myths & truths about marketing your startup

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PRESENTED BY: Myths & Truths - Building a Product January 28, 2015 PRESENTED BY: PRESENTER: ROBERT WALLACE EVP MARKETING, TALLWAVE [email protected]

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Page 1: Myths & Truths About Marketing Your Startup

PRESENTED BY:

Myths & Truths - Building a Product

January 28, 2015PRESENTED BY:

PRESENTER:ROBERT WALLACE

EVP MARKETING, [email protected]

Page 2: Myths & Truths About Marketing Your Startup

INTRODUCTIONROBERT WALLACEExecutive Vice President, MarketingTallwave LLC

Marketer, entrepreneur and problem solver.

Helps early stage tech startups take their products to market and stake a claim to a winning position in the marketplace.

In a previous life:● Affinnova● Internet Venture Works● Airwalk

[email protected]

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 3: Myths & Truths About Marketing Your Startup

AGENDA

WWW.TALLWAVE.COM/MARKETING [email protected]

• Myth 1: You need a PR firm or ad agency to launch your startup.

• Myth 2: (a) You should focus on product and sales before thinking about marketing, (b) A great product alone solves all my marketing problems.

• Myth 3: Investors don’t care about branding and marketing.

• Myth 4: You need a CMO or VP of Marketing to market your startup.

Page 4: Myths & Truths About Marketing Your Startup

THE MYTHS

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 5: Myths & Truths About Marketing Your Startup

MYTH #1: YOU NEED A PR FIRM OR AD AGENCY TO LAUNCH YOUR STARTUP

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 6: Myths & Truths About Marketing Your Startup

MISCONCEPTION

Marketing is only about awareness.

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 7: Myths & Truths About Marketing Your Startup

REALITY #1

Advertising is not marketing.

Neither is PR.

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 8: Myths & Truths About Marketing Your Startup

THE TRUTH: MARKETING IS ABOUT REVENUE

WWW.TALLWAVE.COM/SANDCASTLE [email protected]/MARKETING [email protected]

Page 9: Myths & Truths About Marketing Your Startup

TIPS:

1. Focus = Strength

2. Use cheap marketing tools such as MailChimp, Sprout Social, Pr.co, JustReachOut, Mixrank, PromoJam

3. Tap into inexpensive resources such as Elance, fiverr, or oDesk

4. Measure everything, and experiment until you see what works

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 10: Myths & Truths About Marketing Your Startup

MYTH #2a: YOU SHOULD FOCUS ON PRODUCT AND SALES BEFORE THINKING

ABOUT MARKETING

MYTH #2b: A GREAT PRODUCT ALONE SOLVES ALL MY MARKETING PROBLEMS

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 11: Myths & Truths About Marketing Your Startup

MISCONCEPTION: THESE GUYS DID IT!

“Uber is such a great experience it markets itself.”

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 12: Myths & Truths About Marketing Your Startup

Marketing is hard, non-sexy, work.

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Page 13: Myths & Truths About Marketing Your Startup

THE TRUTH:

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Page 14: Myths & Truths About Marketing Your Startup

TIPS:

1. Focus on how you plan to get to revenue for your company - forcing product, marketing, and sales to be at

the table.

2. Map the detailed customer journey from the moment they purchase/use your product backwards.

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 15: Myths & Truths About Marketing Your Startup

MYTH #4: INVESTORS DON’T CARE ABOUT BRANDING AND MARKETING

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 16: Myths & Truths About Marketing Your Startup

MISCONCEPTION

Branding is just about logos and colors.

Marketing is just about spending money.

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Page 17: Myths & Truths About Marketing Your Startup

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“GREAT BRANDING ISN'T JUST ABOUT THE PRODUCT YOU'RE SELLING NOW, BUT ABOUT

MAINTAINING THE SALES MOMENTUM INTO THE PRODUCT YOU'LL BE SELLING TOMORROW.”

BEN MACK, THINK TWO PRODUCTS AHEAD

Page 18: Myths & Truths About Marketing Your Startup

WWW.TALLWAVE.COM/MARKETING [email protected]

Investors want to invest in companies that can win in the marketplace.

Branding and marketing are critical facets to doing that.

Page 19: Myths & Truths About Marketing Your Startup

TRUTH: YOUR FOUNDATION FOR GROWTH

AND RAISING MONEY EXISTS IN YOUR POSITIONING STATEMENT

WWW.TALLWAVE.COM/SANDCASTLE [email protected]/MARKETING [email protected]

Page 20: Myths & Truths About Marketing Your Startup

Wholesalefund to Shelvspace – Company Rebrand & Reposition

Page 21: Myths & Truths About Marketing Your Startup

There is no clear solution for brands looking to integrate, optimize and measure

their local, social and mobile marketing & sales efforts in the digital out of home

(DOOH) marketplace.

Clearly Articulate the Problem You’re Solving

Define Your Position, Differentiate Your Solution, Create New Markets

“Company Name” is the social out of home (SOOH) media company.

Unlike traditional and next generation DOOH solutions that deliver impressions

and actions; the “Company Name” media network delivers impressions, creates

consumer engagement and drives leads and sales by integrating local, social

and mobile marketing for brands, agencies and dooh networks via a single

platform.

Page 22: Myths & Truths About Marketing Your Startup

• STRATEGY: CURRENT COMPETITION

Page 23: Myths & Truths About Marketing Your Startup

WWW.TALLWAVE.COM/MARKETING [email protected]

TIP:

THE FIVE ELEMENTS OF A POSITIONING STATEMENT (AKA YOUR MARKETING STRATEGY)

“Company Name” is the leading type of company that provides unique benefit to target customers.

Unlike competitors, company does unique differentiator(s).

Page 24: Myths & Truths About Marketing Your Startup

MYTH #4: YOU NEED A CMO OR VP OF MARKETING TO LAUNCH YOUR STARTUP

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 25: Myths & Truths About Marketing Your Startup

MISCONCEPTION

“As the founder/CEO, I don’t have time to do marketing myself.”

“I’m not a marketing person.”

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 26: Myths & Truths About Marketing Your Startup

REALITY #2

A startup’s marketing strategy is too important NOT to be owned by the

founder/CEO.

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 27: Myths & Truths About Marketing Your Startup

• Defines your business

• Defines who you are and who you are not

• Foundation for how you address the marketplace

THE TRUTH: Your startup’s brand, positioning, and messaging matter...a lot.

WWW.TALLWAVE.COM/MARKETING [email protected]

Page 28: Myths & Truths About Marketing Your Startup

WWW.TALLWAVE.COM/MARKETING [email protected]

TIPS:

1. Spend the time and effort to nail your positioning statement, messaging, and marketing objectives.

2. Understand what marketing metrics are driving your business.

3. Hire more junior marketers to execute and test different tactics until you know what’s working and what’s not.

Page 29: Myths & Truths About Marketing Your Startup

AN INTENSIVE 2-WEEK BRANDING + MESSAGING SPRINT

Articulate a compelling story around your unique value

Stake claim to a differentiated position in the market

Reduce confusion with your target stakeholders

Package your company for sales and fundraising

TALLWAVE.COM/MARKETING [email protected]

Page 30: Myths & Truths About Marketing Your Startup

Questions?

WWW.TALLWAVE.COM/SANDCASTLE [email protected]

Page 31: Myths & Truths About Marketing Your Startup

PRESENTED BY:

Myths & Truths - Building a Product

January 28, 2015PRESENTED BY:

PRESENTER:ROBERT WALLACE

EVP MARKETING, [email protected]