Components of a Startup Marketing Plan

Components of a Startup Marketing Plan

When I ask startup folk if they have a “Marketing Plan” I get a range of reactions from a slightly embarrassed “Yeah we probably should have one but we aren’t doing much marketing so…” through to the more assertive, “Dude we don’t do plans, because we’re like, you know, a startup!” At my first startup we didn’t have a marketing plan. We were a small team working on short-term tactical projects. Those tactics changed every couple of weeks and we didn’t see a need to document anything. My first encounter with a marketing plan came after we were acquired by a global company. The experience was awful. The plan was done yearly and had 50 sections, starting with a (completely arbitrary) revenue goal and drilling all the way down to every specific tactic (including PR, email, advertising, events, everything) to be executed across the entire year. The most frightful thing about the Marketing plan was that it wasn’t approved until March, and by June we’d started building the plan for the following year. The exercise seemed pointless to me. At my next startup however, I found that there were moments when I missed pieces of that marketing plan. I missed having a work plan that tied the schedules for content creation, campaign execution and sales enablement together. I missed having the clarity of approved campaign components like target markets, messaging and goals (at least for the next month or so), and I found I needed a revenue model that mapped my lead generation plan to expected revenue. I wanted a plan that kept the good bits of the big company plan and...
Marketing Strategy Hacks for Startups

Marketing Strategy Hacks for Startups

I do a lot of coffee meetings with founders looking for marketing advice. Most of the time people have a specific marketing problem but occasionally I meet with frustrated founders complaining that everything they’re doing on the marketing and sales side just simply isn’t working. Let’s put aside the very real possibility that there is a fundamental product or product/market fit problem (a big assumption but work with me on this one) – is it possible your marketing/sales strategy is getting in the way of the success of your company? In my opinion, yes that’s very possible. Can you hack your way out of this mess? Yes, again. OK, not always, but it’s worth poking around at a few things to see if it’s fixable.  If I was in charge of marketing for a company in that situation, here are a few things I would try: Hack the Definition of Your Buyer If you are selling to businesses there is often a separation between users, economic buyers and executives/approvers. Sometimes selling to the folks that hold the budget is the easiest way to get a deal done, but often it can be easier to either sell to the end users (who feel the pain most acutely and can champion your solution to the economic buyer), or the executive team (who might better understand the overall ROI of the solution across the organization). For example – at one company I worked at we started out targeting buyers in IT because they would ultimately be responsible for maintaining the integration of the solution with other systems. However IT saw the solution as risky and...

Positioning for Advantage

I gave a keynote at East Coast Startup Week this week on Startup Positioning. Think of these slides of the skimmable version of my earlier post on Startup Positioning (read that post if you want some color on what these slides are talking about) with the addition of a couple of examples using the template. Plus motorcycles, monster trucks and racing pigs because I know you secretly love all of those things. Enjoy. Positioning for Advantage from April...

A Startup Positioning Template

As a startup marketing exec that has been through a large number of product launches, I believe that how you position your startup in the market is crucial to early startup success. I’ve also seen that very few startups have a firm grasp of what exactly positioning is, why it’s important and how to do it.  A Brief History of Positioning The concept of positioning was first described by Ries and Trout in their marketing classic “Positioning – The Battle for Your Mind”. First published in 1981 this book still frequently shows up on lists of must-read books for marketers. Their idea was that there were two eras that proceeded “The era of positioning” 1/ The Product Era: First we had the product era where simply having a product was enough to ensure that it would be noticed. When there was only one toaster on the market or one vacuum cleaner or one toothpaste – simply putting the product in front of prospects and clearly explaining the features and functionality of that product was enough to make customers listen. 2/ The Image Era – According to Ries and Trout, that era ended with the “image era”. As more and more competitive “me-too” products flooded into the market, it became harder and harder for customers to tell the difference between providers where there were so many similar products with similar features. Brands discovered that image could be a powerful differentiator, convincing buyers that certain products had “more prestige” than others. This Era is represented by the glory days of TV advertising and Mad Men style agencies that could change the fortunes...

A Startup Marketing Framework (version 3)

Years ago when I was consulting for startups, I created something I called “A Startup Marketing Framework“. I used it mainly as a tool to describe the kinds of things that I could help folks with. Startups found it useful and it is still a popular piece of content on this site. Last week I had a startup pull out a printed version of the framework (from 2011 no less!) and I decided there were a couple of changes I wanted to make to it. Below is the new and improved version 3. Framework Assumptions As with previous versions, the framework does not attempt to cover things that I would consider to be more “Product Management” focused (like product roadmap for example). I’m taking a purely marketing point of view here.  The Framework also assumes that you have a product in market, you feel fairly confident that you have a good fit between your market and your offering and you are ready to invest in lead generation. If you aren’t there yet, there are things here you won’t need to (and more importantly, shouldn’t) worry about yet.   Lastly, my background is B2B marketing so like most content on this site, this has a B2B slant to it.  That said, I think most of it applies to a B2C startup. Market Knowledge Market Category and Segments – Based on your interaction with early customers, these are the segments that have the most affinity for your offering and are the target of your marketing efforts.  These need to be well-defined and very specific.  I’ve had folks ask me where buyer/influencer personas fit and I include those here as part...

Laying a Foundation for Startup Growth

I spoke at an awesome startup event this week called Startup Empire. It was a sold-out conference with a great set of speakers including John Baker from Desire2Learn, Dan Debow from Salesforce, Harley Finkelstein from Shopify and Michael Litt from Vidyard and others. You can scroll down for my slides. I decided to focus on what I think of as the “Foundational Elements” for a successful sales and marketing strategy at a startup. As startup people we’ve heard many, many stories of magic marketing tactics had a big impact on the business. We talk less about the daily grind of testing and discarding failed marketing programs that don’t deliver much of anything. As much as we love stories of specific examples of the hacks that grew successful companies, rarely are those tactics applicable to the business we are trying to run right now. In my experience, starting with tactics is the wrong way to go about it. That’s because perfectly executed tactics layered over a flawed foundation will fail. The Foundational Elements are: Deep customer knowledge – A foundation of customer knowledge is really important. This has to go way beyond “we sell to SMB’s” and should include the unique characteristics of your target customers, their big pain points, where these prospects gather and how they learn about new products and solutions. Messaging – Every campaign and sales call relies on your ability to communicate what you do in a way that gets prospects excited to hear more. That messaging needs to describe your unique value in ways that your customers can easily understand, articulates how you are different...
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