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  • Writer's pictureTracey

Boost Marketing ROI Without Big Bucks

Updated: Aug 10, 2020

Welcome to our newsletter, The Current – a brief with startup and marketing tips, coming your way no more than twice a month. Got a challenge? Email it to us & we'll address it in an upcoming edition.

Boost Marketing ROI Without Big Bucks

The most effective way to improve the efficiency of your marketing spend is to understand your product/market fit. Believe it or not, many companies who have achieved product/market fit don’t actually know why. If you don’t understand your product/market fit, your marketing tactics—and the money you pour into them—will never be as efficient as they could be. When you understand the problem you solve—and who’s willing to pay for the solution—you can create a message that resonates with customers and gets them to respond. Specificity here is key: you need to put the message in the actual words of your customer. How do you validate product/market fit? Working at a startup means embracing uncertainty, and launching tests to turn your questions into answers. Develop hypotheses of your value proposition. You might hash out hypotheses for hours with your team; that’s ok—no one really knows until you test. Create marketing messages using the exact words your customers use to describe the problem. Look at your customer interview transcripts. (Free PDF: “The Mom Test” offers useful interviewing advice). The right value prop turns into a message that instantly and deeply resonates with your customers. With the right message, you will see a difference in conversion. It may take many tests to get there. Social Currency can help David brands develop hypotheses, tests, and key metrics, and conduct market and customer research.

Currently Working On

A sign of the times? Current projects include:

  • Influencer relations for FitOn, the #1 free at-home fitness app

  • Helping an enterprise video surveillance-as-a-service (VSaaS) company build a lead gen machine

  • Launching Clear Arrival's re-entry solutions for offices, venues, and attractions to bounce back from the pandemic

  • Go-to-market strategy for a telehealth platform

  • Launching a clean surface wipe and sanitizer brand

Cool Stuff

Congratulations to our former client, Picture Genetics, for launching an at-home COVID-19 test. It’s an easy, FDA EUA-authorized test – just swab, mail back your sample, and get your result online, with the option to schedule a telehealth consult. Get one here.

We just finished reading Productive Profits: The Founder’s Guide to Scaling Your Impact. It distills years of actionable strategy and operations lessons into a quick read, and guess what, the Kindle version is free right now.

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