Marketing

The Elevator Pitch: What do You do? Why Should I Care?

By Mark Evans in Advertising/Marketing, Startups No Comments Tags: ,

Most people have heard about the “elevator pitch”, which succinctly describes what your company does and the benefits it offers users. It’s a two or three-line statement that, in theory, compels people to ask for more information.

Now, you would think that creating an elevator pitch is a simple exercise but it is surprising how many companies have ones that are bad, inaccurate or confusing. The big problem is there’s so much information they want to include, they lose sight of the fact it is supposed to be short and sweet.

The other issue is the people creating an elevator pitch live and breathe their company and products every day. It gives them tremendous knowledge but little external perspective or context. As a result, elevator pitches often reflect what a company wants to tell people as opposed to what people want to hear. It’s a subtle but important difference that often gets dismissed.

So what are the keys to a successful elevator pitch?

It starts by being as simple and to-the-point as possible. We do/make “X” that helps customers do “Y”. It’s a sentence anyone can understand immediately. There’s no industry acronyms or lingo. Again, think simple because we live in a fast-moving world in which people don’t want to work to get what your company does.

Second, make it abundantly clear how your product meets the needs of users. How does it make their lives more convenient or productive? Does it save them time or make their lives easier? Again, think about what the target audience wants or needs; not what you want to tell them.

Third, you need to think about adding a little sales sizzle by showing how your product is different from the competition. It doesn’t have to be a multi-pronged, technical kind of thing but a sentence that spells out why your product stands out from the crowd. Again, it’s not about blowing your own horn but making it clear to users that you’re not just selling another widget but something that rivals don’t do or offer.

The truth is creating an effective elevator pitch takes time and effort. It is an iterative process that can evolve from your original idea. It should also involve external testing, including people who do not have any involvement with your company to generate honest and frank feedback.

The other reality about elevator pitch is they change over time as your company, the marketplace, economy and customers change. It means making sure your elevator pitch is tested or updated on a regular basis.

For companies that have great elevator pitch, life is so much easier because every employee is reading off the same page, which provides consistency across the board.

If you’re looking for help with elevator pitches, messaging and other digital marketing needs, my company, ME Consulting, offers these services to startups and entrepreneurs.

Why Startups Need a Demo Video

By Mark Evans in Startups 2 Comments Tags: , , ,

A key challenge for startups is developing compelling ways to tell the world who they are and what they do.

It’s a straightforward proposition but it’s an easier said than done said process. Most startups do a good job to create products or services but they’re not as good at storytelling because it isn’t part of their core expertise.

There are different ways to tell stories but among the most engaging is the demo video. Whether they’re animated or live-action, demo videos are a great way to show people in a user-friendly way what they do and why anyone would be interested in, ideally, 120 seconds or less.

So why video?

Perhaps the biggest reason is people like videos. Given the choice between text and a video, people will pick a video most of the time. Videos are easy to consume because they require less work, a big consideration for people who are time-strapped and multi-tasking.

As well, videos can be used in a variety of ways. They can play a key role within a Web site, and serve as sales and marketing tools. Videos can also be easily shared via social media and, as important, search engines love videos so there is a solid SEO angle.

So what does a video cost?

It depends on your budget but a high-quality video can cost anywhere from $2,000 to $15,000, depending on the kind of video and production involved.

So how much should a startup spend? While it depends on marketing budgets, I recommend spending more than less because a video should be seen as a long-term investment that can be amortized over time and multiple uses.

A video that looks good and tells a compelling story can play a key role for startups looking for ways to capture peoples’ attention. A bad video such as a do-it-yourself screen capture project can hurt a startup because it creates the perception the product or service is low-quality as well.

In the scheme of things, a video should be a high priority for startups, even it means biting the financial bullet in the short term. Along with a good Web site, a video can be a way for startups to break out from the pack.

Speaking of video, ITBusiness is running a demo video contest with a $1,000 prize.

Why Startups Need Great Content

By Mark Evans in Content Marketing, Startups No Comments Tags: , ,

For startups, attracting the spotlight can be a major challenge.

Without large marketing budgets and an army of people to spread the word, it can be a struggle to get anyone to pay attention to a startup, even if it is doing interesting things. The reality is there is so much competition and digital noise that attracting the spotlight is not an easy proposition.

Given this difficult landscape, there is a tool that startups can use to get some traction: great content.

Content is a fertile medium because it requires things that startups have in abundance: domain expertise, enthusiasm and energy. With these three ingredients, startups have the ability to create content that offers value, insight and information about not only what they’re but the industry in which they play and the key trends impacting it.

Great content can provide startups with credibility, position them as thought leaders and attract more attention from people looking for insight from people who not only talking the talk but walking the walk.

So what does it take to create great content? For the most part, it’s time, people (it helps to have someone who can write), consistency and some ideas. In the scheme of things, the cost can be relatively modest but, over time, the ROI can be significant.

Core Messaging: The Foundation for Everything

By Mark Evans in Advertising/Marketing, Social Media 1 Comment Tags: , ,

One of the more interesting aspects of my consulting business over the past few months has been the growing number of core messaging projects. It is being driven, in part, by companies taking a look at their Web sites, and discovering what they’re saying to the world isn’t as strong or well-articulated as it should be.

Another twist on my core messaging business has been how some projects have started after being approached by companies interested in using social media. Soon after we begin to discuss their social media needs, it becomes obvious they need to do core messaging so they can figure out what to say to the world using social media.

The importance of core messaging has everything to do with how it’s the foundation of many of corporate activities – social media, advertising, marketing, business development, sales, communications and presentations. With well-defined core messaging, a company has a focused and consistent message every employee can confidently recite.

When PodCamp Toronto started accepting idea for panels, I jumped at the opportunity to do a presentation on the value of core messaging. With a growing number of core messaging clients and several blog posts under my belt, it is a subject that is consuming a lot of my attention and interest.

The presentation is focused on the importance of core messaging, what happens without effective core messaging, and how companies cam start the core messaging process. While the slides probably don’t convey all the details, a key element is thinking out of the box to develop core messaging and/or get third-party perspective to get a fresh or new approach.

Here’s a few links to my other posts on core messaging:
- Without core messaging, you’re DOA
- The Growing Importance of Messaging

PodCamp Toronto: Core Messaging Presentation

You Can’t Put Marketing Lipstick on a Pig

By Mark Evans in Advertising/Marketing, Social Media 1 Comment Tags: , , ,

There are some blog posts that state the obvious so well. A case in point is Union Square Ventures’ Fred Wilson’s post on marketing, which he caps off by proclaiming that:

“Marketing is for companies who have sucky products. If you build something that is amazing (think Flipboard or Instagram or Instapaper) people will adopt it because it is amazing. And you won’t have to do much marketing, at least at the start.”

Aside from Wilson’s stature within the tech community and the fact people tend to listen to the money guys, the post has captured so much attention because it reveals a truth no one really talks about: if a service or product sucks, it doesn’t matter how much marketing a company does. In other words, you can’t put lipstick on a pig.

Unfortunately, there are far too many pigs within the online world. The biggest cause of the “pig problem” is there low barriers to entry and how excited people get about new and shiny things. Building a new online service takes nothing more than an idea – not even a good one- and some developers – not even good ones. In no time at all, you’ve got a service that you think the world wants or needs.

Truth be told, most of these services have no or little interest. At best, they might be features within a product that solves a problem or creates new opportunities to delight. Nevertheless, entrepreneurs toil away at trying to convince the world they’ve built a better mousetrap and, in the process, spend a lot of effort and dollars on marketing activity such as public relations, search engine optimization, social media, AdWords and events littered with swag.

Sadly, these efforts are for naught because they can’t hide the fact their service or product has no appeal and/or isn’t wanted to needed.

When I talk to clients about marketing and social media, one thing I make abundantly clear is at the end of the day, their product or service has to be great or needed. It has to solve a problem or do something new or different in a way that consumers easily discover and embrace. Without a solid foundation, it’s difficult, if not impossible, to build PR, marketing or sales programs on top of it.

It’s the reason that I often talk entrepreneurs away from using a PR agency as a way to attract attention until they gain some customer traction. Without success, start-ups risk being just another company with a quasi-interesting idea as opposed to being something that actually has interested and engaged customers, which is a big difference.

Wilson’s post should be required reading because of its “truthiness”.

Why I Still Love Blogging

By Mark Evans in Blogs, Social Media 15 Comments Tags: , , , ,

When I started blogging in 2004, it was cool, exciting and popular. Everyone was talking about blogs, commenting on blogs and starting blogs. The love-fest was not a surprise given how blogs gave people a new, user-friendly platform to reach a global audience about any interest or topic.

Fast-forward seven years (wow!) and blogs are a solid part of the landscape but far from sexy or cool. If social media is a dance, blogs are the nice but bespectacled girl/boy standing in the corner while the cool kids (Facebook, Twitter and YouTube) are wildly partying in the middle of the dance floor.

A story in the New York Times talks about how interest among young people in blogs is declining because it is easier to find an audience on Facebook and Twitter. Other reasons for not blogging include being too busy to write post, the lack of readers and the fact blogs don’t help them keep in touch with friends and family.

These are legitimate issues. Blogs can be challenging to write because they need lots of ideas, enthusiasm and, ideally, the ability to write well and quickly. And it can be difficult to attract an audience given the competition. Blogs may not also be the best social tools, compared with Twitter and Facebook.

Nevertheless, I’m still convinced blogs are an important and viable part of the social media landscape even though they may not be sexy. Perhaps the most compelling reason why blogs are still alive and well is they provide people and companies with an excellent platform to discuss ideas, provide commentary and perspective, and establish though leadership. These are things that are difficult to achieve using Facebook or Twitter.

The biggest reason I blog here and a couple of other places (Twitterrati and Sysomos), is I enjoy writing them. I like being able to explore and share my ideas. Whether it’s an audience of 10 or 1,000, it really doesn’t matter. Blogging also made it a snap to walk away from career as a newspaper reporter because I still had a way to deliver my ideas.

Sure, I would like more readers because I think my blog offers solid value and perspective. But blog readership is a tricky beast because quality doesn’t always rule the day. If readership is the main criteria for writing a blog, you will likely be disappointed. Instead, you need to focus on quality rather than quantity.

The other key reason for blogging is it is a great way to support my digital marketing consulting business. When potential clients are deciding whether to spend money on you, they need to be comfortable that it’s the right decision. Despite the economic rebound, companies are still being careful with their spending. My blog, hopefully, shows them my insight, ideas, approach and commitment in a way that Twitter and Facebook could never do.

For me, a blog is a terrific marketing vehicle because it’s user-friendly for people not into Facebook and Twitter. For the most part, my target audience aren’t people into Twitter and Facebook. They’re people running businesses but they’re comfortable reading a blog because it’s a Web site on steroids. For them, blogs are a good way to quickly get a snapshot of who I am and what I do.

I often tell people that blogs are dinner while Facebook and Twitter are desert. Everyone loves dessert because it’s sweet and sexy. This is particularly relevant when it comes to children, who will rush through dinner or not eat it at all because they’re so excited about dessert. In a way, their behaviour about dessert explains their interest in blogs.

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