SlideShare une entreprise Scribd logo
1  sur  27
Télécharger pour lire hors ligne
New Product Marketing 101
Marco Muzzi, Marketing Director, linkett
1
My Backstory
• Started first business at 16 (ecommerce), second
at age 20 (marketing consulting)
• Named one of Canada’s Top 20 Future
Entrepreneurial Leaders by Profit Magazine at 24
(2012)
• Previous start-up grew from 7 people to 70, plus
$10MM IPO
• Current start-up working to close first major
round of funding
2
today’s presentation
• I’m going to share “growth hacks” to launching a new product.
• There are 3 phases we’ll cover:
1. Product Development
2. Business Model Development
3. Marketing the Product
3
PRODUCT DEVELOPMENT HACKS
4
one simple
product development philosophy:
5
WHAT IS THE CONSUMER
TRYING TO DO?
Opportunity Identification: 5 C’s
1. Problem Identification [Circumstance] - create a matrix of consumer problems
and possible solutions (products or services)
2. [Stalking] Context Immersion - observe a consumer as they attempt to solve a
particular challenge
3. Barrier Crushing - understand why consumers aren’t solving a problem,
especially if there are obvious solutions
4. Compensating Behaviours - identify if the consumers are using alternative, yet
unrelated, products or services to achieve their desired outcome
5. Criteria Development - determine how consumers assess possible solutions and
how to build these into your product or service
6Repurposed from: https://hbr.org/2012/10/the-five-cs-of-opportunity-identi/
bootstrap market validation: 3 steps
1) Build a customer profile
Using the information gathered from your opportunity identification, create a detailed “ideal
customer” profile [i.e. who is most likely to buy this?]; leverage industry association contacts
as soundboards.
2) Build a market profile
Use secondary research to quickly assess the viability of the market you've identified;
infographics, research reports, books and news articles will provide you with more than
enough data.
3) Assess your market
Once you're reasonably confident a market has potential, sit down with a handful of
prospective customers, or people with experience, and ask pointed questions about how to
penetrate the market and reach your desired audience.
7Repurposed from: http://www.entrepreneur.com/article/71816
Product Development: MVP
• Everyone needs an “MVP”:
• A Minimum Viable Product is the smallest thing you can build that delivers
value to your customer, while also generating revenue for your business.
• Why?
1. Market research 2.0 - get real-world feedback quicker
2. Identify evangelists - start engaging early adopters sooner, building a
groundswell for forthcoming launches
3. Generate revenue (today!) - MVP revenue contributes to covering costs
of product development and growing the business to it’s next iteration
8Repurposed from: http://leanstack.com/minimum-viable-product/
Product Development: bring it to life
• At the highest level, there are two methods to building a product:
“DIY” and Licensing.
• DIY [Do it Yourself] - building the product from scratch, in-house
• Licensing - using non-internal inputs to create the product (in whole
or in part)
9
Building The Business Model
10
The Business Model Challenge
• Food-on-the-table vs. Pie-in-the-sky dilemma: Early-stage companies
often wrestle with building a business that makes money vs. creating
the business they’ve envisioned in their minds (or that fills a long-
term market opportunity).
• The challenge rests in needing to establish a sustainable business that
meets consumer needs today and tomorrow, but with exceptionally
limited resources.
• Examples - LINKETT + AcuityAds
11
The Answer: All Of The Above
• You’ll want to start by putting food on the table & building for the long
term at the same time:
• Short term model - easy to use/consume, habit building, address
primary consumer needs at an adequate level, delivers immediate
revenue
• Long term - potentially more involved usage/consumption process,
build on previously established habits or form new ones, over delivers
on primary needs and addresses tertiary needs
12
How Tell If It’s Working: SWOT
• The best way to do this is to complete periodic SWOT’s on your business
(and model):
• Strengths - what have we done well; what were our biggest successes;
what’s moving in the right direction?
• Weaknesses - what didn’t work; what’s costing us money; what is
moving in the wrong direction?
• Opportunities - where is the market trending; what are our customers
asking for?
• Threats - what is the competition doing; what are governments doing?
13
Marketing
14
How to build a startup brand
1. Develop a relevant brand name [simple, easily pronounced,
memorable]
2. Craft a unique tagline [5 words or less, focused on benefits]
3. Build detailed brand guidelines [objectify your brand]
15
How to Build Your Marketing Plan
• Simple 4 step process (“4 M’s of Marketing”):
1. Motivations - identify the core needs you’ll focus on in your advertising
2. Messaging - craft messages that communicate your benefits based on
the consumer’s need
3. Media - let the consumer’s behaviour and your message dictate which
media you target (hint: it’s different for everyone)
4. Metrics - ensure you’ve developed simple, objective benchmarks to
evaluate your performance
16
Secret Sauce: Growth hacking
• How startups generate buzz with zero budget (priority order):
1. Content Marketing - provide content of value (i.e. answer questions, inform on
new trends, etc.), use intelligent scheduling, distribute aggressively
2. PR - consistently tell a story, involve media early, build relationships with media
or work with someone who has
3. Social Media - build a launchpad for your content marketing, pr, and business
development
4. Retargeting - leverage advanced, yet accessible online advertising tools to create
highly targeted campaigns
17
You’re Going to Need These
• Early on, the 3 most useful digital marketing tools are:
• The explainer video - explain your product in 2 minutes or less (benefits,
benefits, key features)
• Programmatic digital marketing - this is the most efficient and transparent way
to invest marketing dollars early on (easily monitor and manage performance in
real-time, hyper-target audience groups)
• CRM Software - serves as the “data hub” for your sales staff, helping to
automate customer relationships and unearth consumer behaviour trends
18
In The End
1. Build your product around helping consumers solve
a problem.
2. Generate revenue from delivering value and
understanding your market.
3. Develop a brand that is flexibly structured.
19
Thank You
twitter: m_muzzi
tenthousandcoffees.com/profile/marco-muzzi
20
Bonus
21
What working in a startup is really like
• Crazy hours
• Lots of fun or lots of pain - depends on culture
• Not as financially rewarding as you expect
22
3 tips for getting a job
1. Killer Resume - BlueSky Resume Course
2. Solid Digital Profile - Linkedin, Personal
Website, etc.
3. Networking - attend industry events,
conferences, or even volunteer time on
different boards to raise your profile
23
Appendix
24
Opportunity validation [Product Selection]
• How to prioritize the opportunities worth pursuing [research]
• Summarize questions here (try to reduce the list): http://www.entrepreneur.com/
article/237983
• Ansoff Matrix https://en.wikipedia.org/wiki/Ansoff_Matrix
• Set up transition into next slide (MVP) - i.e. “sell something…”
25
Pricing
• Depending on your business model, there is a pricing approach which is very popular in the
startup space [the Persona Approach]. Here’s how it works:
1. Segment your customer profile - what features/benefits do they care more about, what
is their LTV and CAC, what will each group pay for what they want?
2. Bundle features - your profile segmentation will yield the most desirable features across
all consumer groups - use this to build product feature bundles.
3. Determine your value metric - how are you going to charge the consumer (per unit, per
user, % of sales, etc.)?
4. Determine your price - use your data to set a price point that delivers value (for
everyone); don’t be afraid to check the competition’s price.
26Repurposed from: http://www.priceintelligently.com/blog/how-to-find-the-best-pricing-strategy-for-a-saas-product
Pricing Hacks
• Emotion based purchase decision - use round price ($19 vs. $19.99)
• Separate shipping and handling - $10 + shipping & handling
• Smaller pricing font affects perception - it’s seen as being less expensive
• Remove the dollar sign where possible - it triggers negative emotions
27Repurposed from: http://www.nickkolenda.com/psychological-pricing-strategies/#pricing-s2-t2

Contenu connexe

Tendances

Disruptive Marketing - Emeric Delalandre
Disruptive Marketing - Emeric DelalandreDisruptive Marketing - Emeric Delalandre
Disruptive Marketing - Emeric DelalandreEmeric Delalandre
 
Optimizing product marketing boston product camp 2016 - saeed khan
Optimizing product marketing   boston product camp 2016 - saeed khanOptimizing product marketing   boston product camp 2016 - saeed khan
Optimizing product marketing boston product camp 2016 - saeed khanSaeed Khan
 
Essentials of a product marketing strategy
Essentials of a product marketing strategyEssentials of a product marketing strategy
Essentials of a product marketing strategyRahul Thomas Mathew
 
Marketing Plan Breakthrough_S6PEC Framework
Marketing Plan Breakthrough_S6PEC FrameworkMarketing Plan Breakthrough_S6PEC Framework
Marketing Plan Breakthrough_S6PEC Frameworkbites consulting
 
Produce the Perfect Product Launch
Produce the Perfect Product LaunchProduce the Perfect Product Launch
Produce the Perfect Product LaunchThe Marx Group
 
Product marketing manager communication skills pdf
Product marketing manager communication skills pdfProduct marketing manager communication skills pdf
Product marketing manager communication skills pdfjess89058
 
How to launch a new product
How to launch a new productHow to launch a new product
How to launch a new productNicole Franco
 
Go-to-market strategy and positioning
Go-to-market strategy and positioningGo-to-market strategy and positioning
Go-to-market strategy and positioningLisa Enckell
 
The seven stages of the Product Marketing launch process.
The seven stages of the Product Marketing launch process.The seven stages of the Product Marketing launch process.
The seven stages of the Product Marketing launch process.Matthew Dunstan
 
The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...CompellingPM
 
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...Daniel Nilsson
 
How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012CompellingPM
 
Nonprofit Marketing Plan Template - Summary
Nonprofit Marketing Plan Template - SummaryNonprofit Marketing Plan Template - Summary
Nonprofit Marketing Plan Template - SummaryKivi Leroux Miller
 
Introduction to Product Marketing
Introduction to Product MarketingIntroduction to Product Marketing
Introduction to Product MarketingRichard Hatheway
 
BNC Direct-to-consumer Webinar - November 2015 - Brian O'Leary
BNC Direct-to-consumer Webinar - November 2015 - Brian O'LearyBNC Direct-to-consumer Webinar - November 2015 - Brian O'Leary
BNC Direct-to-consumer Webinar - November 2015 - Brian O'LearyBookNet Canada
 
What is product marketing
What is product marketingWhat is product marketing
What is product marketingShahnawaz Karim
 
W1 marketing creating customer value and engagement
W1   marketing creating customer value and engagementW1   marketing creating customer value and engagement
W1 marketing creating customer value and engagementfaizaperbanas
 

Tendances (20)

Disruptive Marketing - Emeric Delalandre
Disruptive Marketing - Emeric DelalandreDisruptive Marketing - Emeric Delalandre
Disruptive Marketing - Emeric Delalandre
 
Optimizing product marketing boston product camp 2016 - saeed khan
Optimizing product marketing   boston product camp 2016 - saeed khanOptimizing product marketing   boston product camp 2016 - saeed khan
Optimizing product marketing boston product camp 2016 - saeed khan
 
Essentials of a product marketing strategy
Essentials of a product marketing strategyEssentials of a product marketing strategy
Essentials of a product marketing strategy
 
Marketing Plan Breakthrough_S6PEC Framework
Marketing Plan Breakthrough_S6PEC FrameworkMarketing Plan Breakthrough_S6PEC Framework
Marketing Plan Breakthrough_S6PEC Framework
 
Produce the Perfect Product Launch
Produce the Perfect Product LaunchProduce the Perfect Product Launch
Produce the Perfect Product Launch
 
Product marketing manager communication skills pdf
Product marketing manager communication skills pdfProduct marketing manager communication skills pdf
Product marketing manager communication skills pdf
 
How to launch a new product
How to launch a new productHow to launch a new product
How to launch a new product
 
Go-to-market strategy and positioning
Go-to-market strategy and positioningGo-to-market strategy and positioning
Go-to-market strategy and positioning
 
The seven stages of the Product Marketing launch process.
The seven stages of the Product Marketing launch process.The seven stages of the Product Marketing launch process.
The seven stages of the Product Marketing launch process.
 
MM2 - Marketing Plan - Part 1
MM2 - Marketing Plan - Part 1MM2 - Marketing Plan - Part 1
MM2 - Marketing Plan - Part 1
 
The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...
 
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
 
How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012
 
Nonprofit Marketing Plan Template - Summary
Nonprofit Marketing Plan Template - SummaryNonprofit Marketing Plan Template - Summary
Nonprofit Marketing Plan Template - Summary
 
Introduction to Product Marketing
Introduction to Product MarketingIntroduction to Product Marketing
Introduction to Product Marketing
 
BNC Direct-to-consumer Webinar - November 2015 - Brian O'Leary
BNC Direct-to-consumer Webinar - November 2015 - Brian O'LearyBNC Direct-to-consumer Webinar - November 2015 - Brian O'Leary
BNC Direct-to-consumer Webinar - November 2015 - Brian O'Leary
 
Communication strategy
Communication strategyCommunication strategy
Communication strategy
 
5 Stages of Disruptive Marketing
5 Stages of Disruptive Marketing5 Stages of Disruptive Marketing
5 Stages of Disruptive Marketing
 
What is product marketing
What is product marketingWhat is product marketing
What is product marketing
 
W1 marketing creating customer value and engagement
W1   marketing creating customer value and engagementW1   marketing creating customer value and engagement
W1 marketing creating customer value and engagement
 

Similaire à New Product Marketing 101

Go-to-Market Strategy
Go-to-Market StrategyGo-to-Market Strategy
Go-to-Market StrategyJeremy Horn
 
Successful Marketing Starts with a Strategy
Successful Marketing Starts with a StrategySuccessful Marketing Starts with a Strategy
Successful Marketing Starts with a StrategyKatie Spence
 
How to build a startup new frontiers 2017
How to build a startup  new frontiers 2017How to build a startup  new frontiers 2017
How to build a startup new frontiers 2017Raomal Perera
 
How to Build and Finance Very Successful Start Ups the coming 10 years
How to Build and Finance Very  Successful  Start Ups the coming 10 yearsHow to Build and Finance Very  Successful  Start Ups the coming 10 years
How to Build and Finance Very Successful Start Ups the coming 10 yearsMike Mastroyiannis
 
Successful Marketing Starts With A Strategy
Successful Marketing Starts With A StrategySuccessful Marketing Starts With A Strategy
Successful Marketing Starts With A StrategySpryIdeas
 
Product management 8-2
Product management 8-2Product management 8-2
Product management 8-2Ling GAO
 
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptx
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptxLecture 10 - B2B Marketing & Digital Customer Relationship Management.pptx
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptxFaizanGul6
 
Disciplined Entrepreneurship
Disciplined EntrepreneurshipDisciplined Entrepreneurship
Disciplined EntrepreneurshipSahand Samiei
 
The-Product-Strategy-Playbook-by-ProductPlan.pdf
The-Product-Strategy-Playbook-by-ProductPlan.pdfThe-Product-Strategy-Playbook-by-ProductPlan.pdf
The-Product-Strategy-Playbook-by-ProductPlan.pdfInoruption Systems
 
The Product Strategy Playbook.pdf
The Product Strategy Playbook.pdfThe Product Strategy Playbook.pdf
The Product Strategy Playbook.pdfvineeth40
 
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...VicHealth Physical Activity Innovation Challenge Concept Development Workshop...
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...Doing Something Good
 
Lesson 1 Entrepreneurship.pptx
Lesson 1 Entrepreneurship.pptxLesson 1 Entrepreneurship.pptx
Lesson 1 Entrepreneurship.pptxJehanPLomecio
 
24 گام راه اندازی کسب و کار نوپا
24 گام راه اندازی کسب و کار نوپا24 گام راه اندازی کسب و کار نوپا
24 گام راه اندازی کسب و کار نوپاAli Ganjizadeh
 
Digital Lead Generation for Economic Development
Digital Lead Generation for Economic DevelopmentDigital Lead Generation for Economic Development
Digital Lead Generation for Economic DevelopmentAtlas Integrated
 
12 Lean Startup Models
12 Lean Startup Models12 Lean Startup Models
12 Lean Startup ModelsDonncha Hughes
 
Using Product Management Canvas
Using Product Management CanvasUsing Product Management Canvas
Using Product Management CanvasDinker Charak
 
Principles of marketing chpter 09 theory
Principles of marketing chpter 09 theoryPrinciples of marketing chpter 09 theory
Principles of marketing chpter 09 theoryPartha Protim Roy Niloy
 
What VCs want to know (and why)
What VCs want to know (and why)What VCs want to know (and why)
What VCs want to know (and why)Benoit Wirz
 

Similaire à New Product Marketing 101 (20)

Go-to-Market Strategy
Go-to-Market StrategyGo-to-Market Strategy
Go-to-Market Strategy
 
Successful Marketing Starts with a Strategy
Successful Marketing Starts with a StrategySuccessful Marketing Starts with a Strategy
Successful Marketing Starts with a Strategy
 
How to build a startup new frontiers 2017
How to build a startup  new frontiers 2017How to build a startup  new frontiers 2017
How to build a startup new frontiers 2017
 
How to Build and Finance Very Successful Start Ups the coming 10 years
How to Build and Finance Very  Successful  Start Ups the coming 10 yearsHow to Build and Finance Very  Successful  Start Ups the coming 10 years
How to Build and Finance Very Successful Start Ups the coming 10 years
 
Mc4 e growth_hacking_2hr_gsew_MVPDraft1
Mc4 e growth_hacking_2hr_gsew_MVPDraft1Mc4 e growth_hacking_2hr_gsew_MVPDraft1
Mc4 e growth_hacking_2hr_gsew_MVPDraft1
 
Successful Marketing Starts With A Strategy
Successful Marketing Starts With A StrategySuccessful Marketing Starts With A Strategy
Successful Marketing Starts With A Strategy
 
Product management 8-2
Product management 8-2Product management 8-2
Product management 8-2
 
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptx
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptxLecture 10 - B2B Marketing & Digital Customer Relationship Management.pptx
Lecture 10 - B2B Marketing & Digital Customer Relationship Management.pptx
 
Disciplined Entrepreneurship
Disciplined EntrepreneurshipDisciplined Entrepreneurship
Disciplined Entrepreneurship
 
The-Product-Strategy-Playbook-by-ProductPlan.pdf
The-Product-Strategy-Playbook-by-ProductPlan.pdfThe-Product-Strategy-Playbook-by-ProductPlan.pdf
The-Product-Strategy-Playbook-by-ProductPlan.pdf
 
The Product Strategy Playbook.pdf
The Product Strategy Playbook.pdfThe Product Strategy Playbook.pdf
The Product Strategy Playbook.pdf
 
Strategic market management gt
Strategic market management gtStrategic market management gt
Strategic market management gt
 
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...VicHealth Physical Activity Innovation Challenge Concept Development Workshop...
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...
 
Lesson 1 Entrepreneurship.pptx
Lesson 1 Entrepreneurship.pptxLesson 1 Entrepreneurship.pptx
Lesson 1 Entrepreneurship.pptx
 
24 گام راه اندازی کسب و کار نوپا
24 گام راه اندازی کسب و کار نوپا24 گام راه اندازی کسب و کار نوپا
24 گام راه اندازی کسب و کار نوپا
 
Digital Lead Generation for Economic Development
Digital Lead Generation for Economic DevelopmentDigital Lead Generation for Economic Development
Digital Lead Generation for Economic Development
 
12 Lean Startup Models
12 Lean Startup Models12 Lean Startup Models
12 Lean Startup Models
 
Using Product Management Canvas
Using Product Management CanvasUsing Product Management Canvas
Using Product Management Canvas
 
Principles of marketing chpter 09 theory
Principles of marketing chpter 09 theoryPrinciples of marketing chpter 09 theory
Principles of marketing chpter 09 theory
 
What VCs want to know (and why)
What VCs want to know (and why)What VCs want to know (and why)
What VCs want to know (and why)
 

Dernier

MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Amazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyAmazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyfashionfound007
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First RespondersBPOQe
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)tazeenaila12
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toumarfarooquejamali32
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examplesamberjiles31
 
Personal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaPersonal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaEricBonilla13
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfHajeJanKamps
 
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxChapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxesiyasmengesha
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Winbusinessin
 

Dernier (20)

MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Amazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyAmazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the company
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First Responders
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb to
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examples
 
Personal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaPersonal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric Bonilla
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
 
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxChapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024
 

New Product Marketing 101

  • 1. New Product Marketing 101 Marco Muzzi, Marketing Director, linkett 1
  • 2. My Backstory • Started first business at 16 (ecommerce), second at age 20 (marketing consulting) • Named one of Canada’s Top 20 Future Entrepreneurial Leaders by Profit Magazine at 24 (2012) • Previous start-up grew from 7 people to 70, plus $10MM IPO • Current start-up working to close first major round of funding 2
  • 3. today’s presentation • I’m going to share “growth hacks” to launching a new product. • There are 3 phases we’ll cover: 1. Product Development 2. Business Model Development 3. Marketing the Product 3
  • 5. one simple product development philosophy: 5 WHAT IS THE CONSUMER TRYING TO DO?
  • 6. Opportunity Identification: 5 C’s 1. Problem Identification [Circumstance] - create a matrix of consumer problems and possible solutions (products or services) 2. [Stalking] Context Immersion - observe a consumer as they attempt to solve a particular challenge 3. Barrier Crushing - understand why consumers aren’t solving a problem, especially if there are obvious solutions 4. Compensating Behaviours - identify if the consumers are using alternative, yet unrelated, products or services to achieve their desired outcome 5. Criteria Development - determine how consumers assess possible solutions and how to build these into your product or service 6Repurposed from: https://hbr.org/2012/10/the-five-cs-of-opportunity-identi/
  • 7. bootstrap market validation: 3 steps 1) Build a customer profile Using the information gathered from your opportunity identification, create a detailed “ideal customer” profile [i.e. who is most likely to buy this?]; leverage industry association contacts as soundboards. 2) Build a market profile Use secondary research to quickly assess the viability of the market you've identified; infographics, research reports, books and news articles will provide you with more than enough data. 3) Assess your market Once you're reasonably confident a market has potential, sit down with a handful of prospective customers, or people with experience, and ask pointed questions about how to penetrate the market and reach your desired audience. 7Repurposed from: http://www.entrepreneur.com/article/71816
  • 8. Product Development: MVP • Everyone needs an “MVP”: • A Minimum Viable Product is the smallest thing you can build that delivers value to your customer, while also generating revenue for your business. • Why? 1. Market research 2.0 - get real-world feedback quicker 2. Identify evangelists - start engaging early adopters sooner, building a groundswell for forthcoming launches 3. Generate revenue (today!) - MVP revenue contributes to covering costs of product development and growing the business to it’s next iteration 8Repurposed from: http://leanstack.com/minimum-viable-product/
  • 9. Product Development: bring it to life • At the highest level, there are two methods to building a product: “DIY” and Licensing. • DIY [Do it Yourself] - building the product from scratch, in-house • Licensing - using non-internal inputs to create the product (in whole or in part) 9
  • 11. The Business Model Challenge • Food-on-the-table vs. Pie-in-the-sky dilemma: Early-stage companies often wrestle with building a business that makes money vs. creating the business they’ve envisioned in their minds (or that fills a long- term market opportunity). • The challenge rests in needing to establish a sustainable business that meets consumer needs today and tomorrow, but with exceptionally limited resources. • Examples - LINKETT + AcuityAds 11
  • 12. The Answer: All Of The Above • You’ll want to start by putting food on the table & building for the long term at the same time: • Short term model - easy to use/consume, habit building, address primary consumer needs at an adequate level, delivers immediate revenue • Long term - potentially more involved usage/consumption process, build on previously established habits or form new ones, over delivers on primary needs and addresses tertiary needs 12
  • 13. How Tell If It’s Working: SWOT • The best way to do this is to complete periodic SWOT’s on your business (and model): • Strengths - what have we done well; what were our biggest successes; what’s moving in the right direction? • Weaknesses - what didn’t work; what’s costing us money; what is moving in the wrong direction? • Opportunities - where is the market trending; what are our customers asking for? • Threats - what is the competition doing; what are governments doing? 13
  • 15. How to build a startup brand 1. Develop a relevant brand name [simple, easily pronounced, memorable] 2. Craft a unique tagline [5 words or less, focused on benefits] 3. Build detailed brand guidelines [objectify your brand] 15
  • 16. How to Build Your Marketing Plan • Simple 4 step process (“4 M’s of Marketing”): 1. Motivations - identify the core needs you’ll focus on in your advertising 2. Messaging - craft messages that communicate your benefits based on the consumer’s need 3. Media - let the consumer’s behaviour and your message dictate which media you target (hint: it’s different for everyone) 4. Metrics - ensure you’ve developed simple, objective benchmarks to evaluate your performance 16
  • 17. Secret Sauce: Growth hacking • How startups generate buzz with zero budget (priority order): 1. Content Marketing - provide content of value (i.e. answer questions, inform on new trends, etc.), use intelligent scheduling, distribute aggressively 2. PR - consistently tell a story, involve media early, build relationships with media or work with someone who has 3. Social Media - build a launchpad for your content marketing, pr, and business development 4. Retargeting - leverage advanced, yet accessible online advertising tools to create highly targeted campaigns 17
  • 18. You’re Going to Need These • Early on, the 3 most useful digital marketing tools are: • The explainer video - explain your product in 2 minutes or less (benefits, benefits, key features) • Programmatic digital marketing - this is the most efficient and transparent way to invest marketing dollars early on (easily monitor and manage performance in real-time, hyper-target audience groups) • CRM Software - serves as the “data hub” for your sales staff, helping to automate customer relationships and unearth consumer behaviour trends 18
  • 19. In The End 1. Build your product around helping consumers solve a problem. 2. Generate revenue from delivering value and understanding your market. 3. Develop a brand that is flexibly structured. 19
  • 22. What working in a startup is really like • Crazy hours • Lots of fun or lots of pain - depends on culture • Not as financially rewarding as you expect 22
  • 23. 3 tips for getting a job 1. Killer Resume - BlueSky Resume Course 2. Solid Digital Profile - Linkedin, Personal Website, etc. 3. Networking - attend industry events, conferences, or even volunteer time on different boards to raise your profile 23
  • 25. Opportunity validation [Product Selection] • How to prioritize the opportunities worth pursuing [research] • Summarize questions here (try to reduce the list): http://www.entrepreneur.com/ article/237983 • Ansoff Matrix https://en.wikipedia.org/wiki/Ansoff_Matrix • Set up transition into next slide (MVP) - i.e. “sell something…” 25
  • 26. Pricing • Depending on your business model, there is a pricing approach which is very popular in the startup space [the Persona Approach]. Here’s how it works: 1. Segment your customer profile - what features/benefits do they care more about, what is their LTV and CAC, what will each group pay for what they want? 2. Bundle features - your profile segmentation will yield the most desirable features across all consumer groups - use this to build product feature bundles. 3. Determine your value metric - how are you going to charge the consumer (per unit, per user, % of sales, etc.)? 4. Determine your price - use your data to set a price point that delivers value (for everyone); don’t be afraid to check the competition’s price. 26Repurposed from: http://www.priceintelligently.com/blog/how-to-find-the-best-pricing-strategy-for-a-saas-product
  • 27. Pricing Hacks • Emotion based purchase decision - use round price ($19 vs. $19.99) • Separate shipping and handling - $10 + shipping & handling • Smaller pricing font affects perception - it’s seen as being less expensive • Remove the dollar sign where possible - it triggers negative emotions 27Repurposed from: http://www.nickkolenda.com/psychological-pricing-strategies/#pricing-s2-t2