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What marketing channels make sense for a (digital consumer) startup, and when? – a RedMart perspective
This document provides 5 tips for startup marketing: 1. Observe customers to understand what they like and don't like 2. Listen to customers to gather feedback on the service 3. Use the right marketing channels which are low-cost, easy to implement, trackable, and scalable such as Google Adwords, Facebook ads, and display networks 4. Start tracking lifetime customer value from the beginning to understand costs and revenues over time 5. Know what rate of growth is sustainable to balance investor and customer satisfaction.
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What marketing channels make sense for a (digital consumer) startup, and when? – a RedMart perspective
- 1. consumer digital 5 tips to get your startup marketing heading in the right direction (with some general startup advice) Todd Kurie VP Marketing RedMart
- 2. About Me ActivityNet ‘99-01 ‘12-present ‘04-’06 ‘10-’12 ‘06-’08
- 3. What I’ve Learned ActivityNet Don’t be too early Be methodical and persistent Pivot towards the money Focus! Grow when you are ready to
- 4. About RedMart Launched Nov ‘11 Grown 16/17 months Jan ‘13: $3M ann. rev Raised $4M raised to date
- 5. The Challenge ofStartup Marketing Learn as quickly and cheaply as possible about: your customers, what they like and don’t like about your service, the most effective ways to reach them, and the costas fast as possible the Grow of acquiring them and lifetime revenue you will likely generate, and THEN grow as fast as it makes sense
- 6. Tip #1 –observe your customers
- 7. Tip #1 –observe your customers
- 8. Tip #2 –listen to your customers
- 9. Tip #2 –listen to your customers
- 10. Tip #3 –use the right marketing channels Good! Results Bad! Effort
- 11. Tip #3 –use the right marketing channels Channel Low Cost to Easy to Highly Easy to Scale Test Implement Trackable Google Adwords Facebook CPC/ Promo Posts Display networks Print Out of Home Stuff your CEO wants you to do
- 12. Tip #4 –start tracking lifetime value now +$ --------------------------------------------Cost Per Account-------------------------------------------- $ -$ Time
- 13. Tip #4 –start tracking lifetime value now
- 14. Tip #5 –Know what growth is “just right” Investors unhappy Customers unhappy Just right!
- 15. Tip #5 –Know what growth is “just right” max Facebook Post Facebook CPC Adwords min Customer EDMs Organic
- 16. THANKS! Use code “NICE2MEETU”and get $5 off at RedMart!