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Systems Thinking in Marketing
This document provides marketing advice for startups. It discusses understanding customers, evolving approaches to marketing from the 1980s to today, and challenges with marketing disruptive or innovative technologies. Key points include the importance of understanding human behavior, systems thinking, collecting customer feedback, targeting non-users, minimizing resistance to new products, and focusing on long-term customer value over short-term gains. Resources like books and marketing platforms are recommended for additional information.
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Systems Thinking in Marketing
- 1. Marketing Advice forStartups September 27, 2012
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- 3. …Understanding the newsocial customer Unraveling their Identifying and lifestyle, pains, pa connecting with ssions those who influence them Connecting the Identifying their dots between media brands and their consumption customer with/ choices social content 3
- 4. What the heckis marketing?
- 5. (Scratch) Marketing A marketer’sonly permanent alliance is with the audience. Erin Kissane (adapted) Our responsibility is to: • Understand the user’s mental model before designing products, websites or creating copy • Validate assumptions about the audience • Tune the communications to suit that audience 5
- 6. Evolving Marketing The Evolutionof Marketing • Up to 1980’s: Marketing the past • Telemarketing, Radio, billboards, posters, print media • 1980-1990’s: Marketing the present • Database marketing, relationship marketing, e-commerce, spam, guerilla marketing, CRM gains dominance in strategy • 2000+: Marketing the (social) future • Social media, an ongoing effort, creative exploration in developing technology and platforms Marketing of the Future • Products/services are never finished • Products/services never stand alone
- 7. Sooo 1980’s… Sooo cool… 7
- 8. 2000’s: What PeopleBuy • Promise that the brand will continue to deliver now and in the future • Trust = the belief that a brand is capable of delivering now and in the future
- 9. You want tobe a great marketer? You need to understand two things
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- 11. Understanding Human Behavior Source: Human 1.0
- 12. How we getpersuaded Source: Robert Cialdini, Influence
- 13. We are wiredfor reciprocity Source: Human 1.0
- 14. Why we goout of our way to punish others Source: Human 1.0
- 15. How we makedecisions… Source: Human 1.0
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- 17. Startup Marketing: YouHave Been Warned Source: @MikeTrap 17
- 18. Startup Marketing: TheReality • Used a video of a non- • Started as a platform for existent product to gather gathering support using feedback “tipping points” • Formulated hypotheses • Customers told them that about features and tested the idea was too abstract them rapidly and unfocused • Changed marketing • The company almost ran approach and feature set out of money when hypotheses were • Found that only one disconfirmed by market aspect was working, feedback group deals
- 19. Startup Marketing: TheReality Payment system for PDAs Massive multi-player game Video-dating site Automated email recommendation service Podcasting (as Odeo)
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- 21. Feedback and Loops •Validate needs • Collect customer feedback, have the mechanisms to adjust • Perpetual listening and integration of data for meaningful feedback 21
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- 23. In High Tech,Marketing is More About Opps than Current Market Current Market Demand Opportunity Current products meet current Novel products, often targeting customers non-users Needs well understood and stable Needs not well-defined, likely to change Substitutes for existing products Creates new categories of within category demand Selection, resulting in market Rate of adoption and penetration share Size of market, ease of addressing Potential benefits vs. behavioral change Source: Michael Davies, Endeavour Partners 23
- 24. Novel, Innovative TechProducts: Difficult to Adopt • Most people, most of the time loathe change • Investment in time and effort • Uncertainty, anxiety • Not familiar with novel products and their potential • Novel products always require trade-offs • Evaluation based on perceived value, relative to products in use • Sensitive to loss aversion • Companies underestimate the switching costs, overestimate the potential benefits Source: Michael Davies, Endeavour Partners 24
- 25. The Gap b/nEager Sellers and Stony Buyers Source: Michael Davies, Endeavour Partners 25
- 26. What Can Youto Do to Drive Rapid Adoption? • Accept resistance • Anticipate long adoption • Manage accordingly • Strive for >10x gain: • Make relative benefits so great they overcome customers’ overweighting of potential losses • Minimize resistance: • Target non-users – don’t use product now, no change needed or the unendowed • Target segments of customers who don’t give up as much • Make behaviorally compatible products Source: Michael Davies, Endeavour Partners 26
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- 28. Go-to-Market Plan Inputs • Customer understanding: pains and passions • Business plan and goals • Sales plan and goals • Addressable market and potential entry points • Positioning and segmentation 28
- 29. Before You Start:Figure Out Unique Shtick Source: @MikeTrap 29
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- 31. The New Salesand Marketing Funnel 31
- 32. Social Media –It’s not about the tools 32
- 33. PR/ Influencers • Framework • What are you doing? • Why does it matter? • Why should people care about it now? • Hire agencies for the right reasons • Don’t ask them if they have a rolodex of media contacts • Ask them if they will build media relations for you 33
- 34. Advertising = InfluencerMarketing • Push is dead; it is all about the right pull • Decision-making is a complex & strategic process • Although there is an ultimate decision-maker, there are numerous others involved to inform, support and validate decisions 34
- 35. Content Marketing 9 out of 10 B2B organizations market with content and 60% will increase spend in 2012: 35
- 36. Measurement 36
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- 38. Customer Metrics: NetPromoter Score Source: @MikeTrap 38
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- 40. Resources • Books: • Thinking in Systems by Donella Meadows • Momentum: How Companies Become Unstoppable Market Forces by Ron Ricci and John Volkmann • Influencer Marketing by Duncan Brown and Nick Hayes • Building Strong Brands by David A. Aaker • Predictably Irrational by Dan Ariely • The Psychology of Influence by Robert Cialdini • CRM at the Speed of Light by Paul Greenberg • Marketing Destinations: • Awareness, Inc. • Marketo • HubSpot 40
- 41. Contact me • Lora Kratchounova • Twitter: http://www.twitter.com/ScratchMM • LinkedIn: www.linkedin.com/in/scratch • lora@scratchmm.com 41