As a startup founder or CEO, you need to run a lean operation which can get the promised growth fast. You have secured your round of funding; you want to get out there and make the most of the plans that you have outlined and secured an approval. But, we have also seen how yesteryear unicorns are going through markdowns or downrounds.
You want to make sure that your marketing is geared for delivering the growth, develops and executes programs which run fast and have the most impact.
Find below the ways by which you can keep your marketing team and programs, lean and efficient.
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Focus on core objective – conversions
There could be multiple goals floating around: Generate traffic, generate leads, convert to prospects and then sales or convert a ready list into sales – whatever is the objective, you need to focus on the One Thing, which generates the most impact in your business. Your One Thing is led by your commitments to the investor team in your last review meeting or funding round. If it is traffic generation then focus on getting the maximum number of people coming to the site or place. If it is Gross Merchandise Value then with traffic you need fast conversions, and hence, marketing efforts will focus on conversions and promotions.
A big hairy goal can then be made byte sized for actions. How?
Break the mountain into pieces
Start with a goal drill down into monthly goals.
Based on the Focus, which you have decided, break the overall target into monthly goals. Then, convert them into weekly deliverables. These should be on your screen or in front of you every time. This Focus, also, makes sure that teams are not working on various nice-to-have items. One team is working on one goal.
Now, break down the weekly deliverables into daily tasks.
Checklist your way to success. Checklists are the number one difference between a highly efficient and inefficient operation. A pilot in any airline swears by his checklist and hence has a higher success ratio.Checklists are the number one difference between a highly efficient and inefficient operation Click To Tweet
A Checklist also helps in guiding your focus to the things which have the maximum impact.
Focus on the One thing TODAY
What will make the maximum impact on the business today, then tomorrow and day after?
Based on your cascade from Core objective to monthly goals to weekly deliverables, every day you need to prioritize those things which will generate the maximum impact. Again, the power of the few gets amplified when you work on the most impactful item now. When you meet any of your team members, ask them, what is the most impactful thing, you are working on today? Be ready with your answer for what is the most impactful for you too? Ideally, what is most impactful for you should be the same as the marketing person, the only difference would be the actions you are taking.
Once we are clear about what we want to do, then we can use the right media to amplify the message.
You must be already on social media, however, have you prioritized it? I sincerely hope that you are not present in all the channels because you need to create buzz. The first decision of which social media you need to be must be decided by where your audience is.Your customer profile decides which social media you need to focus your marketing on Click To Tweet
Once you zero onto the one medium or max two media, you need to tailor the content and programs depending on the medium. The campaigns you would do LinkedIn would be vastly different from the ones done on Instagram.
Ask your team to follow some of the big social media mavens out there who have tons of content on how to boost your social media efforts.
Keeping your social media efforts focused on one or max two will go a long way in keeping your team lean and your programs impactful.
This focus will help you in testing which messages work best in which media.
What are you testing today?
Treat every campaign ideas as a test and compare two different campaigns.
We have all heard about A/B testing.
However what lies at the heart of this is the testing mindset. By daily setting up tests, over three months’ time, your team will have enough data not only on the customers’ habits and preferences but also on which marketing programs work and why. Testing also removes the emotional attachment to “pet projects” and trust me everyone in marketing has a pet project.
Help the team develop a testing mindset
With the data you have, you can allocate more funds to the programs which are delivering your objectives at the best cost-benefit equation.
Testing also brings excitement in marketing and the learning improves helping them get better every day at what they are doing. It is just like your product team which is testing every day and churning out “beta” ideas.Do your marketing in permanent Beta mode Click To Tweet
This testing will lead to a calendar of activities.
Calendar for Marketing Programs
While it is exciting to try many programs and ideas, it can quickly become a distraction and sap energies. A calendar should guide the list of programs. Just like big blogs and social media have editorial calendars, the marketing effort needs to have a marketing calendar where every program in the month should lead to the monthly goal. The monthly goal decided the content and nature of the online and offline campaign you have. I would strongly recommend THINK DIGITAL FIRST. How does your campaign weave into our target customer’s online life? The monthly goal decides the content of the tweets, Facebook posts, LinkedIn stories and the Instagram posts that you do.
Once you decided on the what and the tone of the content, the next step is sequencing the messages. Having a calendar of online activities creates buzz but more importantly, drives traffic to the call to action that your campaign is directing the target customer towards.
You have a Call to action in every campaign, right?Don’t create campaigns only for entertainment – create for conversions Click To Tweet
With CTA embedded in every campaign, over time, you will develop insights and learnings into the effectiveness of your campaigns.
Make the team read a marketing best practice or a social media blog every day and note down the action points.
As a startup, you are not wedded to any brand manual or global marketing program which large companies have. But, you also miss out on the learnings and best practices these companies have. You level the field by having a learning hour for you and your marketing team every day. Ideally two hours. Listen to podcasts when driving, take notes on your voice recorder. Read the biggest influencers in your space and social media.
Most importantly, develop testing ideas from your notes and learnings. If you can learn and test 10 new ideas for marketing, every day, imagine what it would do to your marketing capability by the end of the year? You would have tested more than 3000 marketing ideas. Talk about the compounding effect.
This testing and a ready bank of ideas will make sure you will operate at a speed which will blow your competition away.
Make Speed Your Strongest Weapon
Action over Anticipation. Be Agile.
As a Startup, your lean structure helps you in taking decisions faster. If you are clear about the One thing which is going to drive your business for this year, this week and today, and you have a calendar for your online activities ready, then, there should be no reason why you should churn out your programs at a rapid pace.
To deliver the pace, Make sure that you are hiring the right people. Once you have cultivated the testing mindset, you can roll out the programs in beta mode, get results and if it is working, increase it to scale.
Scale should also include feedback from your customers on what is working and what is not. You don’t need elaborate research for this. Have built-in feedback systems inside your campaign. Call a sample of customers every week and test your assumptions. Ask them what is working, what is not working?
This feedback will not only increase the pace of your campaigns and positive results, but it will also, make you nimble in your fight against the giants.
Be the David in the vs. Goliath game
Move with speed and in fail fast mode. Know your strengths
Malcolm Gladwell points out some interesting aspects in his book David vs. Goliath. David wins more times than Goliath. The trick? Find your unique niche and play by your rules. While Goliath had a sword (good for close range combat where size and strength would help), David had a slingshot (the shepherd’s tools). He also ran towards Goliath probably unsettling him with this offensive. The slingshot helped him to aim from distance, fire and keep moving.
Find what makes you best and do it faster and harder.Don’t aim for the best marketing. Aim for faster marketing. Click To Tweet
Get your solutions faster to the customer. Get the feedback faster. Learn and adapt faster.
Use your nimbleness and agility to your advantage. While the big guys will take weeks if not months to turn around campaigns, you turn around campaigns in days.
Use the testing mindset to test various ideas and then make them work harder and faster.
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