Transcript Marketing`s Responsibilities

Colorado Startup Incubator (CSI)
& Dr. Luka Powanga @ Regis University
July 16, 2014 – Marketing Responsibilities
Errol Forkner, Chief Entrepreneurship and Intra-Preneurship Consultant
Copyright 2014 Prism Business Development & Colorado Startup Incubator
Agenda Meetup Topics
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Introductions – Name, Company, Role, and Stage
Expectations – Reason For Coming & Prism Reason for Hosting
Marketing’s Responsibilities
Questions & Answers
Next Steps
Resources - Prism Business Development & Affiliates:
a)
b)
c)
d)
Coaching
Mentoring
Training
Monthly One-On-Ones
Introductions
• Name
• Company
• Role
• Startup Stage
Expectations
• Reason for coming
Think about as we go through presentation
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Curious
Need a Process / Track to Run On
Want a Coach, Mentor, Workshop
Need a Team
Have an Immediate Marketing Need
Want Colorado Startup Incubator Support
Expectations
• Reason for Hosting
Think about as we go through presentation where best value
• CSI Memberships - $100 per month
• Monthly Reviews & Guidance - Includes 1 Hr One-On-Ones
• Cross Functional Advisory, Coaching & Mentoring Services
Use of Credentials & Resume & Sliding Scale
• Training Sessions & Workshops
• Task Execution
• Staff Augmentation – Use of Credentials & Resume
Role
• Entrepreneur
• Chief Technology Officer (CTO) – Idea Person
• Chief Executive Officer / President (CEO / President)
• Chief Marketing Officer (CMO)
• Other: _____________________________________________
Where entrepreneurs lump Marketing & Sales together, otherwise
we would add:
• Chief Sales Officer (CSO)
Startup Stage
The Six Financing Stages
Startup Stage
The Six Financing Stages
Startup Stage
The Six Financing Stages
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5.
6.
Seed Funding
Start-up or Early stage
Growth (Series A round)
Second-Round for Working Capital
Expansion or Mezzanine
Exit of Venture Capitalist
Marketing’s Responsibilities
• Steps to bring high-customer value products to market
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Proof-Of-Concept
Company Identity / Branding
Go-To-Market Plan
Product Identity / Branding
Target Ideal Customers
Sales & Sales Support Model
Implementation & Maintenance Services Model
Value Analysis
Competitive Analysis
Marketing Responsibilities
• Bring High-Customer-Value Products to Market
• Provide Systems to Makes Sales & Capture Market Share
• Deliver Profitable Revenue Growth to Meet Strategic &
Operational Plans
Marketing Responsibilities
When Does Marketing Lead
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Prove New Idea / Innovation
Marketing & Product Development
Early Sales & Manufacturing
Selling but not yet turning a profit
Expansion money for Profitable Company
Going Public
Marketing Responsibilities
Can We Agree?
• What Inherit
• Mission, Vision & Direction
• Company Values
• What Needs to Be Done
• Innovate – MRD Conceptual Selling,
• Validate – Proof of Business/Concept includes Discovery/Conceptual Selling
• Orchestrate – Field Operations
• Target, Compensate, Facilitate
• Enable – Sales Model & Product Training (See Resources)
• Support
• Communicate… Promote to Targeted Customer Community
• Product ACH
• Company ACH
Selling Responsibilities
• Who Sales – Everyone
• Anyone trying to convince others of a better way
• CEO is Chief Evangelist
• CTO is Chief How Person
ACH
• Unknown
vs
• Awareness
• Consideration
• Hit / De-Facto Standard
Marketing’s Responsibilities
• Exit Strategy - Communication
• Company Values – Communicate
• Enable Sales
• Channel Engagement including Sales Process – Collateral & Contracts
• Product Training
• Promotion or Demand Creation - Drive business to sales doorstep
Product Training
Based on Specific Channel Sales Model
• Establish Need
• Establish Fit
• Overcome Funding Objection
• Overcome Timing Objection
• Overcome Attitude or Lack of Comfort Objection
• Value Financial Analysis
• Competitive Analysis
• Compensation
• Territory & Account Assignments
• Opportunity Planning
Proof-Of-Concept & Go-To-Market Plan
• IdeaProof-Of-Concept & Go-To-Market Plan
• Expect & Validate – Engage Early Adopter / Market Maker
1. What is my product? Features & Functions
2. Who is my customer? Beachhead Market when educated will have significant
operational improvement… Strategic Customer
3. What can I do for my customer? …
Why would my customer buy? Promised Business and/or Personal Benefits &
Value Proposition
• Strategic Customer Recommendations:
1. Refine Product Functional Specification
2. Refine Product Packaging, Pricing and How Acquired, Supported,
Implemented, and Maintained
Proof-Of-Concept & Go-To-Market Plan
• Strategic Customer Partnership
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2.
3.
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Purchase Order
Beta Test Site
Reference
Success Story
Investor
• Business Model -How do I make money from my product?
1. How do I build my product?
2. How do I scale my business?
3. Operational Plan including Financials
Questions & Answers
Next Steps
Resources
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Entrepreneurial Services
Business Services
Funding Services
Prism Professional Services – Early Stage & Later Stage Strategic and
Operational Marketing:
• Coaching
• Mentoring
• Advising
• Training
• Team Staffing
• Workshops
• Colorado Startup Incubator (CSI)
• CSI-Services
Expectations Met?
Contact Us
• Colorado Startup Incubator (CSI)
%Office Evolution
357 S. McCaslin Blvd., Suite 200
Louisville, CO 80027
www.ColoradoStartupIncubator.org/WordPress
[email protected]
[email protected]
• Prism Business Development
POB 270611
Louisville, CO 80027
www.PrismBusDev.com
[email protected]
[email protected]
Startup Stage
The Six Financing Stages
1.
2.
3.
4.
Seed Funding – Prove New Idea / Innovation
Start-up or Early stage – Marketing & Product Development
Growth (Series A round) - Early Sales & Manufacturing
Second-Round for Working Capital - Selling but not yet turning a
profit
5. Expansion or Mezzanine - Expansion money for Profitable
Company
6. Exit of Venture Capitalist – or Bridge Financing, 4th round is
intended for "going public" process