Entrepreneurial Marketing

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http://www.evisors.com/webinars/webinar/60



Entrepreneurial Marketing

featuring:

James WeissFounder, JBW Advisory & Former Senior Manager at

Hosted by: Caitlin QuanEvisors Marketing & Operations Associate





Agenda

1. About James

2. Tactics vs. Strategy and the money myth

3. Product – market fit, pain, and virality

4. A few resources to help

5. Q&A





About James

“Entrepreneur and Reformed Consultant”

• Have built three businesses, currently building 2 more

• In 2010 started JBW Advisory, helping early-stage companies in media and consumer products / retail

• >6 years post MBA at Bain NYC, Singapore, HK

• Princeton AB, Wharton MBA

• Started career at DreamWorks in LA as a driver to composer Hans Zimmer





Why are you here?

• You’ve launched an entrepreneurial venture and you’re looking for customers

• You’re preparing to launch and you’re thinking about your marketing strategy

• You’re currently a marketer and are interested in how things are different on the other side





Tactics vs. Strategy

Strategy = what’s the plan to build this business

Tactics = how many twitter posts do we need today

Tactics flow from strategy





The myth





Money doesn’t solve the problem

$41MM$340MM

$45MM $135MM

Source: http://techli.com/2012/04/10-greatest-startup-failures/





The real challenges

Product Market Fit

Does my product solve a problem?

Story How do I get people to want to buy my product?

ViralityHow do I get people to tell their friends about my product?





Product Market Fit – it’s easy!





Perhaps not so easy





“A lot of times, people don't know what they want until you show show it to them.”--Steve Jobs









How important is this?

“Do whatever is required to get to product/market fit. Including changing out people, rewriting your product,

moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want

to.” – Marc Andreesen

You can’t market something that people don’t want so much that they’re willing to break current

habits to switch to yours.

Hosted by:See the rest at evisors.com/webinars/webinar/75



You need to listen carefully

Lots of ways to talk to customers

• Surveys

• Google analytics

• Focus groups

• Interviews

• Usability testing

• Yahoo! Answers

• Facebook




Product-Market fit

Lots of ways to talk to customers

• Surveys

• Google analytics

• Focus groups

• Interviews

• Usability testing

• Yahoo! Answers

• Facebook

1. Who are the true customers

2. What is their true need

3. How will you meet that need

4. How much pain is required to switch




Driving Awareness

Marketing







Source: http://www.confusedmatthew.com




Entrepreneurs need to educate to get consideration

Source: http://www.adamhcohen.com




1. A fashion brand

2. Offering value and service

3. With a social mission




There are innumerable tactics to build awareness

Source: http://bit.ly/XnJGce







Before you start thinking tactics…

What’s your story?

• Why are you in business?

• What do you believe?

• What is your value proposition?

• Why is this meaningful to you?

If you can’t tell this story, how will other people tell it for you?




Virality: The marketing holy grail

Source: http://blog.amplifinity.com




What’s “virality” all about?

Virality is:

1. Creating customer experiences delightful enough that people want to tell their friends

2. Making it easy for customers to do so




Virality isn’t new!

Customer references

Word of mouth

Reviews

Sharing




Sharing existed long before Facebook

Source: http://dailymail.co.uk




Sharing existed long before Facebook

Source: http://cocainehelp.promisblogs.com




virality in 3 easy steps®

1. Get your brand into people’s hands

2. Make sure they love it

3. Give them super-easy ways to share (bribes don’t hurt either)







To sample or not to sample?

a) cost of a sample vs. customer lifetime value

b) how much pain and risk are required to try and share




Product love: NPS

Source: http://propertycasualty360.com; Bain & Company


http://propertycasualty360.com/





Sharing in the internet age





• Built the platform for $300,000

• Spent nothing on advertising

• Within 18 months had ~20% of internet users





Get your free, private e-mail @

http://www.hotmail.com


http://www.hotmail.xn--com-9o0a/



PS… the story hasn’t changed




Selfish Plug: MackWeldon




Selfish Plug: MackWeldon




Closing thoughtsGood strategy trumps money and tactics any day of the week.

• Build a product that people really need and want (so you’ll have “pull”), and figure out who those people are

• Tell the story as simply as possible (so you can advertise, publicize, etc. effectively)

• Figure out the obstacles to trial and build around them - remember you’re trying to make a market that didn’t exist,so you must eliminate friction)

• Delight customers, encourage sharing, but remember pain!

• Buy MackWeldon! Contact me for an F&F code




A few resources

• http://blog.kissmetrics.com/ultimate-guide-startup-marketing/

• http://marketingbeforefunding.com

• http://onforb.es/14PMZui

• http://www.slideshare.net/seanomalley/startup-marketing-presentation

• http://www.unbound.com

• http://www.startup-marketing.com/the-startup-pyramid/

• http://www.growhack.com

• http://wp.me/p1FaB8-1JXdHosted by:See the rest at evisors.com/webinars/webinar/75

http://blog.kissmetrics.com/ultimate-guide-startup-marketing/



http://marketingbeforefunding.com/

http://onforb.es/14PMZui

http://onforb.es/14PMZui

http://www.slideshare.net/seanomalley/startup-marketing-presentation

http://www.slideshare.net/seanomalley/startup-marketing-presentation

http://www.unbound.com/

http://www.startup-marketing.com/the-startup-pyramid/

http://www.startup-marketing.com/the-startup-pyramid/

http://www.growhack.com/

http://wp.me/p1FaB8-1JXd

http://wp.me/p1FaB8-1JXd



Questions & Answers




Questions & Answers

Question 1:

How do you effectively market with a small budget and limited resources?

Hosted by:See the answer at evisors.com/webinars/webinar/75



Questions & Answers

Question 2:

When is it time to invest in a dedicated marketing resource?




Questions & Answers

Question 3:

How do you market effectively to women with broad similarities?




Questions & Answers

Question 4:

How do you market a product/service that is unrecognized by customers?




Questions & Answers

Question 5:

How should different marketing activities be prioritized?




Questions & Answers

Question 6:

How do you identify core messages that reflect your brand and resonate with your customers?




Questions & Answers

Question 7:

What are some of the important aspects in B2B marketing?




Connect

Book your one-on-one session with James at

www.evisors.com/expert/689

James WeissFounder, JBW Advisory

He can help you with:• Career Assessment

• Consulting Interview Practice• Resume Development

…and more!


http://www.evisors.com/expert/689



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