Flying the Stork into a 100,000 hands Marketing Strategy For Rimads’s Customer App Presented by Aamir Masood | Contact: aamir.cmu@gmail.com Philosophy Marketing = Profitable customer relationships. Right product in front of the right people in form of an irresistible offer. Listening. An ongoing two way conversation beyond transactions. Serve before you sell. Product Marketing Strategy Outline The Brand The Audience The Funnel The Offer Allies / Partners Alternatives / Substitutes / Obstacles Metrics The Offer Business Partnerships Business Opportunities Hiding in Plain Sight The Brand What’s the (hypothetical) world we want to create through our product? What stories would we like our happiest customers to tell about us? What factors would drive influential people and other companies to want to work with us? How can we convey this message in different ways and forms online and offline? How do we convey this message through our product experience? Optimize first exposure content to ~7 seconds. Takes around 7 impressions before a prospect interacts with a brand (still far away from purchase) Test: what variations of our message resonate the most with different audience segments? Audience — who we’d like to have? General Questions: Age Technology sophistication Line of work Income Level Lifestyle tastes and preferences Fears & Aspiration (what’s important to them?) Where do they gather/hang out online and offline How do they make buying decisions? What kind of need-based segments make sense from the standpoint of messaging and offer creation? Audience — who we’d like to have? Known characteristics: - don’t want to spend time shopping for pharmaceutical items physically. - need to obtain a medicine/item urgently. - have a lot to lose if they fail to take their medicine on time. - need some expert insight before purchase but don’t need a doctor Anticipated characteristics: - take their health seriously enough to spend money proactively - willing to learn new ideas for better health - enjoy the process of discovering new products/solutions for a healthier lifestyle - love a good deal But, things come in a package What would be some of the important non-desirable characteristics in our target audience that we’ll have to work with? Audience — Awareness Journeys Unaware Problem Aware I don’t know anything. I know i have a problem but i don’t know what to do about it. Solution Aware Product Aware I now know what I need to solve my problem. But I don’t know if you provide it. I know what you sell, but I don’t know if it is the right thing for me. Ready To Buy (most Aware) I understand your product. tell me how to get it. You move audience between these stages through content (educational, entertainment & promotional content) The Funnel — Overall Process What’s the journey people take between not knowing us and buying from us? How do we grow this relationship after first purchase? Generate Leads Nurture Leads Conversion FIRST SALE Up sell Cross sell Ascension Referral Funnels — Starting Channel(s) Selection • • • • • how much testing will cost (e.g. on FB you can start on a very small budget, say $100) how much time the tests take to set up, how much time it will take to collect the results, how well the test targets your desired customers, how flexible the test is to adjustments / variations Key Metrics What numbers should we focus on to ensure that our relationship with the customer is healthy AND profitable? Ideas: New leads per month Cost per lead (segmented by channel / campaign / referral partner) Cost of first purchase (by customer segment) Monthly Active Users Average order value Purchase frequency Conversion rate on promotional campaigns / emails selling general health products Most used features of the service Points of breakdown / user dropoff in the digital experience. Highest revenue customer segments (by demographic / acquisition channel) Highest profitability customer segments (by demographic / acquisition channel) The Offer Cost of getting medicine/item delivered Cost of consultation? Payoff for signup, completing profile, and other action that move the user closer to being a customer. Payoff for buying higher value orders/ promoted products Payoff for refererrals? The Offer (setting Price) Launch a pricing optimization survey. Start getting the most out of how much your product costs by asking your customers the following four questions: At what price point would you no longer consider paying for (your • product)? What is the most expensive price that you would still consider paying for • (your product)? What price point would you consider a great deal for (your product)? • What price point would you consider too inexpensive and cause you to • doubt the quality of (your product)? The answers point towards the optimal price range for the offer. Perfect with continuos testing. Alternatives / Substitutes / Obstacles Whats an easier way for people to obtain pharmaceutical items without having to use our product? What could make it difficult for us to serve customers profitably. • • • • • • Dependence on government health centers Asking a family / friend Discomfort with the idea of online consultation, ordering and delivery People who may want to use our system just for consultation and then carry out their own purchase Per order value becoming cost prohibitive from logistical standpoint Pharmacies trying to circumvent us through their own delivery services Alliances & Partnerships Potential candidates - Pharmacies - General Retail Outlets - Related/ancillary products (supplements / baby food / essential oils / other health products) - Fitness clubs - high profile people with diverse networks (connectors) - people with deep networks in key places - Health & Fitness niche journalists / bloggers (mavens) - Events - Publications Big Questions: - What would it take to make them happy putting Rimads in front of their audience? - How do we design affiliate programs that attract high quality partners and automate most of the admin work. The Virality Question Short term strategy: STEPPS Framework social currency triggers emotions public (social proof) practical value stories Long Term Strategy: Taking Excellent Care of Your Existing Customers Rewarding them (intrinsically / extrinsically) for bringing new people Now let’s discuss two ideas nobody’s talked about (in our previous meetings) — BUT these are BIG money makers for your company. Hidden Sales Opportunities High-end Non Pharmaceutical Health Products • • • • • WHY IS THIS SO IMPORTANT? Look at the bigger picture: your customers don’t just want to be LESS sick, they also want to be MORE healthy. You are helping them achieve their ultimate goal by offering them non-medicinal products. These products usually have even higher profit margins than the usual pharmaceutical products. Your customers may have similar problems acquiring these products as regular pharmaceuticals Opens doors for affiliate / product-distributor partnerships. Gives people more reasons to talk about you Untapped Marketing Opportunities Tourists & Business-people Visiting Qatar • • • WHY IS THIS SO IMPORTANT Look at the bigger picture, again: You are in the business of lowering inconvenience and risk for people who need medicines on time. Tourists and visiting business people fit that definition even better than local audience because they mostly don’t know how to get to pharmacies in qatar and/or are extremely busy to do this themselves without any help. Opportunity to collaborate with Hamad International Airport and local hotels because you are offering something that is valuable to their customers.
