Why do tech companies need a clearly defined marketing strategy?
How can businesses reach the right buyers in a landscape that continues to evolve and grow?
Whether scaling an existing revenue base, or disrupting a market with a new tech innovation or business model, cutting through highly competitive markets requires a well thought out strategy.
Once this strategy has been defined, it also needs to be executed in a structured, measurable approach.
Hit and hope won’t cut it, especially as more and more businesses realise the full potential of digital and traditional channels.
Getting your key messages with the necessary reach to the relevant audiences must come from a well-researched and targeted approach. For rapidly growing tech companies, this timing and messaging is key – it could mean the difference between hooking buyers or losing out to competitors.
So, what should tech companies be looking for in a marketing strategy?
Strategy, direction, and definition
Many scaling companies are forced to leave considering a marketing strategy behind to hit near-term targets, maintain delivery, and overcome unexpected obstacles hurled at them.
But viewing a clearly defined marketing strategy as an afterthought or a luxury will usually mean that businesses are not maximising the full opportunity for their products and services.
Without a clear strategy, benefits that your product and service can provide with maximum reach are unlikely to be realised. As an essential component of any business, the right marketing strategy can provide:
- Greater visibility of market opportunities
- A scalable roadmap for development
- Access to a suite of digital tools
- Definition of your target buyers
- Clear articulation of your value proposition
- The chance to harness an external viewpoint
A great marketing strategy doesn’t just help drive lead generation, it can also help support communications within a business across team functions, as well as communicate business value to the broader marketplace of potential investors and possible acquirers.
To develop a successful strategy, businesses need to first conduct extensive research and understand not just their current positioning, but their competitors, goals, buyer circles, personas, messaging, and much more.
For your teams, this definition is invaluable in understanding their targets and both short and long-term goals.
A scalable roadmap for development
It’s true that marketing is instrumental to encouraging a business’s growth, but it also goes far deeper.
A long-term marketing strategy can provide a scalable infrastructure that grows alongside a growing business, ensuring that the strategy translates into a well-structured plan for execution. Introducing resources to test and modify campaigns and govern the use of reporting tools and KPIs should follow on from the build of the marketing strategy.
Access to a suite of ever-evolving digital tools
With the increasing utilisation of software tools to aid in the execution of a marketing strategy, key consideration should be given to the toolsets that are utilised. From flexible cloud-based CRMs to SEO toolkits, campaign management and measurement applications, as well as AI capabilities for better audience targeting, there are a wealth of systems designed for maximum effectiveness of marketing strategy execution.
With a blueprint for the future and the confidence to rally behind a mission, teams are more confident than ever to reach their goals and continue developing.
Accurately define and utilise your buyer profiles
With a well-structured strategy, your campaigns will be tailored for each platform, channel, and audience, targeting your key buyers and delivering greater meaning on a more personal and effective level.
As a result, you can more effectively pursue leads, track conversions, reach new potential partners, and strengthen existing revenue streams.
Marketing campaigns are your chance to extend your reach and build brand awareness. Correctly tailor your marketing activity, and your reputation and your commercial growth will thank you.
Clear articulation of your value proposition
Make sure your audience can understand your value at-a-glance.
Your team might understand the importance of parallel processing or implementing ETL structures, but what about your audience/investors?
With the tech landscape constantly advancing and new innovations coming out every day, it seems that your target audience might be unable to interpret your value if it’s hidden behind layers of technical jargon.
A clear marketing strategy can leverage audience-specific approaches to transform your offering. When reading bespoke messaging, tailored to their knowledge or pain points, prospects will better relate to your unique selling points.
This matters now more than ever, as the tech market becomes increasingly competitive, and the margin for error draws ever finer.
The chance to harness an external viewpoint
So, you’re convinced that you need a strategy, you’ve got three months to build one, and you’re ready to get started. Now what?
Developing a marketing strategy is time-consuming, resource-extensive, and bespoke to each business. For tech companies struggling to meet ongoing challenges without marketing, how can they expect to take on this crucial, but demanding, project?
Outsourcing your strategy to marketing specialists is a great solution. Learn more about outsourcing here.
Not only do these specialists have access to the experience and tools necessary to make sure you hit the ground running, but they can also provide the all-important external perspective. Through our experience in delivering impactful campaigns across a range of tech markets, we’ve developed the EVOLVE model:
E – Evaluate: We begin by evaluating your current position through multi-faceted audits
V – Value: Defining your value proposition and creating a strategy aligned to your audience’s needs
O – Operate: We’ll implement a scalable marketing strategy in line with pre-defined goals.
L – Leverage: With a focus on consistent communication, we’ll leverage your greatest assets.
V – Validate: With a built-in review cycle, we can focus on attaining maximum growth
E – Enhance: Focusing on data, analytics, and insight, we can empower continuous improvements
If you do choose the outsourced route, ensure that you get recommendations and look at any available case studies. Know who you’ll be partnering with and their processes, as they’ll potentially be inputting into years of growth.
Begin building your strategy today
At EV, developing market-leading strategies is what we do.
To accelerate your growth, define your brand direction, introduce a greater environment for collaboration, and source new opportunities, get in touch for a free consultation and audit here.
Still not sure? Take a look at our previous customer success stories here.