- Marketing is science not art
- What’s your goal? Personal, Financial or TimeFrame? rich vs. king
- Single Necessary Condition for a business?
- A paying customer
- Technology is not a business. We have to give/offer/sale solutions (services).
- Technology is overrated when it comes to business.
- Marketing is not an spectator sport: get in your customer shoes
- Technology adoption curve has a “chasm” before: innovators and enthusiasts (ROI, what’s ROI?), then early adopters/visionaires (cool, yeah)… the chasm … and after: early majority/pragmatists (ROI validation) and late majority/conservatives (together they’re the mainstream market) and finally laggards/skeptics.
- To succesfully cross the chasm you have to jump beachhead segments.
- Viking Strategy: Market Exploration / Viking Market Execution Strategy (burn the boat)
- Focus is important, because we have not resources and time to do everything: one thing well done. You have to say no.
- ARE YOU …? technology push or market pull ?
- Offer oriented solutions means you can’t be too generic on your target market
- 4P must address the 3C (Customer, Company, Competition)
- Discover your “persona”
- Outbound marketing getting outplaced by INBOUND marketing
- For INBOPUND hire the right people: DARC people
- Digital citizens
- Analytical capabilities
- web Reach
- Content creators
- We spend too much time on tech, and not so much in pricing and business model.
- Think about your Jury “ability to spend” (capital expenses, CapEx)
- How you will compete?
- Low Price? Product Innovation? Customer Intimacy?
- You can’t compete on 3 axis (at least with limited resources)
- Who are you gonna sell to? Companies don’t buy products. People do.
- High PAIN or PAYOFF for getting it WRONG or RIGHT.
- Targeting profiles: inverted pyramid or the Holy Grail of specifity.
- Target Customer Profile (in a Target Addressable Market, TAM). Find your Persona. Define your value proposition. Get a Tag line :)
- Remember: The DECISION MAKING UNIT (DMU) is (could/should be):
- Buyer, Champion, Influencers, Veto Power, End User, Compliance Officer
- They also have a DMP (Decision Making Process)
- Don’t start with the product. Start with the market (persona). The champion gets the economic buyer and maybe the end user.
- Commodity means lowest price.
- Define your: Jury, Value Proposition (USP) and Market Niche
- Remeber to work on the CoCA (Cost of Customer Acquisition) and LTV (Life Time Value).
- Create new market spaces … Blue Ocean Strategy
and remember
- You are never over as an entrepreneur, there's new stuff to learn everyday…
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