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www.nomoneymarketing.org
Frugal Marketing For Startups
October 22, 2009
1
Jessie Paul
www.nomoneymarketing.org
When is frugal marketing required?
1. New business model challengers
2. Old model, new market challengers
high
high
low
low
Rel
ativ
e M
arke
tsha
re
Relative Growth Rate
Mature Champions
Laggards Challengers
Upstart brands take on brands that are larger, more established than themselves
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Section 1: Conceptual Framework
Building Your Brand Architecture
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Think Narrow• This allows you to
operate without mass media
• Enables focused offerings
• One-to-one communication is possible
• You can own a superlative - first/largest/only - in a smaller space
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Defining Your Brand1. WHO AM I?
2. WHY BUY ME?
3. WHY NOT BUY SOMEONE ELSE?
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Cheese or Mousetrap? Core or Surround?
PeopleDelivery Facilities
Price
Country of origin
Executive Management
Vision
Corporate Governance
SURROUND
Delivery Process
Business Benefits
Quality
CORE
Photo Credit: Rennett Stowe
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Core vs Surround Branding
Input Elements
Core Service Attributes
Output Impact
People
Elements that are directly related to service performance
Service Delivery Process
Delivery Facilities
PriceCountry of origin
Executive Management
Vision
Corporate Governance
Environment
Community
Investor Returns
Business Benefits
Industry Development
Sur
roun
d Surround
Core
Quality
No Money Marketing, Jessie Paul, Tata McGraw-Hill
www.nomoneymarketing.org
Infrastructure: •Telecom• Facilities
People: •Domain experts•Process experts
• Framework/ Methodologies:
• For process optimization• Process management•Process quality
VALUE ADDERS – CUSTOMER BENEFITS
Reliability
Cost savings
Increased efficiency/ speed
Ability to identify &/ capture new business opportunities
DIFFERENTIATORS
Business Optimization thro business analytics & domain knowledge
TABLE STAKES
SATISFICERSPhysical & Data Security, Infrastructure
WHO AM I?
WHY BUY ME?
WHY NOT BUY SOMEONE ELSE?
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Section 2: Why the Flat World Matters
Determining Your Eco-system
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Flat World Trends
1.2.3.
The market is very small: You have a target audience of one4.Advertising is free: But getting it is hard work
Digitization, Globalization: People are buying things they cannot see
The world is interconnected: Everyone is a journalist, opinion-maker and salesperson!
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IndividualsInterconnected
Marketing changes in the Flat World
Location-specificLocation-independent
Customers
Access controlledEasily accessible
At costFreeInformation
One way2-way, interactive
LagInstantaneous
Opt outOpt-in
At costFreeCommunication Old WorldFlat World
No Money Marketing, Jessie Paul, Tata McGraw-Hill
www.nomoneymarketing.org
Own your eco-system
Industry Associations
Analysts
Consumer Reports
Consulting Firms
Sourcing Advisors
Other Customers
Journalists
Expert Users
Government
Academics Internet Pundits
Friends & Family
Employees
SalespersonDecision Maker
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Section 3: Building Your Brand
Determining the Levers and Brands
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Leveraging resources for smart branding
Thought LeadershipPRAwardsOnline presence
• Executive Branding• Pricing• Country of Origin• Sustainability Ch
anne
ls
Leve
rs
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Executive Branding
MyBo
YouTube
MySpace
Barack Obama
Create a brand blueprint
Stars are created, not born
Be accessible
Have a point of view
Be everywhere
Spend your time generously
Photo Credit Jurvetson
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Price as a differentiator
Pricing is about perceived value
Use Extreme Pricing – Either Low-cost or
Premium
Consumers associate high prices with high
quality
Pricing depends on ability to experiment
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You can CHOOSE your home country
Does your “home” add value or detract?
Have you invested in relationships at home?
How much of national flavour is differentiating and
not overbearing?
Lever: Country of Origin
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Sustainability
PartnersCommunity
Customers
Suppliers
Employees
Bio-diversity
Waste Water
Energy
WIPRO
All other things being equal, consumers would prefer a “green” offering
Regulations will drive greener practices
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Leveraging resources for smart branding
Thought LeadershipPRAwardsOnline presence
• Executive Branding• Pricing• Country of Origin• Sustainability Ch
anne
ls
Leve
rs
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Thought Leadership
Analysts CustomersJournalistsExpert Users EmployeesSalesperson
Thought Leadership
Useful information on latest trends and how it affects them
Door-opener to have a non-sales business discussion with a prospect
Reassurance that their organization is on the cutting-edge
Current developments that can trigger exclusive stories
Information on how the latest trends can benefit their business
Allows an intellectual dialogue on recent developments
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PR
Be contrarian
Be different in the context
Use controversies
Personal touch
Information is cheap. Insight is rare.
Swiss Spaghetti Harvest
BBC Panorama, April 1, 1957
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Awards
Awards add credibility
Win awards
Give awards
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Online Media
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YouTube
Co-branded portal
Second Life
Wipro
Everyone can be a broadcaster. Free.
Build a hub-and-spoke model
You can’t always “own”. Rent.
Instant responses.
Everyone can have an opinion. Trust is the differentiator.
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Section 4: Conclusion
Some tips and ideas for building the next superbrand
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Channels: Build vs Buy• Customize mass-media
to be more narrow eg “power-jackets”, IP-based targeting
• Negotiate your own packages
• Operate with a “mall-and-mainstreet” approach to online media
• Create your own customer community
• Institute an award
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• Globally distribute the marketing team
• Move work to where it is done best
• Consider “unusual” markets
Think Global
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Think Interesting• Information is cheap,
insight is rare• The cardinal sin in
today’s world is to be boring
• Do innovative stuff and you will get a disproportionate share of buzz
Source:http://scrapetv.com/News/News%20Pages/Business/Pages/Microsoft%20mulls%20name%20change%20to%20Megahard.html
27
www.nomoneymarketing.org
5 Tips for Frugal Marketing
Create Your OwnMarketing Channels
Insights vs Information Go OnlineOwn the
Eco-system
Define your
Audience Narrowly
1 2 3 4 5
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www.nomoneymarketing.orgwww.jessiepaul.comwww.twitter.com/jessie_paul
[email protected]@wipro.com