Startup Marketing What You Need to Do Before You Begin

Author : Eva hukshorn, partner EFactor

1. Efactor is a Smart Network that matches entrepreneurs with the very people who can help them grow

2. Finding Business Partners: from partners to investors, from coaches to customers3. Largest Entrepreneurial Network in the World with 1mio members in 185

countries4. An online community Offering you a network, knowledge, events, and every

business resources you need to succeed @ discount!5. GO Online, fix your personal profile & company profile and get MATCHED!

It’s not about connections - it’s about the right ones…

Marketing is About Making Yourself Visible

Marketing Exposure Evolved Quickly

Marketing evolved:- 1980s: Fewer ads >> more people >> undivided attention- 2010s: More ads >> less people >> less attention

- Product proliferation and availability => Choice- Media proliferation => Continuous & Fragmented- Access proliferation => Everywhere

But So Did The Consumer

• Interruption marketing is no longer accepted.• Audience is participating instead of receiving.• Solution: GET THEM INVOLVED

Why You Need a Marketing Plan: Control!

• Define your idea / Bus. Plan• Target audience• Target market• Budget constraints• Smart marketing• Feedback• Measurable• Logo

• Recruiting• Investor relations / PR• Crisis Management• Traffic• Employee relations• Company culture• Style company• Philosophy

But So Did The Consumer

1. Know thyself

2. Characteristics Product

3. Specify your target market

4. Specify your target group

5. Collect information

1

Marketing plan helps you to send out consistent messages

1. Identify stage in life cycle

2. Goal communication

3. Research buying behavior

4. Select marketing channels

5. Create marketing budget

2

5

3 4

6 7

10

8 9

Know Thyself : SWOT Analysis

• Resources: financial, intellectual

• Customer service• Efficiency• Competitive advantages• Infrastructure• Quality & price• Delivery & me• Costs• Capacity• Personnel / management• Organizational structure

• Political• Legal• Economic condition market• Expectations of stake & shareholders• Technology• Public expectations• Competitive environment• Barriers to entry• Commodity prices• Amount of customers• Structure of suppliers

INTERNAL: Strength & Weaknesses EXTERNAL: Opportunities & Threats

Identify the Characteristics of Your Products / Services

Create a SWOT of your product

FEATURES

PRICE

SUPPORT

VISION

ALLIANCES

BRANDING

SALES

CHANNELS

COMPETITION

POSITION

Specify Your Target Market

Example:

• Fashion

• Fashion in North America

• Fashion in the US

• Fashion in New York

• Fashion in New York, Manhattan

• Pret-a-porter fashion in New York, Manhattan

Target small, and then roll-out to near markets

Specify Your Target Customer

Demographics:

• Age

• Gender

• Profession

• Relationship Status

• Children

• Race

• Political Preference

Target small, and then roll-out to near markets

• Religion

• Location

• Education

• Generation X, Y, Z

• Income

• Hobbies

• Life Style

Collect Lots of Information & Analyze

• Market:- Economic- Regional

• Customer characteristics• Competition:

- Companies-Products

• Surveys:- Online surveys- Personal surveys

• Group sessions• Industry reports• Competitors• Other…be creative!

WAY TO COLLECT HOW TO COLLECT

Lots of quantifiable data needed

Collect Lots of Information & Analyze

BRAND AWARENESS SALES ENCOURAGEMENT LOYALTY

Different stages, different messages

In Which Stage of the Product Life Cycle are You In?

Determine the Goal of Your Message and Communication

TEASING & POSITIONING• Recognition• Messages frequent &

consistent• Positive feelings• Awareness of USP• “Experience”

BRAND AWARENESS SOCIAL ENCOURAGEMENT LOYALTY

ACTIVATING & CONVINCING• Understanding problem• Awareness of ‘how’

problem is solved• Products & services are

easily accessible• Administration process

are clear & practical

SATISFACTION & RELATION• Continuous dialogue• Deliver promise• Solve problem• Create long-term relation• Relation continues even

after product or services is delivered

55% 35% 10%

Research Your Customers’ Buying Behavior

Need Information & Problem Awareness

Information Search

Evaluate Alternatives

Purchase

Post – Purchase Evaluation

• Stimulus Creation

• Personal Sources• Commercial Sources• Public Sources• Experiential Sources

• High Involvement• Low Involvement

• Satisfaction• Confirmation

Choose Your Marketing Channels

BRAND/IMAGE – TEASINGRadio Public transportFree Publicity Press releaseGuerilla Bill BoardsSpectacular SMSTell a friend Cars

BRAND/IMAGE – POSITIONINGTelevision MagazinesAdvertorials Press InterviewsBrochures Website News Rooms PodcastsFlicker Video/YouTubePartners TV Shows

SALES/TRAFFIC - ACTIVATINGConferences CongressesSeminars Direct Mail E-mail TelemarketingLeaflets Action websiteFree Cards Point of trafficNewspapers SEO / SEASocial Communities*

SALES/TRAFFIC - CONVINCINGSales Promotion Premium

ServicesSales training Sales coachingProduct folders SamplingTrials Case StudiesTestimonials Post-orderingCatalogue Display

Note: www.BiTSEN.nl, Frans de groot / Toon ten Cate

Choose Your Marketing Channels

LOYALTY - SATISFYINGMembership Cash back cardEvents NewslettersNews updates ForumEducation AppsOnline games PanelsMentoring Q&AVideo calling Workspace

LOYALTY - RELATIONSHIPBlogs WidgetTestimonials Book writingMember-brings-in-memberIn-house/online magazineIndividualentertainment & businessRelationship building events

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This document was prepared by Eva Hukshorn. Several people and organizations have inspired her to write this presentation, amongst which are, but not limited to the Founders of EFactor, ABN AMRO/RBS, University of Groningen, Institute for Management

Accountants, Paul Grant Founder of the Funding Game

Thank You!