entrepreneuria l marketing
DESCRIPTION
Slides on the basics of entrepreneurial marketing. How it differs from conventional marketing and what you need to do to apply it in your own businessTRANSCRIPT
Entrepreneurial MarketingDr Alan Rae – Chairman Fletching GlasshousesFletching Glasshouses
@alanrae
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2012
3 things that trip up g p paccidental marketers
• Not being strategicNot being strategic
• Not talking to people collaboratively
• Not creating a good story and telling it ft h i th i ht loften enough in the right places
Copyright Dr Alan Rae2013
Sun Tzu says in The art of WarSun Tzu says in The art of WarKnow yourself
Know your enemyKnow the terrain in which youKnow the terrain in which you
will engageg gTo which I would addK tKnow your customers
Copyright Dr Alan Rae2012
Know the terrain
Copyright Dr Alan Rae2013
Market Structure –which world are you in?which world are you in?
Markets end up with a
The Monkey’s World
Markets end up with a Gorilla, 2 or 3 Chimps and lots of monkeys.
The Gorilla’s World
e o ey s o d
Entrepreneurial Marketing
• Supply chain heads dictate the terms
The Gorilla s World
Corporate Marketing
• Supply chain heads dictate the terms• E-procurement cuts costs • You have to dance to their tune• Progressively the hurdles get higher
• Collaboration to build an offer• Being known for what you do is critical
Having a clear story• Progressively the hurdles get higher and the money gets less
• Firms go out of business• The industry consolidates
Having a clear storyBeing able to DeliverDoing what you sayGetting back quicklyThe industry consolidates Getting back quickly
• Gets the results you want Copyright Dr Alan Rae 2013
Be SpecificBe Specific
• Clarity is everythingClarity is everything
• You need to target a niche you can dominate that recognises itselfg
It h t b bi h t t• It has to be big enough to support you
Copyright Dr Alan Rae2013
What it’s notWhat it’s not
• Airy notions that going after 0.5% of a massive market will make us rich.
Copyright Dr Alan Rae2013
Why this is important• Diffuse messages don’t sell
Why this is importantuse essages do se
• If you address “Trainers, Coaches, Entrepreneurs and Business People” p pthey’ll all thing this isn’t really for me
• Targeting Blind people going to University is better than getting 1% of all the visually impaired people in the UKimpaired people in the UK
Copyright Dr Alan Rae2013
The outcome
Y d h hi
The outcome
• You need a group that wants something you can offer and where you can defend y yand maintain the relationships you have built.built.
• We have become the most reliable grower of organic salad leaves within 15 miles of gBrighton.
Copyright Dr Alan Rae2013
Business is interactive.The entrepreneur
• Develops products by interacting withDevelops products by interacting with customersW k i ti i t ti t• Works in a continuous interactive way to develop its markets and customers.
• Starts with its own ideas and sees who wants to buy themwants to buy them
• Follows the moneyCopyright Dr Alan Rae
2013
How do we develop pstrategic offerings?
• Rapid Prototyping. 1. Talk to the customers– Cheap quick,
agile, gets results.2. Establish what they
need– It’s collaborative.– Relational rather
3. Work out how to give it to them withoutRelational rather
than transactional.Learning rather
it to them without going bust
4 Do it– Learning rather than exploiting.
4. Do it
Copyright Dr Alan Rae2013
The traditional approach
Research the Business Landscape and segment itChoose a promising market segmentp g gDevelop with the aid of focused research a product set that meets its needsLogically set up distribution channels and develop an appropriate marketing mix
Copyright Dr Alan Rae2013
The three laws of entrepreneurial marketing
• Only sell things that people want to buyOnly sell things that people want to buy
• If it’s going to fly it will do so pretty quickly
• Build a model that lets you get some cash b k i htback right away
Copyright Dr Alan Rae2013
You need to build a gang to delivergang to deliver
Suppliers, Couriers, Advocates Designers etcAdvocates, Designers etc
Copyright Dr Alan Rae2013
What it’s notWhat it’s not
• Random chatting about Blue Skies topicsRandom chatting about Blue Skies topics
• Market research and development can be informal but it needs structure
S d t ll ti b ildi d lli• So does constellation building and selling
Copyright Dr Alan Rae2013
Collaboration is important because
• Intrusion marketing and one wayIntrusion marketing and one way messages don’t work any more.
• You do it right by being structured and g y gsystematic. Give me your email address afterwards and I’ll give you access toafterwards and I ll give you access to some free tools that may help you.
Copyright Dr Alan Rae2013
You need a strong story to connectstory to connect
Try to compare your needs and values withneeds and values with those of the client
This can give aThis can give a framework in which we can develop compelling narratives.
This is all about values and how people think
Copyright Dr Alan Rae 2010
Create the scenery yfor the play
1.What’s your storyf f2.Tell it face to face
3 Tell it in writing3.Tell it in writing4 Tell it on line4.Tell it on line
How many leads do you need andHow many leads do you need – and how good are you at closing them?
Copyright Dr Alan Rae2005-13
They want social proof y pthat
• You know your stuffYou know your stuff
• You deliver what you say
• You’re likeable or at least easy to work ithwith
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
Your online toolkit for building scenery.
You can create structures like thisto get noticed by influencers
Copyright Dr Alan Rae2013
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
Find your Influencers Linked in /Twitter / ConferencesLinked in /Twitter / Conferences
• Linked in is well used by corporates• Linked-in is well used by corporates– Who knows whom – Who you know that knows them– Who discusses what in industry groupsy g p– You can demonstrate thought leadership via
groups & profile blog entries and slidesharegroups & profile blog entries and slideshare• Twitter tells you who’s talking• Conferences let you meet them - informally
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2013
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
Don’t over do itDon’t over do it
I ’ b b ildi h bi ll• It’s not about building the biggest wall
• If you don’t create a clear story that makes th l h l t tthe people you can help want to engage with you it’s very hard to succeed.
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
How can wehelp you ?
1 Gi il d I’ll d li k1. Give me your email and I’ll send you a link to some useful tools including this slide set gcontact me at [email protected]
2 Sign up for a 1 2 1 The first hour is free2. Sign up for a 1 2 1. The first hour is free, the second is £25. There are slots today as
t f th B th B i Ppart of the Be the Business Programme or sign up here http://bethebusiness.org/business-review-clinic/
3. Consider the following action list
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2007
Marketing to do listg• List 50 people you need to meet and how
– They can find you– You can get introduced to them– You can collide with themYou can collide with them– Customers, suppliers, partners
• Use social media to create the sceneryUse social media to create the scenery – this book tells you how
– join linkedIn - Build profile - join groups - contribute– Build Collateral library - 7 things – books – white papers etc
Create a form for people to sign p for these so o can email them– Create a form for people to sign up for these so you can email them– Build Social media profiles– Connect it together – so when people check you out they find your stuff
Our Business is Making Your Business Grow
Copyright Dr Alan Rae2009
– Check out www.howtodobusiness.com for more free materials– .