Marketing Strategy Hacks Presentation

I gave a talk at the Unbounce Conversion Road Trip this week. It was an awesome event with amazing speakers. I decided to go a bit deeper into my thinking around how you would test the underlying assumptions in your marketing strategy, in particular which buyers you are targeting and what market you are positioned in. There is a bunch of new content here that I’ll blog about in the future but in the meantime, here’s the deck. Marketing Strategy Hacks from April...
Startup Marketing in New Vs. Established Markets

Startup Marketing in New Vs. Established Markets

Established markets and new markets are not the same so the way that you market and sell to them is different. For startups, it’s really important to know the difference. For each type of market are using different marketing tactics, executed in different ways with different expected results. New versus Established Markets – The Problem Gap In an established market, there are prospects out there that understand that they have a problem that needs to be solved. There will also be prospects actively in the process of learning about, shopping for and purchasing solutions. In new markets, prospects are blissfully unaware that they even have a problem. They aren’t researching solutions or shopping for solutions to a problem that they don’t know they have. If we think about a typical buyer journey we can see that in new markets, the bulk of buyers are starting at a different starting point than the buyers in a more established markets.   Creating Demand VS. Capturing Demand So how are the marketing tactics different for these different markets? For new markets the first job of marketing is to educate your target segment that there is a problem to be solved in the first place. This is counterintuitive for many startup who would rather jump in and talk about why their solution is better than other solutions. Until prospects believe they have a problem to solve, efforts to market solutions will be really ineffective. Why should I care about your solution? I don’t even have that problem! When there is no demand for your solution, tactics that we typically use to capture existing demand are ineffective. People...
When Describing Your Startup as “Uber for X” is a Big Mistake

When Describing Your Startup as “Uber for X” is a Big Mistake

Describing what your startup does, particularly when that product is something the world has never seen before, is hard. One of the first steps in positioning an offering is to establish a frame of reference for prospects or investors. By describing your offering as being similar to something else, you can build on what prospects already know and use that to help them make the leap to understanding what you’ve got. The idea of a “High Concept Pitch” for startups has been around for a while. I fist saw this in a Venture Hacks post (from 2008) that outlined it as a way to “describe the company’s vision on the back of a business card”. Some examples given were: Friendster for Dogs (Dogster) Flickr for video (YouTube) The Firefox of media players (Songbird) While looking back at these specific example is entertaining (who would compare themselves to Friendster? Imagine YouTube positioning itself against Flickr? What does “the Firefox of” mean anyway?), this method for describing a startup continues to be super popular. A MarketWatch study recently analyzed AngelList profiles of startups and determined Airbnb, Uber and LinkedIn were the top 3 companies used to describe a new company.   As popular as this approach is, there are also some ways that this positioning could be not just ineffective, but downright harmful for your company. Here are some things to consider: Positioning for a VC pitch is not the same as positioning for a prospect Whether or not a pitch works depends a lot on the audience and what they are hoping to get out of it. The “Uber for X” pitch works best for a...

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...
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