Throughout the entire history of business, marketers have always been concerned with promoting their product or service to buyers. But then a new business model arose: Marketplace-based businesses like Uber and Airbnb not only market to buyers, but to sellers as well. How does this new dynamic change the job of a marketer? To find out, we talked to Kevin Frisch, CMO of Wag!, a marketplace for dog-walking services.
On this episode of Marketing Trends, Kevin talks about best practices for marketplace marketing, his best tips for a first-time CMO, his favorite campaigns he has ever been a part of, and much more.
Links:
Full Notes & Quotes: http://bit.ly/2lW1wrw
Kevin’s LinkedIn: linkedin.com/in/kevinfrisch/
Wag!: wagwalking.com/
5 Key Takeaways:
– For marketplace marketing, it takes time and experience to learn when to apply what tools to grow the marketplace. This includes promotions, acquisitions, and incentives on either side of the marketplace.
– Many companies that you don’t think of as marketplace companies have a lot marketplace dynamics, and marketers can learn a lot by thinking of them in that way.
– Market education is a crucial part of developing a marketplace. Education content develops a relationship with potential customers and eases them into the market.
– “In the many, many analyses I’ve done, getting something wrong with a customer and then fixing it makes them more loyal than if you’d never gotten it wrong in the first place.” – Kevin Frisch
– “Companies I’ve seen where they have the brand team here and the performance marketing team here, they end up just being so disconnected, and so having them sort of unified fairly closely I think is really, really important.” – Kevin Frisch
Bio:
Kevin Frisch is the CMO of Wag!, an on-demand dog-walking platform. Kevin joined Wag! from Uber where he served as head of performance marketing and CRM for North America and was responsible for acquisition, engagement, and retention of drivers, couriers, riders, and eaters. Kevin has also served as the CMO of GSN Games and Snapfish, a division of HP.
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