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Echelon singapore event preso todd kurie red mart

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The document provides 5 tips for startup marketing: 1. Observe customers by tracking site usage and customer information to understand audiences. 2. Listen to customers through support emails and surveys to understand pain points and feedback. 3. Use marketing channels that are low-cost, easy to implement, trackable, and scalable like Google AdWords and Facebook ads. 4. Track lifetime customer value to ensure customer acquisition costs are outweighed by long-term revenue. 5. Determine the optimal growth rate that keeps customers and investors happy without overloading resources. Manage channels to hit growth targets.

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5 simple tips to get your (digital consumer) startup marketing heading in the right direction Todd Kurie VP Marketing RedMart
About RedMart o Launched Nov 11 o Growth in 17 of 18 months o Jan 13: $3M ann. revenue o Raised $4M raised to date Echelon Singapore Satellite
The challenge of startup marketing Learn as quickly and cheaply as possible about: your customers, what they like and dont like about your service, the most effective ways to reach them, and the costas fast as possible the Grow of acquiring them and lifetime revenue you will likely generate, and THEN grow as fast as it makes sense Echelon Singapore Satellite
The challenge of startup marketing Learn as quickly and cheaply as possible about: your customers, what they like and dont like about your service, the most effective ways to reach them, and the cost of acquiring them and the resulting revenue you will likely earn, and THEN grow as fast as it makes sense Echelon Singapore Satellite
Tip #1 observe your customers o Take a quick look at whatever information you get from every user who registers even just names can reveal a lot of information about your audience. And if your site has search, look at that too. Echelon Singapore Satellite
Tip #1 observe your customers o There are a lot of free or low cost, easy-to-implement tools for tracking how users interact with you service. Install these and start monitoring on day 1. Echelon Singapore Satellite
Tip #2 listen to your customers o Customer support emails are not just for the support team everyone on the management team should receive them (and read them) it is the single best way to know what pain points your users are experiencing Echelon Singapore Satellite
Tip #2 listen to your customers o Users will gladly tell you what they like and dont like about your service, if you ask them (and especially if you give them a small incentive as well). Survey your users are least once a quarter. At RedMart, we get a 10% response rate to our surveys more than enough respondents to understand what they think about us. Echelon Singapore Satellite
Tip #3 use the right marketing channels o There is a big difference between marketing you can do, and marketing you should do. It is critical for a startup to initially focus on marketing channels that are a) low cost to test, b) easy to implement, c) able to track results, and d) are readily scalable. Thus at RedMart, our channel priorities are as follows Echelon Singapore Satellite
Tip #3 use the right marketing channels Channel Low Cost to Test Easy to Highly Easy to Scale Implement Trackable Google Adwords Facebook CPC/ Promo Posts Online display networks Print & Other Offline Out of Home (SMRT, etc) Stuff your CEO wants you to do Echelon Singapore Satellite
Tip #4 start tracking lifetime value now $ Revenue +$ --------------------Cost Per Account---------------------------------------------------------------------- -$ Today Time o If your revenue is dependent upon ongoing user transactions/ interactions, then you should have your version of the above chart built already and if you dont, google CLV > CPA now! Echelon Singapore Satellite
Tip #5 Know what growth is just right o Grow too little, and your investors will be unhappy. But grow too much, your service may break down and you risk making your Just right! users unhappy and if your business is dependent on ongoing activity this could be a killer. Know what the just right amount of growth is and aim for that. Echelon Singapore Satellite
Tip #5 Know what growth is just right Max target o You should prioritize your Facebook Post marketing channels and understand the degree to which Facebook CPC you can dial them up or down in order to hit an amount of Adwords activity (visits, transactions, etc) Min target Customer in between your Min/Max EDMs target range. At RedMart, we closely manage our EDMs, Organic Adwords, and Facebook activity to try to hit within the range. Echelon Singapore Satellite
Thanks! Echelon Singapore Satellite

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Echelon singapore event preso todd kurie red mart

  • 1. 5 simple tips to get your (digital consumer) startup marketing heading in the right direction Todd Kurie VP Marketing RedMart
  • 2. About RedMart o Launched Nov 11 o Growth in 17 of 18 months o Jan 13: $3M ann. revenue o Raised $4M raised to date Echelon Singapore Satellite
  • 3. The challenge of startup marketing Learn as quickly and cheaply as possible about: your customers, what they like and dont like about your service, the most effective ways to reach them, and the costas fast as possible the Grow of acquiring them and lifetime revenue you will likely generate, and THEN grow as fast as it makes sense Echelon Singapore Satellite
  • 4. The challenge of startup marketing Learn as quickly and cheaply as possible about: your customers, what they like and dont like about your service, the most effective ways to reach them, and the cost of acquiring them and the resulting revenue you will likely earn, and THEN grow as fast as it makes sense Echelon Singapore Satellite
  • 5. Tip #1 observe your customers o Take a quick look at whatever information you get from every user who registers even just names can reveal a lot of information about your audience. And if your site has search, look at that too. Echelon Singapore Satellite
  • 6. Tip #1 observe your customers o There are a lot of free or low cost, easy-to-implement tools for tracking how users interact with you service. Install these and start monitoring on day 1. Echelon Singapore Satellite
  • 7. Tip #2 listen to your customers o Customer support emails are not just for the support team everyone on the management team should receive them (and read them) it is the single best way to know what pain points your users are experiencing Echelon Singapore Satellite
  • 8. Tip #2 listen to your customers o Users will gladly tell you what they like and dont like about your service, if you ask them (and especially if you give them a small incentive as well). Survey your users are least once a quarter. At RedMart, we get a 10% response rate to our surveys more than enough respondents to understand what they think about us. Echelon Singapore Satellite
  • 9. Tip #3 use the right marketing channels o There is a big difference between marketing you can do, and marketing you should do. It is critical for a startup to initially focus on marketing channels that are a) low cost to test, b) easy to implement, c) able to track results, and d) are readily scalable. Thus at RedMart, our channel priorities are as follows Echelon Singapore Satellite
  • 10. Tip #3 use the right marketing channels Channel Low Cost to Test Easy to Highly Easy to Scale Implement Trackable Google Adwords Facebook CPC/ Promo Posts Online display networks Print & Other Offline Out of Home (SMRT, etc) Stuff your CEO wants you to do Echelon Singapore Satellite
  • 11. Tip #4 start tracking lifetime value now $ Revenue +$ --------------------Cost Per Account---------------------------------------------------------------------- -$ Today Time o If your revenue is dependent upon ongoing user transactions/ interactions, then you should have your version of the above chart built already and if you dont, google CLV > CPA now! Echelon Singapore Satellite
  • 12. Tip #5 Know what growth is just right o Grow too little, and your investors will be unhappy. But grow too much, your service may break down and you risk making your Just right! users unhappy and if your business is dependent on ongoing activity this could be a killer. Know what the just right amount of growth is and aim for that. Echelon Singapore Satellite
  • 13. Tip #5 Know what growth is just right Max target o You should prioritize your Facebook Post marketing channels and understand the degree to which Facebook CPC you can dial them up or down in order to hit an amount of Adwords activity (visits, transactions, etc) Min target Customer in between your Min/Max EDMs target range. At RedMart, we closely manage our EDMs, Organic Adwords, and Facebook activity to try to hit within the range. Echelon Singapore Satellite
  • 14. Thanks! Echelon Singapore Satellite