Marketing for Startups: #BYOB13

Punit Modhgil#BYOB13

myths.realities.to dos. marketing

startup5@modhgil

“Business has only two basic functions-marketing and innovation.” Peter Drucker

“Marketing is the way your people answer the phone, the typesetting on your bills, and your

returns policy” Seth Godin

Marketing?

Common Myths of Startup Marketing• I don’t need marketing• Marketing is for visibility• I can’t afford marketing function• Our audience is everyone• ‘This worked for them’

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• I need a marketing agency• We will do a big launch• We can fix brand building later• …..

WTF or So What?Attract Engage Convert ShareHIGH Signal to Noise Ratio

“The Internet is enabling conversations among human beings that were simply not possible in the era of mass media.”

“Word of mouth (earned media) trumps paid media; Word of mouth or earned media is not limited by your marketing budget”

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• Advantage Startup– No Legacy, Fresh Start, Clean Slate: a New Promise– Agility in modifying approach; learnability– Faster Time to market; Disruption Enabled– Credibility of the Entrepreneur– Relationship marketing– Measurable marketing

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Startup Marketing?

• Challenges– Funds– Know how on marketing– Scale

5 things that do work• Predictability + Periodicity leads to Trust• Exclusivity + Scarcity fuels Demand; WOM?• Marketing that can’t be measured is ‘Waste’• Inbound-Pull Marketing is more critical• Long haul, marathon no short term stunts in

Brand Building

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5 to dos• Create Listening Posts• Tell Stories; it’s what others will say about you• A/B, Measure Everything• No Big Bang. Take Baby Steps• Partner, Partner, Partner with like minded

people; seek help but craft your own path

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Floh.in: Word of Mouth, leading to scale through mass-media

@modhgilOctane.in: India’s only Annual e-Marketing Research

Last but not the least• Do unto others as you would have them do to

you. Golden Rule Works, even in Branding.• ‘No man is an island’, please ask, share, report

Marketing Head Start for your Startup

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2013 Reference• Books:

– Storytelling: Winning the Story Wars– Unmarketing by Scott Stratten– The Cluetrain manifesto: Basic Books, 1999: Rick Levine, Christopher Locke, Doc Searls,

David Weinberger, McKee Jake – Permission Marketing : Turning Strangers Into Friends And Friends Into Customers by

Seth Godin– I Is for Influence: The New and Surprising Science of Persuasion by Rob Yeung

• Videos:– Sandeep Maheshwari on Youtube– Anything by Seth Godin– Videos on Youtube, India Marketing Review?

• The Science of Storytelling

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Happy Journey.Let’s continue our conversation..