ENTR/BUAD : Entrepreneurial Marketing. Week 6B: Traction Theory & the Nineteen Channels

Transcription

1 ENTR/BUAD : Entrepreneurial Marketing Week 1: Entrepreneurial Laptops and Marketing, Phones Away the Please Ultimate Challenge Week 6B: Traction Theory & the Nineteen Channels

2 What is traction?

3 Building something people want is certainly required for traction, but it isn t enough. Gabriel Weinberg

4 Traction: quantitative evidence of customer demand.

5 The most common startup traction mistake? Only doing what you know.

6 If you can acquire customers in a channel your competitors are ignoring, that s a huge competitive advantage. Jason Cohen WP Engine

7 19 Channels: Blogs Publicity Unconventional PR Search Engine Marketing Social and Display Ads Offline Ads SEO Content Marketing Marketing Engineering as Marketing Engineering as Marketing Viral Marketing Business Development Sales Affiliate Programs Existing Platforms Trade Shows Offline Events Speaking Community Building

8 Targeting Blogs Different from writing your own blog, this is targeting blogs that have audiences close to yours and engaging with them.

9 Publicity Getting coverage from traditional press outlets

10 Unconventional PR Getting coverage from traditional and non-traditional press outlets, through something unique, impressive, or unexpected.

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12 Search Engine Marketing Paying search engines like Google to show your ads on search engine results pages.

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14 Social and Display Ads Paying Google, Amazon, Facebook etc. to show your ads. Banner ads and social ads are here.

15 Offline Ads Billboards, bus stations, fliers, business cards, magazines, newspapers, etc.

16 SEO Search Engine Optimization. Ranking your site well for the important keyword searches that will drive traffic to your site without an ad investment.

17 Content Marketing Creating your own content, be it a blog, podcast, social media (in depth), videos, or anything else that tells a story.

18 Marketing Marketing efforts in your audiences inboxes. Automation series, broadcast s, and transactional s.

19 Engineering as Marketing Marketing efforts that must be built first.

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21 Viral Marketing Systemic word-of-mouth. Moving the viral coefficient closer to 1 or more.

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23 Business Development Partnering with other businesses to bring in or share customers.

24 Existing Platforms Integrations or partnerships with platforms. E.g. Craigslist, Facebook, UD systems.

25 Sales Person-to-person sales efforts.

26 Affiliate Programs Sales at scale, with tradeoffs.

27 Offline Events Hosting your own, going as an attendee, meetups, networking, etc.

28 Trade Shows Specifically targeting large industry events.

29 Speaking Speaking at events, online workshops, or otherwise. Building a reputation as an expert.

30 Community Building Cultivating a community, with or without a platform true fans.

31 What is the bullseye framework described in the book?

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33 1. Brainstorm

34 The outer ring is meant to help you systematically counteract your biases.

35 DISCUSS IN YOUR GROUP:

36 19 Channels: Blogs Publicity Unconventional PR Search Engine Marketing Social and Display Ads Offline Ads SEO Content Marketing Marketing Engineering as Marketing Engineering as Marketing Viral Marketing Business Development Sales Affiliate Programs Existing Platforms Trade Shows Offline Events Speaking Community Building

37 2. Rank

38 3. Prioritize

39 Why three?

40 4. Test

41 When testing, you are not trying to get a lot of traction with a channel just yet. Instead, you are simply trying to determine if it s a channel that could work for you.

42 You only should focus on one channel at a time.

43 DISCUSS IN YOUR GROUP: 1. Brainstorm ideas for each traction channel. 2. Rank each idea/traction channel. 3. Pick the top three.

44 This week s assignments: Read Traction, chapter 11.