Developing marketing plan for b2b startup

The strategy which will enable the company to get new customers as a result of smart and efficient online marketing. Implementing Search Engine Optimization to attract new prospects. Using social media channel as a main way to contact with end-users.

Рубрика Маркетинг, реклама и торговля
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Дата добавления 01.08.2017
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Remarketing (brand focus) on key social channels and partnership sites

Conversion Rate (to paying customer)

ENGAGE

Increase long-term customer engagement and loyalty leading to repeat sales and advocacy.

Regular and modelled email programs needed to segment customers by use and value to company

Personalization messages to signed-in customers

Retention email campaigns

Churn rate

3.10 Marketing strategy

1 Agile approach.

It always comes to a point when marketers should decide which strategy to choose, what instruments to implement. The four major fundamentals of marketing or the four P's (product, price, place, and promotion) has been the same but the input for these fundamentals has changed now. Today the use of new media and channels has become critical leading to insights, real time decision making and other tasks necessary for the firms to survive in competition and to grow on regular basis. The explosive growth of marketing technology also has lead to a huge insight: trying out initial ideas and using outcomes to enhance marketing campaign ("Test, Learn and Commit" loops) is more effective than spending time and money on planning a marketing campaign in detail. According to a survey conducted by Forrester Research, "The traditional annual planning route is ripe for extinction, as 69% of our B2B marketing leaders say that conditions change too quickly to keep plans current."

Thus, in order to execute strategies properly, the marketing leaders need to create a self-sufficient environment which will be suitable within agile framework. Setting such new eco-system will help the company members to understand the consumers' needs and pain points and also let them use the right message at the right moment. Agile marketing responds quickly to the circumstances and takes actions accordingly. All this is quite different from traditional approach, where in the initial stage we produce a marketing plan, implement that plan and further measures the success of the project in the end. Agile marketing is about testing assumptions and monitoring results of small marketing experiments, so that further marketers can adapt or make changes according to the situation demanded.

Initially, agile was the real answer for waterfall approach in the field of software development. Traditional method requires gathering and analysing the data, making decisions according to the users' or clients' requirements. Once data is collected, designers map out the required design. When design is finalized, developers begin the implementation process and further delivery of the product is made to the customer. This entire process is quite time consuming, moreover the requirements of the clients keep on changing and developers are not able to adapt and quickly respond to their needs. In agile approach continuous measuring, reviewing, feedbacks and adaption takes place which helps in keeping things simple. It widens communication gaps and let both the parties to exchange information clearly. Agile marketing has the same concept but the approach is slightly different. Also, considering agile marketing a well-controlled chaos is a myth. On the contrary, Agile is a process-driven & ordered methodology that allows its practitioners to respond to the changes and adapt quickly, in a constantly volatile market.

One of the most used Agile methods is Scrum, which has come from a product development environment. Scrum is ultimately based on what we call Sprint i.e. making continuous efforts for a period of 30 days over fixed goals. During this time experiments are made, feedback is received, adequate changes are made.

Some of the key business benefits of the Agile approach can be seen with the help of diagram which is given below (Figure 5):

Figure 5. Business needs are met with Agility

Some other benefits of Agile approach include:

· Understanding the needs of the customers and unceasingly review of those needs to provide a relevant message

· Iteratively testing campaigns means learning while doing (being more flexible)

· Continuous campaign delivery

This Agile marketing approach is particularly relevant for startups because they do not have enough resources to contribute in a big idea which can simply fail. Thus, Pass24 can use it while running its digital marketing campaigns. For prompt agile (responsive marketing), a good "rule of thumb" needs to be use which is 70:20:10 rule. This rule states that:

o 70% should be planned activity in your marketing efforts.

o 20% should be automated marketing that responds to various actions of the user.

o And 10% of your marketing efforts should completely lie upon Real Time Marketing or agile approach.

With customer interactions constantly changing through your brand relationship, consumer behavior is difficult to predict. New consumer-driven marketing tactics are emerging every week. Therefore, Pass24 strategy over digital marketing needs to be relevant and adaptive. Thus, an effective digital agile strategy covers five major areas i.e. listening, responding, measuring, adapting and anticipating.

Listening

The ability to monitor social media channels in quick time span is always a handy consumer observation tool. Social listening technologies comprises of once ability to observe trends, monitor the brand name and reputation and even motivating consumers to go for particular brand.

Responding

Responding does not only mean replying to the messages of your client or just initiating a conversation. It is something linked with looking over the information provided by the customer. Zappos.com which is the clothing and shoe e-tailor company has been leading its customers through social media channels. The company makes use of popular social media channels like Facebook and Twitter, so that they can solve queries of their customers easily within quick time frame ("Nice kicks!" they responded to one customer who was endlessly happy to get a message from such famous brand).

Adapting

Listening and adapting is basically interconnected with each other. Pizza maker DiGiorno inadvertently used a hashtag associated with domestic violence (#whyistayed) in a recent Twitter marketing campaign, creating a firestorm of bad publicity. Social media these days makes any of such things viral in no time. Therefore, in case of agile marketing, those who can respond quickly can survive easily in the market. Even if there is a case where you have posted anything wrong on social media channel, then there is a need for you to respond even faster as not doing that can lead to disastrous results.

Measuring

Measuring the data plays a vital role for the success of the startup. Digital leaders aggressively use test-and-learn approaches to shape their strategies. Marketing agility allows them to execute quickly and the outcomes of such actions helps them to make new hypothesis, test them and adopt.

Anticipating

Last but not the least in the agile marketing fundamentals comes the anticipating stage. This is the best state for any marketing professional where leaders of market anticipate the needs of their customers. No agile marketing would be complete without robust analytic capabilities which include the necessary tools to analyze the data, creating market segments and other response models.

As was previously stated, agile is a key approach that allows to stay flexible, adjust to new challenges and circumstances. And that is what Pass24 needs according to a current situation.

According to the prescribing marketing objectives, Pass24 should use SEO, Social Media Marketing, paid media, E-mail campaigns in its digital marketing strategy to reach the target of 3000 unique visitors to the website and conversion rate at 2,33% by 31 May 2018.

2 SEO.

Pass24 considers SEO as the main digital marketing channel since it is reasonably effective way to attract new leads. The web-site is not launched yet, and landing page is currently used as a main platform for providing information about the product and tracking leads. Consequently, there are less possibilities to generate content on the landing page which leads to a low page volume. Hence, there is a limited opportunity to rank for keywords. The conceivable solution is to make several new landing pages and launch unique content which is complementary to target persona pain points. As an option, pass24 can consider launching a blog not only about the service itself, but also about new IT solutions in the market particularly for gated communities.

3 Social Media.

People are using social media on a daily basis, which has created an opportunity for companies in this day and age to interact with current and potential customers in a more active and direct manner (Asano).

According to Kaplan and Haenlein everything is about social media today. Social media is a relevant channel to both large multinational companies as well as for non-profit organizations as they are able to reach their target audience no matter of the size of the organization as there is over 10 million monthly active Facebook users in Russia (18% increase year over year).

As it was mentioned in the competition analysis, one of the features of ACS market is avoiding social media activity due to its ineffectiveness.

Pass24 decided to use social media networks (Facebook) as an active marketing channel. After a month of presence in Facebook, the page got 75 followers (in comparison Allgatekeeper has 18) and increased the average number of visits on the landing page by 20%.

The content was a primary problem that Pass24 faced. After completing an audit of all community profiles that can be related to the service, it became clear that user's engagement is the biggest issue in managing pages.

The 1:9:90 rule stands for the principle for online content creation where 90 % of social media platform users are passive or so called "lurkers", 9 % of users contribute time to time as "intermittent contributors", and only 1 % of users participates actively and creates most of the content online called the "heavy contributors".

Pass24 started with a clear message: what the service is about, team's core values and main goals. As a part of an experiment startup decided to launch a "holidays campaign" that was running from 1st to 10th May and was about favourite CEO's recipes. The main message of the campaign was: "think about your ribs, don't waste time on phone calls, use an app". The boost in user's engagement was not obvious, but it showed how Pass24 can use such "unprofessional" content and get decent results (Figure 6).

Facebook provides plenty of publishing tools, adverts support and insights. It allows to examine different types of target audience segments and their reactions. Additionally, it collects expedient statistics, that Pass24 can use to improve its performance (Figure 7 ).

According to statistics provided, the target audience in Facebook consists mostly of women aged 35-44. It confirmed the chosen Persona profile, that was described in target market analysis. Thus, it should continue promoting its Facebook page by posting interesting content, doing cross-marketing with related communities (Appendix 2).

4 Paid Media.

It is clear that content marketing needs to have paid element to get traffic to the website. However, it was confusing for Pass24 to generate content as the only thing that this service provides is managing guests' visits.

As was already mentioned, Pass24 came with an idea of creating several landing pages. It will allow Pass24 to differentiate its content and focus on different target segments. The effectiveness analysis of this experiment will be done by the application of A/B testing. A/B testing is a model which is used for testing the best online promotional and online marketing strategies for businesses. It is used to test several actions from website copy to sales emails and ads. Well planned A/B testing can be a game changer in the effectiveness of online marketing initiatives. Narrowing down and combining the most effective elements of a promotion make online marketing initiatives more profitable and successful.

Pass24 should also focus on social channels, and start retargeting from advanced segments. Launching AdWords campaign on brand terms and non-brand terms will allow to attract new prospects. PPC- pay per click is considered to be a second most important instrument for reaching company's main goal. Creating of adverts in Facebook, Google and Yandex needs to be done as well. And as the startup is using agile marketing approach, it is essential to monitor and measure all marketing initiatives.

5 Emails.

Experts argue that Email marketing delivers far higher sales volumes than social media (2%) or display (1%) when measured by last click attribution.

Thus, we should not underestimate the importance of Email marketing for customer acquisition and retention. In case of Pass24, understanding and testing the latest email options and techniques is essential as the start up wants to remain engaging and competitive.

Most of the customers use their smartphones and tablet devices to read emails either work or personal. There has been a major trend to responsive design over the last three years. But according to the latest statistics of the email reading environment, mobile email use is static, at just over 50%.

So, it is important to provide users with new experiences. Hence, email should contain a clear message, relevant content and has some interactive features. We should also consider that HTML5 now allows videos to play within email. But as this ability hasn't been enabled within all email clients, animated GIFs are more reliable alternative. Such in-email engagement becomes imperative and should be measured using new kind of metrics- "email interactions," which are special opens that are triggered by engaging with interactive email elements.

These trends (responsive design, interactivity, the use of video materials) will be considered while developing email marketing campaign for Pass24.

RACE model that was described in chapter 2, is a good planning system that will be effective in organizing email programmes (Table 5).

Table 5

RACE model: Email-marketing campaign for Pass24.

RACE model

Reach- Exploration

Act- Decision Making

Convert- Purchase

Engage- Advocacy

E-mail programme

Welcome Programme

Activation Programme

Retention Programme/

Referral Programme

Example

Newsletter Welcome message from CEO

Account Created (free trial)

Account Created (paid customer)

Repeat Purchase

Refer a friend

Mental Model (buyers)

What is this service about?

How can it help me?

How can I use it? (The process)

Do I need this?

What can I do that's new?

What else so I need?

System requirements? Docs?

Convince me!

Who is it for?

Who is using it? people like me?

Can I try it?

Are my personal details and data safe?

OK, what's the price?

How can I save?

Do I get any deals?

Do I get any rewards? Fame, access, money?

Message Model

(company key message by stage of buyer)

Is this a problem for companies/ people like me?

What services do you offer that solves my issue/ problem?

Can you show me a solution in action?

How are you better?

Am I making the right move in using you?

What do experts say about your brand?

What is the impact on my reputation to use you again and refer to you?

What do I gain from it? Do I get rewarded?

Emotional

Entertain

Competitions, branded videos, widgets, articles

Inspire Reviews, community forums, events, ratings

Rational

Educate

Articles, infographics, press releases, guides, trend reports, demo videos, reports and papers

Convince Product features, case studies, data sheet and price guide, calculations, webinars, checklists, interactive demos, reports, events, ratings

Key metrics

#newsletter subscriptions

# of downloads

CTR, unsubscribe rates, open rates

Conversion rate - free trial customer

Conversion rate - paid customer

CTR, unsubscribe rates, open rates

Virality- word of mouth, sharing per visitor

Revenue per customer

CTR, unsubscribe rates, open rates

To reach company's goal, email marketing campaign should include following programmes:

1. Welcome programme: these series of emails contain information about the product and aim to (1) educate the customer about the solution, describe the service provided (for new leads), (2) welcome new users to the team (for customers, subscribed to a free trial).

2. Activation programme mostly addresses hot leads (customers who are aware of the product and consider signing up for a free trial), but also aims to convert those in pilot zone into paying clients.

3. Retention programme includes attractive price offers, special packages etc. The goal is to make customers "referring to a friend".

To make the best of email marketing campaign Pass24 should use visuals (infographics, videos, guides) and generate valuable content (articles, trend reports).

3.11 Metrics

The outcomes of all marketing digital campaigns should be continuously measured as it may have a huge impact on the startup's success. Thus Pass24 should be able to adopt, review its objectives and correct the current strategy. Moreover, KPI dashboard is required to set the right targets and possible milestones to track its performance.

The author will use following metrics:

o Monthly Recurring Revenue (MRR) = Number of existing customers x Average Revenue per Customer

o Churn rate = (Customers lost this month / all customers at the beginning of the month) x 100

o Customer Acquisition Cost (CAC) = Marketing cost / the number of new customers

o Conversion rate = (The number of leads / Visitors) x 100

Implementing RACE planning framework to the KPI dashboard helped to organize information and make a clear connection with the main objectives and strategies of Pass24. Following table provides the main company's goals for the next 6 months according to its digital marketing strategy (Table 6).

Table 6

KPI dashboard

Plan

Funnel Metrics

May

June

July

Aug

Sep

Oct

Vistors to Web Site

500

800

1 000

1 200

1 400

1 600

Conversion from Visitors to Trials

6,0%

5,0%

5,0%

4,2%

2,9%

1,9%

Sign up to Free Trials

30

40

50

50

40

30

Conversion from Trials to Purchase (see Act)

16,67%

87,50%

90,00%

90,00%

87,50%

83,33%

Paying Customers

5

35

70

115

160

195

Reach

Traffic

May

June

July

Aug

Sep

Oct

SEO - organic

100

200

300

400

400

450

PPC- AdWords

50

140

150

200

200

250

Social Media

30

30

40

40

40

50

Campaigns

20

80

100

100

180

250

Unique visitors

300

350

410

460

580

600

Total Visitors

500

800

1 000

1 200

1 400

1 600

Act

Events and Sign ups

May

June

July

Aug

Sep

Oct

Total Number of Events

5 000

6 000

7 000

8 000

9 000

10 000

Total Number of Free Trials

30

40

50

50

40

30

Conversion rate

6,00%

5,00%

5,00%

4,17%

2,86%

1,88%

Paying Customers

May

June

July

Aug

Sep

Oct

Total Number of new acquisitions

5

35

45

45

35

25

Conversion Rate

16,67%

87,50%

90,00%

90,00%

87,50%

83,33%

Total New Revenue

37500

262500

337500

337500

262500

187500

Average Deal Size

7 500

7 500

7 500

7 500

7 500

7 500

MRR

May

June

July

Aug

Sep

Oct

Convert

New MRR

37500

262500

337500

337500

262500

187500

Churned MRR

0

37 500

37 500

37 500

37 500

37 500

Net New MRR

37 500

300000

375000

375000

300000

225000

Churn Metrics

May

June

July

Aug

Sep

Oct

# of new Customers

30

40

50

50

40

30

# of churned Customers

-

5

5

5

5

5

Net New Customers

30

35

45

45

35

25

Total # of Customers

30

65

110

155

190

215

Churn rate

0,00%

12,50%

12,50%

12,50%

12,50%

12,50%

Engage

Marketing Spend

68750

68750

68750

68750

68750

68750

Revenue

37500

262500

525000

862500

1,200000

1,462500

CAC

2292

1719

1375

1375

1719

2292

There is a need to mention that the total number of visitors on the website should grow continuously despite the seasonal demand (it is lower during late autumn and winter). By the end of July Pass24 is planning to obtain 70 paying customers. Marketing spend is constant and comprises 25% of assumed annual revenue divided by 12 months. The cost for attracting one client is around 1795 RUB each month. A churn rate is expected to be at 12,5% on average. Monthly recurring revenue (MRR) is income that a company can reliably anticipate every 30 days, including the average deal size is 7500 RUB and the number of clients each month. The following graphs show how digital marketing channels should be used during the year year (Figure 8).

Figure 8. KPI graphs

Conclusion

In this paper author proposed a theoretical framework that can be applied to developing marketing plan for Pass24. The aim of Pass24 is to acquire an online marketing strategy which will enable the company to get new customers as a result of smart and efficient online marketing initiatives that were discussed in Chapter 3. Overall Pass24 should focus on implementing SEO and PPC strategy to attract new prospects. It is assumed that following proposed digital strategy and using agile approach will provide Pass24 with 3000 unique visitors to the website and a conversion rate at 2,33%.

Some following recommendations can be applied to the current marketing strategy:

1. Using social media channel as a main way to contact with end-users, provide support, get feedback

2. Creation of several landing pages that target different audience

3. Relevent content posting

4. Launching a website

5. Implementing 3 levels of e-mail marketing campaigns to interract with different groups of clients efficiently (leads, hot leads, paying clients).

References

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2. Court David, Elzinga Dave, Mulder Susan (2009), "The Consumer Decision Journey", McKinsey Quarterly - June 2009

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4. Hogan S., Almquist E., Glynn S.E. (2005), "Brand-building: Finding the touchpoints that count ", Journal of Business Strategy, 26 (2), pp. 11-18.

5. Importance of Theory. (2013). Retrieved from Koleksyon: http://koleksyon-inip.org/the-importance-of-theory/

6. Kannan, P.K., & Li, H. "A." (2016), Digital marketing: A framework, review and research agenda, International Journal of Research in Marketing

7. Kaplan A.M. (2012): "If you love something, let it go mobile: Mobile marketing and mobile social media 4x4", Business horizons, 55 (2), 129-139.

8. Kaplan A.M. (2010): "Users of the world, unite! The challenges and opportunities of Social Media", Business horizons, 53 (1), 59-68

9. Kaushik, A. (2015) "See Think Do Care win content marketing measurement".//URL: https://www.kaushik.net/avinash/see-think-do-care-win-content-marketing-measurement/ Now updated [Accessed 5 May 2017].

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12. Moore, Geoffrey A. Crossing the Chasm: Marketing and Selling Technology Products to Mainstream Customers. New York, N.Y.: HarperBusiness,1991, Print.

13. Nahai, N. (2012). Webs of Influence: the psychologt of online persuasion.

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https://www.sas.com/en_ca/insights/articles/marketing/five-steps-to-agile-digital-marketing.html, Now updated [Accessed 2 May 2017].

23. Suzanne Hogan, E. A. (2005). Brand- building: finding the touchpoints that count.

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Appendices

1. KPI dashboard for second half of the year

Plan

Funnel Metrics

Nov

Dec

Jan

Feb

Mar

Apr

May

Vistors to Web Site

1 800

2 000

2 200

2 400

2 600

2 800

3 000

Conversion from Visitors to Trials

1,7%

1,5%

1,4%

1,7%

1,9%

2,1%

2,33%

Sign up to Free Trials

30

30

30

40

50

60

70

Conversion from Trials to Purchase (see Act)

83,33%

83,33%

83,33%

87,50%

90,00%

91,67%

92,86%

Paying Customers

220

245

270

295

330

380

440

Reach

Traffic

Nov

Dec

Jan

Feb

Mar

Apr

May

SEO - organic

550

550

600

650

700

700

800

PPC- adwords

250

250

300

400

500

650

700

Social Media

50

100

50

100

100

70

70

Campaigns

300

400

500

500

550

580

600

Unique visitors

650

700

750

750

750

800

830

Total Visitors

1 800

2 000

2 200

2 400

2 600

2 800

3 000

Act

Events and Sign ups

Nov

Dec

Jan

Feb

Mar

Apr

May

Total Number of Events

10 000

12 000

14 000

15 000

18 000

20 000

25 000

Total Number of Free Trials

30

30

30

40

50

60

70

Conversion rate

1,67%

1,50%

1,36%

1,67%

1,92%

2,14%

2,33%

Paying Customers

Nov

Dec

Jan

Feb

Mar

Apr

May

Total Number of new acquisitions

25

25

25

35

45

55

65

Conversion Rate

83,33%

83,33%

83,33%

87,50%

90,00%

91,67%

92,86%

Total New Revenue

187500

187500

187500

262500

337500

412500

487500

Average Deal Size

7 500

7 500

7 500

7 500

7 500

7 500

7 500

MRR

Nov

Dec

Jan

Feb

Mar

Apr

May

Convert

New MRR

187500

187500

187500

262500

337500

412500

487500

Churned MRR

37 500

37 500

37 500

37 500

0

0

0

Net New MRR

225000

225000

225000

300000

337500

412500

487 500

Churn Metrics

Nov

Dec

Jan

Feb

Mar

Apr

May

# of new Customers

30

30

30

40

50

60

70

# of churned Customers

5

5

5

5

-

-

-

Net New Customers

25

25

25

35

50

60

70

Total # of Customers

240

265

290

325

375

435

505

Churn rate

12,50%

12,50%

12,50%

12,50%

0,00%

0,00%

0,00%

Engage

Marketing Spend

68750

68750

68750

68750

68750

68750

825 000

Revenue

1,650000

1837500

2,025000

2,212500

2,475000

2,850000

3,300000

CAC

2 750

2 750

2 750

1 964

1 528

1 250

982

Notes: Traffic data is taken from Google analytics.

2. Content plan for Facebook

День

Дата

Тема

Идея

среда

05.04.17

Ценности pass 24

Мы в команде pass24 придерживаемся

четверг

06.04.17

картинка ждун

вы все еще ждете свой пропуск?

Наши партнеры

Осветить сотрудничество с gate

пятница

07.04.17

для кого pass24?

суббота

08.04.17

инфографика

статистика, сколько времени тратят на пропуска без приложения и с приложением. суммарное время ожидания у кпп равно 120000 минут

воскресенье

09.04.17

вербное воскресенье? Весна пришла, а вы уже заказали пропуск для своих гостей?

проводите время за шашлыком а не в ожидании пропуска

понедельник

10.04.17

обновление?

обновление приложения

среда

12.04.17

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день обучения по гейту

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топ 5 способов сделать ук счастливым

чего хотят жители?

понедельник

17.04.17

инфографика, критерии иновационности КП

а ваш поселок подходит под это описание, smart hills, 7 вопросов-интервью

четверг

20.04.17

уже с нами

те поселки которые уже работают с нашей системой, SUPPORT

понедельник

24.04.17

специальное предложение для дачных поселков

поскольку основной наплыв в летние месяцы

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26.04.17

а у вас все готово к приезду гостей?

эмоциональная картинка

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28.04.17

Активно готовимся к дачному сезону

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в каждый выходной день приезжает определенный гость (теща, итд), запланируй пропуска заранее, используя шаблоны

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рецепты от CEO

рецепт мяса/соуса, проведи время за готовкой мяса, а не за звонками на охрану

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05.05.17

5 причин почему вы выбираете пасс 24

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рецепты от CEO

рецепт мяса/соуса, проведи время за готовкой мяса, а не за звонками на охрану

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рецепты от CEO

рецепт мяса/соуса, проведи время за готовкой мяса, а не за звонками на охрану

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барбекю

Время готовиться к выходным

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UPD приложения

Push notifications

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Отзыв

Интервью smart hills

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обновление

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25.05.17

инфографика

Работа с СНТ

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видео

Британика поселок

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инфографика

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