Quantcast
Channel: Points and Figures » William Mougayar
Viewing all articles
Browse latest Browse all 2

Hacking Growth, Hacking Marketing

0
0

A lot of startups think that they can just build a better mousetrap and customers will beat a path to their door.  It rarely happens that way.  Especially today, because a lot of innovation is iterative.

Image representing William Mougayar as depicte...

Image by William Mougayar via CrunchBase

William Mougayar curates a great site, Startup Management, for anyone to read.  Today he wrote an article on how to think about marketing products.

The universe of marketing is changing with the uncovering of big data and social to really micro target customers.  But some things haven’t changed.

I spoke to a person the other day who’d been in business for 60 years.  They said they didn’t really understand this Facebook thing.  But, they did say that in their business, they never had to recruit a lot of new customers because their existing customers were so satisfied and happy with the product that they brought them new customers.

I told him he understood social networks just fine!

Here is what William has to say,

To gain some perspective and see the forest from the trees, I made up this diagram to depict the “whole marketing system”, and start from the top down gradually, so you can appreciate the hierarchy of cascading effects from one stage to another, and the objectives inside each phase.

Sometimes the path from Exposure to Advocacy takes 2 minutes, and sometimes it takes weeks or months. It depends on your product and the type of market you’re in.

And there’s an interesting closed-loop effect that happens. As your customers become advocates, they will in turn give you free awareness, so your marketing becomes self-perpetuating. As an example, every time you display your Twitter handle at the bottom of your email, or in your marketing material, you are also giving Twitter free advertising.

Click over and read the whole thing.  Very important concepts to understand.

Enhanced by Zemanta

Viewing all articles
Browse latest Browse all 2

Latest Images

Trending Articles





Latest Images