This week, Rick gives Tyler some advice on how to make the most of his work retreat. Specifically, Tyler is a programmer who wants to build tools to help the marketing efforts at Less Annoying CRM, and Rick will suggest how those tools can fit into a broader marketing strategy.
- Marketing can be broken down into two categories: (1) bringing new people into the top of your funnel and (2) optimizing the conversion rates within your funnel. A lot of technical marketing projects are more about the second than the first. This can be helpful, but there's a ceiling to how effective marketing can be within increasing the top of the funnel.
- Increasing the top of the funnel is all about figuring out where your potential customers are, meeting them there, and telling your story. This can be done via inbound marketing (content creation, SEO, etc.) and outbound marketing (advertising, trade shows, participating in online communities, etc.)
- In order to know where to target your outreach, it's important to understand your existing customers. Where did they come from? What was their buying journey. This can be done by having one-on-one conversations with them, but it can also be automated by having analytics on your website, asking questions when someone signs up, etc.
- Because Tyler is interested in technical projects that help with marketing, a good approach is to build technology to help collect the right information about existing leads/customers so that the non-technical members of his team can understand where to focus their efforts to drive more people into the top of the funnel.
What is Startup to Last?
Two founders talk about how to build software businesses that are meant to last. Each episode includes a deep dive into a different topic related to starting, growing, and sustaining a healthy business.