Marketing a Startup: A Conversation with Moovit CMO Alex Mackenzie Torres
Marketing your product can be expensive. For startups, money can be a barrier to getting a product out there.
Alex Mackenzie Torres, CMO at Moovit, an app geared to help people schedule and ride public transit, sat down with Green Buzz Agency at Collision 2016 in New Orleans to discuss marketing on a limited budget.
Green Buzz: “So what’s your number one tip for companies who are trying to figure out how to market their product?”
Torres: “Number one is to have a very good product. We are very picky in terms of quality. We don’t launch until we spend months testing and making sure that it’s up to par from a data and scientific standpoint. If the product is good it should sell itself.
Once you have that I would focus on social media, influencer outreach and leveraging your own investors to help you get your product to consumers. And do a lot of PR. Never underestimate PR.”
Green Buzz: “Realistically, how much should you spend on marketing as a startup?”
Torres: “My rule of thumb is 20% or less of a company’s overall annual budget should be spent on marketing.”
Green Buzz: “That’s not much. At what point would you make investments in bigger marketing tools, such as video?”
Torres: “When we have a product launch, we invest in video. In terms of raising awareness of the product, and explaining new features about the product itself, video does a great job. And it makes sense to have video for product launches, when we’re trying to do a lot of PR. If you have a good script, and a high quality video, it can really do a lot.”
Green Buzz: “Are there any other marketing tips you’d want to share with startups?”
Torres: “It’s hard to market if you don’t feel like the product is going to perform. If you have a good strategy, and have a good product, and you’ll feel much more confident in your efforts.”
If you want to be apart of the new conversations revolving around tech and the startup world, sign up here for Collision 2017, which brings together top business professionals and innovators from around the globe for a full agenda of networking and presentations in New Orleans, Louisiana.