Global Marketing session by Marvin Liao @ Happy Farm

Global Marketing overview by Marvin Liao @ HappyFarm
  • Congratulation - you are en enterpreneur
    • A hard thing to do
    • Desire to change the status quo
    • Being delusional
    • Audacity
  • Key things about startup success
    • Success is very rare
    • 90% startups fail in first year
    • Three key barriers from book called "Innovators dilemma" - read it. If you are not adaptable - companies would come from the bottom and eat you up.
      • momentum barrier - people have habits - you change these habits.
      • implementation barrier - your solution has to be 10 times better to replace current one
      • ecosystem barrier - enterprise change very slowly - you have to challenge the entire ecosystems
  • Things to think about new products when you think about sales & Marketing
    • Relative advantage - Strong. Should perform much better
    • Simplicity - really difficult to achieve
    • Trialability - should be easy to try
    • Observability - something people should see (iphone earphones)
    • Compatiblity - easy to use as part of people habits
  • No likes to be Sold - everyone likes to Buy
    • Sales & Marketing are different sides of the same coin - you have to have both
    • Now information travels - easy to get reviews opinion.
    • We move from hard sales to education - we teach customers what is good product or good service.
    • "Revenue department" in HubSpot - instead of separate - mix of sales & marketing
  • If you don't think about marketing the only person who'd use your product would be you and your mom.
  • Marketing is about - Telling your story
    • Positioning
      • a book called "Positioning" - Al Ries, Trout.
      • establish your category - then build your product
      • establish a NEW category
    • Defining Target customer
      • not everybody would be your customer
    • Representing customer voice in Product roadmap
      • in startup - everything should be coordinated
      • apple
        • laid a rodamap of product launches of Apple
        • laid on a roadmap of marketing campaings of Apple
        • everything was synchronized.
      • in sales people talk with customers you have to listen
    • Develop the company brand
      • Brand is the promise of what you are to your customes
    • Keeping customers happy (retention)
  • Think about the problem you try to solve. You sell something customers are willing to pay you money for.
  • Who is your customer?
    • B2B
    • B2C
    • Head (Fortune 500)
    • Tail (SME)
    • Local Market
    • Global Market
  • Channels
    • where are your customers
    • what is your budget
    • what is most effective way to reach customers
    • multichannel marketing - most channels benefit each other. there are a lot of them to use at once
  • Verticals
    • work with industries
    • book Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers
    • if you get one or two players in a vertical you would get much more.
    • pick one or two vertical industires
  • What makes you different
    • If you not articulate it - you are not going to succeed.
    • What is different about you technology
    • What makes you different as person
  • PR
    • one of most important tools you can use
    • not predictable
    • if you have to make a hard choice - I'd put money in PR
  • Customer development process
    • Phase 1 - for startups
      • trying to get product / market fit
      • Goal: trial, Feedback, Validation & Reference, Partners/Clients
    • Phase 2
      • Scaling & Expanding the Business
      • Goal : Expand the business; Customer Aquisition
  • Peter Drucker - "Aim of Marketing is to know and understand the customer so well, that the product or service fits him or her and sells itself"
  • Questions
    • First customer reactions is not good - what should we do?
      • all feedback is usefull
      • check vetical
      • redeploy a product
      • value customer feedback much more then friends or mentors
    • How to find the right customer?
      • Network is helpfull
      • Mentors tend to know people
      • Y-combinator is like an University
      • True friends stub you in the front
    • Usual marketing budget for global startup?
      • It's much cheaper to make startup now - $100K or $200K
      • Google Adwords, social networks - a lot of channels
      • Online generally is much cheaper
      • 2,5 Billion people is huge market
      • Ads are also establishing a brand (people pay $2M on superbowl to establish a position of being safe investment and picture of big company)
      • You don't have to spend a lot of money on online marketing
      • You have to build promise, but also back it up with product
    • what about PR?
      • PR and social media are tightly related.
      • don't underestimate Twitter, FB or Vkontakte
      • if you put up a page on social media - you have to manage it
      • it is so much easier to talk with customers using social media

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