l@missrogue | @tctotem | #startuplieshttp://www.flickr.com/photos/milkyworld/3128291642/sizes/l/in/photostream/
@missrogue
“Subscription services are a fad.”
BEFORE
“The market isn’t big enough.”
“We don’t invest in high costs with low margins.”
“Women don’t need this service.”
@missrogue
“What a brilliant idea!”
AFTER
“Best tampon ad in the history of the world.”
“What [revenue] took me a month, I now do in an
hour.”
@missrogue
“My tiny company that had been limping along released a video. And the video exploded...Suddenly I had a flood of orders and received an
outpouring of support in the form of emails from women and girls around the world.”
Naama Bloom, CEO HelloFlo
l@missrogue | @tctotem | #startuplies
where is the marketing problem?AWARENESS RESEARCH DECISION USE RE-USE REFER LOVE
Do they know you
exist?
Can they find you
when they are looking?
How do you stack up
against the competition?
What’s the user
experience?
How frequently
would people use
your product
Is there a reason that
people would share/recommend?
Do your users fall in
love?
PR, WOM, ads SEO, SEM Reviews
Product*, customer service
Usage/demand
Sharability/Growth Hacking
Community
We were in the wrong places, not
building relationships
with the right people.
Our SEO was pretty decent, but we didn’t have any
budget for SEM.
Very few reviews.
Most people were raving
about Pinterest
and Shopstyle.
Took us a while, but we finally got to a
great user experience. Too late…
The frequency
for searching
for specific fashion
items too rare.
People did share when they found
and used us.
A few did. But we
didn’t build the
community we should
have.
l@missrogue | @tctotem | #startuplies
2. build stuff people need + they will come
https://www.flickr.com/photos/ep_jhu/3308079338
l@missrogue | @tctotem | #startuplieshttp://www.flickr.com/photos/28291679@N06/4039684475/
The market is saturated with products, apps, and services. It’s
no longer about building something that people need. It’s about building something that
people love. That’s really hard.
l@missrogue | @tctotem | #startuplies
market research 101Start with core assumptions. Here are a few:
1. a target customer (not everyone): Ours was “women who love fashion + shop online”
2. the problem you are solving: Ours was “Shopping for fashion is frustrating. Too much choice + not enough personalization.”
3. knowledge of the current ‘solutions’ + why they don’t measure up: Ours was Shopstyle + that it doesn’t account for personal style and doesn’t include non-affilate shops
l@missrogue | @tctotem | #startuplies
http://www.talkingtohumans.com/
Talking to Humans by Giff Constable.
BUY IT.
l@missrogue | @tctotem | #startuplies
market research 101
Now, challenge those assumptions with real research:
1. walk a day in your customer’s shoes (go through the exercise of buying something or using something)
2. find a way to observe how people actually solve the problem
3. ask people (strangers - not friends) who have just gone through the exercise about their experience
http://www.talkingtohumans.com/
l@missrogue | @tctotem | #startuplies
also:
0
250000
500000
750000
1000000
year 1 year 2 year 3 year 4
users profit
be realistic here
l@missrogue | @tctotem | #startuplies
55 articles about Buyosphere in major
publications. traffic generated?
(negligible - don’t believe the hype)
l@missrogue | @tctotem | #startuplies
5. raising money = success
https://www.flickr.com/photos/togawanderings/5899676716
l@missrogue | @tctotem | #startuplies
$$ stole our focus
https://www.flickr.com/photos/chicanerii/4410122852
l@missrogue | @tctotem | #startuplies
l@missrogue | @tctotem | #startuplies
we weren’t entrepreneurs. we were
fundraisers.(and we aren’t alone)
l@missrogue | @tctotem | #startuplies l@missrogue | @tctotem | #startuplieshttps://www.flickr.com/photos/kylaborg/9639740284
l@missrogue | @tctotem | #startuplies
entrepreneurialism is ultimately rewarding.
(if you are doing it right)
l@missrogue | @tctotem | #startuplies
don’t fall for the lies.
l@missrogue | @tctotem | #startuplies
l@missrogue | @tctotem | #startuplies
make your own path
l@missrogue | @tctotem | #startuplieshttps://www.flickr.com/photos/mlinksva/4086886707
l@missrogue | @tctotem | #startuplies
thank you!Tara Hunt
Director, Audience Development Entrepreneur-forever
[email protected] [email protected]
tarahunt.com / totem.tc
@missrogue
l