Startup Marketing
What You Need to Do Before You Begin
Author : Eva hukshorn, partner EFactor
1.
Efactor is a Smart Network that matches entrepreneurs with the very people who can help them grow
2.
Finding Business Partners: from partners to investors, from coaches to customers
3.
Largest Entrepreneurial Network in the World with 1mio members in 185 countries
4.
An online community Offering you a network, knowledge, events, and every business resources you need to succeed @ discount!
5.
GO Online, fix your personal profile & company profile and get MATCHED!
It’s not about connections - it’s about the right ones…
Marketing is About Making Yourself Visible
Marketing Exposure Evolved Quickly
Marketing evolved: - 1980s: Fewer ads >> more people >> undivided attention - 2010s: More ads >> less people >> less attention - Product proliferation and availability => Choice - Media proliferation => Continuous & Fragmented - Access proliferation => Everywhere
But So Did The Consumer
• Interruption marketing is no longer accepted. • Audience is participating instead of receiving. • Solution: GET THEM INVOLVED
Why You Need a Marketing Plan: Control!
• • • • • • • •
Define your idea / Bus. Plan Target audience Target market Budget constraints Smart marketing Feedback Measurable Logo
• • • • • • • •
Recruiting Investor relations / PR Crisis Management Traffic Employee relations Company culture Style company Philosophy
But So Did The Consumer
1 2
1. Know
2. Characteristics Product 3. Specify your target market
3 4. 4
thyself
Specify your target group
5. Collect information
6
1. Identify stage in life cycle 2. Goal communication
7 3. 8
Research buying behavior
4. Select marketing channels
9 5.
Create marketing budget
1 0 out consistent messages Marketing plan helps you to send 5
Know Thyself : SWOT Analysis
INTERNAL: Strength & Weaknesses • • • • • • • • • • •
Resources: financial, intellectual Customer service Efficiency Competitive advantages Infrastructure Quality & price Delivery & me Costs Capacity Personnel / management Organizational structure
EXTERNAL: Opportunities & Threats • • • • • • • • • • •
Political Legal Economic condition market Expectations of stake & shareholders Technology Public expectations Competitive environment Barriers to entry Commodity prices Amount of customers Structure of suppliers
Identify the Characteristics of Your Products / Services
SALES FEATURES
CHANNELS
POSITION
PRICE
SUPPORT
COMPETITION
Create
VISION
ALLIANCES
BRANDING
a SWOT of your product
Specify Your Target Market
Example: •
Fashion
•
Fashion in North America
•
Fashion in the US
•
Fashion in New
•
Fashion in New York, Manhattan
•
Pret-a-porter fashion in New York, Manhattan
York
Targetsmall, and then roll-out to near markets
Specify Your Target Customer
Demographics: •
Age
•
Religion
•
Gender
•
Location
•
Profession
•
Education
•
Relationship Status
•
Generation X, Y, Z
•
Children
•
Income
•
Race
•
Hobbies
•
Political Preference
•
Life Style
Targetsmall, and then roll-out to near markets
Collect Lots of Information & Analyze
WAY TO COLLECT • Market: - Economic - Regional • Customer characteristics • Competition: - Companies -Products
HOW TO COLLECT • Surveys: - Online surveys - Personal surveys • Group sessions • Industry reports • Competitors • Other…be creative!
Lots of quantifiable data needed
In Which Stage of Lots the of Product Life &Cycle are You In? Collect Information Analyze BRAND AWARENESS
SALES
LOYALTY
ENCOURAGEMENT
Different stages, different messages
Determine the Goal of Your Message and Communication
BRAND AWARENESS TEASING & POSITIONING • Recognition • Messages frequent & consistent • Positive feelings • Awareness of USP • “Experience”
55%
SOCIAL ENCOURAGEMENT
LOYALTY
ACTIVATING & CONVINCING • Understanding problem • Awareness of ‘how’ problem is solved • Products & services are easily accessible • Administration process are clear & practical
SATISFACTION & RELATION • Continuous dialogue • Deliver promise • Solve problem • Create long-term relation • Relation continues even after product or services is delivered
35%
10%
Research Your Customers’ Buying Behavior
Need Information & Problem Awareness
• Stimulus Creation
Information Search
• • • •
Evaluate Alternatives Purchase Post – Purchase Evaluation
Personal Sources Commercial Sources Public Sources Experiential Sources
• High Involvement • Low Involvement • Satisfaction • Confirmation
Choose Your Marketing Channels
BRAND/IMAGE – TEASING Radio Public transport Free Publicity Press release Guerilla Bill Boards Spectacular SMS Tell a friend Cars
BRAND/IMAGE – POSITIONING Television Magazines Advertorials Press Interviews Brochures Website News Rooms Podcasts Flicker Video/YouTube Partners TV Shows
SALES/TRAFFIC - ACTIVATING Conferences Congresses Seminars Direct Mail E-mail Telemarketing Leaflets Action website Free Cards Point of traffic Newspapers SEO / SEA Social Communities*
SALES/TRAFFIC - CONVINCING Sales Promotion Premium Services Sales training Sales coaching Product folders Sampling Trials Case Studies Testimonials Post-ordering Catalogue Display
Note: www.BiTSEN.nl, Frans de groot / Toon ten Cate
Choose Your Marketing Channels
LOYALTY - SATISFYING Membership Cash back card Events Newsletters News updates Forum Education Apps Online games Panels Mentoring Q&A Video calling Workspace
LOYALTY RELATIONSHIP Blogs Widget Testimonials Book writing Member-brings-in-member In-house/online magazine Individualentertainment & business Relationship building events
Visit Now http://www.efactor.com/
https://www.facebook.com/efactor http://www.twitter.com/efactor
Thank You!
This document was prepared by Eva Hukshorn. Several people and organizations have inspired her to write this presentation, amongst which are, but not limited to the Founders of EFactor, ABN AMRO/RBS, University of Groningen, Institute for Management Accountants, Paul Grant Founder of the Funding Game