Entrepreneurial Marketing

Business School The University of Colorado DenverJake Jabs Center for Entrepreneurship

Guest Lecturer | Kimberly Arnold | CEO, Escalate Solutions | March 29. 2016

Escalate Solutions

Observations on

Kimberly Arnold.

@EscalateAdvisor

CEO/Founder, Escalate Solutions

3-time business owner

Growth strategy expert, specialist helping rapidly scaling and diversifying organizations

Entrepreneur committed to work life balance

Experience in sectors including gaming, entertainment, hospitality, tourism, leisure, healthcare, education, architecture, construction, technology, sustainable energy, development, social media, market research, non-profits and government

Board member (compensated and non-profits)

Speaker, author, conference producer

Community champion, charity advocate, philanthropist

Mission, Vision & Value Proposition.

Assist companies in their request to grow, scale and achieve sustainability utilizing strategic and deliberate practices.

Support the advancement of pioneering organizations with exceptional vision and that recognize the importance of innovation, creativity, deliberate growth, culture, values, philanthropy and business ethics as cornerstones of their mission.

Transform emerging, growing and transitioning entities - from startups and growth hackers to

non-profits and diversifying corporations - that need cross-disciplinary support across all departments and functions within their infrastructure to solidify, achieve and maintain aggressive growth goals.

Guide emerging organization utilizing the four pillars/tactics of strategy, alignment, implementation and optimization.

Leverage non-traditional, personal, culture and intangible business considerations.

Develop thought leadership for business, entrepreneurship, strategy, diversification and growth.

It’s a Niche to be a Generalist…Supporting Growth Across Disciplines

OBSERVATIONS.

Evolving definitions, characteristics and perceptions of EMo Practices, methodologies and techniques being adopted

beyond startups Beyond tangibles Amplified importance of strategic planning Progressions in external life cycles and internal growth tactics The death (i.e., irrelevancy) of the single-minded business

leader Stuff happens

6 ES OBSERVATIONS FROM PERSONAL & CLIENT EXPERIENCESENTREPRENEURIAL MARKETING

DEFINITIONS.

Limited resources Unorthodox toolkits and solutions “Anything & everything” mentality to produce

campaigns and results Adapted processes to address emerging

disciplines/schools of thought Emphasis on analytics, assessment, refinement,

optimization resulting from advancements in technology

CHARACTERISTICSENTREPRENEURIAL MARKETING

DEFINITIONS IN THE PUBLIC DOMAINENTREPRENEURIAL MARKETING

Its not about strategy but more about spirit. *(www.marketing-schools.org)

Marketing with an entrepreneurial mindset; the organizational function of marketing by taking into account innovativeness, risk taking, proactiveness and the pursuit of opportunities without regard for the resources currently controlled. (S. Kraus, R. Harms and M. Fink)

Behavior shown by any individual and/or organization that attempts to establish and promote market ideas, while developing new ones in order to create value.(Bäckbrö and Nyström)

ES DEFINITIONENTREPRENEURIAL MARKETING

Entrepreneurial + Visionary + Strategic + Structured + Pivot-Capable + Flexible + Passionate + Dedicated + Resource Limited + Impactful + Innovative + Experimental + Imitative + Perceptive + Tech-Savvy + Analytical + Risk-Tolerant + Fearless + Cross-Disciplined + Balanced + Customer-Focused + Value Generating + Imaginative + Inquisitive + Networked + Social + Time Intensive + Energetic + People-Centric + Personal + Involved + Philanthropic

(K. Arnold…Me!)

INTANGIBLE FACTORS.

Value more difficult to define (intangible)

o Contributing to a greater goodo Emotions, happiness, well-beingo Social status, comforto Convenience, efficiency, productivity,

performanceo Nostalgia

THE VALUE OF GOODS & SERVICES IN MARKETINGTANGIBLE VS. INTANGIBLE Value known at outset

(tangible)o Product – good or service – is

understood o Uses and benefits are clearo Can be tested in person or

experienced with the senseso Appearance translates to reality Value perceptions drive marketing strategies Advanced intangible-factors for EM stemming from liabilities of “smallness”, “newness” Attracting and retaining customers even more challenging

STRATEGIC PLANNING.

“Anyone who tries to assert that strategic planning is dead doesn’t understand the

methodology or core principles of what it is.

If the pillars of Strategy, Alignment, Execution and

Optimization are applied and revisited as

intended – all which encourage assessment, analysis and

pivoting as needed- the practice inherently can never be

irrelevant.”

Myth #1“STRATEGIC PLANNING IS DEAD”MYTHS ABOUT PLANNING

TRUTH

“Don't get so caught up in the idea

of short-term results that you forget

about scaling for the long-term.

Whether a bootstrapper, VC seeker, growth hacker, or more

traditional firm seeking diversification and

aggressive growth…the common EM tie is that being strategic and

deliberate is what makes entrepreneurs successful and

sustainable.”

Myth #2“TECHNOLOGY CHANGES DICTATE FOCUS ON TODAY”MYTHS ABOUT PLANNING

TRUTH

“It is erroneous to assert that pioneering implementation

tactics associated with models such as entrepreneurial, passion,

viral, buzz, guerrilla marketing and growth hacking can’t co-exist with strategic planning.

To the contrary, the more aggressive and out-of-the-box

the scheme, the more the guiding framework of strategy is

needed.”

Myth #3“PLANNING & AGGRESSIVE GROWTH CAN’T CO-EXIST”MYTHS ABOUT PLANNING

TRUTH

An investment in a dynamic, ongoing, evolving and flexible

strategic planning exercise is the most beneficial investment

that an entrepreneur can make.

STRATEGIC PLANNING IS EM’S MOST VALUABLE ASSETKEY TAKEWAY

TRUTH

LIFE CYCLES & TACTICS.

INTERNAL & EXTERNAL CONSIDERATIONSLIFE CYCLES & GROWTH TACTICS

TRADITIONAL LIFE CYCLES (EXTERNAL)FORMULATING

Formalize mission, vision, values and offerings

Solidify offerings that meet a demand, determine “fit” and differentiation in the market

Target demographics and, segments, make introduction to those potential clients

Classic and innovation channels including passion, relationship, viral, guerrilla, buzz marketing, growth hacking, etc.

SHORT-TERM• Strategies and

improvements likely to remain internal/organic

• Focus on supportive and expansive strategies for existing products

• Increase market share• Intensify sales via

tactics beyond guerilla, viral and passion marketing

• Acquire new customers• “Steal” from

competitors• Increase volume of

existing products• The 6 “P’s (product,

people, price, place, production, promotion)

MID-TERM Internal and external

considerations (new verticals, M/A, strategic partnerships, etc.)

Collaboration or cooperate with third parties

Maximize synergies, diversify risk

Enable R&D, marketing, distribution and procurement opportunities

Open new doors for expanded offerings and products

Consider untapped markets (new segments, uses, territories, and other options considered out-of-the-box

LONG-TERM Vertical

opportunities (directly relevant services and products)

Horizontal opportunities (indirectly related but in the “food chain”)

Open opportunities (new products not anticipated currently)

Continue external and strategic alliance opportunities

Consider exit strategies if relevantTAKEAWAYS: 1. INTERNAL PROCESS CONTINUES SIMULTANEOUSLY 2. TECHNOLOGY = TIMING COMPRESSED

STRATEGY & POSITIONINGGROWTH TACTICS (INTERNAL) In traditional and entrepreneurial

marketing, better outcomes stem from asking the right questions

9 Critical Topics = Aspiration, Assets, Challenges, Competition, Acumen, Customers, Infrastructure, Analytics and Profit Centers

For EM…enhanced importance answering with a balance of both analytics AND creativity

Sustainable energy example

ALIGNMENTGROWTH TACTICS (INTERNAL) Mission, vision, values, culture, goals

and outcomes are clear Every stakeholder, department,

function and individual at every level understands their role

Enhanced importance for EM’s..but applicable to all

Professional services firm example

EXECUTION / IMPLEMENTATIONGROWTH TACTICS (INTERNAL) Plans, tools, products and activities

that will be launched, tried and tested Advances in tech have opened up new

doors and opportunities to what those action items can be (where misperception of irrelevancy of planning stems from)o Classic channelso Innovative channels o Classic channels in innovative

ways Second professional services firm

example

OPTIMIZATION / REFINEMENTGROWTH TACTICS (INTERNAL) Technological advancements have also

impacted this step significantly Engage in the process assuming pivoting,

adjustment Prioritize KPIs and metrics that measure

what matters; all analytical tools not created equal o Overall qualitative and quantitative information,

voice of customer feedback, social media monitoring, experimentation testing and comparison, competitive intelligence, and/or conversion monitoring

MULTI-FUNCTIONING.

THE INEFFECTIVENESS OF MYOPIC LEADERSCROSS-DISCIPLINARY BALANCE

Details matter, but the big picture is also vital to company mission, vision, values, culture and goals

No one can be defined as a true leader if they fail to invest in or are unable to address overlapping industry, economic, community, philanthropic, government, regulatory and political realms

Single-minded and myopic leaders who can’t see the forest through the trees are unlikely to recognize when it is time to reassess, adjust or pivot

THE INEFFECTIVENESS OF MYOPIC LEADERSCROSS-DISCIPLINARY BALANCE

Ooooh! Here’s a new object that just “appeared”

on the right!

… And another, on the left!

GROWTH IMPACTS EVERY ASPECT OF OPERATIONS.

When the pitch or product gains traction and revenues soar, the administrative and operational ripple effects accompanying aggressive increases in revenues and business growth cycles are widespread and

multi-faceted across every function of the organization. Entrepreneurs, owners and managers have to be prepared to address the diverse array of

infrastructure needs, cross-disciplinary logistics and internal/external expectations that go hand-in-hand with such progress.

“An ideal entrepreneur, CEO or COO has to be both specialist and generalist. Effective leaders identify and retain the big picture, are willing to learn something

about everything, hire and oversee the specialists tasked to run every discipline, and consistently

contribute on a meaningful level to every aspect of a business and the greater community.

Cross-disciplinary balance and expertise is a must, particularly in an entrepreneurial environment.”

Advanced growth and scaling comes with multi-functional challenges. EMs have to address them all.

THE UNEXPECTED.

RESPONDING TO THE UNEXPECTED & UNWELCOMECRISIS MANAGEMENT

PROFESSIONAL • Market Forces• Strategy Shifts and

Unexpected Pivots• Business Partners• Investors, Failed VC

Initiatives• Clients• Vendors• Etc.

PERSONAL • Health & Wellness• Friends, Family• Parents, Spouse, Children• Colleagues• Work/Life Balance• Personal Branding• Etc.

(Left to right) My daughter, Addison - Age 1 - following major heart surgery; Age 4 - during a 2.5 year protocol of chemotherapy for leukemia; Age 5 - following reconstructive brain surgery to alleviate the impacts of a stroke she suffered during cancer treatment.

Entrepreneurs will have to shift, adapt and address to an unexpected crisis periodically. It isn’t always possible to plan for the unknown, but it is possible to be best prepared as you can

be.

RESPONDING TO THE UNEXPECTED & UNWELCOMECRISIS MANAGEMENT

 

“Purpose brings meaningfulness that fuels the fire for even greater intellectual curiosity and Sustained Superior Performance (SSP). I like to define SSP as steadfast execution amidst frequent uncertainty.

People who can perform in the face of ambiguity — those who can conceptually build a mental and emotional bridge and safely maneuver across it without setback — are the ones who ultimately discover their high performance status.” 

- excerpt from “Navigating Chaos” by Jeff Boss

CLOSING ADVICE.

ES CLOSING THOUGHTSENTREPRENEURIAL MARKETING 

Make your mission something you are passionate about Be deliberate and creative Don’t rule anything out Strategic planning is your greatest asset if you engage in the

process correctly… assuming pivoting, adjusting and re-tooling 

Entrepreneurial Marketing

Business School The University of Colorado DenverJake Jabs Center for Entrepreneurship

Guest Lecture | Kimberly Arnold | CEO, Escalate Solutions | March 29. 2016

Escalate Solutions

Observations on

Escalate Solutions helps businesses grow strategically and deliberately.

EscalateSolutions.com @EscalateAdvisor Escalate Solutions

karnold@escalatesolutions.com 303.886.4666