Marketing

Metrics, Metrics: Which Marketing Metrics Should Your Startup Keep Track Of?

Metrics, Metrics: Which Marketing Metrics Should Your Startup Keep Track Of?

We’ve all heard the phrase, “You can’t manage what you don’t measure.” But after reviewing several dozen startup updates and seeing blogpost after blogpost with lists of metrics, it feels like a founder could spend a significant amount of time just compiling and tracking metrics. Every investor has their favorite metric. So, many startups end up monitoring nearly everything. Or, the opposite – monitoring nothing. 

Positioning: What Makes You Different and Better?

Positioning: What Makes You Different and Better?

In an earlier post about marketing strategy, we suggested that there are 3 key questions startups need to answer:

  1. Who are you talking to?  That’s your Target Market.

  2. What are you talking to them about?  This is the Frame of Reference, or the product category, or the group of competitors.

  3. Why should they choose you?  This is your Point of Differentiation.

Target Marketing 101 for Startups

Picking a marketing strategy is a lot harder for startups than it sounds. Why is that? Basically, it means making three inter-related decisions (that is, the answers to #2 and #3 change as #1 changes):

  1. Who are you talking to? That’s your Target Market.

  2. What are you talking to them about? This is the Frame of Reference, or the product category or the group of competitors to be dealt with.

  3. Why should they choose you? This is your Point of Differentiation.

But notice, the first key decision is “Who is the target market?”