Marketing for Social Innovations

The fundamental questions for the Chief Marketing Officer:  What do you sell? – be specific  What is the size of the opportunity?  Who is your customer?  How are you providing value to your customers?  How do you plan to grow?  How do you plan on making money? Critical Questions - CMO

An action plan that specifies how a company will reach customers and achieve competitive advantage. Go-To-Market (GTM) - Strategy

Focus on these C’s. A Framework for “Go-To- Market”

Details of the GTM Strategy Customer Company Competition Who is your customer ? Why does your product matter ? What is your mission ? What is your vision ? What is your positioning ? Who is the competition? How is your product different?

Technology Adoption Life Cycle Source: Cooper and Vlaskovitz in Guide to Entrepreneurship

 Early Adaptors: The Early Market Customers are visionaries, technology enthusiasts. Each new deal is greeted with enthusiasm. Product is still immature.  The Chasm This is the most important step, the transition from visionaries to protagonist. Define target market, product concept, positioning, marketing strategy, distribution, price.  The early Majority: In the Bowling Alley Product is endorsed by niche markets. Sales cycles are predictable with good margins. Outside these confines, there are only opportunistic sales, often at significant discount.  Late Majority: Inside the Tornado The mainstream marketplace has taken off. A market leader has emerged, establishing the de facto standards.  Laggard: On Main Street The hyper-growth era is over. Market growth slows down as the market saturates. To expand further some modify their "standard offerings" to appeal to niche markets.  End of Life: This category of product is passing out of the market, being displaced by a new category. Crossing the Chasm

GTM Strategy - Customer Consumer/Customer Competition/Company Channel/Connection Who is your customer? Why does your product matter? Who is the competition ? How is your product different ? What will prospects pay? What is your positioning ? How will you sustain competitive advantage? What channel (s), partners and media will most effectively and efficiently reach your prospects and successful retain them?

Identify your Target Customer

 User personas are fictional characters created to represent the different user types that might use a site, brand, or product in a similar way.  Does your product provide value to its personas?  Demographic  Age, Gender, Family Size, Income, Education, Language  Geographic  Country, City, Climate, Population  Psychographic  Lifestyle, Interests, Attitude User Personas

User Persona - Example Source: Smashing Magazine

Once you define WHO and WHY, estimate target SIZE Market Sizing Total Available Market TAM = Total Available Market How big is the universe? (top down ~industry, bottom up ~ # users X price) SAM = Market you “could” Serve How many can I reach with my sales channel? Target Market (for a startup) = Who will be the most likely buyers? What’s the basis for your revenue projections? (Name market, quantify R$) Served Available Market Target Market Consumer/Custom er

GTM Strategy - Company

Mission & Vision

 Mission: "Facebook's mission is to give people the power to share and make the world more open and connected.”  Vision: "People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them." Example: Facebook

GTM Strategy - Competition

 For company: helps define both what you do & do NOT do  For customers: context for evaluating your value  Challenge is to identify the MEANINGFUL differentiators —price, performance, service, image, etc. Assess Competition Source: Betsy Sperry, One Degree More Less Black White

Competitive SWOT Analysis

How Are You Going to Grow? Source: imbue creative

 Landing page: Place to send traffic to learn more, convert.  SEO: Make sure that page is optimized for search traffic.  Marketing Automation: Get the right tools/technologies to optimize and automate your efforts.  Marketing Analytics: You must track everything from the beginning to be able to show growth and make decisions.  Social Media: Test with variety of channels. Followers don’t come overnight.  Content Creation: The hottest trend in marketing. Build content that your users want to receive.  Collect s to retain and message users. Marketing Mix

 High  Premium Good  Large margins  Small user base  Low  Discount  Small margins, high quantities  Medium to large user base  Ad model  CPM based ads  Large user base  Freemium  Micro transactions  Large user base Monetization

Distribution: Hardware

Distribution: Apps

Takeaways  Step 1: Layout Your GTM Plan  Customers  Build user personas to define segment  Company  Define who you are as a company, why you matter  Competition  Analyze your competition to ensure you offer more  Step 2: Build a Marketing Mix  Test various channels, seek opportunity  Step 3: Create a Monetization Strategy  Understand Distribution and sales Opportunities

Questions?