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

1. Entrepreneurial Marketing
Dr Alan Rae – Chairman
Fletching Glasshouses
@alanrae
Our Business is Making
Your Business Grow
Copyright Dr Alan Rae
2012

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. 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. Know the terrain
Copyright Dr Alan Rae
2013

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. 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. 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. 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. 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. 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. 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. 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. 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. You need to build a
gang to deliver
Suppliers, Couriers,
Advocates,
Advocates Designers etc
Copyright Dr Alan Rae
2013

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. 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. 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. 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. 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. Your online toolkit for
building scenery.
You can create structures like this
to get noticed by influencers
Copyright Dr Alan Rae
2013

21. Our Business is Making
Your Business Grow
Copyright Dr Alan Rae
2007

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. Our Business is Making
Your Business Grow
Copyright Dr Alan Rae
2007

24. Our Business is Making
Your Business Grow
Copyright Dr Alan Rae
2007

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. 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. 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