Every start-up has the same marketing challenge. Finding customers.
God knows why the failure rate is an abysmal 90% for startups.
Here is my truncated “30K foot” perspective based on years of work with startups.
Too smart for your own good and can’t get out of the way when you hire an agency or consultant.
“No one knows this business like me….”
It’s a weed problem: too many execs get lost in the weeds working through the strategy and tactics.
Great marketing is about simplicity. Or see: “lead, follow or get the hell out of the way….”
Can’t keep the investors or BOD members out of the marketing strategy.
Committees create snafus, endless turf wars and other forms of mediocrity not good for strategic or tactical marketing.
Hiring a PR firm too early and/or letting them drive the strategy when/if no clue about digital media: design, technology, social and/or content marketing.
Thinking Cisco, SAP or Intel have everything figured out and then mapping a strategy around their brand positioning.
You are a start-up right? You don’t have the firepower, marketing budget or the type of team to execute this kind of strategy.
Have too much money. When is too much too much you ask?
When it gets in the way of tactical execution: see endless tacking back and forth.
Get to market and listen.
Mirroring competitors and thinking this is marketing strategy nirvana.
Some of them may be copying you and then where does this leave your business?
Yes, competitive intelligence is always meaningful if done right.
But, wholesale copying a marketing strategy with minimal tweaks and iterations is never a good thing.
Falling in love with technology or worse, afraid to test new technology.
Moore’s Law has bit the dust – marketing is in real time now and sell cycles can be viciously long.
Your customers are on smartphones and they are distracted.
You gotta get their attention with content in context drenched in tech’s repeat loops.
Look No Further for Easy Answers
You read this far, so here’s my formula for success: find a customer, ask them why they bought and then build your marketing strategy around this message.
I don’t portend to have all the answers. It’s in the data.
But, rave on: you are driving this economy and deserve cheers, accolades and the billions some of you are making.
#livedigital
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