bootstrap marketing

BOOTSTRAP MARKETING

Brandon T. Luong, Founder

Guanxi Innovations

@BrandonTLuong

AGENDAAGENDA

‣ Brand-Marketing Strategy

‣ Marketing Implementation

‣ Analyze & Adjust

BRAND-MARKETING STRATEGYBOOTSTRAP MARKETING

@BrandonTLuong

BRAND-MARKETING STRATEGY

A brand is the set of expectations, memories,

stories and relationships that account for a

consumer’s decision to choose one product

or service over another. If the consumer

doesn’t pay a premium, make a selection or

spread the word, then no brand value exists

for that consumer.

“

”- Seth Godin


The aim of marketing is to

know and understand the

customer so well the product

or service fits him and sells

itself.

“”

- Peter Drucker


Branding

‣ Strategy

‣ Sets company image

guidance

‣ Gathers consumer

intelligence second hand

Marketing

‣ Tactical

‣ Delivers company’s

message to target consumer

‣ Gathers consumer

intelligence directly from

source

vs

BRANDING VS MARKETING


Bootstrap Marketing

noun

A tactical marketing plan giving the maximum ROI (Return on

Investment) at the lowest cost while aligning with the brand’s goals


APPROACHES ON MARKETING PLAN

1 2 3General Marketing Campaigns Product Marketing

‣ Year Round

‣ Relatively static

‣ Flexibility in adjust

‣ Set period of time

‣ Fast pace

‣ Long term planning

in short time

‣ Set period of time

‣ Fast/Slow pace

depending on

product

‣ Possibility of reusing

tactics again


Ensure marketing reflects the brand

FIRST STEPS IN DEVELOPING MARKET PLAN

1 Outline the goal(s) of the marketing plan

Metrics to validate the resources used in marketing2

3


Specific Measurable Attainable Realistic Timely

S M A R T

BE SMART AS TO REACH OBJECTIVES

*There are other frameworks you can use


EFFECTIVELY CAPTURE CLIENTS USING CUSTOMER PERSONA SCENARIOS

‣ Pit customer persona development to SMART framework

‣ Allows companies to understand who are their target audience, also discover

pivots sooner

‣ Gives insights on customers and how to persuade them to buy

‣ Lowers cost in customer acquisition, lifecycle and other costs


CUSTOMER PERSONAS AND SMART LIMITS UNNECESSARY EFFORTS

EX: Pick channels that are most relevant to your clients, and not profiles on every

single social network


HEADER 2

EXERCISE

1) Identify company’s value, swag, culture and overall brand

2) Develop consumer persona

3) Select channels based on your targets’ behaviors

MARKETING IMPLEMENTATIONBRANDON T. LUONG

@BrandonTLuong


STRATEGY MEANS NOTHING WITHOUT NUMBERS

‣ After establishing customer criteria, have metrics in place

‣ Know the real marketing cost: customer acquisition, lifetime value, marketing-

sales conversion, etc.

CAC = MCC

CA

CAC – Customer Acquisition Cost

MCC – total Marketing Campaign Cost

CA – total Customers Acquired


Real Formula for CAC

CAC = MCC + W + S + PS + O

CA

CAC – Customer Acquisition Cost

MCC – total Marketing Campaign Cost

W - Wages

S – cost of all marketing/sales Software

PS – additional Professional Services

O – Overhead

CA – Customers Acquired


Customer LifeTime Value cost

LTV = S x R x T

LTV = LifeTime Value

S – average value of a S

R – number of Repeated transactions

T – average retention Time in months or

years for a typical customer


A/B TESTING HELPS MARKETERS PIVOT THEIR STRATEGY

‣ Altering colors or layout may increase engagement

‣ Reveal which method is most effective

‣ Enables marketers to change strategy on the fly


IDENTIFY AREAS OF NEEDED MARKETING $

‣ Identify highest purchasing seasons according to market

‣ Budget total year, and how much goes into each

‣ Formula:

Budget = Digital + Physical + Software + Wages + Misc.


HEADER 2

EXERCISE

1) Review customer persona

2) Create several “Facebook Ads” for A/B testing

3) Class poll to see which ads are more effective

Constraints:

- Header is 25 characters

- Body is 90 characters

*Disclaimer: Facebook has an image – text ratio of 20%, but who cares for this exercise

ANALYZE & ADJUSTBRANDON T. LUONG

@BrandonTLuong

ANALYZE & ADJUST

‣ Review the numbers to adjust the plan

‣ Monitor and comprehend analytics as to avoid the red

‣ Ensure digits are align with goals

DON’T EFF UP; ADJUST ACCORDING TO NUMBERS

SUMMARY

‣ Frameworks are your friends

‣ Thy shall know the numbers

‣ Strategy Implementation Pivot Repeat

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THANKS!

‣ Body Level One

‣ Body Level Two


‣ Body Level Four

‣ Body Level Five

BRANDON T. LUONG

‣ Body Level One

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‣ Body Level Four

‣ Body Level Five

‣ [email protected]

‣ @BrandonTLuong

‣ Luong.webflow.com