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Youth Entrepreneurship Series - Marketing
Kris Zanuldin, Acting VP of Emerging Commerce at American Express, gives a presentation on entrepreneurship and marketing. He covers developing an elevator pitch, understanding your target customers and environment, distribution strategies, and putting together a marketing plan. The key aspects he emphasizes are having a clear value proposition, knowing your competition and customers, getting your product or service in front of the right audiences, and setting measurable goals for success.
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Youth Entrepreneurship Series - Marketing
- 1. YLD Entrepreneurship Series SeizeThe Market, Before It’s Too Late! Kris Zanuldin @kzanul
- 2. about me Acting VPof Emerging Commerce" @ American Express 16 years Product Development & Marketing New York, London and Toronto
- 3. what they teachyou in b-school Product Pricing Place Promotion
- 4. • pitch! • knowyour environment • distribution, distribution, distribution • eyes on the prize • putting it all together If we only had one hour… (practical marketing)
- 5. your marketing M’s Message Medium Metrics
- 6. a word beforewe begin… Good Product > Good Marketing
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- 8. 1 the big idea? 2 3 4 Explainit in 60 secs or less What’s the need? Who are you? Why are you different?
- 9. keep it simple (speakplainly) Instagram makes mobile photos fast, simple, & beautiful. #FAIL YES! We’re a content discovery platform that enables personalized, geo-tagged content to be distributed through widescale social networks.
- 10. a sample pitch “Think:part friend-finder, part city-guide, part social-game. Foursquare is a mobile application that helps you keep up with your friends while using game mechanics to encourage and reward users for experiencing new things.”
- 11. know your environment Photo:Phillip Booth
- 12. know your personas SueMoore, 33 Coffee Shop Barrista Sue has been running her coffee shop for the last 3 years. She’s located near a busy station, so there are lot of tourists passing by her shop. However, most of her customers come from local businesses. She wants to attract more people to sit outside her shop while they wait for their trains. She likes commuters as they tend to buy more stuff when they are sitting there. She’s not allowed to advertise on her windows as that’s against local regulations. She is allowed to have one sign outside of the shop but keeps it as a default sign as she’s too busy to update it. Quotes “I get a lot of passer by trade and would love to attract more people within 150-200m of my store.” “Getting the regulars in more often would be great!” • 33 years old • Married • Turnover >$100k • Barrista & owner Characteristics • Cares about customers • Very busy day to day • Willing to try new tools to bring in business • Average Internet ability • More repeat customers • More reach • Ideas to market her business better Needs • Limited budget for advertising • Unable to reach all the office workers nearby • Doesn’t understand how many people see her adverts Pain Points Devices
- 13. • 18-34 yearsold • Own a House • Income $80k-$150k • Male • Need to cut the grass every week • Have only 1 hour • Low maintenance This is correlation… This is causation… I just bought a lawnmower know the job
- 14. know the competition (andyour position)
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- 17. your channels OWNED MEDIA web content twitter/ facebook blogs PAID MEDIA search ads display ATL EARNED MEDIA re-tweets shares bloggers
- 18. guerilla marketing Budgets arefixed…. Creativity is unlimited
- 19. content is king notthis… get this…
- 20. eyes on theprize
- 21. what’s success? Rule ofthumb: • Early: awareness, distribution, usage, user experience • Intermediate: sales, rev growth, more distribution • Maturity: profit, cost, loyalty Your goals will change as your business matures (keep it to <3)
- 22. beware vanity metrics (thetale of FSQ vs. Gowalla)
- 23. always be validating • Smoke tests • A/B Testing • Focus Groups • Observational Research Minimize the time to get learnings and make adjustments
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- 25. your marketing plan ü elevator pitch ü customer personas ü competitive position ü distribution strategy & media mix ü content strategy ü goals
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