Series: Tech startup success – Part III: Mastering marketing and sales
Welcome to the latest instalment of our entrepreneurial series. Here, we’ll look at the relationship between marketing and sales.
It’s often said that a great product sells itself, and while there’s certainly some truth to this adage, it’s far from the whole story.
A great offering is a fantastic starting point, but there’s plenty more work to do. You need to get that offering in front of the right people, at the right time, for the right price. But how? With a well-planned marketing strategy.
Let’s take a look at what that entails.
Outline your aims: Any great strategy begins with an end in sight. That is to say, the first step is to clearly define your goals. It could be as simple as “sell more”, but the most effective strategies are often based on more granular targets. Do you want to raise awareness of a certain product or promotion? Are you looking to reach a particular audience? Or are you looking to take your offering into a new field? Whatever your aim, make sure it’s crystal clear from the outset.
Find your audience: There are two strands to this step. First, you must establish what your perfect customer looks like – their age, gender, interests, spending power and more. With this determined, you can now develop the best strategy to communicate with them. What kind of marketing are they likely to respond to? What channel, style, and tone of voice would resonate best with them?
Nurture, nurture, nurture: A great marketing strategy doesn’t end the moment you engage with a potential customer. Marketing and sales must now work hand in hand to nurture potential leads to the point of purchase. Use personalised messaging and timely content to add value to your audience. That way, as soon as they’re ready to buy, yours will be the first name that springs to mind.
Aim to retain: It costs far less to retain a customer than it does to find a new one. So, make you sure you build a retention plan into your marketing strategy. Aim to market your wares to your current customers with just as much enthusiasm as you would a prospect. Continue to add value, engage them with useful and personalised content, and be on the lookout for opportunities to up- and cross-sell.
The strategy that’s right for your business will depend on your industry, your product or service, and your audience. But by following the advice above, and tailoring it to your environment, you’ll soon have your offering in front of the people who count – your potential customers.
That wraps up this week’s tech startup success series. Next time we’ll look at how you can develop a head for figures – and why it’s a must for any CEO.