li>Was: Trade Shows, Direct Mail, 800-numbers, Yellow Pages… </li></ul><ul><li>Is Now Also: Keywords, Landing Pages, Social Media Destination… </li></ul>
  22. 22. Example Lead Generation Process <ul><li>Suspect </li></ul><ul><ul><li>No indication of interest or potential / Cold lead </li></ul></ul><ul><li>Prospect </li></ul><ul><ul><li>Contact made / Indication of interest </li></ul></ul><ul><li>Opportunity </li></ul><ul><ul><li>Identified project, or VMware use case </li></ul></ul><ul><li>Qualified </li></ul><ul><ul><li>“ decision criteria” known / “buying process” known / Funds or budget available </li></ul></ul><ul><li>Validated </li></ul><ul><ul><li>Technical fit confirmed by prospect / Business fit confirmed by prospect </li></ul></ul><ul><li>Selected </li></ul><ul><ul><li>Customer confirms that you are selected vendor / “Reverse timeline(RTL)” done </li></ul></ul><ul><li>Negotiation </li></ul><ul><ul><li>Business terms being negotiated </li></ul></ul><ul><li>Closed </li></ul><ul><ul><li>Contracts signed / PO in hand / No “hair” on deal </li></ul></ul>Lists from industry groups, cold-calling, ads, & direct email, keywords, referrals “ Opt-In”: responses to ads & email, trade show leads, evals Solutions Guides , Webinars , Customer Case Studies Datasheets, Pricing Guides, Powerpoint Prod. Presos, Demo Whitepapers, Reviewers guides, guided evaluations & demos Comparitive documents, competitive guides Incentive (“buy now”) programs TCO and ROI studies
  23. 23. Starter Example: VMware as Haiku <ul><li>Grabber </li></ul><ul><ul><li>An intriguing opening line that addresses a problem you have </li></ul></ul><ul><ul><li>ex: “Give Rebooting the Boot!” (rebooting is bad, annoying, timewasting) </li></ul></ul><ul><li>Value </li></ul><ul><ul><li>What unique and valuable thing YourCo does to address that problem </li></ul></ul><ul><ul><li>ex: “Run multiple operating systems on a single machine without rebooting” </li></ul></ul><ul><li>Call to Action </li></ul><ul><ul><li>Identifier and command to do something </li></ul></ul><ul><ul><li>ex: “Free 30-day trial, click here!” [VMware logo constant through all 3 lines] </li></ul></ul>
  24. 24. Summary Product Customer Place Promotion Pricing
  25. 25. Thanks / Q&A / Contacting Me <ul><li>Email : kevin@stupidmarketing.com </li></ul><ul><li>Twitter : virtualkev </li></ul><ul><li>Facebook & Linkedin : only if you’re a friend (no offense) </li></ul><ul><li>Web : http://blog.stupidmarketing.com </li></ul><ul><li>Stanford Class : http://stanford.stupidmarketing.com </li></ul><ul><li>Amazon : http://amazon.stupidmarketing.com </li></ul>

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