Software & Technology Companies
The Road to Success: Inbound marketing lays a digital pathway for rapid business growth
Young technology companies are constrained by a number of business and market factors. Most tech companies have low budgets for marketing and little insight on where it is best spent. Not committing enough time and resources to marketing is often the reason tech companies fail to generate leads. Partnering with an inbound marketing agency can be the competitive edge that drives business growth.
Drivers of Success for a technology company
Customer Acquisition: Spread Brand Awareness and Early Revenue Generation
Startups usually have to face a cash crunch in their early stages. Building a strong marketing foundation to jumpstart revenue generation is an area that needs focused efforts. Key aspects that need attention:
- Fixing upon a value proposition and brand message
- Creation of Buyer persona and Mapping the Buyers journey
- Making A Simple and Responsive Website
- Scripting an Easy and Clear Conversion Path
- Designing Strategy and Campaigns for Demand generation
Customer Retention – Contextual Marketing and Brand Advocacy
After a company reaches the break-even state and achieves brand recognition in a particular industry, its focus need to reorient to enhancing its market share and chart out a sustainable growth path. During the Growth stage, companies need to work on delivering a superior customer experience to ensure retention and to encourage brand advocacy. To accomplish this:
- Prepare a Content Marketing Plan for building more brand awareness and brand loyalty
- Employ Marketing automation for better lead tracking and conversion optimization.
- Social Proof through customer and independent reviews to lower cost of new customer acquisition.
- Achieving a thought leader status in order to establish trust and credibility with a larger audience.
Monetize and Increase Average Spend from Each Customer – Aim for Market leadership
Once you have a significant share of the market, sustain growth through new product launches and partnerships with market leaders. Focus on retaining brand reputation and incremental growth in revenues. The Final Goalpost:
- Fully aligned marketing and sales teams that work symbiotically.
- Building social reputation across social networks and industry forums.
- Continuous growth in marketing KPIs and other performance metrics.