The 3 Things Startups Must Do Before Investing in Inbound Marketing

After my first few weeks at Label Insight I've already learned some things. The first being that I'm incredibly lucky to be able to work for a startup that has its shit together! During the interview process I was reminded a few times that we're a startup which means we don't necessarily have a process in place for everything and there are things we're still figuring out. However, in terms of my job in marketing, they had already figured out the most important things (except how to explain a 401K to me. If anyone figures this out please let me know...). It didn't matter that they had no email nurturing workflows created or hadn't written any ebooks yet - because you can't do any of that well if you haven't figured out these three vital things first. So, what did they do that helped me hit the ground running on my first day? 

1. Clearly Define What Problems You Solve

You've probably heard Leo McGinneva's explanation of this talking about why people buy quarter-inch drill bits. He explains how "people don't want quarter-inch drill bits. They want quarter-inch holes." 

"People don't want quarter-inch drill bits. They want quarter-inch holes."

Even back in 1960, Professor Raymond A. Bauer hit the nail on the head (excuse all the tool-related metaphors) when he proposed that when buyers select a known vendor or brand over another it's "more often an act of risk reduction rather than an expression of brand preference." Now, nearly 60 years later, we see this is probably more true than ever before. In fact, more than a third of people surveyed surveyed (37%) said they would be willing to switch brands if another brand shared more detailed product information. (Food Revolution Study)

Sure, Label Insight could have walked around spewing facts about the sheer volume of data we have available but that's not what's important to our customers. It's what businesses can do with the data we offer that matters. When we drill down (last tool metaphor, I promise) this data can power transparency initiatives that encourage brand loyalty and foster consumer trust. It can help both CPG brands and retailers develop a deeper connection with their customers. 

2. Decide How You'll Talk About What You Do

How did Label Insight know consumes even cared about transparency? How did they know that not only what they were doing was important but how to position it? Well, one reason is because they conducted a study of more than 1,500 consumers to determine how they make food choices and what they expect from brands in terms of product information. Taking this kind of deep dive into the wants and needs of their customers' customers helped them truly understand what the market was looking for and how the Label Insight solution could help. They found that among consumers there is a clear demand for more in-depth product information which gives brands the opportunity to foster loyalty and capture market share.

It was so amazing to walk into a marketing job where the information we had was not just assumptions made by salespeople or research from things like Google Trends (which can still be great) but was factual, detailed information directly from the consumers. It was crystal clear how our solution could help CPG brands and retailers. Label Insight just had to nail down (oops..one more) exactly how we would explain that to each segment who may be a good fit for us. 

3. Create a Company Culture 

One of the great things about walking into Label Insight was that I truly felt everyone's commitment to the mission of transparency. It permeates our entire company. We're not just focused on transparency for food products. We're transparent about the decisions we make as a company, what our roadmap looks like, and when we communicate with each other on a daily basis. This culture drives our passion and inspires us to do great work every day. This helped me see that this passion for transparency needed to come through in our content too. It's what draws people to working with us and what defines us as a company. It helped me discover our company voice and how to become a better Label Insight writer.

Label Insight had taken the time necessary to discover what problems they solve, decide how best to talk about it, and define a culture around it. Now it's up to me to create personas based on what we know and start marketing to them in a valuable, meaningful way. Wish me luck!