Date post: | 31-Oct-2014 |
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TiE Institute – Oct 09 – Slide 2
AGENDA
• 4Ps of Marketing• Where is your Elephant?• Product Segmentation• Pricing and Distribution•----------------------------------------------• Promotion & its 3 Pillars• Awareness & Social Media• Lead Generation
TiE Institute – Oct 09 – Slide 3
Select Core 4Ps of Marketing
Product Process People
Positioning Place Prayer
Promotion Packaging Pricing
TiE Institute – Oct 09 – Slide 4
What is “Marketing”?
•For a marketing plan to be successful, the mix of 4Ps must reflect the desires of the consumers in the target market – Philip Kotler
•Peter Drucker --- Marketing is – creating a product that sells itself– creating a product people want to buy– creating an environment that encourages people to buy
TiE Institute – Oct 09 – Slide 6
Where is your Elephant?
• Staying ahead of the Elephant (A)–Difficult strategy to execute–Need at least 2 years lead–Some examples – Borland, Gupta Software, Harvard
Graphics
• Staying below the Elephant (B)– Starting with a niche – Some examples – F5, Packeteer, Portal Software
• Riding the Elephant (C)– Bumpy but the safest of the three alternatives– Some examples – Airespace, Google, Thousands of
app developers for Apple, Goog, MS, Oracle
TiE Institute – Oct 09 – Slide 7
What is your Product like?
• Is your Product– Physical– Services– Software
• Is your Product– Pain Killer – Vitamin
• Does your Product– Fit an existing market category– Creating a new market segment
TiE Institute – Oct 09 – Slide 8
Segmenting & Finding your Customers
• Yahoo Vs Google• MySpace Vs Facebook• Packet 8 Vs RingCentral
TiE Institute – Oct 09 – Slide 9
Choosing the Place/Distribution
• Demand Creation is always done direct by the vendor
• Product Delivery can be done Direct by the company or Indirect through Channels (Agent, VAR, Distributor)
TiE Institute – Oct 09 – Slide 10
Pricing for Software has changed
• Software Licensing model moving to Subscription• Think of Business model while designing Products• Touch with Customer is not always desirable
TiE Institute – Oct 09 – Slide 11
Thanks / Q&A / Contacting Me
• R. Paul Singh: EIR, Lightspeed Ventures
• Email: [email protected]
• Twitter/Facebook/Linkedin: rpaulsingh
• Blog: mobilepov.wordpress.com
TiE Institute – Oct 09 – Slide 12
What is “Promotion”?
• Explain • to people who should care about what you’re selling• in the way they want to hear about it (radio, print, etc)• in words and concepts they will understand• why what you’re selling meets their needs.
TiE Institute – Oct 09 – Slide 14
How has the internet changed promotion?
Old• News outlets limited• General demographics• Big $, fewer viewers . . .
New• News free, but too much• Specialized audiences• Less $ per viewer – but lots
Costs less to make noise, but / so there’s more.
How do you stand out?
TiE Institute – Oct 09 – Slide 17
Awareness
• Was: Direct Mail, Television, Radio, Print Ads, Articles in Magazines…
• Is now also: “Social Media Marketing”…
TiE Institute – Oct 09 – Slide 18
Viral / Social Media, Defined
• Viral = historical term• (A) Transmissible person-to-person• (B) Grows at an exponential rate
• Social Media = current systematized use of viral tactics, through formalized mechanisms• Twitter• YouTube• Facebook• LinkedIn• Digg• …and the world of RSS, blogs, email, and word of mouth
TiE Institute – Oct 09 – Slide 19
Viral / Social Media, Defined• Viral = historical term
• (A) Transmissible person-to-person• (B) Grows at an exponential rate
• Social Media = current systematized use of viral tactics, through formalized mechanisms• Twitter• YouTube• Facebook• LinkedIn• Digg• …and the world of blogs, email, and word of mouth
aka “Communicating with lots of people without spending lots of money,
by getting them to do the work for you.”
TiE Institute – Oct 09 – Slide 20
Primer: 8 Steps to Buzz via Social MediaThe Eight Commandments…
• Understand what you’re trying to sell, to whom, how they prefer to hear about it, and in what terms. Target – don’t sell Nuke Reactors on twitter?
• Craft the message(s). What do you want each audience (purchasers, media, mass audience) to hear?
• Set up your infrastructure: Twitter Account(s), Facebook App, RSS tags on blog on your site, Digg Link buttons, Video… what’s appropriate?
• Craft content. What’s the story around your message that makes it socially transmissible? Is it cool, new, funny, controversial, insightful…?
• Be ready to respond, reciprocate (have space to link back, time to reply)
• Be proactive. Don’t just post; submit. Participate. Comment on others!
• Reward good behavior. Feature your customers, make ‘em heros.
• Do not spin. Do do lots of news and “press releases”
TiE Institute – Oct 09 – Slide 21
Lead Generation
• Was: Trade Shows, Direct Mail, 800-numbers, Yellow Pages…
• Is Now Also: Keywords, Landing Pages, Social Media Destination…
TiE Institute – Oct 09 – Slide 22
Example Lead Generation Process
SuspectNo indication of interest or potential / Cold lead
ProspectContact made / Indication of interest
OpportunityIdentified project, or VMware use case
Qualified“decision criteria” known / “buying process” known / Funds or budget available
ValidatedTechnical fit confirmed by prospect /Business fit confirmed by prospect
SelectedCustomer confirms that you are selected vendor / “Reverse timeline(RTL)” done
NegotiationBusiness terms being negotiated
ClosedContracts signed / PO in hand / No “hair” on deal
Lists from industry groups, cold-calling, ads, & direct email,
keywords, referrals
“Opt-In”: responses to ads & email, trade show leads, evals
Solutions Guides, Webinars, Customer Case Studies
Datasheets, Pricing Guides, Powerpoint Prod. Presos, Demo
Whitepapers, Reviewers guides, guided evaluations & demos
Comparitive documents, competitive guides
Incentive (“buy now”) programs
TCO and ROI studies
TiE Institute – Oct 09 – Slide 23
Starter Example: VMware as Haiku
• Grabber– An intriguing opening line that addresses a problem you have– ex: “Give Rebooting the Boot!” (rebooting is bad, annoying, timewasting)
• Value– What unique and valuable thing YourCo does to address that problem– ex: “Run multiple operating systems on a single machine without rebooting”
• Call to Action– Identifier and command to do something– ex: “Free 30-day trial, click here!” [VMware logo constant through all 3 lines]
TiE Institute – Oct 09 – Slide 25
Thanks / Q&A / Contacting Me
• Email: [email protected]
• Twitter: virtualkev
• Facebook & Linkedin: only if you’re a friend (no offense)
• Web: http://blog.stupidmarketing.com
• Stanford Class: http://stanford.stupidmarketing.com
• Amazon: http://amazon.stupidmarketing.com