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Why Startups Suck at Marketing

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One of the biggest reasons startups fail is the inability to scalably attract customers at low cost. In this presentation, Rand covers 8 reasons startups miss out on marketing success, and tips for how to overcome these pitfalls.

Publicada em: Marketing
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Why Startups Suck at Marketing

  1. Rand Fishkin, Wizard of Moz | @randfish | rand@moz.com The 8 Ways Startups SUCK at Marketing Why so many founders & early teams fail to get acquire right customers, with tactical tips to help solve these dilemmas.
  2. Bit.ly/starketing
  3. Too Many Startups Die Because They Can’t Get Customers
  4. CB Insightscompiledan analysisfrom startup post- mortems. These 5 are mostly “couldn’t find enough customers” or “couldn’t affordably find customers”
  5. To stay focused on marketing, I’m going to assume your startup has* a: A)productpeoplewant&willpayfor B)serviceablemarket C)teamthatcanexecute,learn,&improve *don’thavethese?Get‘emfirst,thencomebacktothemarketingprocess
  6. A Terrible Name #1
  7. Problems: Noonecouldsayournameuntil theyheardit Ona.org,sofolksassumedwe werenonprofit Took~$500Ktorebrandin2013 (“Moz”)
  8. Problems: Domainis“getskorch.com” Normalpeoplewillhear&spell “scorch” Theydon’town“Skorch”onany socialmediaplatform
  9. Problems: Pronunciationisunclear Difficulttospell/findevenafter youhearit
  10. Problems: Lunarisalreadyassociated w/dozensofotherthings (includingotherwatches) Brandnamedirectly conflictsw/product’sUVP
  11. Problems: Hustlehasnegativeconnotations outsideSV(hustlers,getting“hustled”, “HustlerMagazine,”etc) Namesuggestsproductissomething it’snot(acase)
  12. 7RulesforaSolidName: Easytospell,say,hear,andremember Hasnoexistingassociationsthatcouldconfuse Eithersuggestswhatthecompanydoes(AirBnB,Lyft),orhasno existing/problematicoverlap(Google,Atlassian) The.comsiteandmajorsocialaccountsareownedbyyou HasveryfewornoGooglesearchresults Avoidstrademarkinfringement Biasestobrandable>keywordrich/generic
  13. Some Startups WhoNailedIt:
  14. YouCANSucceed,EvenWithaCriteria-BreakingName…. It’sJustHarder.
  15. Pssttt…. Solongasthenamematchesthecriteria,youdon’t personallyhavetolikeit
  16. Overvaluing 1st Exposure #2
  17. StartupMarketingMythology Step1:BuildaGreatProduct Step2:GetonProductHunt(orHN) Step3:Customers!$$$!SeriesA!
  18. This is a long process, with many steps
  19. Yay! You made it to the top of PH & received 15,000 visits + 500 email signups But, only ~0.01% of people are looking for email verification APIs that day 
  20. Every day, a few dozen people search for this (and don’t find you)
  21. Loads of searches for your service, but none of these people can find you 
  22. They visit this list (and you’re not here)
  23. They ask friends + colleagues (who’ve never heard of you)
  24. They rely on existing providers
  25. They lean on social proof from their networks
  26. If you only play here (first exposure) Or here (decision time) You’re gonna have a bad time 
  27. StartupMarketingReality Step1:Getknown+trustedbyyouraudience Step2:Growapresenceacrossthechannelstheyusetofind solutionsyourproductsolves Step3:Bevisiblethroughouttheirdiscovery,consideration,and decisionprocesses
  28. Audience Problem Market Existing Solutions Channels Position Message Strategic startup marketing encompasses all of these The MVP way to do it: Digital Marketer’s Framework
  29. Chasing Growth Hacks #3
  30. Hack-Chasing Usually Leads to Death Before Success Via ProStart Hack Hack Hack Hack Crap.
  31. Don’t Fight the “Law of Shitty Clickthrough Rates” Via Andrew Chen A lot of exploitable, short-term “growth hacks” start here And end here
  32. Great Marketers Focus on Flywheels (systems that scale w/ decreasing friction)
  33. Moz’s Flywheel KW Research + Industry Intuition Publish Content Promote via Social Channels Push to email + RSS subscribers Earn Links + Amplification Grow social, email, RSS, & WoM channels Grow Domain Authority Earn Search & Referral Traffic Rank for More Competitive KWs
  34. KW Research + Industry Intuition Publish Content Promote via Social Channels Push to email + RSS subscribers Earn Links + Amplification Grow social, email, RSS, & WoM channels Grow Domain Authority Earn Search & Referral Traffic Rank for More Competitive KWs In 2006, I was lucky if new content led to any links or rankings at all
  35. KW Research + Industry Intuition Publish Content Promote via Social Channels Push to email + RSS subscribers Earn Links + Amplification Grow social, email, RSS, & WoM channels Grow Domain Authority Earn Search & Referral Traffic Rank for More Competitive KWs But, by 2017, nearly every post earns a handful of links, & some earn a lot!
  36. Moz is a Business Built on Content
  37. Dollar Shave Club was Built on a Press & Media Flywheel Via NYTimes
  38. Dribbble was Built on a UGC/Community Flywheel
  39. But… Almost Every Flywheel Finds a Point (or Points) of Friction Publish Content Promote via Social Channels Push to email + RSS subscribers Crap… We’re not reaching anyone who will link/amplify us 
  40. Growth Hacks Can Accelerate a Flywheel
  41. Hacks aren’t necessarily evil, spammy, or without value. They can be useful when applied to a sound marketing strategy.
  42. Find a Balance Between Long-Term Investments & Short-Term Hacks High upfront costs Pay (in time/$$) as you go Long-Term Investments Slow to show ROI Earn customers while you sleep Low Risk (PR/legal/etc) Can Show Fast ROI Effort In = Links Out Often High Risk Short-Term Hacks
  43. The Formula for Marketing that Will Work for Years to Come: Strategic Roadmap Scalable Flywheel Long-Term Investments Hacks to Remove Friction + + +
  44. Saving Marketing Until Launch #4
  45. Via ASmartBear
  46. TheFirstTimeSomeoneHearsAboutYou… You want my credit card & email???
  47. Via ProductHunt
  48. Which One(s) ShouldYou Do? Createablog? Participateinforumdiscussions? Buildacommunityonyourownsite? Becomeaguestcontributortoothercommunities? Participateinevents&conferences? Growrelationships/awarenessviasocialmedia? InvestinvideoonaYouTubechannel?
  49. Invest in 2-3 tactics long before you launch a product. So that when you do, there’s a pre-existing community that wants to support & amplify you.
  50. Relying on Paid Ads #5
  51. Via Wordstream This happens when your CTR & engagement are high
  52. Via Wordstream This happens when you have an unknown brand or target a new/unexposed audience
  53. Facebook, Twitter, Instagram, & display ads all work the same way Via Resolution Media
  54. HowtoWinatDigitalAdvertising Step1:Earnbrandexposurew/yourtargetaudience Step2:Get>1organicvisit(orsocialengagement) Step3:Advertisetothosewhoalreadyknow+likeyou
  55. Not Prioritizing an Easy-to-Reach Audience #6
  56. “Ourtargetaudienceisoff-the- gridtypeswhohate advertisingandmostlyread bookswrittenbefore1950.”
  57. “Wehaveaguerillamarketing planwebelievecanreachthis eclecticgroup(andweonly need$3mminseedfundingto execute”
  58. easiertoreach hardertoreach Knowyoupersonally(&wouldhappilymeetforcoffee) Knowofyou,likeyou,&followyourworkclosely Arealreadyconnectedtoyouviaemail Alreadyfollowyouonsocialmediachannels Havevisitedyourwebsiteatleastonce Haveheardofyourcompany(andcanrecallit) AreinyourtargetaudienceandreachableviaFB/GGads
  59. INSANITY is…
  60. easiertoreach hardertoreach Knowyoupersonally(&wouldhappilymeetforcoffee) Knowofyou,likeyou,&followyourworkclosely Arealreadyconnectedtoyouviaemail Alreadyfollowyouonsocialmediachannels Havevisitedyourwebsiteatleastonce Haveheardofyourcompany(andcanrecallit) AreinyourtargetaudienceandreachableviaFB/GGads 1) Lacking any strategy to increase the size of these groups
  61. easiertoreach hardertoreach Knowyoupersonally(&wouldhappilymeetforcoffee) Knowofyou,likeyou,&followyourworkclosely Arealreadyconnectedtoyouviaemail Alreadyfollowyouonsocialmediachannels Havevisitedyourwebsiteatleastonce Haveheardofyourcompany(andcanrecallit) AreinyourtargetaudienceandreachableviaFB/GGads 2) Not targeting these people first
  62. easiertoreach hardertoreach Knowyoupersonally(&wouldhappilymeetforcoffee) Knowofyou,likeyou,&followyourworkclosely Arealreadyconnectedtoyouviaemail Alreadyfollowyouonsocialmediachannels Havevisitedyourwebsiteatleastonce Haveheardofyourcompany(andcanrecallit) AreinyourtargetaudienceandreachableviaFB&GG 3) Aiming 100% of your tactics at only these groups
  63. But Rand…
  64. Mark didn’tstartFacebookwith… Ohdang…He totallydid.
  65. Brian& Joe didn’tstartAirBnBwith… Ohdang…Theytotallydid.
  66. Jeremydidn’tstartYelpwith… Ohdang…He totallydid.
  67. Danielledidn’tstartMattermarkwith Ohdang…She totallydid.
  68. easiertoreach hardertoreach Knowyoupersonally(&wouldhappilymeetforcoffee) Knowofyou,likeyou,&followyourworkclosely Arealreadyconnectedtoyouviaemail Alreadyfollowyouonsocialmediachannels Havevisitedyourwebsiteatleastonce Haveheardofyourcompany(andcanrecallit) AreinyourtargetaudienceandreachableviaFB/GGads Pro Tip: Having a lot of target customers in your personal network makes EVERYTHING about starting up easier.
  69. Failing at Funnel Fundamentals #7
  70. Most Marketers and Sites Focus on Optimizing for Conversion Get More and More People Through These Steps And Get Paid $$But startups usually lack this “right audience” at the top of their funnel
  71. Most Marketers and Sites Focus on Optimizing for Conversion Get More and More People Through These Steps And Get Paid $$ And often lack the data & tools to move people through this funnel, too.
  72. Searching Google Browsing Social ReadingNews Engagingin Discussions FollowingInfluencers If you get to know your audience well enough, you’ll know what they do before they ever reach your funnel
  73. Research If You Don’t Know… Via GrowingYourAudiencew/ RandomAffinities Via Use Customer Surveysto DefineYour Content Marketing Efforts Ask
  74. Once you have real people signing up for your product, you can learn more about them
  75. Now we just need to find out where people like this guy hang out
  76. Have a community & can find/recruit folks excited about your product? Do that!
  77. Then you can survey this audience to identify their clones 
  78. IdeallyYouWantto: A:Identifyrightcustomers B:Findwhat/whoinfluencesthem C:Clone,expand,&repeat
  79. I’ve found it incredibly helpful to visualize our funnel I want to see sources And how each contributes to various levels
  80. I also use this to ID areas (and channels) where my visitors aren’t turning into customers
  81. Then I can identify the traits that separate right prospects (who’ll use & love our product) from wrong (those who won’t).
  82. My Favorite Process: From Conversion Rate Experts’ case study Boom. And Shakalaka.
  83. Didn’t try the product Tried, but didn’t love it Tried & loved the product What do you think the product does? What made you try it? What made you try it? What would make you more likely to try it? What are your biggest objections to signup? What objections did you have and how did you overcome them? What caused you to stop using the product? What would have made you stay a customer? What objections did you have and how did you overcome them? What’s been most valuable to you? If you’ve loved it, can we share your story?
  84. Ignoring Brand #8
  85. Brandis… Apromise. i.e.whenyousee“BrandX”itmeans“YAttributes” Amemory trigger. i.e.whenyouexperienceproblemZ,youthinkof“BrandX”asthe potentialsolution
  86. BrandMarketingis… Acodedmessage. Remindingyouofthebrand’sexistence Reinforcingthebrand’scolors,shapes,sounds,experiences,& feelings Nudgingyoutousethebrandattherighttime
  87. Whatdoyouthinkofwhenyou seethisbrand?
  88. Brandmarketingreinforcesthat:
  89. Whatdoyouthinkofwhenyou seethisbrand?
  90. Brandmarketingreinforcesthat:
  91. Beforeyoucanbrand,youneeda BrandPromise We provide… We evoke feelings… We remind you of… We share the values of… product/ service that solves a problem you have that make our customers most anxious about whether our solution is right for them Memories that our target demographics & psychographics will have ++ associations with People who are statistically most likely to be our best customers
  92. How can Penzey’s call 22% of Americans “racist” and maintain a consumer business?
  93. Online sales up 59.9%. Customer cancellations up 3%.
  94. EverythingShould(Subtly)ReinforcetheMessage SEO Snippets PPC Ads Big Content CommentsTweets Photos Landing Pages UI & UX Brand Name Facebook Posts Emails Product Names Videos Visual Branding Outreach Onboarding Press & PR The Brand Promise
  95. Rand Fishkin, Wizard of Moz | @randfish | rand@moz.com Bit.ly/starketing

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