Marketing for startups_microsoft_academy_shira_abel_2014
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The talk I just gave at the Microsoft Academy about Marketing for Startups.
Transcript of Marketing for startups_microsoft_academy_shira_abel_2014
- MARKETING FOR STARTUPS! Yes, your mom is excited, but is anyone else?!
- @shiraabel Marko Jovanovich! Engineering! Shira Abel! Marketing / Strategy! Ivana Buric! Design! + An amazing team of developers, designers, UX, UI, copywriters, ! & content writers! Partners!
- @shiraabel Clients!
- ! CEO, Hunter & Bard! ! Marketing strategy! ! Marketing implementation! ! Full branding & design! ! Teach Marketing for Startups at StartHub (Tel Aviv/ Jaffa Academic College)! ! Mentor at: Google, Microsoft, Founder Institute, Seedcamp, & more! ! MBA, Kellogg School of Management! Shira Abel
- BEFORE AFTER DOUBLED VIEWS & REVENUE! We Help Companies
- A true unfair advantage! is something that cannot! be easily copied or bought.! ! - Jason Cohen! @shiraabel!
- Agenda! ! Strategy! ! Alpha! ! Launch! ! Web / Tablet vs. Mobile! ! Building Marketing Into the Product! ! Branding! ! Product market t! ! @shiraabel!
- @shiraabel alpha!
- 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 (cost, messaging, bundle mix, etc.). Mobile ads app/ Ads landing page! Get to know inuencers & media people on Twitter. Give a lot. Dont ask for anything.! 1! 2! 3! @shiraabel!
- How to Test Your Idea - Web! ! Create a Minimal Viable Product MVP! ! Thisll be ugly and basic! ! Take people through the motions! ! Ads to landing pages to test messages see what people click on! ! Can build an entire product & takem down to BUY! ! Once product/market t has been reached do a Big Launch ! @shiraabel!
- How to Test Your Idea - Mobile! ! Create a rough app & have friends & family test via Testight (very beginning)! ! Make a MVP and launch in the app store of a smaller country only! ! Create a Minimal Viable Brand ! ! Purpose Why do we exist! ! Positioning Where do we t in the market! ! Personality How do we tell that story*! ! Once product/market t had been reached, build the main app and do a Big Launch ! @shiraabel!
- Alpha Phase! ! Start the blog with newsletter sign up (think Danielle Morrill & Mattermark)! ! Landing pages more sign ups! ! A/B test messaging & optimization using unbounce.com or launchrock.com (more sign ups)! ! Social outreach starts to the media! The point is to begin building an interest and an audience through good content before launch! @shiraabel!
- @shiraabel launch!
- Launch! ! Ask the media people and inuencers 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, DLD, etc)! ! Send an announcement to the list youve been growing through the blog, ads, and social! ! Attempt an act of virility (I say attempt, because nothing is guaranteed)! @shiraabel!
- Whats Your Strategy! @shiraabel!
- Example! @shiraabel! ! ! Business Objective! Improve Financial Performance! Business Metric! Reduce Long-Term Dependence on Ads & Lower Overall Costs! Marketing Metric! Increase Relationship / Content Marketing Raise percentage of trafc from blog versus ads!
- Sample Marketing Strategies for Web! ! Become known as a product leader in a chosen niche (think Martha Stewart home, or Buffer social media management)! ! Increase average purchase rate (in- store recommendations are great for this)! @shiraabel! ! Create evangelists who will bring in a wider client base! ! Increase customer lifetime value by giving information that the customer values (creates loyalty / increases switching cost think Kissmetrics blog)!
- 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)! @shiraabel! ! Have in-app rev- share advertising and go for large numbers (Inneractive, Admob, etc.)! ! Have a free Lite and a Premium Paid version (Lite having advertising Premium having none)!
- Performance Measurement! ! Is your objective SMART: specic, measurable, attainable, realistic & time specic?! ! What are your strategic initiatives?! ! Build awareness! ! Expand distribution (i.e. increase downloads)! ! Build penetration! ! Build buying rate! ! Increase loyalty! ! Funnel e.g. when purchases through the app! ! 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! @shiraabel!
- @shiraabel product / market t!
- AFTER PRODUCT MARKET FIT SEEK TO ACQUIRE MASS USERS! @shiraabel!
- The Holy Trinity of Marke:ng Online GREAT! PRODUCT! Earned Media / PR Relationship Marketing SEO / Ads / Affiliate @shiraabel!
- The Holy Trinity of Mobile Marketing! GREAT PRODUCT! Earned Media / PR! / Reviews! Social Integration! SEO / Ads / ! Localization! @shiraabel! GREAT PRODUCT IS REQUIRED
- Sample Tactics (not in order)! Mobile Ads (FB, Google & in complementary apps)! PR (Media Kit recommended)! Facebook ! Podcast! YouTube! Twitter! Quora! LinkedIn! Blogging! Newsletter / Email (highest ROI of all digital media)! Google+! Games! Forums! White papers / Case studies! Peer review! Seeding posts! Infographics! E-book! Webinars! Community! Guest blogging ! Teleseminar! Afliate Marketing! Game elements (e.g. leader board, 80% signed up, awards for actions)! SEO / SEM! Pinterest! Blog commenting! @shiraabel!
- Earned Media & PR! ! Brings big numbers all at once! ! Gives a spike of trafc! ! 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! @shiraabel!
- Afliate, SEO & Media Buy (Ads)! ! Immediate! ! Targeted! ! Mobile has a stronger conversion than web! ! Strongest conversion is mobile FB! ! Costs (which is ne if you charge, could be a dilemma if youre free)! ! Doesnt build a relationship ! ! Has the lowest trust rate! ! Afliate 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! ! One key point social needs to be built into the product! @shiraabel!
- @shiraabel behavioral engineering!
- Simplicity changes behavior.! - BJ Fogg! @shiraabel!
- T-shirt Economy! @shiraabel!
- T-Shirt Economy! ! Reputation based! ! Incentives are about doing something for the love of it NOT nancial reward! ! Easier to get someone to do something for free than for less money (e.g. lawyers would rather do pro bono than get paid less per hour for the same work)! ! Changes the way we perceive the work we do! ! When we already have our basic needs met, were more likely to do something for our own joy! ! This is where the evangelists should be thats why not paying them is a good thing!
- Financial Economy! @shiraabel!
- Financial Economy !! ! People judge if something is worth their time! ! Become less enthusiastic if the work is not paid according to expectations! ! Make sure incentives are aligned with goals! ! Proven to be a bad way to build incentives to get people to work harder! ! Studies have shown that for cognitive work, a larger reward results in worse results ! ! Loss aversion, however, brings better results! ! This will affect the afliates the most!