Marketing for Startups - By Shira Abel of Hunter & Bard

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A high level overview of what startups should know about marketing. This guide is especially good for engineers who need a basic understanding of what marketing should be doing. Talk given at the Microsoft Azure Accelerator on October 9, 2012

Transcript of Marketing for Startups - By Shira Abel of Hunter & Bard

  • 1.Marketing for StartupsIn the beginning, no one cares. Well, your mom cares. But thats about it.

2. Shira Abel CEO, Hunter & Bard Teach Marketing for Startups atStartHub (Tel Aviv/ Jaffa AcademicCollege) 10+ years in marketing EMBA from Kellogg School ofManagement, Tel Aviv UniversityBranch Lectured worldwide on digitalmarketing Cover Israeli startups for TNW 3. @shiraabel The Wrong Way to Do Marketing1Build product2Run alpha test with friends and family Oh sh#t were launching we should do3some PR O R Our product is so awesome we dont need to3do marketing 4. @shiraabel MARKETING SHOULD START THE MOMENT THE PRODUCT IS CONCEPTUALIZED 5. @shiraabel Marketing for the Concept Phase 1 Build the marketing into the product. Create an incentive to share. Make sharing easy. 2 Get to know influencers & media people on Twitter. Give a lot. Dont ask for anything. 3 Test assumptions. Do ads to landing pages. 6. @shiraabelStrategy - Define Your Objective 7. @shiraabelPerformance Measurement What is your objective (SMART: specific, measurable, aggressive, realistic & time specific)? What are your strategic initiatives? Build awareness Expand distribution Build penetration Build buying rate Increase loyalty Funnel Where do you want people to go? What action do you want people to take? Track the movement Conversion rate / A/B Testing Test & iterate 8. @shiraabel Whats Your Strategy 9. @shiraabelSample Marketing Strategiesfor Web Products Become known as a Create evangelistsproduct leader in a who will bring in achosen niche (think wider client baseabout crossing the Increase customerchasm)lifetime by giving Increase averageinformation that thepurchase rate (in-customer valuesstore (creates loyalty /recommendations are increases switchinggreat for this) cost) 10. @shiraabelSample Marketing Strategiesfor Apps Create several free Have in-app rev-shareapps that have in-app advertising and go foradvertisementslarge numbersdirecting to your paid(Interactive, Admob,app etc) Have your free app Have a Lite Free and arepresent a much larger Premium Paid versionservice (store, blog, (Lite having advertisingservice, company Premium havingthis is where the none)monetization is) 11. @shiraabelSample Tactics (not in order) PR (Media Kit recommended) White papers / Case studies Facebook Peer review Pinterest Seeding posts YouTube Infographics Twitter Forum Quora E-book LinkedIn Webinars Blogging Community Newsletter Guest blogging Google+ Podcast Blog commenting Teleseminar Games Affiliate Marketing Forums Game elements (e.g. leader board, 80% signed up) 12. @shiraabelAlpha PhaseStart the blog (if its web based) withnewsletter sign upLanding pages more sign upsA/B test messaging & optimization (more sign ups)Social outreach startsThe point here is to build interest and anaudience before launch with good content 13. @shiraabelLaunch Phase Ask the media people and influencers who now know you if they would be willing to check out your product & give feedback PR on a slow news day (avoid days where Apple announces anything, election days, CES, etc) Send an announcement to the list youve been growing through the blog and social Attempt an act of virility (cause nothing is guaranteed) 14. @shiraabel IN THE BEGINNING YOUR MAIN GOAL IS TO ACQUIRE USERS 15. @shiraabelThe Holy Trinity of Marketing Online Earned Media / PRGOOD PRODUCT SEO / Ads / Pull Marketing Affiliate 16. @shiraabelEarned Media & PR Brings big numbers all at one Gives a spike of traffic May not be aimed at the target market (i.e. much of the time TechCrunch isnt the target market, but its what VCs read & gives social proof) Has a strong trust rate 17. @shiraabelAffiliate, SEO & Media Buy (Ads) Immediate Targeted Costs (which is fine if you charge, could be a dilemma if youre free) Doesnt build a relationship Has the lowest trust rate Affiliate needs to be well vetted in order to not destroy the brand 18. @shiraabel Relationship MarketingTakes timeBuilds the brandCosts (yes, time is money)Builds a relationshipIncreases referral rateDoesnt work as well for mobile apps better for platforms and browser playsContent can be SEOd 19. @shiraabel Viral If You Can 20. @shiraabel Know Your Market 21. @shiraabel ONCE PEOPLE START TO COME HOW DO YOU GET THEM TO STAY? FURTHERMORE, HOW DO YOU GET THEM TO COME BACK? AND SHARE? 22. @shiraabel Questions for the Retention Phase 1 Where is the funnel going through the site? 2 Where are you losing the customer? 3 What action triggers can induce them to come back? 23. @shiraabel HOW DO I ENCOURAGE PEOPLE TO SHARE? 24. @shiraabel Give Good Content 25. @shiraabelGive an Incentive 26. @shiraabel Give a Warm Fuzzy Feeling Build a community 27. @shiraabelGive Them the Freedom ofExpressionReviews 28. @shiraabel Make it Easy for ThemMake sharinga part of theproductexperience 29. @shiraabel Turn It Into a GameGive anincentive forpeople toshare(leaderboard,badges, etc) 30. @shiraabelGive Them Social Proof Ratings 31. @shiraabelTHE Best Review Of All TimeThe Mountain Three Wolf MoonShort Sleeve Tee 32. @shiraabelClose Running BIC Cristal For Her Ball Pen 33. @shiraabelReputation Economy 34. @shiraabel Watch the Funnel Acquisition Learns About Product Conversion Signs UpRetention Uses ProductWOM(Sharing)Buys 35. Hat tip: 36. @shiraabel Take AwaysMarketing starts the second you have an idea for a product / service/ businessEvery tactic taken should be with a goal in mindSocial is more than just engagement its listening and reacting tocriticismsListen & respond, youll get a better product & happier customersOpt-in is more powerful than pushCall to action gets you moreFollow the trail to see where youre losing people along the buyingpath THANK YOU 37. @shiraabelReferences & Reads Breakthrough Marketing Plans