DIGITAL MARKETING PLANNING & CONTROL Esra Günel / Dr. Joachim Behrendt

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StartNowHow

• Open seminar series for active and prospective entrepreneurs

• 10 sessions on monthly basis until summer 2016

• Covers relevant theoretical and practical aspects of entrepreneurship

• Based on lecture „entrepreneurship“ @Bogazici University

• Based on experiences of entrepreneurs, investors, mentors and consultants

• Each session with guest speaker (entrepreneurs, investors, mentors, etc.)

• Language: English / Turkish

• Thursdays 17.15h – 19.30h

• Next session: Thu 14. April 2016

• Topic: Funding the Startup – Stage Financing for Ventures

• Certificate provided for participants joining at least 70% of the sessions

• Early registration for each session required (eventbrite), limited capacity!

• Priority for regular participants

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StartNowHow - Seminar Topics (preliminary)

1. Thu 1.10.15: The entrepreneurial ecosystem in Turkey

2. Thu 15.10.15. Entrepreneurship as a profession

3. Thu 12.11.15: Opportunity recognition and evaluation

4. Thu 10.12.15: Planning, developing and testing a business model

5. Thu 7.1.16: Market and competitor research

6. Thu 11.2.16: Financial planning for startups

7. Thu 10.3.16: Digital Marketing planning and control

8. Thu 14.4.16: Funding the startup – stage financing for ventures

9. Thu 12.5.16: The investment process – pitching, negotiations and termsheet

10. Thu 9.6.16: Success and failure as an entrepreneur

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What Is a Business Plan?

• Definition: The business plan is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture. (Hisrich / Peters / Shepherd, Entrepreneurship, p.189)

• Integration of functional plans (e.g. Marketing, finance, manufacturing, HR)

• Planning horizon: 3-5 years

• „Like a road map“ when travelling from A to B on different possible routes

• Types of Business Plans

• „Business plans, like entrepreneurs, come in all shapes and sizes“ (Harper, Extraordinary Entrepreneurship, p.182)

• Summarized business plan: around 15 pages, contains only key information, not for external communication / communication to potential / new business partners

• Complete business plan: Most frequent form, 30-50 pages + 10-30 pages attachments, especially needed for obtaining external funding

• Operational business plan: More than 100 pages, mainly for already existing companies (example: sale of business), extensive quantitative part, used for internal planning process

• (Translated from Fischl / Wagner, Der perfekte Businessplan, pp. 17-20)

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Why Preparing a Business Plan?

• Even without the need for an external investor, entrepreneurs should force themselves to carefully prepare a business plan

• „In preparing for battle I have always found that plans are useless, but planning is indispensable.“ (Dwight D. Eisenhower)

• Helps you learning about details of your business, your market and your operations

• Supports gaining critical insights into your intended partner‘s styles, strenghts, weaknesses, and ways of cooperation

• Gives you intimate knowledge of the opportunity, buyer and user, market and competition, and financial characteristics

• Serves as tool for communication to outside parties interested in the venture, and as a medium for discussion with them, revealing their knowledge, creativity, and suit for their intended roles

• Prevents you from jumping ahead prematurely, limits sloppiness with regard to necessary research, creative problems solving, and „hard thinking“

• Tests your commitment and prevent your heart from getting too far ahead of your head

• Saves time during operations, helps avoiding common mistakes, helps creating order for a, in general, chaotic and unpredictable event

• Helps you creating the best possible roadmap from where you are, to where you want to be

• (Adopted from Timmons / Spinelli, New Venture Creation, pp. 270-271)

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Structure of a Business Plan – Example, page 1

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Source: Hisrich / Peters / Shepherd, Entrepreneurship, p.201

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Structure of a Business Plan – Example, page 2

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Source: Hisrich / Peters / Shepherd, Entrepreneurship, p.201

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Market Segmentation and Customer Analysis

09.03.2016 8 Entrepreneurship

• Market segmentation

• How is the industry currently segmented?

• How will the market be segmented in the future?

• Problem with developing markets: assumpitons necessary about future market segmentation (example: mobile phone market in early stage – forecast market segmentation into smartphones vs. simple mobiles possible?)

• Analysis of market entry barriers

• Target groups

• B2C markets: Consumer behavior characteristics (demographic / psychographic / geographic information) help separating target groups

• B2B markets: Knowledge of industry, size of firms, frequency of purchase, price sensitivity, organizational contact

• The more details you know about your customer, the more promising the venture

• VC: „The most impressive entrepreneur is theone who comes to my office not only knowing the customer in terms of demographics and psychographics, but can also name who that customer is by address, phone number, and e-mail address.“

• Sources of information: More difficult, sometimes own market research necessary – but avoid „paralysis by analysis“

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Consumer Behavior and Market Segmentation

09.03.2016 9 Entrepreneurship

Source: Kuratko, Entrepreneurship – Theory, Process, Practice, p.296

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Consumer Behavior and Market Segmentation

09.03.2016 10 Entrepreneurship

Source: Kuratko, Entrepreneurship – Theory, Process, Practice, p.298

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Marketing Plan

09.03.2016 11 Entrepreneurship

• Market positioning

• Marketing objectives

• Target market strategy

• Marketing mix and action programs

• Product and service policy

• Distribution / sales policy

• Communication policy

• Price policy

• Marketing budget

• Sales forecast vs. marketing measures

• Marketing control

• See literature / textbooks about marketing

• See three examples for a marketing plan (taken from: Hisrich / Peters / Shepherd, Entrepreneurship, pp. 251-253

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K StartNowHow - Outlook

• Today‘s materials will be made available to participants for downloading

• Next Seminar: „Funding the Startup – Stage Financing for Ventures“

• Guest Speaker: Burkan Beyli, Buran Ventures (tbc)

• Thursday, 14.4.2016, 17.15 – 19.30h

• Don‘t forget to register early (eventbrite) - capacity 50 people!

• Priority for participants / registrants from today‘s session

• General rule: Allocation of seats according to participation

• Regular participation = certificate (70% participation)

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BIC ANGEL INVESTMENTS Dr. Joachim Behrendt

Phone: +90 212 328 1939 Fax: +90 212 328 1933

www.bicangels.com http:/twitter.com/joachimbehrendt http://tr.linkedin.com/pub/joachim-behrendt/18/706/a7a

Email: j.behrendt@bicangels.com