hitmc super laws · 2018-01-18 · unlearn what i learned • big business strategies simply...

Super Laws of Entrepreneurial Marketing

Co-Founder & Chief Data Scientist

Healthcare IT Marketing and PR Conference

My Entrepreneurial Experiences

CRUSH. SMELL. GO

1999

2000

2001

2005

20132015

2016

Unlearn What I Learned

• Big business strategies simply don’t work for shoestring-funded, tactic-focused entrepreneurs.

• Big business has millions to spend on R&D and sophisticated messaging and promotional campaigns to buy market share.

• Entrepreneurs can’t afford to buy success, they must do it the old fashion way--they earn it through creative low-cost tactics.

The Best Practice Checklist

Sharpening the Angle Unique Product Claim Large Addressable Need Dominate the Situation Reason to Believe Quantifiable Support

Leveraging Leverage

Ride HorsesProspect for Beta-GoldminesLand an AnchorSeek Out BenefactorsBuild an Advisory Board

Think Big and Act Bid

Puff it Up Grow with Borrowed InterestMaster Social Media & PublicityGet Your Swagger OnReach Out with CrowdfundingDominate Trade Shows

Launching Tactics

Marketing EventsHave a Love FestCompelling DemonstrationsBuild a Sticky BrandCharge a Value PriceClose the Deal

How smart entrepreneurs quickly go from unique ideas to profitability.

Good Idea

CompetitiveAngle

Profitability

Best Practices Framework

Startup Marketing Essentials Pumping up Competitive Positioning by leveraging Competitive Angles

Digital Copy Found at myeducator.com

Entrepreneurs are tactical (bottom up) not strategic (top down)

Focus on Incremental Innovations

Embrace Creativity Loves Constraints: Think Like David

The Firm Strategy Process

Customers Company Competitors

Target MarketSelection

PositioningMarketSegmentation

Product Place Promotion

Price

CustomerRetention

CustomerAcquisition

Profits

The Marketing Mix

Context

Source: HBS

TopDown

Question: What do we want to do?

Angle

Mobilize Firm’s Resources

Bottomup

Product Place Events

Price

The Marketing Mix

Current Vision

Question: What can we do?

Be Tactical

Art Fry & Spencer Silver

Play-Doh

Created in 1956 as a cleaning substance for wallpaper. Joseph and Noah McVicker struck inspiration when a teacher casually mentioned her dissatisfaction with

tough--to-shape clay

Focus on Incremental Innovations

“Entrepreneurs seldom invent and market unique products; rather, they build their ventures around incremental innovations and modifications.”HBR 1998 The Road well Traveled

“We call this R & D”

Rip Off and Design

Entrepreneurs are David

Think and Act like David

“Am I a dog that you should come to me with sticks?”

Single Combat

Creative Underdog PowerDoes not use Goliath TacticsPlays to StrengthDoes more with less

Philistines Israelites

Goliath

Creativity Loves Constraints!

Plumber

Truck

Creativity Loves Constraints!

Develop a Low-cost Marketing Strategy for Launching Organic Healthy Yogurt

Gary Hirshberg

David Tactics Goliath Tactics

Can You Create an Event to Promote Stonyfield Farms?

A Few Lessons About Being Creative!

Creativity is best when we narrow our focusCreativity loves constraints Work with old things and make them new

Developing Competitive Angles That Make Our Competitors Irrelevant

Me-too Products Allowed

Conventional Wisdom

#1. Beware of crowded markets, to be successful, find a specific ________ market!

Conventional Wisdom

#2. All successful products solve a specific _______ in the market!

Coolest Cooler

Tubing: Reduce Pain or Increase the Pleasure or Fun?

Now That’s Fun

A Competitive Mental Angle is…“An element of differentness that serves a need and…

Sparks a positive personal connection”

“A product or service that lifts people over a personal hurdle that helps them eliminate pain or experience joy that existing products fail to do.”

Find a Hurdle

• Solve a Pain Point or Problem

• Build in Maximum Fun

Elements of Differentness“Make the Tactic Remarkable”

• Double Down: Faster/Better/Cheaper

• Do the Opposite: If everybody is ____ go _____

• Feature An Oddity. If you can’t fix it, feature it.

Stretch to the Extreme!

Throw the Baby of the Bridge

Stretch Running to the Extreme

Highlight Fun point, not pain point

Dirty Dash

Stretch to Extreme for Fun

Modern Toilet

Raising Confidence with Rx Drugs

“This is a goofy idea.” Dr. Jerry Avorn Harvard Brigham and Women’s Hospital

Reach your blood pressure goal - guaranteed or you money back!

Has marketing finally gone too far?

Novartis is the world’s fifth largest drug maker and Diovan is its biggest seller. It is the best-selling blood pressure pill with annual sales topping $4 billion.

Personal Connection

• Humor

• Heart-Personal Relevance

• Support a Cause

• Babies, Kids, Pets

Competitive Angle Priorities

Uniqueness

Large Addressable Need

Dominate Situation

Reason to Believe

Quantifiable Support

Higher Priority

Lower Priority

The Focus is on the Situation, not the Customer

Mini Case: Aprons

Cook with style--retro aprons

Flirty Aprons

Testimonials

Testimonials

Create a Marketing Event

Marketing Events can be activities, exhibitions, hoopla, happenings, gatherings, tournaments, competitions, matches, races, games, etc

Having a focus on throwing Marketing Events reminds us that we are selling a consumption experience and not just a product

Why Marketing Events?

Low cost

Get consumers engaged in your product

Viral--use existing social networks to get momentum

Can create a brand overnight

P&G Says... 1 + 1 =10

Combining a newsworthy marketing event with advertising support pays big dividends!

Positive media coverage [earned media] is 600% more effective than paid for advertisements [paid media]

What are the Profitable Shows on TV?

Create a cheap extreme marketing event to highlight your new lip balm on YouTube

A World Marketing Event

Create an event for a new lip balm.

BGH A/C Marketing Event

Duck Brand Duct Tape

Get Experiential

Make a Compelling Demonstration

Compelling Demonstration!