For our current Cohort to give them a foundation around building a marketing acumen for their ventures, Pankaj Desai – Principal consultant Pitchfork partners, one of our empanelled mentors joined us at the Mumbai centre recently to interact with entrepreneurs there and on webinar across the centres. The session was themed around Designing a marketing plan from a Startup’s perspective. Pankaj opened up with making certain statements like “starting a Business is exciting but it makes sense to do some marketing rather than nothing.” He further said Marketing is a strategy, not something merely to be shoot in dark. Coming to Startup marketing, he called it a whole different science due to the limited resources of money, time and human capital.
Advising entrepreneurs to realize that Marketing goals have to be intrinsically linked to your business goals. He thrust upon building a foundation starting with some simple questions like Who to sell to? Who do we want a relationship with, wherein he briefed about customer profiling? Knowing who we are building for, what do they care about? How will we deliver the meaningful difference we are talking about? Doing Research to understand your Buyer personas, learning Buyers Buying Cycle. Competitive Analysis, – Understanding Competitors, SwoT Analysis -Analysing own strengths and weaknesses. Knowing the Market size. Is your value proposition unique enough to cut through the noise? Some more key ingredients while designing the marketing plan, Pankaj touched were:
Defining the Competitive Marketing Strategy, Evaluating your current position in the market and setting realistic goals, Aligning your Pricing and Positioning Strategy and Crafting meaningful Positioning statements and what will be the Promotions Strategy. Pankaj also spoke about Online Marketing Strategy which included keyword strategy, SEO strategy, Paid online Advertising Strategy, Social Media Strategy. He also briefed on Referral Marketing Strategy and Customer Retention Strategy
The session concluded by the entrepreneurial audience asking questions and suggestions around marketing strategies for their ventures.