Marketing strategy

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According to data, 95% of startups fail. That's a staggering number. As an entrepreneur, our most valuable asset is time and resources. For those navigating the challenges of a startup environment, the primary objective is to accomplish more with less—to drive value and growth despite limited manpower, modest budgets, and scarce resources. Startups inherently have an element of chaos, yet within this chaos, only a handful of actions at any given time can have a significant impact. That's where the Lean Startup Marketing Formula approach comes in. It's less risky, directing your attention to the right actions at the right time while emphasizing rapid experimentation, solving problems that truly matter to customers, and minimizing waste.

Let's look into the Lean Startup approach, its significance compared to the traditional approach, the core marketing principles, the role of a Minimum Viable Brand (MVB), the process of integrating these principles into your marketing campaign, the essential tools and technologies for its implementation, and the potential challenges to address.

What Is A Lean Startup Approach?


The Lean Startup approach can be distilled as follows: Imagine you’re constructing a boat while already navigating treacherous waters. It’s like embarking on a journey with a makeshift raft with the goal of evolving it into a seaworthy ship that can carry you to your destination. In essence, it’s a structured methodology. It’s all about maintaining business agility, prioritizing swift execution, and fundamentally streamlining operations to make them more cost-effective and efficient.

Why A Lean Startup Approach vs. A Traditional Approach?


The Lean Startup method takes the principles of agile project management and extends them to every facet of your business. Notably, Lean Startups often reach the market much faster. Unlike the conventional startup approach, which might spend years attempting to attain perfection and make a grand debut, the Lean Startup thrives on a “build, release, learn, and adapt” philosophy. In essence, it can be boiled down to three essential actions: test, analyze, and decide, which are continually repeated from day one. This approach dramatically reduces the time, effort, expenditure, and resources required before obtaining valuable market feedback. Ultimately, it shifts the focus from perfecting a strategy to swiftly learning from the market, a pivotal aspect for many startups.

The Core Marketing Principles Of The Lean Startup Approach


The core marketing principles of the Lean Startup approach include:

  • Entrepreneurship: Lean startups are driven by individuals who are self-starters and free thinkers. They take the initiative to explore new ideas and markets without waiting for approvals or check-ins. This principle emphasizes the need for an entrepreneurial spirit across the organization, not just in marketing.
  • Scientific Testing Approach: Testing is a fundamental aspect of the Lean Startup methodology. It involves a cycle of testing, analyzing the results, making decisions based on the data, and either iterating, adjusting, or eliminating strategies. This data-driven approach ensures that resources are allocated efficiently.
  • Efficiency: Efficiency is a core principle across the entire organization. Lean startups constantly seek ways to operate more efficiently, reducing waste and maximizing productivity. This principle is not exclusive to marketing but applies company-wide.
  • Branding: Building a strong brand is essential for a Lean Startup. A solid brand helps in creating long-term loyalty and sustainable success. Effective branding can set a startup apart from the competition and attract a loyal customer base.
  • Speed: Speed is crucial in the Lean Startup approach. Getting products and strategies to market quickly allows startups to gather feedback and make necessary adjustments swiftly. Speed is a competitive advantage in today's fast-paced business environment.

These principles collectively contribute to the Lean Startup's success in developing innovative products, scaling efficiently, and responding rapidly to market feedback. They are not limited to marketing alone but guide a Lean Startup's overall approach and mindset.

What Is A Minimum Viable Brand?


A Minimum Viable Brand is a fundamental and essential branding framework every business should establish when entering the market. While it may not encompass the full depth of a comprehensive brand strategy, it provides a foundation for a company to make a meaningful entry into the market and start generating revenue. The key components of a Minimum Viable Brand typically include:

  • Brand Strategy: This involves identifying and defining the fundamental aspects of the brand, such as brand archetypes (which represent the brand’s personality), promise, mission, and vision. The promise is what the brand offers to its customers, the mission is the reason behind what it does, and the vision outlines the long-term impact the brand aims to achieve.
  • Positioning: Creating a concise and formulaic paragraph that outlines the brand’s target audience, its intended impact, and how it fits into the market. This positioning statement helps clarify the brand’s unique selling proposition and differentiation from competitors.
  • Visual Branding: Emphasizing the importance of the visual elements of branding. Visual aspects include the logo, color scheme, typography, and overall design elements that communicate the brand’s identity and make a strong first impression. Visual branding is critical to creating brand recognition and attracting the target audience.

The idea behind a Minimum Viable Brand is to establish a foundational brand identity that allows the business to start marketing and generating revenue. While it may not be the final, comprehensive brand strategy, having these essential elements in place enables the company to differentiate itself from competitors and make a genuine market entry. The intent is to refine the brand strategy further as the business evolves. These initial branding components make it easier to market the business and succeed in the market authentically.

Integrating Core Principles Into A Marketing Campaign


A strategic approach is essential to effectively integrate core principles into a marketing campaign. Here’s a step-by-step guide on how to do this:

  1. Research Extensively: Initiate your marketing campaign by dedicating time to research. There’s nothing more crucial than understanding your target audience. Dive deep into market research, competitor analysis, and customer profiling. This foundational step forms the bedrock of your campaign.
  2. Prioritize Brand Development: Branding is a fundamental pillar of a Lean Startup approach. While you might move units without a robust brand, creating lasting customer loyalty and building a long-term presence in the market hinges on a solid brand foundation. Ensure that your marketing campaign actively contributes to brand identity, recognition, and trust, as it’s integral to achieving sustainable success.
  3. Build a Minimum Viable Product (MVP): Once you’ve gathered comprehensive insights from your research, start developing your minimum viable product (MVP). This might not just refer to the product or service but also to your marketing assets, such as landing pages, ad creatives, and messaging. Create a version that represents the core offering and aligns with the needs and preferences of your audience.
  4. Lightweight Marketing Strategies: Skip the traditional approach of crafting lengthy marketing strategies, especially if you’re a startup entering a new market. Instead, focus on keeping your marketing strategies lean and action-oriented. Concentrate on your action plan, which outlines the steps to connect with your target audience effectively. A one-page plan can keep your team aligned and focused on the essentials, improving the chances of successful execution.
  5. Leverage Industry Insights: Gain valuable knowledge from peers in related industries. Analyze your competitors thoroughly, diving into their target audience, distinguishing factors, messaging strategies, and the tactics they employ. By understanding their successes and shortcomings, you can make well-informed decisions to strengthen your position in the market.
  6. Quick Execution: Speed is of the essence, particularly for startups. Get your MVP and initial marketing campaigns out to your audience as quickly as possible. Don’t wait for perfection; aim for rapid iteration and improvements based on real-time feedback.
  7. Automation Tools: As your campaign progresses, consider incorporating marketing automation tools to streamline and expedite your processes. Email marketing platforms, social media scheduling tools, and analytics software can help you efficiently manage and optimize your marketing efforts.
  8. Focus on a Single Marketing Channel: Concentrate your initial efforts on a single marketing channel when your research indicates your target audience is most active. This allows you to achieve a strong presence and effectiveness in that specific channel rather than spreading your resources too thin.
  9. Implement a Strong Follow-Up System: A well-thought-out follow-up strategy is crucial. Use email sequences, retargeting ads, and personalized communication to maintain engagement with potential customers and nurture leads through the sales funnel.
  10. Quality MVP Development: Continually improve and refine your MVP based on customer feedback. Address pain points, iterate on your offering, and make it as appealing and useful as possible to your target audience.

Integrating these core principles into your marketing campaign can create a solid foundation for success. Remember that agility, adaptability, and a focus on delivering value to your audience are paramount in the ever-evolving world of marketing.

Tools & Technology For Implementing Lean Startup Approach


When implementing the Lean Startup approach, having the right tools and technology can significantly enhance efficiency and effectiveness. Here’s a selection of tech tools to consider:

  • HubSpot (CRM): HubSpot is a top choice for managing customer relationships and marketing efforts. It offers a feature-rich free platform with excellent functionality. It seamlessly integrates with a wide array of other tools, making it an ideal starting point for cost-effective and efficient communication and customer management. As your business grows, HubSpot scales with you, offering more advanced features for a higher price.
  • Klaviyo (Email & Text Marketing): Klaviyo is an excellent email and text marketing tool. It’s user-friendly and intuitive, making designing and executing email and text campaigns easy. Klaviyo is also known for its scalability and affordability, which is particularly valuable for startups looking to engage with their audience through personalized messaging.
  • Zapier (Integration & Automation): Zapier is a game-changer for businesses, allowing you to connect tools and apps that might not naturally integrate. It’s a valuable resource for creating automated workflows that save time and money. You can link various software solutions without the need for coding or technical expertise, making it cost-effective and highly efficient. Zapier is particularly valuable for streamlining processes and achieving seamless operations.
  • Advertising Platforms (Meta, Google, TikTok): Consider leveraging advertising platforms to generate awareness and attract new prospects. The choice of platform depends on your target audience. Meta (including Facebook and Instagram) and Google Ads are effective for a broad audience. If your target demographic is younger, such as the 16 to 27 age range, TikTok ads can be a powerful tool for reaching them. Effective advertising will help you get in front of new audiences while the rest of your tech stack focuses on nurturing, conversion, and building brand advocates.

These tools provide a foundation for nurturing and converting leads, automating processes, and efficiently managing customer relationships. They allow you to maximize your resources and maintain a Lean approach while rapidly growing your startup. Each tool can scale with you, so if you need additional functionality, these programs provide everything you need as you grow.

Addressing Challenges In Implementing The Lean Startup Approach


The Lean Startup approach in marketing presents a world of possibilities but comes with its unique set of challenges. Here are three ways to navigate these challenges effectively:

  • Maintain Laser Focus: One of the most critical elements in Lean Startup marketing is unwavering focus. When you discover a strategy or tactic that resonates with your audience and delivers results, resist the temptation to chase every new trend or marketing buzzword. Avoid pursuing every shiny object that catches your eye on YouTube or LinkedIn. Instead, focus your efforts on what’s proven to work. For instance, if you’re a product-based company targeting a younger audience, start with TikTok ads and build a comprehensive marketing strategy around that channel. Gather insights before diversifying. Dominating a single channel with a perfectly executed strategy can be all you need to reach seven figures in revenue.
  • Embrace Specialization: Specialization is key to success. Concentrate on serving a specific product to a well-defined audience through one or two effective marketing channels. Trying to be too broad in your approach dilutes your impact. Focus on solving a particular problem for your customers, and once you’ve mastered that, you can consider branching out. It’s about becoming exceptional at one thing before expanding your horizons.
  • Continuous Testing and Adaption: Lean Startup is all about agility. When you realize that your assumptions and strategies don’t align with customer feedback, don’t be afraid to pivot. Adapt and iterate your approach based on real-time insights. This flexibility is what sets Lean Startups apart from traditional methods. If something isn’t working as expected, it’s a signal to change course and refine your tactics until you achieve the desired results.
  • Managing Ego and Handling Failure: It’s easy to develop a strong attachment to strategies and campaigns and to feel crushed when one fails. The crucial skill here is to become self-aware and practice non-attachment. It’s important to remember that marketing is about solving problems for your customers and meeting their needs, not yours. When a campaign isn’t working as expected, the ability to set aside personal feelings and ego and say, “This isn’t about me; it’s about the customer,” is immensely valuable. Being open to cutting your losses.

The Lean Startup approach encourages a dynamic and iterative mindset. It’s about finding the right balance between focus and flexibility, staying attuned to customer feedback, and continually refining your strategies to align with your target audience’s needs and preferences.

In conclusion, the Lean Startup Marketing Formula approach is a game-changer in the ever-evolving world of marketing. It’s about doing more with less, staying agile, and focusing on what truly matters. With a strong foundation, a commitment to continuous learning, and the right tools, startups can navigate the challenges of the market effectively. Remember, it’s not about you; it’s about your customers and their needs. Stay agile, stay focused, and keep learning.

For more brand marketing insights, follow Cain Castor and Lisa Perry. For a step-by-step guide on developing a brand strategy, check out How to Develop a Brand Strategy by Lisa Perry.

This article was written by Lisa Perry and Cain Castor.

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The Lean Startup Marketing Formula

Beyond The Myth: Why Effective Branding Is Crucial For Business Success



In the ever-evolving business landscape, branding has been vital for long-term growth and success. While it is widely acknowledged that branding plays a crucial role in building recognition and reputation, there are instances where businesses have yet to experience initial success without extensive branding efforts.

This article delves into the notion that while branding may not always be a prerequisite for achieving initial success in certain scenarios, it becomes increasingly essential for sustained growth and establishing a strong foothold in the market. By exploring both sides of the argument, I aim to shed light on the nuanced relationship between branding and business success, highlighting the significance of branding in ensuring long-term prosperity and navigating the challenges of a competitive marketplace.

Let's look at a few reasons why branding is not an absolute necessity for success, but its absence may limit long-term growth potential:

Short-Term Success


Long term and short term concept

Some companies can experience initial success without a well-developed brand strategy, leveraging word-of-mouth, viral marketing, fleeting trends, or unique circumstances. However, it’s important to note that this overnight success type is often short-lived and lacks sustainability without effective branding. While initial buzz or popularity can bring attention to a business, branding efforts help establish a solid foundation for long-term success by differentiating the business and building a strong customer base.

I had the opportunity to assist a nutritional start-up that experienced rapid growth in the first two years, with 130,000 customers and two million bottles sold globally for its hangover prevention product. Unfortunately, the company faced a downturn when sales began to stagnate. I conducted comprehensive analyses to understand the underlying causes, encompassing competitive and market evaluation, consumer trend assessments, and data analytics. Upon examination, it became apparent that the company had disrupted the market with its innovative product and had established dominance in its category, garnering significant attention and success. However, as competition emerged, it faced a challenge as its competitors easily replicated its offerings due to a lack of unique differentiation. This lack of distinctiveness proved detrimental to the business. Furthermore, the company's unclear value proposition, inadequate positioning, and inconsistent messaging further contributed to customer confusion and ultimately led to a decline in sales.

The absence of a well-defined branding strategy underscored the need for its development to overcome the challenges faced by the company, highlighting the crucial role of effective branding in achieving sustained success.

Niche Markets


Niche market concept

Businesses operating in certain niche markets or local communities can experience thriving success without heavily investing in branding efforts. Personal relationships, referrals, and local reputation can play a significant role in generating business, reducing the immediate need for branding efforts. However, it is crucial to acknowledge that the absence of branding can hinder revenue generation, profitability, and the creation of long-term value when faced with competition. Without a strong brand, businesses may struggle to adapt to market changes, expand their operations, and attract investment opportunities essential for sustained growth and success.

A compelling example of this is my experience working in the cannabis industry. As competition in the market increased, larger corporations entered the scene, and more states legalized recreational cannabis, it became increasingly challenging for niche brands to remain competitive. The cannabis company I worked for strategically pursued mergers, acquisitions, and brand licensing deals as part of its business strategy. Once these smaller niche brands were acquired, it became apparent that some had lost their competitive edge. To address this, I conducted a comprehensive business and financial analysis, competitive analysis, market trend mining, and internal capabilities audit. This allowed us to develop a strategic brand portfolio architecture strategy by evaluating each brand’s strategic role and determining whether to divest, invest, harvest, or maintain the brand. Implementing this brand strategy increased revenue and profitability, ultimately leading to the company’s acquisition.

Although businesses can experience initial success in niche markets without extensive branding efforts, it is crucial to consider the long-term benefits and strategic advantages of effective branding. In an evolving and competitive landscape, businesses need to recognize the value of branding to thrive and sustain their growth.

Established Brand Reputation


Brands concept

In the ever-evolving business landscape, some companies have relied on their established reputation for years, only to face declining sales when market dynamics, industry trends, and consumer preferences shift. As market competition intensifies and the importance of ROI in marketing efforts grows, effective branding has become a necessity for organizations.

While traditional reputation and word-of-mouth may have sufficed in the past, businesses now require a strategic approach to branding to differentiate themselves, communicate their unique value proposition, and establish trust with diverse stakeholders. By investing in branding initiatives, companies can position themselves strategically, target specific customer segments, and gain a distinct competitive advantage.

A case in point is my experience working for a private, non-profit business school in the highly competitive higher education landscape. Struggling with declining enrollment, we conducted a comprehensive analysis, uncovering a lack of differentiation compared to competitors. Through deep engagement with students, alumni, and faculty, the school's strength in equipping students to become world leaders emerged. Armed with these insights, a repositioning strategy was executed, reviving the school's brand identity after 22 years and launching an impactful marketing campaign, "Best for the World Leaders." The results were remarkable, with the highest enrollment in 13 years and a notable 30% increase in awareness.

This success exemplifies the transformative impact of effective branding, showcasing how identifying a unique point of differentiation and leveraging it through repositioning strategies can drive significant outcomes. In a changing market, organizations must embrace branding as a powerful tool to differentiate themselves, attract customers, and achieve long-term success.

In conclusion, while there may be instances where businesses experience initial success without extensive branding efforts, it is crucial to recognize the long-term benefits and strategic advantages of effective branding. Branding plays a vital role in building recognition, reputation, and differentiation in a competitive market. It helps businesses adapt to changes, expand operations, attract investments, and sustain growth. As the business landscape continues to evolve, investing in branding is increasingly necessary to thrive and establish a strong foothold. Whether it is developing a unique value proposition, cultivating customer relationships, or differentiating from competitors, branding is an essential component for long-term success in today's dynamic marketplace.

For a step-by-step guide on how to develop a brand strategy, check out How To Develop a Brand Strategy by Lisa Perry. For more brand marketing insights, follow Lisa Perry.

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Beyond The Myth: Why Effective Branding Is …

Space Marketing: It’s Time To Plan Your Brand’s Future



Do you remember your first space experience? I had many growing up. My first was seeing the Star Wars movie. It was a pop-culture juggernaut. We stood in line for hours, around the block just to buy tickets. People camped out, dressed up in Star Wars costumes, skipped school, and sat in the movie aisles just to see the Star Wars movie. Seeing the adventure of outer space with these amazing characters and creatures was awesome. Second, my dad was a ‘Trekkie.’ I spent many evenings hanging out watching Star Trek TV shows with him. It was a fond memory I have of time spent with my dad, enjoying one of our favorite shows that changed popular culture. And last, was an emotional time when I was in school, watching the Challenger space shuttle go up in space with all of my classmates, only to see it explode shortly after launch from Cape Canaveral back in January 1986. We were stunned realizing that the lives of seven astronauts had just died before our eyes. It was a very emotional time.

Recent years have seen a shift in what people want to consume. Younger generations are valuing trips, experiences, and exploration over physical objects. People are willing to pay for a lifestyle over materialistic objects.

Companies have an opportunity to tap into space experiences, reimagining themselves outside earth. Let’s take a look at a few companies that have successfully used space marketing tactics and four things you can start doing now to plan for your brand’s future in space.

Serum In Space


Estee Lauder contracted with NASA to take 10 bottles of its Advanced Night Repair skin serum to the International Space Station (ISS). NASA astronauts captured imagery and video of the product for social media with one bottle auctioned off for charity. The campaign cost Estee Lauder $128,000 (less than a big Influencer campaign).

Retail Lift Off


Under Armour and Virgin Galactic partnered to create a new generation of space apparel and footwear, as well as an astronaut performance training program. The 10-piece limited-edition collection features garments proven in space and designed for comfort and functionality. Both companies share an obsession with innovation and making the impossible possible.

Zero-G Experience


Mars Wrigley released a limited-edition Zero-G pack of Skittles, guaranteed to float while in space. The new Zero-G pack featured “intergalactic, aluminum packaging” and contained only blue and purple candies. Partnering with Jeff Bezos and the first human flight of his Blue Origin New Shepard spacecraft, he threw Skittles at his fellow passengers in a game of zero-gravity catch. Skittles also gave away a Zero-G experience for two from Zero Gravity Corporation, along with a bag of limited–edition Zero-G Skittles. Another 99 winners were also selected to receive limited edition “Zero-G” Skittle packs.

Launching Seltzer Into Space


The expert in brewing beer, Miller Genuine Draft, strapped a competitor’s seltzer to a rocket, hurling it into space. Fans could suggest which hard seltzers deserved the ride. Over 1 million people tuned in to see the launch (albeit it was via CGI) go up in flames.

Mission PGTide


Tide to Go is off to outer space, partnering with NASA to keep astronauts' spacesuits fresh. Procter & Gamble and NASA scientists have created a fully degradable detergent that will clean clothes without wasting water. Over the next decade, they’ll be testing fabric care products, including Tide to Go pens and wipes, at the International Space Station (ISS) and on missions to the moon and Mars. This partnership could have larger implications for Earthbound consumers. Source

Marketing In Space


Let’s take a look at four ways you can start to engage your target audience as you start to reimagine your brand outside of earth.

  • Partnerships: Companies are increasingly looking beyond the atmospheric horizon as a place of business to touch their core markets and engage their audiences with brand partnerships. NASA has been looking to partner with corporations through licensing, product placement, content, and sponsorships. For example, astronauts wearing or using your products, shooting a commercial, video, or a movie in space, spacecraft naming rights, digital brand live feeds from space, the opportunities are endless.
  • Advertise: There are two types of advertising in space: obtrusive and non-obtrusive. Obtrusive space advertising is ads in space that can be recognized (i.e. skywriting) by people without supporting devices such as a telescope or binoculars. Non-obtrusive space advertising is ads that include logos on space suits, satellites, and rockets. Just think, what if you stamped your logo on the surface of the moon or placed a brand flag on the moon? Or consider this, instead of a blimp, offer a satellite from space that beams your live event during a major event (i.e. Olympics, World Cup).
  • Commercial Research & Development: Over 50 companies are conducting commercial research and development on the space station via the International Space Station U.S. National Laboratory. In addition, NASA has worked with 10 different companies to install more than 14 commercial facilities on the station that support research and development projects for NASA and the ISS National Lab. Source Research projects include drug development that can lead to breakthroughs in curing disease, crop science breakthroughs that can lead to ways to feed the growing world population with less land and water, 3D metal printing, and much more.
  • Commercial Manufacturing & Production: A new NASA directive enables commercial manufacturing and production, allowing both NASA and private astronauts to conduct new commercial activities aboard the orbiting laboratory. The directive also sets prices for industry use of U.S. government resources on the space station for commercial and marketing activities. Last September, 14 companies were awarded millions to develop new technologies from cryogenic production, to developing sustainable energy generators, or building affordable propulsion systems for small spacecraft. Source

Space marketing is the next big thing in marketing right now. However, as you evaluate space marketing for your brand, be sure that it reinforces your brand values and brand promise. Start building your brand leadership today. You’ve got this!

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Space Marketing: It’s Time To Plan Your …