Adams On Marketing Advertising is remarkably ineffective for an early stage company It’s expensive Very low return on investment Why?
What is good marketing? Early stage marketing cycle Customers->Market feedback Market validation -> Product refinement Products -> Publication relations Buzz -> Customer acquisition Interrelationships Give sales the right messages and tools Connect R&D with customers Heighten market awareness of your company’s products
Product definition Defining the product is your #1 market priority Its remains so continuously for every product release for the entire life of your company Face out to market. Face in to development. Rely heavily on alpha and beta customers
Generate buzz Two main targets Public relations/press releases Analyst relationships Branding Logo, website, folders, business cards Professional, memorable, meaningful Presence at conferences/trade shows/web PR Press briefings/releases, analyst meetings Power of a PR agency – existing relationships DIY options PR Web Video PR Web VideoPR Web Video Analysts give guidance and validation, too!
Customer Acquisition Pass hot leads to sales Obtained from market validation efforts Other ways to locate hot prospects Direct-response mailing/ s Tele-prospecting – outsourcing possible Trade shows Websites Google Adwords with SEO Partnerships/Alliances Dynamically change message in response to feedback Integrate – web, direct mail, calls - critical
Erika Fowler-Decatur Founder – Ithaca Fine Chocolates/”Art Bar” Creator of the “Art Bar”, a Fair Trade, organic chocolate bar that features an art reproduction by a regional artist Discusses challenges of running a not-for-profit business, ethics and social responsibility Graduate of Hamilton College and SUNY Binghamton Interview
Icebreaker What are the essential ingredients to Icebreaker’s success to date? What is Moon’s model of adoption for American customers? Why has distribution succeeded in Europe but failed in the US (to date)? What should Icebreaker do to “cross the chasm” in the US?
Keurig How attractive is Keurig’s system to: Distributors Coffee Roasters Keurig Office Managers Office Employees? What actions should Keurig take to penetrate the office coffee service market (including dealing with suppliers)? How should they price the machine? How fast should they grow?