Okay… we get it… you’re a small- to medium-sized technology business with limited financial resources and you’ve probably been told repeatedly by people supposedly “in the know” that you need to market your business.
You are probably asking yourself “Why do I need a marketing strategy… and how will it really benefit my business?”
As founder and CEO of ROAR Marketing Concepts, a marketing consultancy that delivers predictable, repeatable and scalable revenue growth to the technology sector, I’ve been educating and advising business owners on this question for many years and I want to put forth three fundamental reasons why YOUR business needs a comprehensive marketing strategy. But first, let’s take a look at what some experts say…
Jenna Gross, CMO of Moving Targets, a veteran digital marketing firm, states in a recent article that developing a marketing strategy is one of the most important things a business can do. Not only do marketing initiatives build brand awareness but they can be directly related to improved customer engagement which leads to business growth. She goes on to state that there are so many core business functions that stem from a good marketing strategy that any firm would be at a serious disadvantage if they didn’t make the investment.
If you need further proof, Chris Haroun, writing for Inc. magazine, says that having a marketing strategy is more important that even having a ‘killer’ product. He reminds his readers of the days when we used to talk about the type of processor we had in our computers. Fast forward to today, nobody really cares or knows anymore what processor our iPads or iPhones or laptops or Samsung products have. Haroun concludes that a superb marketing strategy almost always beats great products; this trend exists in the technology sector, the clothing market, academics and even in politics.
Still not convinced? Here are three “concrete” reasons why your business needs a comprehensive marketing strategy:
- Engage Customer Prospects: as you engage with new customer prospects, you will need to offer value and information at each step in the buying process (i.e., your value proposition, your commitment to a target market, and your competitive advantage.) A marketing strategy allows you to map out and define this value.
- Get Noticed: in today’s digital age, consumers are bombarded with information daily and it is becoming increasingly difficult for businesses to ‘stand out’ and capture the interest and attention of their target market. Having a well thought-out marketing strategy will overcome this obstacle.
- Communicate Your Business’s Unique Value: customers are always searching for viable solutions to their business problems… and they’re willing to pay for value. Having a marketing strategy enables you to translate your business’s unique value into a language that your customer can understand and appreciate.
It’s a well-known fact that businesses that take marketing seriously are businesses that grow… and grow profitably. It’s time to get on board now!