Marketing for Startups

In the beginning, no one cares.Well, your mom cares.

But that’s about it.

• CEO, Hunter & Bard• Teach Marketing for Startups at

StartHub (Tel Aviv/ Jaffa Academic College)

• 10+ years in marketing • EMBA from Kellogg School of

Management, Tel Aviv University Branch

• Lectured worldwide on digital marketing

• Cover Israeli startups for TNW

Shira Abel

The Wrong Way to Do Marketing

Build product

Oh sh#t – we’re launching – we should do some PR

Run alpha test with friends and family

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Our product is so awesome we don’t need to do marketing3

OR

@shiraabel

MARKETING SHOULD START THE MOMENT THE PRODUCT IS CONCEPTUALIZED

@shiraabel

Marketing for the Concept Phase

Build the marketing into the product. Create an incentive to share. Make sharing easy.

Test assumptions. Do ads to landing pages.

Get to know influencers & media people on Twitter. Give a lot. Don’t ask for anything.

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@shiraabel

Strategy - Define Your Objective@shiraabel

Performance Measurement

What is your objective (SMART: specific, measurable, aggressive, realistic & time specific)?

What are your strategic initiatives?Build awarenessExpand distributionBuild penetrationBuild buying rateIncrease loyalty

FunnelWhere do you want people to go?What action do you want people to take? Track the movementConversion rate / A/B TestingTest & iterate

@shiraabel

What’s Your Strategy

@shiraabel

Sample Marketing Strategies for Web Products• Become known as a

product leader in a chosen niche (think about crossing the chasm)

• Increase average purchase rate (in-store recommendations are great for this)

• Create evangelists who will bring in a wider client base

• Increase customer lifetime by giving information that the customer values (creates loyalty / increases switching cost)

@shiraabel

Sample Marketing Strategies for Apps• Create several free

apps that have in-app advertisements directing to your paid app

• Have your free app represent a much larger service (store, blog, service, company this is where the monetization is)

• Have in-app rev-share advertising and go for large numbers (Interactive, Admob, etc)

• Have a Lite Free and a Premium Paid version (Lite having advertising – Premium having none)

@shiraabel

Sample Tactics (not in order)• PR (Media Kit recommended)• Facebook • Pinterest• YouTube• Twitter• Quora• LinkedIn• Blogging• Newsletter• Google+• Blog commenting• Games• Forums

• White papers / Case studies• Peer review• Seeding posts• Infographics• Forum• E-book• Webinars• Community• Guest blogging • Podcast• Teleseminar• Affiliate Marketing• Game elements (e.g. leader

board, 80% signed up)

@shiraabel

Alpha Phase

Start the blog (if it’s web based) with newsletter sign up

Landing pages more sign ups

A/B test messaging & optimization using unbounce.com (more sign ups)

Social outreach starts

The point here is to build interest and an audience before launch with good content

@shiraabel

Launch 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 you’ve been growing through the blog and social

Attempt an act of virility (cause nothing is guaranteed)

@shiraabel

IN THE BEGINNING YOUR MAIN GOAL IS TO ACQUIRE USERS

@shiraabel

The Holy Trinity of Marketing Online

GOOD PRODUCT

Earned Media / PR

Pull MarketingSEO / Ads /Affiliate

@shiraabel

Earned 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 isn’t the target market, but it’s what VCs read & gives social proof)

Has a strong trust rate

@shiraabel

Affiliate, SEO & Media Buy (Ads)

Immediate

Targeted

Costs (which is fine if you charge, could be a dilemma if you’re free)

Doesn’t build a relationship

Has the lowest trust rate

Affiliate needs to be well vetted in order to not destroy the brand

@shiraabel

Relationship Marketing

Takes time

Builds the brand

Costs (yes, time is money)

Builds a relationship

Increases referral rate

Doesn’t work as well for mobile apps – better for platforms and browser plays

Content can be SEO’d

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Viral If You Can

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Know Your Market

@shiraabel

ONCE PEOPLE START TO COME – HOW DO YOU GET THEM TO STAY? FURTHERMORE, HOW DO YOU GET THEM TO COME BACK? AND SHARE?

@shiraabel

Questions for the Retention Phase

Where is the funnel going through the site?

What action triggers can induce them to come back?

Where are you losing the customer?

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@shiraabel

HOW DO I ENCOURAGE PEOPLE TO SHARE?

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Give Good Content

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Give an Incentive

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Give a Warm Fuzzy Feeling

Build a community

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Give Them the Freedom of Expression

Reviews

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Make it Easy for Them

Make sharing a part of the product experience

@shiraabel

Turn It Into a Game

Give an incentive for people to share (leaderboard, badges, etc…)

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Give Them Social ProofRatings

@shiraabel

THE Best Review Of All Time

The Mountain Three Wolf Moon

Short Sleeve Tee

@shiraabel

Close Running

BIC Cristal For Her Ball Pen

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Reputation Economy

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Watch the FunnelAcquisition –

Learns About ProductConversion –

Signs UpRetention –

Uses Product

WOM (Sharing)

Buys

@shiraabel

Hat tip:

Take AwaysMarketing starts the second you have an idea for a product / service / business

Every tactic taken should be with a goal in mind

Social is more than just engagement – it’s listening and reacting to criticisms

Listen & respond, you’ll get a better product & happier customers

Opt-in is more powerful than push

Call to action gets you more

Follow the trail to see where you’re losing people along the buying path

THANK YOU

@shiraabel

References & Reads

http://www.quora.com/Udemy/How-did-Udemy-get-11-000-courses-online-so-quickly

http://www.amazon.com/Mountain-Three-Wolf-Short-Sleeve/product-reviews/B002HJ377A

http://www.amazon.com/BIC-Cristal-1-0mm-Black-MSLP16-Blk/dp/B004F9QBE6

http://www.youtube.com/watch?v=7QmCUDHpNzE

http://www.youtube.com/watch?v=ZUG9qYTJMsI

http://www.macadamia-apps.com/app-launch-7-mistakes-to-learn-from/  

http://flowingdata.com/2011/09/18/yoda-pie-chart/

http://blog.bitly.com/post/9887686919/you-just-shared-a-link-how-long-will-people-pay

http://www.briansolis.com/2011/09/whats-the-r-o-i-a-framework-for-social-analytics/

http://www.slideshare.net/setlinger/altimeter-social-analytics081011final

Breakthrough Marketing Plans

http://www.seomoz.org/blog/tracking-the-roi-of-social-media

http://blog.inner-active.com/2011/04/a-complete-list-of-app-stores-across-all-mobile-platforms/

http://ideas.deloitte.ca/blog/2011/09/social-media-going-beyond-roi/

http://www.jeffbullas.com/2011/09/20/the-10-key-mistakes-many-bloggers-and-writers-make/

http://www.jeffbullas.com/2011/03/01/the-10-best-facebook-campaigns/

http://www.facebook-studio.com/

http://www.seomoz.org/blog/tracking-the-roi-of-social-media

http://marketingfortomorrow.com/tag/marketing-tone/

@shiraabel