Start Up Marketing - Getting first 100 customers on board
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A step by step guide on Startup Marketing for entrepreneurs and startup founders.
Transcript of Start Up Marketing - Getting first 100 customers on board
- START-UP MARKETING A QUICK GUIDE FOR STARTUP FOUNDERS bGET YOUR FIRST 100 CUSTOMERS Shiv Shankar M S Co-founder of Waybeo (bounzd.com) Twitter: @shiv_waybeo All Rights Reserved
- WHAT MOST START-UPS WANT TO BUILD
- WHAT THEY SHOULD BUILD FIRST?
- EVENTUALLY BUILD THIS
- IDEAL START UP LIFE CYCLE IDEA CUSTOMER VALIDATION CUSTOMER DISCOVERY MINIMUM VIABLE PRODUCT FIRST 100 CUSTOMERS (INNOVATORS & EARLY ADOPTERS) CROSSING THE CHASM (SELLING TO EARLY MAJORITY) SCALE, GROW AND SUCCESS PRODUCT-MARKET FIT
- PRIOR TO MARKETING - 2 MUST READs #1 UNDERSTAND THE TERRAIN
- PRIOR TO MARKETING - 2 MUST READs #2 Positioning your Product
- STARTUP MARKETING IN 3 LINES #1 BUILD A REMARKABLE PRODUCT #2 MARKET THE PRODUCT TO PASSIONATE INFLUENCERS #3 BUILD A COMMUNITY WHO WILL PROMOTE TO THE MAJORITY
- HOW TO GET YOUR FIRST 10 CUSTOMERS WHEN YOU LAUNCH(MVP)?
- THE PRODUCT IS THE MARKETING BUILD YOUR PRODUCT THE LEAN WAY. ONCE YOU BUILD THE MVP YOU WILL HAVE MINIMUM 10 CUSTOMERS IN HAND IF NOT YOU MIGHT HAVE DROPPED THE IDEA. FOLLOW CUSTOMER DISCOVERY MODEL
- MAKE A REMARKABLE PRODUCT RUNNING LEAN
- CUSTOMER DISCOVERY Must Read (A sea of free tools and tips for founders): http://steveblank.com/tools-and-blogs-for-entrepreneurs/
- CUSTOMER DISCOVERY
- CUSTOMER DISCOVERY
- What do you do in a day? What other products do you use? What kind of a person are you? What do you love? Hate? What sites/pubs/newsletters do you read? What events do you attend? When do you do your email? Who do you look up to? Who/What do we compete with? If we didnt exist, what would you use? Describe what we do. How do you measure the value we provide? How do you describe the benefit of what we do? What market are we in? How did you know you needed something like our solution? What triggered your search for a solution? Was there anything that would have stopped you from making the purchase? Did you make a short list? Who else was on it? What were your short list and purchase criteria? Did you do research before you bought? Where? Did you talk to anyone before your decision to buy? Who else was involved in the purchase? How? Who Are They? How do They View the Market? How do They Buy? CUSTOMER DISCOVERY questions you ask
- CUSTOMER DISCOVERY The Canvas
- CUSTOMER DISCOVERY TAKE A MINIMUM OF 100 INTERVIEWS BEFORE LAUNCH They all did like this in the Lean Way AirBNB, FlipKart, Mint, Redbus
- ON LAUNCHING MVP YOU WILL Know the pain/problem customer is facing Know WHO IS YOUR CUSTOMER Buyer Persona? Know The worth of your solution Know Their Willingness to pay Find Product-market fit Find the Key Value proposition Have 10 early Stage Customers Find Customer Group that is large enough to build a scalable and repeatable business model.
- So Ready to start marketing & Get the first 100 Customers on board?
- But, STARTUP MARKETING
- BUT IT DOESNT WORK THAT WAY! A few tips to follow to reach 100 customers
- 100 Customers 300 Free Trials 700 Sales proposal 1000 Sales Accepted Leads 1500 Marketing Qualified Leads 10000 Prospects Understand Success Metrics#1 Your marketing must contribute to this funnel
- #2 Do it Yourself. Dont Hire a Marketing VP Atleast till you reach $100K in revenue
- Find the Early Adopters.#3 Try to List atleast 1000 of them Yourself
- #4 Go to your Customer Capital TIP: Sell it for FREE to the leaders in your target segment in every new segment/location
- #5 Dont Waste Resources Dont spend time, energy and money on anything that is not directly impacting your sales and revenue
- #6 Ask for Help! People Do Love to Help, if asked References from other people are the best source of leads always!
- #7 Build a Community! Of Enablers, End Users and Purchasers
- #8 Any PR is good, if its FREE. Analyse the sales impactness of a Paid PR Campaign before jumping into it.
- #9 In Todays Marketing Courage is more important than Experience Try any new marketing strategy, if it excites you, but to a limited test audience. If it works, it will be one of your best blog posts in the future.
- #10 Dont Exhibit at Events, unless you are speaking But do attend events where your Customers come. If No Money to register Feel Free to Try Gate Crashing! All you need is a one time investment for a blazer
- #11 Content Marketing (Inbound) The Free Stuff Create Contents that your Community Loves. Identify it from the Sales process Each Content you create should add something to the sales funnel.
- #12 Pay for Good Design & Content It will pay you back for sure.
- #13 Social Selling Works Wonders 60% of our Sales happened this way Linkedin and Twitter can give more than what you think. Must Read: 42 Linkedin Sales Tips by Insidesales.com http://linkedinsite.files.wordpress.com/2014/02/42-linkedin-tips.pdf
- #14 The Ideal Flow (B2B) 0 10 20 30 40 50 60 70 80 90 100 No:ofCustomers Founder Selling on the Ground Field Sales on Customer Capital Inside Sales & CRM Automation Set the basics for marketing automation
- #15 Learn Lead Scoring & Lead Nurturing You wont get your early adopters, if you dont know How to do this.
- Dont be a Jack Ass Marketer#16
- This is What Google Search Cant Answer You! There are only 2 things You need to Know
- Thats All Friends! Thank You Twitter: @shiv_waybeo Email: [email protected] (www.bounzd.com) All Rights Reserved