the secret sauce of startup marketing - paypal
Post on 26-Jan-2017
99 Views
Preview:
TRANSCRIPT
Kerry Reynolds@KReynoldsCA
@PayPalCA#FinTechDay
©2015 PayPal Inc. Confidential and proprietary.
Stat slide
2
Subtitle
xx% xxx%Area Area
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.
©2016 PayPal Inc. Confidential and proprietary. 4
MY PRODUCT IS BETTER THAN MY COMPETITOR’S. WHY AM I NOT THE TOP RANKING IN GOOGLE SEARCH?It’s not that simple…….
©2016 PayPal Inc. Confidential and proprietary. 5
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
©2016 PayPal Inc. Confidential and proprietary. 6
COMPANY XYZ IS ALWAYS IN THE NEWS. WHY CAN’T WE GET THAT?It’s not that simple…..
©2016 PayPal Inc. Confidential and proprietary. 7
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
©2016 PayPal Inc. Confidential and proprietary. 8
I’M A B2B COMPANY. SHOULD I HAVE A FACEBOOK PAGE?It’s not that simple…..
©2016 PayPal Inc. Confidential and proprietary. 9
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
©2016 PayPal Inc. Confidential and proprietary. 10
I HAVE A VIDEO. HOW CAN I MAKE IT GO VIRAL?It’s not that simple…..
©2016 PayPal Inc. Confidential and proprietary. 11
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
©2016 PayPal Inc. Confidential and proprietary. 13
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
15
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
16
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
17
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
18
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
19
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
20
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
21
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
22
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
©2015 PayPal Inc. Confidential and proprietary. 23
Get helpKnow your customerLook for “white space”Analytics come firstSpeak in benefits not featuresContent is keyEmail still worksLeverage partnerships
Kerry Reynolds@KReynoldsCA
@PayPalCA
top related