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Slow Marketing: Strategy "Slow", Execution "Fast"

In the fast-paced world of startups, it may seem contradictory to suggest that slowing down can lead to faster results. However, the essence of slow marketing lies precisely in this principle: the more well-developed the strategy, the faster and more effective the execution.


Slow is fast. And fast is slow (and expensive).


The Pitfall of Rushing into Action

We’ve all heard the saying, 'cheap is expensive.' Imagine buying a travel suitcase for €25 instead of a better one for €40. If the cheap suitcase breaks after a few trips, you end up buying another, spending a total of €65. If you had invested in the €40 suitcase from the start, you would have saved money, time, and energy. This same principle applies in marketing: rushed decisions without strategic planning can lead to costly mistakes and problems within teams.


The Strategic Oversight in Startups

One common problem in startups is the lack of strategic marketing. A technological product has many advantages, such as the ability to change certain features quickly through code. For example, a product that used to do X can now do X and Y, or change to do Y instead of X.These changes can happen from one quarter to the next.


What is the problem for marketing? The marketing that is done is operational, reacting to product changes. That is operational marketing, without strategy. This means email campaigns, social media efforts, and other initiatives are based on the new product features.


But, has strategic marketing been applied? Generally, no. Rarely, yes. Because the product is developed by the product department, not by marketing, and in many cases, decisions are made by the CEO, who often has little marketing knowledge.


Why Strategic Marketing is So Important

If strategic marketing were applied, the marketing team, at least its leadership, would be involved in decision-making regarding product changes. They should have a say in these decisions, even if the final decision lies elsewhere.

However, what startups often do is develop what they call a GTM (go-to-market strategy), which is created by management (sometimes even the investors) and then handed off to marketing to do 'marketing stuff' (i.e., operational marketing: emailing, social media, ads, web content, etc.).

And I'm not saying GTM is bad. The GTM is a summarized marketing plan to add speed to decision-making, BUT it omits the most important part: the strategic aspect. It only addresses the Buyer Persona and the USP.

Moreover, it is not developed from day one. And the poor, abandoned marketing team will always be the ones blamed for not generating results. But how can they generate results if everything is done from somewhere else? You are given something poorly planned to promote, and then the problem is yours? This demotivates and stresses the marketing team.



The Typical Startup Cycle

  1. They design the product (just like that, with more expectations than realities).

  2. The CEO, product head, or a business-savvy intern creates an incomplete GTM without a strategy (instead of a marketing plan with its Marketing Mix and SWOT analysis).

  3. They don't know how to apply it.

  4. They hire someone knowledgeable to handle operational marketing, sometimes even setting up a team.

  5. There are no results, they blame the marketer, possibly fire them, and repeat the cycle.

  6. They fail.



The Marketing Problem in Startups: Not Doing Marketing from Day One

The product is just one element of the marketing mix, which in turn is part of strategic marketing. Without adequate strategic planning from the start, operational marketing actions cannot be effective.


Anecdote: A few months ago, a CEO of a 'future startup' contacted me looking for a marketing partner (CMO profile). He explained the already designed product in detail and what they planned to do with it and how much they expected to earn. This was the conversation:

Me: “But, have you developed this product with a marketing plan?”

CEO: “No, that’s what we are looking for now.”

Me: “If you already have the product well thought out and you haven’t made the marketing plan, how do you know it will work?”

CEO: “Because it’s a good product.”

Me: “Have you applied the marketing mix, have you done the SWOT analysis?”

CEO: “No, but the business plan is done.”

Me: “Can you send it to me?”

CEO: “That’s confidential.”

End of conversation.


The Big Mistake Startups make


Designing the product before planning the strategic marketing, ignoring the SWOT and the marketing mix. I’ll talk about SWOT in this post (with real examples). And I’ll touch a bit on the marketing mix here (I promise a dedicated post on it in depth).


The Marketing Mix and its 5 Ps

The classic marketing mix consists of 4 Ps, but I like to include the 5th P of people: target audience, buyer persona, and the social component of ESG.

  1. Product

  2. Price

  3. Place

  4. Promotion

  5. People

In the marketing mix, the 5 Ps depend on each other. If my product is an app (place) to help women (people) manage menopause symptoms (product), I have to consider where they are, on what media (promotion), and what price they are willing to pay (not the price I feel like setting).

By the way, a common mistake when applying the marketing mix is believing that the 5 Ps follow a specific order. They do not!


SUPER TIP

Each of the Ps in the marketing mix must be considered together and not sequentially. For example, a product promotion cannot be effective if the price or place where it will be sold has not been adequately considered. Moreover, people, both consumers and the company team, play a crucial role in the marketing strategy.


Implementing Slow Marketing

Slow marketing is not about being slow in execution, but about being meticulous and strategic in planning. Here are some steps to effectively implement it in a startup:

  1. Involve the marketing team from the beginning: The marketing team should be involved in decisions from product development, not just after it is completed. And the whole team, not just the leadership or the CMO.

  2. Develop a comprehensive marketing strategy: Before launching any campaign, it is crucial to have a strategy that considers all the Ps of the marketing mix and aligns with the company's long-term goals.

  3. Iterate and adapt: Although the strategy should be well thought out, it must also be flexible. The startup environment changes rapidly, and the marketing strategy should adapt to these changes without losing its strategic focus.

  4. Measure and adjust: It is vital to measure the results of marketing actions and adjust them as necessary. This allows for quick and effective execution based on real data, not assumptions.

Conclusion

Adopting a slow marketing strategy in a startup may seem counterintuitive in a world where speed and agility are valued. However, by investing time in meticulous strategic planning, startups can execute their marketing actions faster and more effectively. This not only saves time and resources in the long run but also increases the chances of success in a competitive market.

Remember, slow is fast. The more well-developed the strategy, the faster and more effective the actions will be."

 
 
 

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