social marketing for startups

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  • Leveraging Viral Marketing Strategies January 17, 2012
  • Agenda Introductions (Viral) Marketing Defined: Lora Sarah Hodge: $0 Marketing Game Rob Ciampa: Video Killed the TV Star Bill Band: Social Goes B2B Laurel Ackerman: Sleep goes social
  • Marketing is EvolvingThe Evolution of Marketing Up to 1980ies: Marketing the past 1980-1990ies: Marketing the present 2000+: Marketing the futureMarketing the future: Products/services are never finished Products/services never stand alone
  • 2000ies: What People Buy Promise that the brand will continue to deliver now and in the future Trust = the belief that a brand is capable of delivering now and in the future
  • The Relationship Era 3.27 million hits in Google I love. 2.7 million hits in Google 1.19 million hits in Google 21,000 hits in Google not. 7,900 hits in Google
  • Building a BrandThe new currency of commerce = trust Trust Transactions Source: Imc2: Brand Sustainability Map 6
  • Building a Brand = ValueCreation Company: Customer: Left-Brained Right-Brained Revenue Validation Profitability Coolness Cost savings Reputation Effective process EmpowermentMarketing response rate Accomplishment % of gross margin Community Customer sat. scores Justice/ Fairness Source: Paul Greenberg @pgreenbe, CRM at the Speed of Light
  • New Business Model =Customer Love Deliver WOW through service Embrace and drive change Create fun and a little weirdness Be adventurous, creative, and open-minded Pursue growth and learning Build honest and open relationships with communication Build a positive team and family spirit Do more with less Be passionate and determined Be humble
  • Why Startups Fail Startups fail because the dog wont eat the dogfood. Jeff Schwartz Bain Capital Ventures August, 2006 Source: Mike Troiano @MikeTrap, Holland Mark 2011 HOLLAND-MARK. ALL RIGHTS RESERVED.
  • Lean Startup Philosophy Most startups fail because they waste $$ building and marketing a product that not enough people want Instead, actively test customer needs and formulate hypotheses about business model Then launch early with a minimum viable product (MVP), i.e., smallest feature set needed to test a hypothesis Its not a test if you cant fail Pivot when a hypothesis is disconfirmed i.e., revise hypothesis then rapidly test it with another MVP Repeat process until hypotheses are fully validated and you have product-market fit Dont test revenue models or scale aggressively until you have product-market fit
  • Examples Used a video of a non- Started as a platform for existent product to gather gathering support using feedback tipping points Formulated hypotheses Customers told them that about features and tested the idea was too abstract them rapidly and unfocused Changed marketing The company almost ran approach and feature set out of money when hypotheses were Found that only one disconfirmed by market aspect was working, feedback group deals
  • Examples Payment system for PDAs Massively multi-player game Video-dating site Automated email recommendation service Podcasting (as Odeo)
  • Defensible PositionTo define the defensible place for your company: What are your competitive advantages? What existing set of solutions/ways of doing things will you be replacing? Where can you bring sustainable differentiation? Who has a stake in your success? How can you gain access to the market? 13
  • Viral Marketing Principles Product-market fit Passionate, driven teams Your edge = your unique shtick Shareability = coolness, customer empowerment, accomplishment and community
  • Next: Expert Insights Sarah Hodges/RunKeeper: using social sharing and psychological triggers to build a 7 million following Rob Ciampa/ Pixability: riding the video wave from B2C to B2B, when timing is everything Bill Band/ Forrester: the social B2B sale Laurel Ackerman/Zeo: on crossing the early adopter chasm
  • The Experts Sarah Hodges, Director of Marketing, RunKeeper, @sarahhodges Rob Ciampa, VP of Marketing, Pixability, @robciampa Bill Band, Vice President, Forrester, @waband Laurel Ackerman, VP of Marketing, Zeo, @laurala Lora Kratchounova, Principal, Scratch Marketing + Media, @scratchmm