The what and the why of a Sample Lean Marketing Communications Strategy, I get paid for the how.
Every Lean Marketing Communications Strategy properly begins with a well defined strategic goal.
A Sample Lean Marketing Communications Strategic Goal.
To remedy a deficit in awareness, within certain audiences, of an Economic Philosophy Center and its research as quickly as possible.
The identification of three such audiences is attributed to Friedrich August von Hayek himself by John Blundell in his 1999 introduction to the Reader’s Digest version of Hayek’s The Road to Serfdom:
AGAF (Antony George Anson Fisher):
“I share all your worries and concerns as expressed in The Road to Serfdom and I’m going to go into politics and put it all right.”
F. A. Hayek:
“No you’re not! Society’s course will be changed only by a change in ideas. First you must reach the intellectuals, the teachers and writers, with reasoned argument. It will be their influence on society which will prevail, and the politicians will follow.”
A Sample Lean Marketing Communications Strategic Direction.
Vision + Mission + Goals = Strategic Direction
To find a synthesis between an Economic Philosophy Center vision and what audiences would accept, not to capitulate to what audiences thought they wanted or to tell audiences what they ought to want.
To generate knowledge and understanding of the institutions that affect the freedom to prosper, and to find sustainable solutions that overcome the barriers preventing individuals from living free, prosperous, and peaceful lives.
To build awareness, within certain audiences, of an Economic Philosophy Center and its research.
To create disruptive innovations in the economic philosophy education status quo to achieve validated learning of the engine(s) of growth in awareness, within certain audiences, of an Economic Philosophy Center and its research on a continuous basis seems the only sustainable organizational path under conditions of extreme uncertainty.
To figure out the right products to create, the products audiences want and value, as quickly as possible.
The Build-Measure-Learn Loop (aka: Boyd’s OODA Loop)
(Act) – Build product – (Observe) – Measure data – (Orient) – Learn ideas – (Decide)
The lean marketing methodology of advancing the awareness, within certain audiences, of an Economic Philosophy Center and its research involves employing a productive cycle that begins with establishing a baseline with a minimum viable product.
This stands in contrast to a more traditional methodology wherein a great deal of time and resources are first expended in speculation that initial assumptions are valid. Rather than invest in assumptions, assumptions are first tested with a minimum investment in producing live experiments which test various hypotheses.
This lean marketing methodology continues with the analysis of data produced by the minimum viable product. The analysis leads to ideas for advancing in the strategic direction. Decisions are then made on how to continue and the lean methodology begins a new cycle. This cycle has been identified as both the build-measure-learn loop and the observe-orient-decide-act loop by different writers.
Audience Archetype Hypothesis Experiment
Tests audience segments, demographics and profiles.
Medium Hypothesis Experiment
Tests performance venues, traditional mediums and digital mediums regarding their efficacy, efficiency and speed including various applications, platforms, channels and technologies.
Value Hypothesis Experiment
Tests whether awareness, within certain audiences, of an Economic Philosophy Center and its research really delivers value to audiences.
Growth Hypothesis Experiment
Tests how new audiences discover awareness of an Economic Philosophy Center and its research.
Engines of Growth
Sustainable growth of awareness, within certain audiences, of an Economic Philosophy Center and its research characterized by one simple rule:
New audience members come from the actions of past audience members.
- Simple Word of Mouth. Caused by satisfied customers’ enthusiasm for the product. Online social networks.
- As a side effect of product usage: The Viral Engine. Normal usage automatically exposes new people to the awareness of an Economic Philosophy Center and its research. Hotmail and Tupperware ‘house parties’ for example. Powered by the viral loop, the viral coefficient determines its speed. The viral coefficient measures how many new customers will use a product because of each new customer who signs up. A viral loop with a viral coefficient greater than 1.0 will grow exponentially.
- Through funded advertising: The Paid Engine. Cost Per Acquisition of a new audience member must be less than the Lifetime Value that audience member generates. (CPA < LTV)
- Through repeat purchase or use: The Sticky Engine. Groceries, light bulbs and subscriptions for example. Track the attrition rate or churn rate very carefully and improve audience retention. The rate of new audience members acquisition must exceed the churn rate. The rate of compounding, the natural growth rate minus the churn rate, determines the speed of growth. A high rate of compounding leads to rapid growth without advertising or viral growth.
Summary of Measures and Outcomes of a Sample Lean Marketing Communications Strategy
(Observe) – Measure Data – (Orient) Validated Learning Metrics of Experiments
- Actionable: Must demonstrate clear cause and effect, a clear and objective assessment. Vanity metrics and success theater fail this criterion.
- Accessible: “Metrics are people, too.” Make reports as simple as possible so that everyone understands them. Allow widespread access. Cohort-based reports, which track the actions of people banded together or treated as a group, are the gold standard.
- Auditable: Data must be credible. Must be able to test if the data is consistent with reality, by hand, in the real world, by talking with real audience members. Mechanisms that generate reports cannot be too complex.
Innovation Accounting Enables Validated Learning Milestones
Baseline – Minimum Viable Product Experiment – First Product
- Do audiences recognize that they have the problem we are trying to solve?
- If there was a solution, would they buy it?
- Would they buy it from us?
- Can we build a solution for that problem?
Optimize – Changes – Sustaining Innovation
- Single-piece flow instead of batch processing
- Sales funnel analysis; AdWords, PPC
- Cohort analysis
- Root cause analysis, asking “why” until root cause revealed
Pivot or Persevere – Strategy
Learn ideas – (Decide) Pivots: Strategic Hypotheses
- Zoom-in: What previously was a single feature becomes the whole product.
- Zoom-out: What was the whole product becomes a single feature of a much larger product.
- Audience Segment: Product hypothesis confirmed, solving the problem, but for a different audience than originally anticipated.
- Audience Need: Audience has problem worth solving, but not the problem we offer even though it does solve some other problem.
- Platform: From being a single application (killer app) to a platform for third parties to leverage as a way to create related products or vise-versa.
- Business Architecture: High value, low volume (B2B) to (B2C) low value, high volume (mass market audience) or vise-versa.
- Value Capture: Intrinsic part of the product hypothesis, shallowly referred to as monetization or revenue model.
- Engine of Growth: see above
- Channel: Mechanism by which a product is delivered to audiences; sales channel or distribution channel; abandoning previously complex sales process to sell direct.
- Technology: Provides superior price and/or performance. Everything else stays the same.