inbox

A Startup Marketing Checklist for ’13

marketing checklistFor those of you who believe in New Year’s resolutions, there’s no better time for startups to have a strong grasp of their marketing goals for 2013. Here are five tips for making sure you have the right approach to jump-start growth.

1. Commit yourself to marketing. It’s not an after-thought or something that will happen after there’s sales traction. Marketing has to be baked into your business plan as much as development and sales activity. And stop thinking about marketing as a cost because it only shows a lack of understanding of what marketing can achieve.

2. Know thyself, what your company does and how it meets the needs of customers. Otherwise known as core messaging, it’s the foundation for how the business operates and carves out a competitive edge. A failure to have a clear vision can make a company vulnerable and unable to take advantage of new and different opportunities.

3. Have a strategic and tactical implementation plan. This means having a strong grasp of your goals, objectives and success benchmarks. As important, it provides a company with a clear idea of what needs to be done and the resources needed to make it happen.

4. Be super-clear about your target audiences. Who are the people who need to hear about your company and products? Who’s your core customer, and what can you do to make them look like heroes? Where and how do they consume information? What is their buying behaviour?

5. Make sure your product delights. It’s not just about bells and whistles but delivering a product or service that meets the needs of customers elegantly, simply, quickly or effectively. This can include the sales funnel, the buying process and post-sales customer management. Any touch point should be positive and delightful.

6. Provide 360° customer service. It’s important not to forget that your customers can become powerful marketing vehicles that can spread the word to new places. As a result, you need to not only keep them happy but continually arm them with new information that will keep and spark their interest in your product.

More: Here’s an Entrepreneur story on the importance of including marketing within a business plan.

Tagged , |

This Week in Canadian Startups (Dec. 30, 2012)

startup newsletterWith the holidays in full swing, there was a slight dip in startup activity but still more than enough material for this week’s newsletter.

The edition kicks off with a piece on how U.S. VCs have discovered Canadian startups, a review of the 15 highlights from Waterloo’s tech community, and how ex-RIM employees are moving into the startup world.

To get the newsletter delivered to your inbox every Saturday morning, you can subscribe to the newsletter.

 

Tagged , , |

Blogging in 2012: Less = More

bloggingLooking back, it seems hard to believe but I used to blog six or seven days a week. As a former reporter, it was pretty easy to generate posts, but sometimes it felt like a chore as opposed to a joy.

As my startup marketing consulting business got busier in 2012, some things had to give. One of them was blogging. It made no sense to stop blogging as it’s one of the best marketing tools in my arsenal, but I decided to blog less: two to three/week.

At first, it felt strange. Then, it felt liberating to not have to feed the beast as much.

Instead, I wrote posts that, hopefully, had more substance and value. How often to blog is an interesting proposition because there are no limits on the number of posts. Some people love writing every day, while others are content to write once a week or, like entrepreneur Paul Graham, once a month. It really comes down to what feels right for what you want to achieve.

Looking back, the top-1o posts for 2012 were:

1. Hot Canadian Startups: A look at the “hottest” 108 startups, and the leading VCs.

2. The Canadian Venture Capital Landscape: An infographic that showed the leading players in each investment category.

3. 10 Common Mistakes Made by Startups: A look at the biggest things that undermine a startup.

4. Five Mistakes Made by Startups: Clearly, mistakes were a big theme. :)

5. Canada’s Tech Sector is Thriving, Not Struggling: A rebuttal to a feature story  in the Globe & Mail.

6. Five Reasons Why GoInstant is a Big Deal: Some thoughts on Salesforce.com’s purchase of GoInstant.

7. The Power of the Elevator Pitch: Why having a compelling elevator pitch is a no-brainer.

8. Too Many Startup Ideas: Some thoughts on whether some startups are more features than businesses.

9. A Q&A with Howard Gwin: An interview with OMERS Ventures’ Howard Gwin on the Desire2Learn deal and the Canadian VC landscape.

10. What Makes a Startup Disruptive? A look at a term that is regularly tossed about.

More: Some of the startup blogs that I read on a regular basis include:

- Instigator Blog (Ben Yoskovitz)

- StartupCFO (Mark MacLeod)

- Rocket Watcher (April Dunford)

- Both Sides of the Table (Mark Suster)

- Version One Ventures (Boris Wertz)

- Startup North (David Crow)

This Week in Canadian Startups (Dec. 24, 2012)

startup newsletterIt’s difficult to believe this is the second-last newsletter until 2013! This week’s edition includes Derek Ting’s op-ed piece in VentureBeat on the three reasons why Canadian startup entrepreneurs should stay north of the border, my list of the 108 “hot” startups (along with the 10 startups of the year and the leading VCs), Influitive raising $7.3-million in financing, and Mark Suster’s post on the “unsung” heroes of the startup world.

It’s a snap to subscribe to the newsletter, which is published every Saturday morning.

Tagged , , |

Canada’s Hottest Startups and VCs for 2012

startupsTo be honest, I’m not a big fan in “hot” lists because they’re so subjective. For startups, it’s difficult to assess “hot” because  a variety of metrics can be applied. And, sorry, using Alexa.com to measure “hot” is a flawed approach.

But in keeping with the situation, here’s my completely unscientific list of the hottest startups and VCs. For the startups, it was creating by scraping the portfolios of the leading VCs and accelerators, lists created by Red Herring, Deloitte, CIX and PWC, and some personal selections. (I have tried not to include startups that have been snapped up such as GoInstant, or companies that have grown to become SMBs such as Freshbooks.)

From all this data, I picked 10 “hot” startups: Frank & Oak, 500px, Fixmo, HootSuite, Beyond the Rack, Keek, Top Hat Monocle, Chango, Wave Accounting and WattPad.

Canada’s hot VCs are: OMERS Ventures, Real Ventures, iNovia Capital, BDC, Golden Ventures, Extreme Ventures, Klass Capital, Relay Ventures, Mantella, Version One Ventures and Rho Canada.

In alphabetical order, here’s the complete list of the “hottest” 108 Canadian startups. (Feel free to make suggestions by leaving a comment).

360incentives.com
360Pi
500px
Achievers
Acquisio
AppHero
Archon Systems
Atomic Reach
Axonify
Azzimov
Bering Media
Beyond the Rack
BluePrint
BroadbandTV
BuzzBuzzHome
Canopy Labs
Celtx
Chango
Clarity.fm
ClearFit
ContactMonkey
Crowdbase
Dejero Labs
Digital Journal
EcoBee
Empire Avenue
Employtouch
Engagio
ePact
Fastgrab
Financeit
Fixmo
Flixel
Fluid Surveys
Food.ee
Frank & Oak
Gijit
Good Momming
Granify
Guardly
HomeSav
HomeStars
HootSuite
Hopper
Influitive
InfoActive
Infusion
iNovia
International Gaming League
Jibestream
KarmaHire
Keek
Kera
Kira Talent
LeadSift
LemonStand
LISTN
Livelenz
Lymbix
Mobovivo
Mobify
MyCustomizer
MyShoeBox
N8 Identity
Newtrax Technologies
Nulogy
Oompf
Openera
PageFreezer Software
Payfirma
Penyo Pal
Photonic Knowledge
Picatic
Playerize
Printchomp
Procurify
QuickMobile
reelyActive
Scribblelive
SecureKey Technologies
Shifthub
Shiny Ads
Shopcaster
Shopify
ShopLocket
SimplyUs
Sitescout
Skyscrapr
Source Metrics
SpaceList
StyleCaster
SurfEasy
Sweet IQ
SweetTooth
Top Hat Monocle
TribeHR
Uberflip
Unbounce
Urbita
Urthecast
UXP Systems
Valydate
Vana Workforce
Venio
Viafoura
Vidyard
Wajam
WattPad
Wave Accounting
Well.ca
Yactraq

More: Another way contribute to a “hot” list is casting your vote on Techvibes’ 2012 Canadian Startup Awards.

Tagged , , |

Want the Media Spotlight? Get Some Traction

A couple of years ago, I was working with a startup looking for media and blog coverage after launching a new online service.

It hired a U.S. PR agency that promised the stars and the moon, and then the startup waited for its time in the spotlight…and waited and waited.

The startup soon realized that although its service was interesting, there were hundreds of other startups battling for attention. Without something unique, the startup was just adding to an already noisy landscape.

So the startup went back to work and continued to work on its product, marketing, sales and customer service. One day, something magical happened when its service hit the Chrome store the same day as Angry Birds.

The next thing you knew, the startup began to attract lots of users, achieving this wonderful thing called “traction”. Before you knew it, reporters and bloggers were looking for interviews, and the VCs were banging on the door.

The valuable lesson learned by this startup is that traction matters. While a few startups such as Dollar Shave Club hit the jackpot from the get-go, most startups are lucky to attract media and blog coverage. Unless a startup has something that makes it stand out from the crowd, its product is, at best, interesting or, at worst, meh.

This means most startups should stop worrying about media and blog coverage because it really doesn’t matter. What matters is traction, which means more users, customers, revenue, brand awareness and competitive momentum.

So, how do you get traction? Here’s a “traction bullseye” to get going:

1. It starts with the product, which has to fill a need, solve a problem, etc. In other words, it needs to offer some kind of value. You can do all kinds of snazzy marketing but if a product is a dog, sooner or later, it’ll bark.

2. Some startups never buy into it, but marketing matters. It’s difficult to get anyone’s attention (customers, partners, investors, media, etc.) without telling good stories. You need to give people reasons to pay attention to you as opposed to all the other startups.

3. Sales matter too, whether people to pay for it or they use a free service that is ad-supported. The more users, the better the business or business prospects. Sure, it’s Business 101 but as Ben Yoskovitz wrote recently, startups need to be selling all the time.

4. Customer service plays a key role to keep existing customers happy, encourage them to spread the word and create a vibrant user community, and attract new customers.

Startup traction

It goes without saying that traction can be difficult to achieve but startups that do get it not only have a booming business but usually have no problem getting as much media and blog coverage as they want. The ironic part is the coverage happens when they don’t need it as much!

My advice to any startup about media and blog coverage is to consider it the cherry on the sundae as opposed to a major milestone. Sure, the glory is gratifying, it’ll make your parents proud, and maybe it will attract some new customers, but it doesn’t fundamentally drive your business.

In other words, it’s a nice to have, not a must-have.

More: For more thoughts about traction, here’s a talk by 500 Startups’ Paul Singh that includes some thoughts on how traction is a great way to attract venture capital.

Tagged , , |