The Secret Sauce of Startup Marketing - PayPal

Kerry Reynolds@KReynoldsCA

@PayPalCA#FinTechDay

©2015 PayPal Inc. Confidential and proprietary.

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8%Only 8.2% of digitally active consumers have used at least two FinTech products within the past six months.• This is compared to 15.5% globally.

• Canada is ranked #6 behind HK, US, SG, UK and AU,

Source: Ernst & Young LLP’s FinTech Adoption Index.

©2016 PayPal Inc. Confidential and proprietary. 3

57%of Canadians who regularly use digital devices say they were unaware that FinTech products exist.The biggest reason cited behind the low adoption rate is Canadians not knowing what products and services are available.

Source: Ernst & Young LLP’s FinTech Adoption Index.


MY PRODUCT IS BETTER THAN MY COMPETITOR’S. WHY AM I NOT THE TOP RANKING IN GOOGLE SEARCH?It’s not that simple…….


Search Engine Optimization is a foundational element

• The Finance / FinTech category is crowded – tough to compete

• Look inward at your own site – is it built to SEO best practices?

• Sometimes you just can’t predict what Google is looking for

• Beware of vendors making lofty promises


COMPANY XYZ IS ALWAYS IN THE NEWS. WHY CAN’T WE GET THAT?It’s not that simple…..


Getting media coverage is a long term strategy

• Great PR takes time and constant relationship nurturing

• Understand what makes a great story and what journalists need

• Get in front of the trends to “own” the story

• Press releases don’t work… ok, they rarely work

• Include an Influencer (blogger) strategy


I’M A B2B COMPANY. SHOULD I HAVE A FACEBOOK PAGE?It’s not that simple…..


The role of Social Media

• Social media and community management is very time consuming

• You don’t need to be everywhere

• Go where your customers are interacting

• You can leverage social media tools independent of your pages


I HAVE A VIDEO. HOW CAN I MAKE IT GO VIRAL?It’s not that simple…..


Corporate “viral” videos aren’t cheap

• The Myth: corporate viral videos are organic, free promotion

• Most “viral” videos have huge promotional budgets and plans

• Start with an amazing story that hits the key sharing motivators: entertaining, emotional, provides social currency

12©2016 PayPal Inc. Confidential and proprietary.

HOW TO START YOUR MARKETING PLAN


Market research (Category, Brand, Culture and Consumer Insights)

Target market, Personas

Value Prop messaging Financials and budget –

What is the Lifetime value of your customer?

What are you willing to pay for a customer?

RESEARCH

SEO/landing page strategy Analytics and Optimization strategy

WEBSITE

A Marketing Plan ChecklistA great marketing plan will include several other mini strategies within it

Digital Marketing strategy Referral strategy PR and Influencer

strategy Partnership marketing

strategy

Incentive strategy Email strategy Social strategy Content Marketing

strategy Affiliate program strategy

ACQUISITION AND

ENGAGEMENT

©2016 PayPal Inc. All rights reserved. Confidential and proprietary. 14

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GET HELP• It’s ok to understand what you know and what you

don’t

• Get a part time CMO to feed strategy to a junior person

• Can help you pitch and provide the expertise you may need to speak “marketing” to Angel Investors and VCs

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KNOW YOUR TARGET CUSTOMER• They are more than just an age or demographic

• What motivates them, what makes them different from others?

• Will help you get more value from your marketing dollar

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LOOK FOR “WHITE SPACE”• The digital marketing space is crowded

• Use tried and true tactics but funnel 10- 20% of your budget to look for marketing opportunities where your competitors aren’t

• Stand out and get more value from your marketing dollar

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ANALYTICS COME FIRST• Set up for monitoring but also for testing• Web analytics – Correct tagging is key (This is worth getting

help for!)• Marketing analytics – Need ROI tags on site to know what’s

working

• You should not outsource your insight gathering

• BONUS: For display, use only one ad server to avoid duplication

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SPEAK IN BENEFITS NOT FEATURES• One of the most common marketing mistakes

• Entrepreneurs often default to talking about what they have built and forget about how it helps the customer

• Tell me how you will make my life easier, better

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CONTENT IS KEY• Is a foundation for many strategies• SEO benefits, social media, lead gen white papers, PR and

influencers

• As founder of the company, position yourself as an expert

• Work to scale your content development• Syndicate content• Source user generated content

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EMAIL STILL WORKS• B2C or B2B, it’s still a viable and cost effective channel

• Follow CASL (Canadian anti-spam legislation) rules

• Provide value-add information people want to read

• Analytics: Keep a close eye on unsub rates and heatmaps

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LEVERAGE PARTNERSHIPS• Look for complementary relationships with people who

can help you bridge any gaps you may have in your model

• E.g. Promotional, distribution, servicing partners… instant access to a network beyond your own drives growth


Get helpKnow your customerLook for “white space”Analytics come firstSpeak in benefits not featuresContent is keyEmail still worksLeverage partnerships

Kerry Reynolds@KReynoldsCA

@PayPalCA

Technology

The Secret Sauce of Startup Marketing - PayPal