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Be creative. Use unconventional thinking. Become strategic.
Sales Skills
                  Prospecting
                  Asking Questions
                  Finding Pain
                  Uncovering Budget
                  Gaining Commitment
Personal Skills
Goal Achieving
Resilency
Self-starter
Reslts Oriented
Self Management
                  Job Skills
                  Product or Industry
                  Knowledge
                  Sales Experience
                  Market Knowledge
                  Education
Increasing
Account      Inside	
  	
      Direct	
  	
  
                                                          Solu1on	
  Selling	
  
Size         Sales	
           Sales	
  
And
Importance




             Retail	
  /	
                 Indirect	
  /	
  
             Online	
                      Partners	
  



                   Increasing Complexity of Transaction
Let your Customer
            help you choose.

            Big is not always
            best for a startup.
PARTNER
MARKETING
Prospects 10%



Validated 25%



Qualified 10%   1 in 10 chance of
                 success at each
Best Few 90%
                      stage
    Won


    POST        Start up is closer
                   to 1 in 25
Marke1ng	
  campaigns	
  
                Sales	
  Sheets	
  
                Presenta1ons	
  
                         Reference	
  Story	
  
Prospects 10%            Solu1on	
  Sales	
  Sheets	
  
                         Customized	
  Presenta1ons	
  
Validated 25%   Demo	
  
                Sponsor	
  LeAer	
  
                Custom	
  Value	
  Proposi1on	
  
Qualified 10%

                         Solu1on	
  Blue	
  Print	
  
                         Proposal	
  
Best Few 90%
                         Specific	
  Pricing	
  
    Won         Implementa1on	
  
    POST
                Billing	
  

                         Customer	
  Management	
  
                         Stable	
  Opera1ons	
  
Social media is the
  new cold call.

Thought leadership
 over social media
channels creates a
    pull effect.

 Adds the “network
effect” to your sales
       funnel.
Stakeholder	
   Map	
  
     Economic	
  Buyers	
                        User	
  Buyers	
  

     final	
  authority	
  to	
             use	
  or	
  supervise	
  the	
  
     release	
  the	
  funds	
  	
         use	
  of	
  your	
  product	
  

     Technical	
  Buyers	
                          Coaches	
  
 judge	
  and	
  rule	
  on	
  your	
  
                                        guide	
  you	
  in	
  the	
  sale	
  
    product s	
  	
  specs	
  

             Create	
  WIN	
  WIN	
  with	
  each.	
  
Determine	
  and	
  rank	
  degrees	
  of	
  influence	
  honestly.	
  
    Analyze	
  your	
  posi1on	
  with	
  each	
  honestly.	
  
Partners	
  
Licensors	
  
Simplicity	
  
Pilot	
  


            Reference	
  
            Revenue	
  
            Margin	
  
For	
  every	
  10	
      You	
  may	
  get	
  
                                                  To	
  generate	
  
  cold	
  calls	
          to	
  make	
  3	
  
     made	
              presenta1ons	
  
                                                        1	
  sale	
  




                                                          Note Startups have
                                                           the 25-3-1 rule
Good sales people face rejection every
         day and still smile!
Be	
  clear	
  on	
  ..	
  
   •  what’s	
  in	
  it	
  for	
  them	
  
   •  mee1ng	
  purpose	
  
   •  your	
  value	
  
        proposi1on	
  
   •  1me	
  allotment	
  
   •  who’s	
  aAending	
  
   •  facili1es	
  	
  
¨ Title
¨ Problem hook
¨ Problem explanation
¨ Customer impact
¨ Big idea insight
¨ Solution (value proposition)
¨ Underlying magic
¨ Team and credentials
¨ Partners and customers
¨ Summary
2	
  ears	
  &	
  1	
  mouth	
  
	
  
Use	
  in	
  that	
  propor1on!	
  
Nathan Monk (‘Digital Cowboy’)
Sr. Associate, Info. Technology, Communications & Entertainment (ICE)

Bio:

• ICE advisory team member with focus on consumer ent. &
ecommerce companies
• Have a strong passion for entrepreneurship
• ‘Lean Startup’ practitioner
• Digital marketer, sales and BD professional
• Experience: CBC, CanWest, OgilvyOne and Yahoo!

Follow me:

@Cowboytweets

Linkedin.com/in/nathanmonk

marsdd.com/blog/author/nmonk/feed/
How	
  do	
  we	
  break	
  through	
  the	
  noise?	
  
‘Posi1oning	
  is	
  not	
  what	
  you	
  do	
  to	
  a	
  product.	
  
Posi1oning	
  is	
  what	
  you	
  do	
  to	
  the	
  mind	
  of	
  
the	
  prospect.	
  That	
  is,	
  you	
  posi1on	
  the	
  
product	
  in	
  the	
  mind	
  of	
  the	
  prospect.’	
  
         	
        	
        	
         	
  	
  
         	
        	
        	
         	
  -­‐	
  Al	
  Ries,	
  Posi1oning
5	
  steps	
  to	
  start	
  ‘breaking	
  through	
  the	
  noise’:	
  
	
  
1.  Understand	
  your	
  Product	
  (Unique	
  Selling	
  Prop.)	
  and	
  validate	
  it.	
  

2.     Understand	
  your	
  Market	
  (Where	
  am	
  I	
  selling?)	
  and	
  validate	
  it.	
  

3.     Understand	
  your	
  Target	
  (Who	
  am	
  I	
  selling	
  to?)	
  and	
  validate	
  it.	
  

4.     Understand	
  your	
  Timing	
  (When	
  do	
  I	
  sell?)	
  and	
  validate	
  it.	
  

5.     Understand	
  your	
  Tac;cs	
  (How	
  do	
  I	
  reach	
  them?)	
  and	
  validate	
  it.	
  	
  
Unique	
  Value	
  Proposi;on	
  
        	
  




‘A	
  single,	
  clear	
  and	
  compelling	
  message	
  that	
  states	
  why	
  you	
  
are	
  different	
  and	
  worth	
  buying.’	
  
               	
     	
         	
          	
          	
  -­‐	
  Steve	
  Blank,	
  The	
  Four	
  Steps	
  to	
  the	
  Epiphany	
  	
  
Features	
  




5	
  steps	
  to	
  developing	
  clear	
  and	
  compelling	
  features:	
  
1.  Pick	
  the	
  ‘most	
  valuable’	
  features	
  	
  (beware	
  of	
  feature	
  creep).	
  
2.  Pick	
  what	
  makes	
  it	
  different	
  to	
  the	
  target.	
  
3.  Pick	
  the	
  greatest	
  solu1on	
  to	
  the	
  problems	
  the	
  target	
  has.	
  
4.  Build	
  a	
  ‘back	
  story’	
  (elements	
  which	
  make	
  it	
  magne1c).	
  
5.  Validate,	
  validate	
  and	
  validate	
  with	
  your	
  targets!	
  	
  
‘Your	
  objec;ve	
  is	
  to	
  find	
  a	
  big	
  enough	
  market	
  you	
  can	
  
reach	
  with	
  customers	
  who	
  need	
  your	
  product	
  that	
  will	
  
pay	
  a	
  price	
  you	
  can	
  build	
  a	
  business	
  around.’	
  
            	
            	
  -­‐	
  Ash	
  Maurya,	
  Running	
  Lean	
  	
  
	
  
5	
  steps	
  to	
  market	
  discovery:	
  
1.  Find	
  greatest	
  customer	
  segment	
  with	
  the	
  biggest	
  pain.	
  
2.  Ease	
  of	
  reach:	
  find	
  the	
  quickest	
  path	
  to	
  customers.	
  
3.  Price:	
  pick	
  a	
  customer	
  segment	
  that	
  allows	
  you	
  to	
  
        maximize	
  on	
  price.	
  
4.  Start	
  in	
  smaller	
  markets,	
  then	
  go	
  large.	
  
5.  Validate,	
  validate	
  and	
  validate!	
  
But	
  how	
  do	
  you	
  determine	
  you	
  have	
  the	
  correct	
  product/market	
  fit?	
  

1.  When	
  40%	
  of	
  your	
  users	
  are	
  returning	
  month	
  over	
  month	
  (Running	
  Lean)	
  
2.  When	
  you	
  pass	
  the	
  Sean	
  Ellis	
  test	
  by	
  asking	
  users:	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
How	
  would	
  you	
  feel	
  if	
  you	
  could	
  no	
  longer	
  use	
  the	
  (product):	
  
           •  Very	
  disappointed	
  
           •  Somewhat	
  disappointed	
  
           •  Not	
  disappointed	
  (it	
  isn’t	
  really	
  that	
  useful)	
  
           •  N/A	
  –	
  I	
  no	
  longer	
  use	
  (product)	
  
                 •  *If	
  over	
  40%	
  of	
  users	
  are	
  very	
  disappointed	
  you’ve	
  got	
  the	
  
                         right	
  market	
  	
  
3.  Get	
  paid.	
  
5	
  steps	
  to	
  define	
  your	
  Target:	
  
	
  
1.  Find	
  the	
  greatest	
  customer	
  segment	
  
        with	
  the	
  biggest	
  pain.	
  
2.  Ease	
  of	
  reach:	
  find	
  the	
  quickest	
  path	
  to	
  
        sustainable	
  customers.	
  
3.  Price:	
  pick	
  a	
  customer	
  segment	
  that	
  
        allows	
  you	
  to	
  maximize	
  on	
  price.	
  
4.  Start	
  in	
  smaller	
  markets,	
  then	
  go	
  large	
  
5.  Validate,	
  validate	
  and	
  validate!	
  



            	
            	
            	
            	
           	
  
5	
  deciding	
  factors	
  for	
  1ming	
  considera1on:	
  
	
  
1.  Budget	
  and	
  tac1cs.	
  
2.  Product	
  stage:	
  early	
  or	
  late	
  adopters?	
  
3.  When	
  &	
  where	
  is	
  the	
  target	
  most	
  recep1ve?	
  
4.  What	
  are	
  compe1tors	
  doing/have	
  done?	
  
5.  Is	
  there	
  any	
  event	
  you	
  can	
  1e	
  your	
  marke1ng	
  
       message	
  around?	
  
	
  



            	
           	
            	
           	
           	
  	
  
Tac1cs	
  for	
  your	
  considera1on	
  and	
  ‘budget’:	
  
	
  
1.  Online:	
  display,	
  SEM,	
  SEO	
  &	
  video	
  
2.  Mobile:	
  (tablet	
  and	
  smart	
  phone)	
  
3.  eMail	
  
4.  Print	
  
5.  OOO	
  
6.  TV	
  
7.  Events	
  &PR:	
  release,	
  blogs	
  &	
  community	
  outreach	
  
8.  Word-­‐of-­‐Mouth	
  and	
  Social	
  Media	
  
	
  
Before	
  you	
  start	
  marke1ng/selling:	
  
	
  
1.  Check	
  out	
  IAB	
  Canada:	
  iabcanada.com.	
  	
  
2.  Sign	
  up	
  for	
  eMarketer	
  &	
  mMarketer.	
  
3.  Build	
  a	
  one	
  page	
  marke1ng	
  plan	
  with	
  tac1cs.	
  
4.  Define	
  your	
  metrics	
  (See	
  Pirate	
  Metrics	
  for	
  StartUps.)	
  
5.  Check	
  out	
  marke1ng	
  op1miza1on	
  sonware	
  (e.g:	
  
     gShin	
  Labs	
  &	
  Highrise)	
  to	
  see	
  what	
  works	
  best.	
  
6.  Contact	
  ad	
  networks	
  for	
  low	
  cost	
  inventory.	
  
7.  Read:	
  StartUp	
  Marke1ng	
  Blog	
  by	
  Sean	
  Ellis	
  .	
  
8.  Read:	
  Posi1oning	
  by	
  Al	
  Ries	
  and	
  Running	
  Lean.	
  

	
  
5	
  things	
  to	
  know	
  about	
  Online:	
  Display,	
  SEM	
  and	
  Video	
  

1.  It	
  can	
  be	
  very	
  cost	
  effec1ve	
  and	
  highly	
  targeted:	
  loca1on,	
  1me	
  of	
  day	
  etc.	
  
2.  It’s	
  priced	
  CPM	
  or	
  CPC	
  (CPM	
  =	
  brand	
  awareness)	
  &	
  CPC	
  (CPC=direct	
  sale.)	
  	
  
3.  You	
  can	
  have	
  ad	
  units	
  built	
  easily	
  on	
  Elance.com,	
  Dribbble	
  or	
  independents.	
  
4.  You	
  can	
  find	
  sites	
  which	
  meet	
  your	
  target	
  criteria	
  on	
  Alexa.com.	
  
5.  	
  See	
  examples	
  of	
  ad	
  units	
  at:	
  IAB.net/guidelines…look	
  for	
  UAP	
  example.s	
  
	
  
Tip:	
  For	
  SEM	
  marke1ng	
  check	
  out	
  Google	
  Adver1sing	
  programs	
  




	
  
5	
  things	
  to	
  know	
  about	
  Mobile	
  adver1sing:	
  
1.  It’s	
  underu1lized,	
  can	
  be	
  cost	
  effec1ve	
  and	
  highly	
  targeted	
  (higher	
  CTR).	
  
2.  You	
  can	
  reach	
  folks	
  on-­‐the-­‐go	
  in	
  a	
  very	
  personal	
  environment.	
  
3.  You	
  can	
  reach	
  folks	
  across	
  different	
  devices:	
  BB,	
  iPhone,	
  Android	
  etc.	
  
4.  Easier	
  to	
  form	
  partnerships	
  with	
  mobile	
  app	
  developers	
  to	
  use	
  inventory.	
  
5.  Need	
  to	
  have	
  a	
  mobile	
  strategy	
  including	
  mobile	
  op1mized	
  site	
  (min),	
  app	
  
        or	
  site	
  across	
  smartphone	
  and	
  tablets	
  (max.).	
  
	
  
Tip:	
  Checkout	
  AdMob.com	
  for	
  more	
  informa1on.	
  Many	
  CDN	
  publishers	
  have	
  
mobile	
  ad	
  opportuni1es	
  as	
  well.	
  	
  

	
  
	
  
5	
  things	
  to	
  know	
  about	
  eMail	
  marke1ng:	
  

1.     A	
  great	
  way	
  to	
  reach	
  new	
  users.	
  
2.     A	
  great	
  way	
  to	
  engage	
  exis1ng	
  users.	
  
3.     An	
  exact	
  ROI	
  can	
  be	
  tracked	
  from	
  eMail.	
  
4.     A	
  great	
  way	
  to	
  obtain	
  feedback	
  and	
  test.	
  
5.     A	
  way	
  to	
  promote	
  across	
  proper1es	
  (site,	
  
       facebook,	
  twiAer	
  and	
  blog).	
  
	
  
Tip:	
  Check	
  out	
  MailChimp.com	
  for	
  more	
  
informa1on.	
  	
  

	
  
5	
  things	
  to	
  know	
  about	
  Print,	
  OOO	
  &	
  TV:	
  

1.     Can	
  be	
  more	
  expensive	
  then	
  other	
  media.	
  
2.     Can	
  reach	
  a	
  far	
  greater	
  amount	
  of	
  folks.	
  
3.     Can	
  be	
  costly	
  to	
  produce.	
  
4.     Can	
  not	
  be	
  tracked	
  as	
  easily.	
  
5.     Strong	
  brand	
  awareness	
  due	
  to	
  reach.	
  



Tip:	
  Visit	
  the	
  Canadian	
  Marke1ng	
  Associa1on	
  for	
  
more	
  informa1on	
  on	
  using	
  tradi1onal	
  media.	
  	
  

	
  
5	
  things	
  to	
  know	
  about	
  Events	
  and	
  PR:	
  

1.     Low-­‐cost	
  &	
  high	
  impact	
  mediums	
  for	
  startups.	
  
2.     Can	
  be	
  highly	
  targeted	
  and	
  effec1ve.	
  
3.     Allows	
  you	
  to	
  build	
  rela1onships	
  with	
  media.	
  
4.     Can	
  be	
  tracked	
  via	
  metrics.	
  
5.     Creates	
  awareness	
  and	
  provides	
  credibility.	
  

Tip:	
  Build	
  a	
  PR	
  and	
  events	
  database	
  of	
  key	
  events,	
  
bloggers	
  and	
  media	
  you	
  need	
  to	
  reach	
  
	
  



             	
            	
             	
            	
            	
  	
  
5	
  things	
  to	
  know	
  about	
  Social	
  Media	
  &	
  Word-­‐of-­‐Mouth:	
  

1.  Social	
  Media	
  is	
  the	
  most	
  popular	
  consumer	
  ac1vity	
  
    according	
  to	
  Nielsen.	
  
2.  SM	
  allows	
  you	
  to	
  connect,	
  engage	
  and	
  build	
  
    rela1onships	
  across	
  mediums.	
  
3.  It’s	
  LOW	
  COST	
  J	
  	
  
4.  A	
  great	
  way	
  to	
  get	
  ‘socially	
  endorsed’.	
  	
  	
  
5.  An	
  amazing	
  way	
  to	
  test	
  and	
  validate!	
  



Tip:	
  Visit	
  HubSpot	
  for	
  info	
  and	
  this	
  TechCrunch	
  ar1cle:	
  
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Boilerplate
Nathan Monk (‘Digital Cowboy’)
Sr. Associate, ICE Advisory Practice

Bio:

•  Focus on consumer ent. & ecommerce companies
•  Have a strong passion for entrepreneurship
•  ‘Lean Startup’ practitioner
•  Digital marketer, sales and BD professional
•  Experience: CBC, CanWest, OgilvyOne and Yahoo!

Follow me:

@Cowboytweets

Linkedin.com/in/nathanmonk

marsdd.com/blog/author/nmonk/feed/
Sales - Entrepreneurship 101

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Sales - Entrepreneurship 101

  • 1.
  • 2. Ilse     Be creative. Use unconventional thinking. Become strategic.
  • 3.
  • 4. Sales Skills Prospecting Asking Questions Finding Pain Uncovering Budget Gaining Commitment Personal Skills Goal Achieving Resilency Self-starter Reslts Oriented Self Management Job Skills Product or Industry Knowledge Sales Experience Market Knowledge Education
  • 5. Increasing Account Inside     Direct     Solu1on  Selling   Size Sales   Sales   And Importance Retail  /   Indirect  /   Online   Partners   Increasing Complexity of Transaction
  • 6. Let your Customer help you choose. Big is not always best for a startup. PARTNER MARKETING
  • 7. Prospects 10% Validated 25% Qualified 10% 1 in 10 chance of success at each Best Few 90% stage Won POST Start up is closer to 1 in 25
  • 8. Marke1ng  campaigns   Sales  Sheets   Presenta1ons   Reference  Story   Prospects 10% Solu1on  Sales  Sheets   Customized  Presenta1ons   Validated 25% Demo   Sponsor  LeAer   Custom  Value  Proposi1on   Qualified 10% Solu1on  Blue  Print   Proposal   Best Few 90% Specific  Pricing   Won Implementa1on   POST Billing   Customer  Management   Stable  Opera1ons  
  • 9. Social media is the new cold call. Thought leadership over social media channels creates a pull effect. Adds the “network effect” to your sales funnel.
  • 10.
  • 11. Stakeholder   Map   Economic  Buyers   User  Buyers   final  authority  to   use  or  supervise  the   release  the  funds     use  of  your  product   Technical  Buyers   Coaches   judge  and  rule  on  your   guide  you  in  the  sale   product s    specs   Create  WIN  WIN  with  each.   Determine  and  rank  degrees  of  influence  honestly.   Analyze  your  posi1on  with  each  honestly.  
  • 12. Partners   Licensors   Simplicity   Pilot   Reference   Revenue   Margin  
  • 13. For  every  10   You  may  get   To  generate   cold  calls   to  make  3   made   presenta1ons   1  sale   Note Startups have the 25-3-1 rule
  • 14. Good sales people face rejection every day and still smile!
  • 15.
  • 16. Be  clear  on  ..   •  what’s  in  it  for  them   •  mee1ng  purpose   •  your  value   proposi1on   •  1me  allotment   •  who’s  aAending   •  facili1es    
  • 17. ¨ Title ¨ Problem hook ¨ Problem explanation ¨ Customer impact ¨ Big idea insight ¨ Solution (value proposition) ¨ Underlying magic ¨ Team and credentials ¨ Partners and customers ¨ Summary
  • 18.
  • 19.
  • 20.
  • 21. 2  ears  &  1  mouth     Use  in  that  propor1on!  
  • 22. Nathan Monk (‘Digital Cowboy’) Sr. Associate, Info. Technology, Communications & Entertainment (ICE) Bio: • ICE advisory team member with focus on consumer ent. & ecommerce companies • Have a strong passion for entrepreneurship • ‘Lean Startup’ practitioner • Digital marketer, sales and BD professional • Experience: CBC, CanWest, OgilvyOne and Yahoo! Follow me: @Cowboytweets Linkedin.com/in/nathanmonk marsdd.com/blog/author/nmonk/feed/
  • 23. How  do  we  break  through  the  noise?  
  • 24. ‘Posi1oning  is  not  what  you  do  to  a  product.   Posi1oning  is  what  you  do  to  the  mind  of   the  prospect.  That  is,  you  posi1on  the   product  in  the  mind  of  the  prospect.’                    -­‐  Al  Ries,  Posi1oning
  • 25. 5  steps  to  start  ‘breaking  through  the  noise’:     1.  Understand  your  Product  (Unique  Selling  Prop.)  and  validate  it.   2.  Understand  your  Market  (Where  am  I  selling?)  and  validate  it.   3.  Understand  your  Target  (Who  am  I  selling  to?)  and  validate  it.   4.  Understand  your  Timing  (When  do  I  sell?)  and  validate  it.   5.  Understand  your  Tac;cs  (How  do  I  reach  them?)  and  validate  it.    
  • 26. Unique  Value  Proposi;on     ‘A  single,  clear  and  compelling  message  that  states  why  you   are  different  and  worth  buying.’            -­‐  Steve  Blank,  The  Four  Steps  to  the  Epiphany    
  • 27. Features   5  steps  to  developing  clear  and  compelling  features:   1.  Pick  the  ‘most  valuable’  features    (beware  of  feature  creep).   2.  Pick  what  makes  it  different  to  the  target.   3.  Pick  the  greatest  solu1on  to  the  problems  the  target  has.   4.  Build  a  ‘back  story’  (elements  which  make  it  magne1c).   5.  Validate,  validate  and  validate  with  your  targets!    
  • 28. ‘Your  objec;ve  is  to  find  a  big  enough  market  you  can   reach  with  customers  who  need  your  product  that  will   pay  a  price  you  can  build  a  business  around.’      -­‐  Ash  Maurya,  Running  Lean       5  steps  to  market  discovery:   1.  Find  greatest  customer  segment  with  the  biggest  pain.   2.  Ease  of  reach:  find  the  quickest  path  to  customers.   3.  Price:  pick  a  customer  segment  that  allows  you  to   maximize  on  price.   4.  Start  in  smaller  markets,  then  go  large.   5.  Validate,  validate  and  validate!  
  • 29. But  how  do  you  determine  you  have  the  correct  product/market  fit?   1.  When  40%  of  your  users  are  returning  month  over  month  (Running  Lean)   2.  When  you  pass  the  Sean  Ellis  test  by  asking  users:                                                                   How  would  you  feel  if  you  could  no  longer  use  the  (product):   •  Very  disappointed   •  Somewhat  disappointed   •  Not  disappointed  (it  isn’t  really  that  useful)   •  N/A  –  I  no  longer  use  (product)   •  *If  over  40%  of  users  are  very  disappointed  you’ve  got  the   right  market     3.  Get  paid.  
  • 30. 5  steps  to  define  your  Target:     1.  Find  the  greatest  customer  segment   with  the  biggest  pain.   2.  Ease  of  reach:  find  the  quickest  path  to   sustainable  customers.   3.  Price:  pick  a  customer  segment  that   allows  you  to  maximize  on  price.   4.  Start  in  smaller  markets,  then  go  large   5.  Validate,  validate  and  validate!            
  • 31. 5  deciding  factors  for  1ming  considera1on:     1.  Budget  and  tac1cs.   2.  Product  stage:  early  or  late  adopters?   3.  When  &  where  is  the  target  most  recep1ve?   4.  What  are  compe1tors  doing/have  done?   5.  Is  there  any  event  you  can  1e  your  marke1ng   message  around?                
  • 32. Tac1cs  for  your  considera1on  and  ‘budget’:     1.  Online:  display,  SEM,  SEO  &  video   2.  Mobile:  (tablet  and  smart  phone)   3.  eMail   4.  Print   5.  OOO   6.  TV   7.  Events  &PR:  release,  blogs  &  community  outreach   8.  Word-­‐of-­‐Mouth  and  Social  Media    
  • 33. Before  you  start  marke1ng/selling:     1.  Check  out  IAB  Canada:  iabcanada.com.     2.  Sign  up  for  eMarketer  &  mMarketer.   3.  Build  a  one  page  marke1ng  plan  with  tac1cs.   4.  Define  your  metrics  (See  Pirate  Metrics  for  StartUps.)   5.  Check  out  marke1ng  op1miza1on  sonware  (e.g:   gShin  Labs  &  Highrise)  to  see  what  works  best.   6.  Contact  ad  networks  for  low  cost  inventory.   7.  Read:  StartUp  Marke1ng  Blog  by  Sean  Ellis  .   8.  Read:  Posi1oning  by  Al  Ries  and  Running  Lean.    
  • 34. 5  things  to  know  about  Online:  Display,  SEM  and  Video   1.  It  can  be  very  cost  effec1ve  and  highly  targeted:  loca1on,  1me  of  day  etc.   2.  It’s  priced  CPM  or  CPC  (CPM  =  brand  awareness)  &  CPC  (CPC=direct  sale.)     3.  You  can  have  ad  units  built  easily  on  Elance.com,  Dribbble  or  independents.   4.  You  can  find  sites  which  meet  your  target  criteria  on  Alexa.com.   5.   See  examples  of  ad  units  at:  IAB.net/guidelines…look  for  UAP  example.s     Tip:  For  SEM  marke1ng  check  out  Google  Adver1sing  programs    
  • 35. 5  things  to  know  about  Mobile  adver1sing:   1.  It’s  underu1lized,  can  be  cost  effec1ve  and  highly  targeted  (higher  CTR).   2.  You  can  reach  folks  on-­‐the-­‐go  in  a  very  personal  environment.   3.  You  can  reach  folks  across  different  devices:  BB,  iPhone,  Android  etc.   4.  Easier  to  form  partnerships  with  mobile  app  developers  to  use  inventory.   5.  Need  to  have  a  mobile  strategy  including  mobile  op1mized  site  (min),  app   or  site  across  smartphone  and  tablets  (max.).     Tip:  Checkout  AdMob.com  for  more  informa1on.  Many  CDN  publishers  have   mobile  ad  opportuni1es  as  well.        
  • 36. 5  things  to  know  about  eMail  marke1ng:   1.  A  great  way  to  reach  new  users.   2.  A  great  way  to  engage  exis1ng  users.   3.  An  exact  ROI  can  be  tracked  from  eMail.   4.  A  great  way  to  obtain  feedback  and  test.   5.  A  way  to  promote  across  proper1es  (site,   facebook,  twiAer  and  blog).     Tip:  Check  out  MailChimp.com  for  more   informa1on.      
  • 37. 5  things  to  know  about  Print,  OOO  &  TV:   1.  Can  be  more  expensive  then  other  media.   2.  Can  reach  a  far  greater  amount  of  folks.   3.  Can  be  costly  to  produce.   4.  Can  not  be  tracked  as  easily.   5.  Strong  brand  awareness  due  to  reach.   Tip:  Visit  the  Canadian  Marke1ng  Associa1on  for   more  informa1on  on  using  tradi1onal  media.      
  • 38. 5  things  to  know  about  Events  and  PR:   1.  Low-­‐cost  &  high  impact  mediums  for  startups.   2.  Can  be  highly  targeted  and  effec1ve.   3.  Allows  you  to  build  rela1onships  with  media.   4.  Can  be  tracked  via  metrics.   5.  Creates  awareness  and  provides  credibility.   Tip:  Build  a  PR  and  events  database  of  key  events,   bloggers  and  media  you  need  to  reach                
  • 39. 5  things  to  know  about  Social  Media  &  Word-­‐of-­‐Mouth:   1.  Social  Media  is  the  most  popular  consumer  ac1vity   according  to  Nielsen.   2.  SM  allows  you  to  connect,  engage  and  build   rela1onships  across  mediums.   3.  It’s  LOW  COST  J     4.  A  great  way  to  get  ‘socially  endorsed’.       5.  An  amazing  way  to  test  and  validate!   Tip:  Visit  HubSpot  for  info  and  this  TechCrunch  ar1cle:   ‘Social  Proof  is  The  New  Marke1ng’            
  • 40. Last updated: <ACME COMPANY> Prepared by: Launch date: Audience Industry Investors Description Objectives 1 2 3 4 5 Location Global North America Flights MaRS Commons Key Media Tactics Video Social Media PR Events Partners Media Buy Print TV OOO Blog eMail Key Messages 1 2 3 4 Boilerplate
  • 41. Nathan Monk (‘Digital Cowboy’) Sr. Associate, ICE Advisory Practice Bio: •  Focus on consumer ent. & ecommerce companies •  Have a strong passion for entrepreneurship •  ‘Lean Startup’ practitioner •  Digital marketer, sales and BD professional •  Experience: CBC, CanWest, OgilvyOne and Yahoo! Follow me: @Cowboytweets Linkedin.com/in/nathanmonk marsdd.com/blog/author/nmonk/feed/