Posts Tagged ‘startup marketing’

I came across a good post on Seth Godin’s blog today titled “Driveby culture and the endless search for wow.” His topic of the day was the detrimental effect of the drive by masses that drive such data as web traffic, but that build no lasting online connection or relationships.

Seth makes some good points and should make people question the metrics they use to measure marketing success like web traffic, clicks and eyeballs on the site.

“The majority of people who sign up for a new online service rarely or never use it. The majority of YouTube videos are watched for just a few seconds. Chatroulette institutionalizes the glance and click mentality. I’m guessing that more than half the people who started reading this post never finished it.

This is all easy to measure. And it drives people with something to accomplish crazy, because they want visits to go up, clicks to go up, eyeballs to go up.

Should I write blog posts that increase my traffic or that help change the way (a few) people think?”

More than ever there is a call to action for companies and their marketing departments to build valuable, strong connections to their customers and prospects. In essence they need to move away from the sheer numbers game and focus instead on quantifying high-quality interactions and relationships they build with their audience.

There are lots of lessons to be learned from Seth Godin's new book and promotionThere are all kinds of books and experts who will show you how to use social media and your community to promote your product. Certainly product promotion has changed, the power of advertising has diminished and leveraging the interconnected nature of your user community is a must for a social media launch.

Rather than generate another in a long line of posts of how to do this, I thought I point to a great example of someone doing this right now. Seth Godin is promoting his new book, “Linchpin“, and is leveraging his considerable network to get the word out.

In advance of the launch of his latest book, Seth Godin asked the followers on his blog to contribute $30 or more to the Acumen Fund and in return he would send the first 3,000 contributors an early copy to read and review. I signed up for my copy and should be receiving it this week.

This is a brilliant promotion and leverages grass roots support to get the word out about his book in contrast to traditional costly marketing campaigns. Now, Seth Godin is one of the top bloggers on the net and has a huge following, but here are some things we can all learn about his approach to generating buzz for his new book: (more…)

This is an old clip, but in honor of Apple’s iPhone officially passing Windows Mobile market share I thought it was worth pulling back up Steve Ballmer’s original reaction to the announcement of the iPhone.

This may be one of the worst examples of a CEO talking about a serious competitor that I have seen. The mocking laugh and outright disregard, for what anyone with any foresight could see was going to be a serious competitor, is inexcusable. If I were a shareholder of Microsoft, which I am not, I would be outside Ballmer’s office with torch and pitchfork for forfeiting a 9 year head start in the market to Apple because of lack of vision.

Want to avoid sticking your foot in your mouth? Here are some guidelines for positioning against the competition: (more…)

If you are thinking about starting a company or are fully into startup mode, it is worth you time to watch this video of Aaron Patzer where he describes the process for his success at Mint.com. This is a tremendous walkthrough of how he bootstrapped his company, planned for success and ultimately sold his company for $170 million to Intuit.

Mint CEO Aaron Patzer on Startups from Techcrunch on Vimeo.

Aaron walks through his early business plan, revenue expectations, funding and ultimate acquisition with lots of numbers. I found it particularly humorous when he talked about how VCs value early stage companies; $500k for every coder/engineer, -$100k for every business person.

His instincts are on the money though. Focus on your product, building value, proving out your business model. Understand your market and you will gradually build for success. You can add sales, marketing, and executive leadership through advisors at first, consultants and part time employees next and ultimately will bring on full time executives as needed. We had a great discussion on this topic on my own site a few weeks ago in the post “Do startups need VPs?

Hope you enjoy the video.

Gaining good press is an important objective for most startups. It is a good way to reach a large audience and has a credibility beyond paid advertising. That said, PR agencies can be very expensive. Most don’t like to start working with startups for anything less than $5,000 per month and usually target relationships that are north of $10,000. For early companies, this is simply out of reach.

Ken Westin, the founder of GadgetTrak, has had impressive results in getting press for his company without the aid of a PR firm. Despite being self-funded and entirely bootstrapped, Ken has managed to get his company and product featured nationally in such programs and publications as Dateline NBC, Good Morning America, CBS Evening news, Forbes, Newsweek, NY Times and others. This is an impressive list that would make any company envious.

How did he do it? Here is what Ken recommends: (more…)

Would your customers be "very disappointed" if they couldn't use your product?One of the things I do for my clients is help them connect to their customers, validate a market need and refine their product to meet that need. The only way to do this is by communicating with those customers, whether it is through a survey, interviews, or personal visits. I emphasized the need to communicate with your customers last week in the post “Top five benefits to startups who talk to customers.

Today I’d like to focus in on a very specific question you should be asking your customers, “How would you feel if you could no longer use [your product name]?” This is a question that you should ask every customer according to Sean Ellis, and I agree. Sean specializes in customer development and provides similar services to what I offer some of my clients. I have found his blog to have excellent advice.

He asks that question with the following options:

How would you feel if you could no longer use [product]?

  • Very disappointed
  • Somewhat disappointed
  • Not disappointed (it isn’t really that useful)
  • N/A – I no longer use [product]

His assertion is that if 50% of your customers answer this question “Very disappointed” that you are well on your way to having a “must have” product. This is a very interesting assertion as it is a fairly simple litmus test. That said, I think Sean is right on the mark when he advocates asking these type of questions of your customers and working toward a product your customers cannot live without.

Top five benefits to startups from talking to customersSeems like a simple mantra, but it is amazing how often it doesn’t happen. Here’s a quick test. How many people on your leadership team, say director level and above, have communicated with a customer or prospect this week? If your answer is zero then you ought to be worried.

Customers are like high paid consultants with specialized knowledge and connections in the industry you sell into, deep familiarity with your own and likely your competitor’s products, and hands on experience with the problem you are trying to solve. To top it all off, they won’t charge you anything to help you make your product better. Why wouldn’t you talk to them? (more…)

I came across this video on TechCrunch in the article “This Microsoft Store is Trying too Hard.” Let me apologize ahead of time if this video is simply too much to take.

Microsoft isn’t trying too hard here, actually the opposite is true. This is evidence of Microsoft simply not trying hard enough. They haven’t taken the time to understand what has made Apple stores so successful … their products. What is funny to me about this is that this is an extension of the misunderstanding that what Apple has is a “cool” factor that is driven by glitz and design. Apple does have great design, but that is simply a wrapper for insanely great products that their customers love. The greatness comes not from shallow looks, but rather from the simplicity and relentless focus on the customer experience. Apple gets simple.

(more…)

16
Nov

Do startups need VPs?

written by Scott Olson

I came across a link to a segment of a talk given by Steve Blank this weekend on VentureBeat titled “Start-ups have no room for VPs.” In it was this short video segment where Steve explains why startups shouldn’t look like “junior versions of large companies.”

Steve is compelling when explaining why the model used by larger organizations simply doesn’t work with startups. VPs aren’t VPs, they are on the “customer development team.” The job is not scaling an organization in a startup. The job is validating the market need, refining the product, and ultimately establishing a repeatable sales process that has been proven to be successful.



I have been thinking about this a lot this weekend and find myself conflicted. (more…)

Yes, your product is differentiated ... so what?Every VC, or venture angel has heard it. Maybe you’ve even said it. In answer to the question “who’s your competition?” The simple answer comes back:

“We don’t have competition.”

Why do entrepreneurs say this? In this fast paced world, if you have a good idea meeting a real market need, the chance of you having no competition is zero. Are we just stupid? No. The problem is we get fixated on our differentiation and we feel like no one solves this problem the same way so we really don’t have competition. This kind of thinking is a big problem in more than one way.

The first problem is simply that it isn’t true. If you don’t have competition you don’t have a market. If it is a big enough problem, your customers are likely already solving it themselves and the people who solved the problem at a company will be your next competitors.

The second problem is that fixating on your differentiation can kill your company if you are not careful. In a country that embraces individuality and standing out, competitive advantage and differentiating is often the first thing we think of in startups. You just need to make sure that before you become the red tulip in this picture, that your market isn’t only for yellow ones. (more…)

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