Post on 26-Jan-2017
PRESENTED BY:
Myths & Truths - Building a Product
January 28, 2015PRESENTED BY:
PRESENTER:ROBERT WALLACE
EVP MARKETING, TALLWAVEROBERT.WALLACE@TALLWAVE.COM
INTRODUCTIONROBERT WALLACEExecutive Vice President, MarketingTallwave LLC
Marketer, entrepreneur and problem solver.
Helps early stage tech startups take their products to market and stake a claim to a winning position in the marketplace.
In a previous life:● Affinnova● Internet Venture Works● Airwalk
robert.wallace@tallwave.com
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AGENDA
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• Myth 1: You need a PR firm or ad agency to launch your startup.
• Myth 2: (a) You should focus on product and sales before thinking about marketing, (b) A great product alone solves all my marketing problems.
• Myth 3: Investors don’t care about branding and marketing.
• Myth 4: You need a CMO or VP of Marketing to market your startup.
THE MYTHS
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MYTH #1: YOU NEED A PR FIRM OR AD AGENCY TO LAUNCH YOUR STARTUP
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MISCONCEPTION
Marketing is only about awareness.
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REALITY #1
Advertising is not marketing.
Neither is PR.
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THE TRUTH: MARKETING IS ABOUT REVENUE
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TIPS:
1. Focus = Strength
2. Use cheap marketing tools such as MailChimp, Sprout Social, Pr.co, JustReachOut, Mixrank, PromoJam
3. Tap into inexpensive resources such as Elance, fiverr, or oDesk
4. Measure everything, and experiment until you see what works
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MYTH #2a: YOU SHOULD FOCUS ON PRODUCT AND SALES BEFORE THINKING
ABOUT MARKETING
MYTH #2b: A GREAT PRODUCT ALONE SOLVES ALL MY MARKETING PROBLEMS
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MISCONCEPTION: THESE GUYS DID IT!
“Uber is such a great experience it markets itself.”
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Marketing is hard, non-sexy, work.
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THE TRUTH:
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TIPS:
1. Focus on how you plan to get to revenue for your company - forcing product, marketing, and sales to be at
the table.
2. Map the detailed customer journey from the moment they purchase/use your product backwards.
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MYTH #4: INVESTORS DON’T CARE ABOUT BRANDING AND MARKETING
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MISCONCEPTION
Branding is just about logos and colors.
Marketing is just about spending money.
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“GREAT BRANDING ISN'T JUST ABOUT THE PRODUCT YOU'RE SELLING NOW, BUT ABOUT
MAINTAINING THE SALES MOMENTUM INTO THE PRODUCT YOU'LL BE SELLING TOMORROW.”
BEN MACK, THINK TWO PRODUCTS AHEAD
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Investors want to invest in companies that can win in the marketplace.
Branding and marketing are critical facets to doing that.
TRUTH: YOUR FOUNDATION FOR GROWTH
AND RAISING MONEY EXISTS IN YOUR POSITIONING STATEMENT
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Wholesalefund to Shelvspace – Company Rebrand & Reposition
There is no clear solution for brands looking to integrate, optimize and measure
their local, social and mobile marketing & sales efforts in the digital out of home
(DOOH) marketplace.
Clearly Articulate the Problem You’re Solving
Define Your Position, Differentiate Your Solution, Create New Markets
“Company Name” is the social out of home (SOOH) media company.
Unlike traditional and next generation DOOH solutions that deliver impressions
and actions; the “Company Name” media network delivers impressions, creates
consumer engagement and drives leads and sales by integrating local, social
and mobile marketing for brands, agencies and dooh networks via a single
platform.
• STRATEGY: CURRENT COMPETITION
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TIP:
THE FIVE ELEMENTS OF A POSITIONING STATEMENT (AKA YOUR MARKETING STRATEGY)
“Company Name” is the leading type of company that provides unique benefit to target customers.
Unlike competitors, company does unique differentiator(s).
MYTH #4: YOU NEED A CMO OR VP OF MARKETING TO LAUNCH YOUR STARTUP
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MISCONCEPTION
“As the founder/CEO, I don’t have time to do marketing myself.”
“I’m not a marketing person.”
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REALITY #2
A startup’s marketing strategy is too important NOT to be owned by the
founder/CEO.
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• Defines your business
• Defines who you are and who you are not
• Foundation for how you address the marketplace
THE TRUTH: Your startup’s brand, positioning, and messaging matter...a lot.
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TIPS:
1. Spend the time and effort to nail your positioning statement, messaging, and marketing objectives.
2. Understand what marketing metrics are driving your business.
3. Hire more junior marketers to execute and test different tactics until you know what’s working and what’s not.
AN INTENSIVE 2-WEEK BRANDING + MESSAGING SPRINT
Articulate a compelling story around your unique value
Stake claim to a differentiated position in the market
Reduce confusion with your target stakeholders
Package your company for sales and fundraising
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Questions?
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PRESENTED BY:
Myths & Truths - Building a Product
January 28, 2015PRESENTED BY:
PRESENTER:ROBERT WALLACE
EVP MARKETING, TALLWAVEROBERT.WALLACE@TALLWAVE.COM