Marketing On The Cheap

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Everything you need to land the first investor. Explores secondary brand association, tips for marketing your pitch to investors, and how to create "validation marketing" that leaves the right taste in their mouths after you\'re gone.

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Marketing On The Cheap

  1. 1. Marketing “On The Cheap”<br />Everything You Need to Land the First Investor<br />Presented By:<br />Jeff Takle <br />Jeff.takle@gmail.com <br />(857) 277-9050<br />
  2. 2. Branding the Company for Free<br />Meeting with an Investor<br />“Validation” Marketing<br />Boatload of Free Stuff<br />Laying the Ground Rules<br />What’s the “down side” of trying?<br />Speed = I may skip over your question<br />Bathroom & Snacks<br />Agenda<br />
  3. 3. The Beginning…<br />Stage I: Branding<br />Stage II: Investors<br />Stage III: Validation<br />
  4. 4. Stage I<br />Building Credibility<br /><ul><li>Getting Other People to Spend Millions to Make Your Brand Look Better
  5. 5. Why SBA Awesome
  6. 6. How to Get Some</li></ul>This section brought to you by:<br />
  7. 7. What is your first impression of this site?<br />What’s a synonym for “doggie doo?”<br />The typical engagement for this company yields $1.2 million in revenue<br />
  8. 8. What is your first impression of each of these people?<br />Jeff spent a year basically unemployed and drinking expensive coffee at Diesel Café in Davis Square, waxing poetic about the next evolution in web technology. He made no money during this time and didn’t shave. His family thought he was being a bum. He thought he was a “diamond in the rough” waiting to be discovered.<br />Jeff is a nationally recognized speaker and entrepreneur who’s provided commentary on the current financial crisis to CBS Evening News, been featured in the Wall Street Journal, New York Times, and every other major publication of record.<br />True. Effective? Nobody cares…<br />Also true. Effective? Why?<br />To get press, buzz, and funding, you need to be a compelling story. What’s the best versionof your answer to an investor’s: “Who are you?”<br />
  9. 9. What is Secondary Brand Association?<br />+<br />=<br />
  10. 10. What is Secondary Brand Association?<br />+<br />=<br />Anything<br />
  11. 11.
  12. 12. Taking an existing brand, well known to your customers, and placing it nearby your brand in order to gain credibility, overcome customer objections, and inspire buying habits.<br />Ask for permission? Assume it? There is no formal method to 99% of sba<br />Ethical vs. Unethical<br />What is Secondary Brand Association?<br />SBA is how you get other people to spend millions to make your brand look better.<br />
  13. 13. Why Brand Association is Awesome<br />Overcomes Fear of <br />Being first<br />Being the only customer, investor, partner<br />Being around…you might close down<br />Creates Fear of<br />Being left out socially (Clothing & celebrities)<br />Being last (Energy drinks & race car drivers)<br />Going with an inferior competitor (Apple vs. Microsoft commercial)<br />For customers<br />For investors<br />1. Identify your biggest customer objection. 2. Pick a brand that addresses the objection. 3. Make an association. 4 Promote it.<br />
  14. 14. On your web pages, business cards, and voicemail…<br />How to Execute Your Brand Association in the Next 2 Days<br />
  15. 15. “Widgets & Buttons”<br />Who will “vouch” for your product, either explicitly (testimonial) or implicitly (scores)?<br />
  16. 16. “In the News..”<br />Cutting edge!<br />Impressive!<br />Blowhard!<br />International!<br />Quality!<br />What do you think when you see coverage fromCBS Evening News & placement alongside Obama?<br />
  17. 17. “Our Partners”<br />
  18. 18. On Your Biz Card<br />Voted “Best Quality Food” by Somerville citizens<br />Jeff Pickle<br />Head Chef<br />j.p. two. designs<br />100 Highway Rd<br />Somerville, MA 02145<br />Get creative, be honest & use what you’ve got<br />
  19. 19. On Your Voicemail<br />Hi this is Jeff at RentingYourHome, an Entrepreneur Magazine Top 500 company. The recent housing crash has our phones ringing off the hook but I promise to get back to you within 24 hours if you leave a name, number, and best time to call. Thanks!<br />Pick an SBA partner with a purpose! - This one helps overcome a top customer obstacle, the “credibility” question!<br />
  20. 20. Stage II<br />Marketing to Investors<br /><ul><li>The “Average Day” for an Investor
  21. 21. Telling a Story in 2 Sentences
  22. 22. How to Look Like an Idiot, Fast</li></li></ul><li>What’s This Guy Doing?<br />Hint: He’s machine-gunning somebody<br />He’s answering the investor question: “What Does Your Company Do?”<br />
  23. 23. I run a web company. Well really we do property management and help a lot of people like landlords and small property managers to do all the things that they normally do, but on the web. Like, we help people collect rents by credit card and electronic check. Did you know that while 89 percent of mortgages and over 93 percent of auto loans are paid by electronic methods that fewer than 5 percent of rents are collected online. This is huge opportunity for investors. Are you an investor? If you are, let me tell you about this other stuff the company does too. You’re gonna love it. <br />We run credit checks, not the really crappy kind but the kind that landlords love to get. And, even though we haven’t built the capability yet, we’re going to deliver a risk metric and tenant screening product that’s going to be the best thing anyone has ever seen. Because you see everyone else out there is pretty much an idiot and I spent about 10 minutes thinking about this idea so I’ve probably got it licked. Well, I guess that’s 9 minutes more than I spent preparing my elevator pitch…<br />Hey, where you going???<br />
  24. 24. Respect How Many Pitches Your Investor Hears in a Typical Day<br />The “average” day for an investor…<br />On average, a partner at a major VC firm sees 2 new business plans EVERY SINGLE DAY from an entrepreneur just like you. &lt;Gulp!&gt;<br />
  25. 25. What’s The Impact of Seeing So Many Deals?<br />Avoid the following when “telling your story in 2 sentences”<br />Respect how many times they’ve heard the exact same pitch. You must immediately answer why your opportunity is better than the other 499 opportunities they’ll see this year.Here’s an example of a great, seasoned pitch: http://vimeo.com/7465598<br />
  26. 26. Write a killer 1- or 2-page summary<br />Find a way to get a personal referral or introduction to your investor<br />Do whatever you can to get a face-to-face meeting<br />Show up early, have electric energy, and blow their hair back<br />Know your audience<br />Most venture capital investors want only explosive ROI – show them the numbers and make them believe that you believe the ROI is attainable<br />Most angel investors want to mentor and make good ROI, in that order – show them the numbers and seek their advice (see study)<br />What Can You Do to be More Successful with Investors?<br />How to look like an idiot, fast…<br />In every communication, compete with 499 other entrepreneurs.<br />Show why your opportunity is not only viable, but better than all the others they’ll see.<br />+<br />
  27. 27. <ul><li>“…rather than reading a report, [an investor] wants to hear the evidence in PowerPoint slides, white board presentations or “somebody just talking.”</li></ul>“Investors Pay Business Plans Little Heed, Study Finds,” New York Times http://www.nytimes.com/2009/05/14/business/smallbusiness/14hunt.html<br />“Typically, entrepreneurs make their initial pitch to angels in an informal session. If their idea is judged to have promise, they may be invited to give a PowerPoint presentation followed by a question-and-answer session.”<br />“First, he said, have a product on the market. “Nothing speaks more loudly than revenue coming in,” he said. His two-year-old company…had sales last year of $25,000 and is on track to increase that by tenfold this year.”<br />“Second, do not ask other people for money unless you have spent your own. He has put $105,000 of his savings into his firm and raised $185,000 from family and friends.”<br />“Third, the business plan you show to potential investors should be concise. He suggested using software on Angelsoft.net.”“In Pitching to Angel Investors, Preparation Tops Zeal,” New York Timeshttp://www.nytimes.com/2009/06/11/business/smallbusiness/11hunt.html<br />Don’t Believe Me?<br />
  28. 28. Stage III<br />Validation Marketing<br /><ul><li>Set up the website and email
  29. 29. Competitors and references</li></li></ul><li>“Validation Marketing”<br />It’s the stuff an investor will look at after you give your pitch and leaveand may determine whether you get a second meeting or a callback. <br />You made a great pitch…now…is this guy/gal legit?<br />Website<br />Quality counts<br />A great 3-page site is better than a terrible 20-page site<br />Don’t sweat domain names<br />Email<br />Same as website domain<br />No “.edu” (unless it’s an MIT engineering startup)<br />No “@hotmail.com”<br />WordPress themes are free and fantastic<br />first.last@domain.com<br />Validation Marketing doesn’t guarantee a thing. It is not an absolute requirement. It only improves your chances of success.<br />
  30. 30. “Validation Marketing” – Part II<br />Bring References<br />Endorsements<br />Testimonials<br />Scientists<br />Research companies or reports<br />Industry analysts<br />PhD’s, famous people…<br />Bring samples to pitch; leave behind<br />Competitors<br />Bring samples of competitor products<br />Highlight 1-2 things you do better<br />Translate that into $$$ terms<br />Show you are aware, but not afraid, of your competitors<br />Secondary Brand Association is your friend<br />
  31. 31. Boatload of Free Stuff<br />Extra resources for you…<br />
  32. 32. Resources<br />Cool stuff<br /><ul><li>Website Analytics
  33. 33. Google analytics http://adwords.google.com (best quality)
  34. 34. Windows Live analytics http://www.officelive.com
  35. 35. Site vs. Site
  36. 36. www.compete.com
  37. 37. www.websitegrader.com(easiest)
  38. 38. Cheap Web Templates
  39. 39. www.templatemonster.com
  40. 40. www.flashden.net
  41. 41. www.wordpress.com (easiest)
  42. 42. Email Marketing
  43. 43. RatePoint – www.RatePoint.com, has customer testimonials capability
  44. 44. Constant Contact – www.constantcontact.com
  45. 45. Create a Video Tutorial
  46. 46. Camtasia Studio 6, Free download from Techsmith, www.techsmith.com
  47. 47. Help Desk / Support Center Software
  48. 48. SmarterTrack (free download 1 license) from www.smartertools.com
  49. 49. Social Media tools
  50. 50. Auto-post to 20 sites? www.pingfm.com
  51. 51. Organize your Twitter? www.tweetdeck.com
  52. 52. Free blogging software: www.wordpress.com
  53. 53. Biz Cards
  54. 54. Vista Print (free, plus shipping) www.vistaprint.com</li></li></ul><li>Next Up…<br />Go land your first sale<br />Raise some capital<br />Brag to your momma<br />

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