Startup success tips from Rappi and Yuno co-founder
At a recent event at Web Summit’s Startup University, Juan Pablo Ortega, co-founder of global payment management firm Yuno, discussed the marketing insights he gained from establishing food delivery service Rappi. His top three tips for early startup success involve employing guerrilla marketing techniques for B2C businesses, focusing on B2B enterprise decision-makers, and continuously improving the product for both customer segments.
Guerrilla marketing for B2C businesses
Ortega emphasized the importance of unconventional marketing strategies, such as guerrilla marketing, to create a buzz around a B2C brand and attract customers in a cost-effective manner. In the case of Rappi, guerrilla marketing played a vital role in its swift expansion, as new app users were offered free donuts and hamburgers without spending millions on advertising. This unconventional approach allowed Rappi to capture the attention of potential customers and create a buzz around their brand. Furthermore, providing these incentives helped establish a loyal user base that continued to utilize the app, spreading positive word-of-mouth and contributing to Rappi’s overall success in the market.
Focusing on B2B enterprise decision-makers
Additionally, Ortega stressed the need for startups to focus on building relationships with key B2B decision-makers and ensuring their product provides continuous value and improvements for both customer segments to sustain growth and success. When it came to Yuno, Ortega altered strategies from B2C to draw B2B enterprise decision-makers by refining the message to engage this demographic, leading to a substantial increase in leads. This shift in focus not only catered to the specific needs and challenges faced by businesses but also demonstrated Yuno’s commitment to delivering customized solutions for their target audience. As a result, Yuno experienced a significant boost in brand credibility and customer trust, ultimately contributing to their overall business growth and expansion.
Importance of messaging and product perfection
Ortega’s primary suggestions for startups consist of creating direct connections with pertinent media to deliver their message clearly, deliberately shaping messaging that strikes a chord with the target audience, and making sure the product is impeccable before expanding marketing initiatives. By establishing direct connections with relevant media outlets, startups can ensure that their brand’s narrative is presented accurately, leading to a stronger industry presence. Additionally, crafting a compelling message that resonates with their target demographic is essential for fostering consumer loyalty and driving demand, while a polished product will serve as the foundation for any successful marketing campaigns.
Leveraging customer feedback
Making use of net promoter scores (NPS) and including customer ratings systems into the product can offer valuable customer feedback for making necessary enhancements and ensuring ongoing success. Implementing these strategies can help identify areas in which the product or service is excelling and where improvements are needed, driving customer satisfaction and loyalty. Furthermore, by addressing the concerns and needs of customers through continuous adaptation and improvement, businesses can foster a positive reputation and increase word-of-mouth referrals.
In conclusion, Juan Pablo Ortega’s insights from his experience with Rappi, Yuno, and other startups demonstrate the importance of entrepreneurial adaptability, innovative marketing techniques, and a commitment to continuous improvement. By adopting these strategies, startups can maximize their chances of establishing a strong brand and achieving long-term success in their respective markets.
First Reported on: adweek.com
Frequently Asked Questions
What are the top three tips for startup success according to Juan Pablo Ortega?
The top three tips for early startup success provided by Juan Pablo Ortega are employing guerrilla marketing techniques for B2C businesses, focusing on B2B enterprise decision-makers, and continuously improving the product for both customer segments.
What is guerrilla marketing and how did it help Rappi?
Guerrilla marketing involves unconventional marketing strategies that create buzz around a B2C brand and attract customers in a cost-effective manner. In Rappi’s case, guerrilla marketing helped fuel a swift expansion by attracting new app users with free items like donuts and hamburgers, which led to increased customer loyalty and positive word-of-mouth.
Why should startups focus on B2B enterprise decision-makers?
Focusing on B2B enterprise decision-makers and building relationships with them can enhance brand credibility and customer trust, ultimately contributing to overall business growth and expansion. Providing a product that caters to the specific needs and challenges of businesses can demonstrate a startup’s commitment to delivering customized solutions for their target audience.
What are the key aspects of messaging and product perfection in a startup?
The key aspects include creating direct connections with pertinent media to present the brand’s narrative accurately, crafting a compelling message that resonates with the target audience, and ensuring the product’s quality before expanding marketing initiatives. These steps lead to a strong industry presence, consumer loyalty, and demand.
How can startups leverage customer feedback for growth and improvement?
Startups can make use of net promoter scores (NPS) and customer ratings systems to gain valuable feedback on product enhancements and ongoing success. Identifying product strengths and weaknesses, addressing customer concerns, and fostering continuous adaptation and improvement can increase customer satisfaction, loyalty, and word-of-mouth referrals, ultimately benefiting the business.
