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)
- Positioning
- 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
- Phase 1 - for startups
- 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
- First customer reactions is not good - what should we do?
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