Maria Dykstra
MARKETING LESSONS FOR EARLY STAGE STARTUPS
MARIA DYKSTRA @TREDIGITAL
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LESSONS LEARNED:
HOW TO BUILD COMPANIES WITH 7 FIGURES IN SALES
AND PRACTICALLY N0 MARKETING $$
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THE ONLY THING THAT MATTERS IS YOUR FUNNEL
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WHAT DOES THE BASIC FUNNEL LOOK LIKE?
Image credit: Neil Patel
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EVERY FUNNEL REQUIRES THESE 4 STEPS
DETERMINE WHO THE RIGHT CUSTOMERS ARE
CREATE A COMPELLING STORY TO TELL THEM
FIND PROFITABLE TRAFFIC CHANNELS TO REACH YOUR CUSTOMERS
DESIGN SMART SALES SEQUENCE TO CONVERT LEADS INTO BUYERS
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YOUR CUSTOMERLET’S TALK ABOUT….
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\"Almost every failed startup has a product. What failed startups don’t have are enough customers."
~Traction: A Startup Guide to Getting Customers
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WHAT DO MOST STARTUPS DO?
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“WANT” AND “NEED” ARE NOT THE SAME
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SPECIFIC “MUST HAVE” + SPECIFIC PERSON = “PROBLEM CUSTOMER FIT”
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HOW TO GET TO THE RIGHT “MUST HAVE”1. Tell me about the last time you
had... <problem> <context> 2. What was the most challenging?3. Why was it challenging? 4. How do you solve it now?5. Why is this solution not great?
Do NOT ask about the future (i.e. no “Would you” or “Will you” questions)
Absolutely NO PITCHING!
IT MAY TAKE 5+ “WHYs” TO GET TO THE CORE EMOTION
@TREDIGITALJustin Wilcox, Customer Dev Labs
1 - CUSTOMER “MUST-HAVE” EXERCISEInterview someone you do NOT know. Ask Customer Interview Questions. Document your findings:
- What was the most challenging? Why?
- How did they solve the problem?
- Listen for: Beliefs, Fears, Frustrations
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COMPELLING STORY
MOVING ON TO…
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CONNECT YOUR STORY TO CUSTOMER BFFs
BeliefsFearsFrustrations
@TREDIGITALImage credit The Ultimate Answer
OUTCOMES VS. FEATURES
YOUR STORY GOES BEYOND YOUR WEBSITE
YOUR WEBSITE = THE HUB OF YOUR STORY
Social Media
Blog + Guest Blogging
Email + Newsletter Whitepapers +
ebooks
Public Relations Offline Materials
Podcast
Video Series + Webinars
SEO + Referring Links
Video Series + Webinars
Document Sharing Sites
Forums
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2 - STORY EXERCISEFor every product feature, determine customer benefits and outcomes. How do your product features address BFF (beliefs, fears, frustrations)
FEATURES OUTCOMES/BENEFITS
1 123
2 123
3 123
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PROFITABLE CHANNELS
TIME TO DISCUSS….
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“If you get even a single distribution channel to work, you have a great business.
If you try for several but do not nail one, you are finished ” — Peter Thiel
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24 Marketing Channels
B2BB2C
❏ VIRAL MARKETING❏ INFLUENCER
MARKETING❏ LIFESTREAMING❏ WORD OF MOUTH❏ PUBLICITY STUNTS ❏ DISPLAY ADS
❏ EMAIL MARKETING❏ SOCIAL MEDIA
(ORGANIC)❏ CONTENT MARKETING❏ SEO❏ SOCIAL ADS ❏ EARNED MEDIA/GUEST
BLOGGING❏ REMARKETING❏ SEM/PPC❏ AFFILIATE PROGRAMS❏ EVENTS/TRADE SHOWS❏ MOBILE MARKETING❏ COMMUNITY BUILDING
❏ WEBINARS❏ PUBLIC RELATIONS❏ BUSINESS
DEVELOPMENT❏ SALES❏ INFLUENCE BUILDING❏ SPEAKING
ENGAGEMENTS
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CHANNEL PRIORITIZATION FRAMEWORK
1.PICK A CHANNEL
2.DESIGN A FUNNEL
3.RUN AN EXPERIMENT
4.MEASURE RESULTS
5.OPTIMIZE
6.RE-RUN THE EXPERIMENT
7.DETERMINE ROI @TREDIGITAL
CHANNEL PRIORITIZATION FRAMEWORK
1.PICK A CHANNEL
2.DESIGN FUNNEL
3.RUN AN EXPERIMENT
4.MEASURE RESULTS
5.OPTIMIZE
6.RE-RUN THE EXPERIMENT
7.DETERMINE ROI @TREDIGITALImage Credit: Sean Ellis
3 - CHANNELS EXERCISEDETERMINE THE CORE CHANNELS AND STEPS FOR THE EXPERIMENT. DETERMINE THE SUCCESS MEASURES
KEY CHANNEL(S) TO TEST IF WE DO <insert experiment>
OUR KEY METRIC <x> WILL INCREASE BY <y>
CORE STEPS
SUCCESS METRICS
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SMART SALES SEQUENCE
FINALLY….
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“ONLY 3% OF PEOPLE ARE IN THE “READY TO BUY NOW” MODE” ~ Chet Holmes
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GIVE VALUEGIVE VALUEGIVE VALUE
then ask for business
@garyvee
YOUR FIRST SALE IS JUST THE BEGINNING
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CREATE A FUNNEL FOR EACH CHANNEL
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YOUR COMPLETE FUNNEL MAY LOOK LIKE THIS
S
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AT THE VERY MINIMUM MAKE ALL OF YOUR CHANNELS WORK TOGETHER
@TREDIGITALImage Credit: Kate Grunton, buildalittlebiz.com
4 - FUNNEL EXERCISEDesign a Basic Funnel for the Channel that you picked. Determine different offers and nurturing sequence
How and where do you integrate BFF into the Funnel?
1.
2. @TREDIGITAL
RESOURCES/TOOLS CUSTOMERHow to Find & Interview Customers at CustomerDevLab.com
STORYValue Prop and Other Critical Story Components via Lean Canvas from Leanstack.com
CHANNELSOverview of the Traction Channels from Traction (the book)
NeilPatel.com - Tools + Tips on Maximizing channels
SALES SEQUENCETools to create sequence: ConvertKit (email) & ClickFunnels.com
Growthhackers.com - Online Community of GrowthHackers
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LET’S STAY IN TOUCH!
@TREDIGITAL IN/MARIADYKSTRA [email protected]
FIND THIS DECK: http://content.tredigital.com/StartupLessons
PUT THEORY INTO PRACTICE