The best entrepreneurs know that they can’t sit still if they want to succeed.
Especially in markets like technology, where the environment moves at such a rapid pace, agility and proactive change are must-have business approaches. That’s why company a brand, commercial or technology marketing strategy should always be developed – and improved.
This could come in the form of a complete makeover (think new year, new me) or a more subtle pivot of your current approach. It really depends on why you’ve chosen to evolve and what your objectives are.
Here are some common reasons you may be considering a new marketing or brand strategy.
Reasons to evolve your technology marketing strategy
Positioning to scale
Most businesses reach a stage where they have achieved, or neared, their goals and now they want to move to their next phase of growth. This is often the time when new brand, commercial and marketing strategies are needed. Ones focused on expanding activity, reaching wider audiences, and accelerating growth in a way that works for the business long-term.
Positioning to sell
Positioning your company to sell, especially if you have specific targets in mind, needs the support of a strong marketing strategy. This will help form, progress, and even accelerate your business exit strategy by focusing your positioning to attract buyers.
Companies in the scale-up stage are generally always thinking about funding. There may, however, come a time when this is a more proactive pursuit, designed to support your move to the next phase of growth, and you want to restructure your marketing strategy accordingly.
Preparing to pitch
Similar to above, you may need a strategic refresh or refinement while you prepare to pitch to investors. This is a natural stage of strategic progression, forcing you to evaluate your company through an outsider’s perspective.
A strategic repositioning could be prompted by several things. It could be that the market has grown competitive, and it’s an adapt or die situation, or your business has established a new strategic objective. For example, to break into a new market, gain a new audience, or to hit a new revenue target.
New product launch
Even the most established companies will need a dedicated brand, commercial and marketing strategy when launching a new product or service. It could be an extension of your existing offering, like the Microsoft Office suite products, or have an independent value or audience, like Huawei’s Telecoms solutions vs Huawei’s Smart Mining solutions, or their consumer vs business products.
Common fears, alleviated
It’s just a new skin and nothing will change
This is only a possibility for strategies or rebrands executed without purpose. Simply ensure your technology marketing strategy work is rooted in specific goals, as shown above. Creating a solid go-to-market implementation plan for your strategy will also help progress real change.
It represents a failing business
Unfortunately, sometimes this is true – take IBM as an example – but it shouldn’t be a barrier. The worry is that this situation will be reflected to your audience and perpetuate the problem. But once again, if you remain authentic to your USPs and listen to your audience while you evolve, you’ll reap positive results.
I’ll lose my current audience
A strategic shake up can reignite people’s interest. The research produced in this process can also help you improve communication with your existing audience.
It won’t feel like ‘us’
This is always a fear when evolving that the company strategy will lose authenticity in favour of ‘what sells’. However, a strategy that’s based on genuine performance evaluation, internal audits, employee feedback, and data should simply help you uncover your unique value.
Outsourced marketing strategy
Having a marketing expert lead your strategic evolution can provide valuable insight and an objective perspective, guided by industry knowledge. If you’re interested in evolving your marketing strategy, explore our strategy and go-to-market package here.
Explore more of our thoughts and advice on marketing strategies (and more) in our blog section.