START-UP NEWS ISSUE #3
Marketing your start-up
Bootlaw's last event before the summer break, in partnership with 3Cs, started with a demonstration from Neil Ben, Training-n-Promo Films in how to create an online video for your start-up using a smartphone or tablet. Neil explained the power of video and the benefit of having recorded reviews from satisfied customers on your website compared to standard written appraisals. How a start-up is marketed can be critical to its success and this area is trending at present. Bootlaw has identified the following articles via Twitter which provide excellent advice for start-ups creating or reviewing their marketing strategy:
- How to Make Your Startup Stand Out in a Crowded Market, Simpleweb;
- What Every Successful Startup Knows About Marketing, Inc; and
- How most start-ups mess up their marketing, The New Web.
A social media strategy is essential for any start-up and this platform can be a key element to any marketing campaign. With a variety of social networks to choose from start-ups need to decide which one(s) most align with their business and will offer the option in order to interact with customers. Any online advertising including advertising on social networks needs to adhere to the Advertising Standard Association's (ASA) UK Code of Non-broadcast Advertising, Sales Promotion and Direct Marketing. The ASA has produced a helpful guide on how to advertise on social networks in accordance with its Code.
The majority of start-ups at some point will pitch their idea to potential investors. Following on from Neil Ben at Bootlaw's event with 3Cs we heard three business pitches. One pitch was from Sarah Buggle about her innovative company The Buggle that has designed an app to stream music being played in real time by DJs in bars to allow users to decide which venue to visit based on the set of music a DJ is playing. With an ambition to launch in either Berlin or London one crucial factor Sarah's pitch highlighted is the potential regulatory obstacles start-ups may come up against when establishing their business. The Buggle, for example, needed to consider whether it had to acquire a performing rights licence in the UK or Germany and the conditions that attached to any such licence, for example, the length of playtime for a particular piece of music from a DJ's set. James Khan from Dragon's Den provides a collection of tips on how to present the best possible pitch to potential investors.
Last week PayPal reported that it was launching its Start Tank scheme in the UK. The programme will offer five successful applicants the opportunity to spend six months at PayPal's London office and will provide mentoring as well as the chance to meet angel investors and VCs. The closing date for applications is 18 August. Given the high calibre of talent that has exited PayPal to start technology companies including YouTube, Eventbrite, Yelp, LinkedIn and Tesla Motors, this placement may give the successful start-ups a fantastic break and springboard. In July Google Ventures announced that it was launching a $100m fund for European businesses which further indicates the strength of the European start-up community. Google's aim is to make a financial return on any investment although its investments are not a precursor to acquisitions. Nonetheless, as Google Ventures will observe and learn about the innovative technology its investment start-ups are creating the potential exists for acquisitions to be made.
Don't forget to follow us on Twitter @Bootlaw for interesting start-up news.