Venture marketing - finding ways to increase your profits
Need to find new ways to connect to your customers and increase your revenues and profits? Then you need to know more about venture marketing.
This site holds a collection of long-reads, podcasts and video's about venture marketing. It has been collected for educational purposes by students of the Utrecht University as part of the course Venture Marketing (EC2VM).
Having said that, all specialist topics are free to read, listen to or watch, but if you plan to use it please refer to this website.
What is venture marketing?
Venture marketing is a sub-discipline of marketing that focuses on SMEs and startups.
In the biography on Starbucks (yes, they used to be an SME too… once upon a time) the owner/ former CEO Howard Schultz wrote the following:
“If you look for the wisdom on marketing, most of what you’ll find is based on the Proctor & Gamble model. That is, you go after mass markets with mass distribution and mass advertising, and then focus on grabbing market share from your competitors. At Starbucks we have a different approach. We’re creating something new. We’re expanding and defining the market. We didn’t set out to steal customers (…) We didn’t go for the widest possible distribution...
We set out, rather, to educate our customers about the romance of coffee drinking.”
Taking this as a starting point we are looking for ways to educate customers
Another source of inspiration for thinking about marketing came from this video:
Sergio Zyman makes it so clear here that marketing is more than advertising only.
And so combining Howard Schultz with Sergio Zyman we get the following definition:
Venture marketing is all about selling one more product (or service), to one more customer, once more , for one more euro (or other currency) and at the same time being efficient with one more unit to create more one more euro of profit.
or to keep it simple:
Venture marketing is all about selling more products or services, to more customers, more often, for more money, and at the same time being more efficient to create more profit.
or maybe even more simple:
Venture marketing is about ways to create more profit.
Nâh… let's keep it at
Venture marketing is all about selling
more products or services,
to more customers,
for more money,
and at the same time being more efficient
to create more profit.
Schultz, H. (2012). Pour your heart into it: How Starbucks built a company one cup at a time. Hachette UK.
Sergio Zyman on Marketing Today (2008) www.youtube.com/watch?v=hqhTLx5vyVU (retrieved on May 13th, 2020 from youtube.com)