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Entrepreneurial Marketing - MITPortugal Program May 2013
This document discusses entrepreneurial marketing strategies for startups. It begins with marketing basics and frameworks. It then covers pre-launch strategies like defining a target market, developing a positioning and value proposition, and choosing a go-to-market strategy. At launch, the document recommends building a simple marketing plan and choosing from common startup marketing programs like search engine marketing, public relations, content marketing and social media. It concludes with scaling strategies like hiring a CMO, building a marketing team and focusing on sales enablement and ROI.
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Entrepreneurial Marketing - MITPortugal Program May 2013
- 1. Entrepreneurial Marketing Frank Days VP,Marketing, Correlsense www.tangyslice.com @tangyslice
- 2.
- 3. Transparency… Frank Days VP, Marketing,Correlsense Fast growing private companies Soccer dad, BBQ lover and chili head Tangyslice.com
- 4.
- 5. What is Marketing? Marketingis the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. American Marketing Association Oct 2007
- 6. 4 P’s and3 C’s (4 C’s)
- 7. How marketing worldis sorted • Strategic/Product marketing • Programs/Promotions • Communications
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- 9. Theories are greatbut… • Things are different for entrepreneurs
- 10. Discussion Question • Whatmakes entrepreneurial marketing different from traditional marketing?
- 11. Differences • • • • • • • • Uncertainty Moving fast Entrenched incumbents Limitedresources Low awareness Competing priorities Vision vs. reality Establishing a new market
- 12. Question • How canmarketing help your business?
- 13. How marketing canhelp • • • • • • • • • Awareness Brand Credibility Users Prospects Customers Investors Revenue Acquisition/IPO
- 14. Why care aboutmarketing? • • • • Understand the needs of the market Spread the word Build awareness Get customers
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- 16. Need a targetmarket
- 17. Common Challenges • • • • • Too big Notbig enough Not specific enough Need to build segment Extrapolation
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- 19. Positioning Questions • Whatare your two dimensions? • Do they matter to your target customer? • Can you own this?
- 20. Value Proposition/ Unique Sellingproposition • Simple statement of value for your target • Think elevator pitch • Avoid – Jargon – Big words – Extraneous adjectives
- 21. Go to MarketStrategy • Direct vs. indirect? • Questions: – What’s in it for them? – If you can’t sell it yourself, can someone else? – How much margin do you need to give up? • Big companies love to talk with startups… • Getting them to cut a check is another story
- 22. Importance of Marketing Importance ofmarketing = 1 __________________ Size of average Selling price
- 23. WHAT ONE MARKETINGTHING DID YOU TRY THAT DIDN’T WORK?
- 24. Tagline and logo •Are overrated at early stages • Get something good enough • You will likely update both
- 25. “We need somebuzz…” • Marketing is hard work… not magic … • You want – Awareness in your target market – Prospective customers – Closed deals • Buzz is a distraction
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- 27. FACT: THERE AREMORE WAYS TO SPEND MONEY ON MARKETING THAN THERE ARE PRODUCTIVE PROGRAMS
- 28. Build a SimpleMarketing Plan Consider agile project management
- 29. How much tospend? • As much as: – You can afford – Your investors can agree to – You need to grow
- 30. Marketing Mix • Wherecan a startup spend it marketing resources?
- 31. Common Startup Programs • • • • • • • • • • • • • • Viralproduct Search engine marketing (paid and organic) Public relations Content marketing Emails Sales enablement Social media Tradeshow/events Advertising Partner marketing Sponsorships Lists CRM Lead nurturing
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- 33. Viral Marketing Model •Advantages • Disadvantages
- 34. Pro’s and cons Pro’s •Can go viral • Users do marketing for you • People like you • Need a way to monetize • Product takes a lot of work Con’s • Might not go viral • Lots of people don’t buy • Third world leads • Activation rates • Data quality • Still have to get people to your site
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- 37. Content marketing = content+ SEO + social media Outbound Inbound Print Ads Blogs, Ebooks, White Papers Television Ads Viral YouTube Videos Cold Calling Search Engine Opt Trade Shows Webinars E-mail Blasts Feed, RSS Credit: blog.hubspot.com
- 38. Social media Blogs/Microblogs Tools Monitoring Visuals Video Sites CoreNetworks IT Sites Link Builders
- 39. But you can’tlive by content marketing alone • It is still a marketing mix • PPC, SEO, Email, web, CRM … • Result dictate your mix
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- 41. Write some guestblogs
- 42. Leave comments • Find someplace you feel confident • People you know
- 43. Invest in adecent website design
- 44. And a shortvideo…
- 45. Add keywords toLinkedIn profile • Mark profile public • Mention products and markets • Create short URL to you with keyword
- 46. Don’t let someonesell you a viral video
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- 48. Series A orB: Turning the Crank • • • • • • • • You know your target Hire a CMO Brand consultant Build a marketing team Go big or go home Sales enablement CRM ROI
- 49. Where to learnmore... • Online resources – Mashable.com – Techcrunch.com – Marketingprofs.com – MPDailyfix.com – Copyblogger.com
- 50. Stay tangy myfriends… Frank Days VP, Marketing, Correlsense LinkedIn.com/tangyslice fmdays@tangyslice.com
Editor's Notes
- #2 Version 7.3 Updated November 30, 2009.