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Ship in harbour may be safe, but this is not what ship is built for.Choose your destination . Draft your route.
Remember: Success is not a destination, it’s the journey.
Ilkka O. Lavas, City, Improve Media at Aalto University 2016. Photo by Riza Nugraha (CC BY 2.0)
Identifying and evaluating market opportunities.
Entrepreneurial methods
Photo by Lavas @ Burma Sprite Clone In Burma / Myanmar Is example of innovative method.
Ilkka O. Lavas• 3 books about entrepreneurship
”Unstoppable Entrepreneurship, Amazon”
• Partner, board member, investor– Portfolio of 15 businesses– 10+ aquisitions done– 4 exits
• Young Entrepreneur of the year 2009 in ’Southern Finland’
• 37years, 2 sons, 1 wife, 2,8k+ fb, 1.1k insta2,7k+ linkedin, Snapchat @ilkkalavas5,5k+ twitter @lavas
@lavas
Entrepreneurial Marketing: Agility
• Agility as a success factor?
• Lean Startup methods• What is agility?
Photo by Tarja Ryhannen Mitrovic / Flickr
http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf
MARKETING IS A CONTINUALLY OPTIMIZING LEARNING PROCESS
Secrets of Entrepreneurial marketing
AIDA
• A - Attention (Awareness): attract the attention of the customer.
• I - Interest: raise customer interest by focusing on and demonstrating advantages and benefits (instead of focusing on features, as in traditional advertising).
• D - Desire: convince customers that they want and desire the product or service and that it will satisfy their needs.
• A - Action: lead customers towards taking action and/or purchasing.
Choose your Target Audience
(Segment)
A- Attention (Awareness)
Marketing message, Getting noticed (push)
I - Interest: raise customer interest by
focusing on and demonstrating
advantages and benefit
D - Desire: convince customers that they want and desire the
product or service and that it will satisfy their
needs.
A - Action: lead customers towards
taking action and/or purchasing.
Outbound marketing
© Ilkka Lavas 2012 W3 Group Finland Oy
Inbound marketing loop
1. Attract traffic2. Convert visitors to
leads3. Convert leads to sales4. Turn customers into
repeat higher margin customers
5. Analyze for continuous improvement
1. Get found2-4. Convert
5. Analyze.
Target Audience
A- Attention (Awareness)
Marketing message, Getting noticed (push)
I - Interest: raise customer interest by
focusing on and demonstrating
advantages and benefit
D - Desire: convince customers that they want and desire the
product or service and that it will satisfy their
needs.
A - Action: lead customers towards
taking action and/or purchasing.
Create Audience
Tell your audience(tweet, facebook,
email)
Convert visitors to
leads
Convert leads
to sales
Convert buyers to buy
more and create
recurring sales
Collect Data, Analyze, Learn and
develop
Outbound marketing
Inbound marketing
© Ilkka Lavas 2012 W3 Group Finland Oy www.w3.fi
Analysis
1. Choose your segment
Where to start ?
The business model canvas
Something SomebodyWho?
START BYTHINKINGTO WHOM SHOULD I SELL
Customer Segment Example
Finns in Finland5.400.000 ppl
Customer Segment Example
Finns living abroad400.000 Finns +Kids 800.000 Finns
United States 700,000 Sweden 470,000 Canada 131,040 Brazil 90,000
OFFERING – MARKET -FITCase: Suomikauppa.fi
Search For business idea
• Search for business idea– Living abroad– Need for Finnish food and products– There was no online-shop where you can buy Finnish
products.– Relatives sent Finnish Chocolate Fazer Sininen and Juhla
Mokka Coffee. Difficult.• Common sources for new ideas: Customers,
Employees, Friends, Other Entrepreneurs, Magazines, Seminars, Common-Life-Problems/Situations
Product
Customer JobsCustomer PainsCustomers Gains
Is it safe to order online?What happens with the customs?How long time do I have to wait?How much do I have to pay?
I want to have Finland –party formy finnish kids.I want to teach my kids how to make rye bread yourself.I want Fazer Sininen Chocolate Now.I need to feed my babyborn.Eat something luxury
Happy family.Kids educated with finnish food-cultureExperience Enjoy finnish candies Safe milk for the babyDelivered directly to homeSafe for my kids. (vs china)
Timing
• We we not first. There was one pioneer who failed. We learned from pioneer and harvested the benefits.
• Payment systems? Online payment?• Are your customers used to pay online?• Are your customers willing to buy? • Do your customers know of your existance? How do I
reach my customers?• Do your customers already recognize the need of
your offering?
Be trustworthy• ”Finland is not a country, it is a club.”, everyone knows
somebody who knows you.• You can sell easily once, but to sell the second time you
must have been successful with the first delivery.• Returning policies• Customer service• Good relations with the customs• Import licences (US FDA, Australia etc)• Export licences• Reliability even during high peak seasons
Be ready to learn• You should never become too self-assured that you think
don’t need to learn anything anymore.• Learning is about the joy of imperfection.• Listen to your customers, our first 400 products were from
our customer wish list, now more than 3000 products.• Our customer were more experienced than us that they
want Fazer Chocolate, Taffel Chips and Harwall Jaffa delivered to more than 100 countries.
• We did not think that many Finns can’t write or read Finnish properly anymore if they have lived 20+ years abroad.
Our predessor failed, and we did learn
• 1996-1998 there the pioneer with smaller offering at the same market.
• They did not meet the needs of customers:– Only 30 products (we have over 3000)– Slow delivery (we deliver very fast and reliable)– Service only in Finnish (we have 8 languages)
• It was not right time to do business: Business opportunity Time window was not open yet:– Paying online was not very common
EXPANSION: CHOOSING ANOTHER SEGMENT
If we can deliver finnish products abroad, who else may be interested?
The business model canvas
Something Somebody
ELSE=Different message!
MARKETING IS CONNECTED WITH SALES
Sales?
Example marketing funnel
Organic Traffic SEM
Visitors to Web SiteOther Paid
lead sources
Raw LeadsRegistered Visitors / coocies / emails /
retargeting data
Qualified LeadsWe know this customer is about to buy
Inside Sales
Closed Deal
Marketing
Sales
1000-96%
40
-50%
20
20
-50%
10
Other Cases
Living in market turbulence:Technological changes
TurnaroundPrint media vs DigimediaCase CITY-magazine
City Digital3rd fastest growing company in Finland
SCALABLE DIGITAL SERVICES
Presented ad network
…
URBANITES
Market Opportunity, Growing Market
1985-2012
Business: print magazine
Area: HKI, Tre, Oulu, Vaasa, Turku. Local big cities
Customers:Local, Finnish customers
Circulation 200k-450k
Unique Visitors on website 100k
Content creators: 20
2012, 2016 ->
Business: Digital media family
Area: Finland, Global
Customers: Brands, local, Finnish and International customers and brands
Circulation 1100k
Unique visitors 8000k (8M)
Content creators: 150-200
Never Give Up!
1. Know where you
are
2. Decide, where you
want to go.
3. THEN GO
4. Fail and Learn
4. Be better
BUILD
MEASURE
LEARN
How can I start from learning
Build-Measure-Learn orLean-Build-Measure?
REMEMBER.YOUR MISSION IS NOT MONEY.
MONEY IS RESULT
OF AWESOME EXECUTION
Ship in harbour may be safe, but this is not what ship is built for.
www.improvemedia.fi
[email protected]: @lavasFacebook: IlkkaLavasGsm +358 400 997969Instagram:@ilkkalavas
www.life-changing-secrets.com www.city.fi/profiilit/lavas/blogihttp://www.linkedin.com/in/ilkkaolavas
