The Most Essential Thing Founders Miss When Starting a Tech Startup
A revolutionary idea is the first step toward success as a tech startup. Ambition, drive, and technical know-how will get you so far, but what do you know about tech startup marketing techniques?
Marketing is way more important than most founders realize. "If you build it, they will come" is not a strategy for success unless you have a dedicated, experienced team telling the world what you built and why.
Why Is Startup Marketing So Important?
Unfortunately, 20% of startups fold after just one year. The primary reason is money running out, so it's understandable why some founders shy away from investing in startup marketing. However, the next biggest reason for failed startups is a failure to market correctly. This includes targeting the wrong demographics, failing to research user pain points, or not considering product-market fit.
A well-defined marketing strategy that covers the next 12 months can see you through even the toughest financial times. 63% of businesses say they're putting more money into digital marketing this year. To remain competitive, new tech ventures need to onboard marketing expertise fast to ensure they're making the right moves at the right time.
Learn From Others' Mistakes
Even well-established companies get marketing wrong. Remember the Microsoft Zune? If you don't, you're not the only one. The Zune was a portable media player aimed at giving Apple a run for its money. Microsoft, however, failed to respect that Apple had cornered the market with the iPod. Despite ongoing device issues and terrible sales, Microsoft simply kept plugging new versions of the Zune until finally giving up in 2011.
Microsoft failed to consider product-market fit and relied on brand recognition alone to compete in an already saturated market. New businesses rarely have the same level of visibility, so they must consider startup marketing an essential investment to cut through the noise.
Creating a Great Team
Even as a funded startup, spending a huge amount of your budget on full-time marketing hires can be tricky to justify to stakeholders. That's why so many savvy businesses employ marketers on an "on-demand" basis. These marketers come in when it's time to launch a product, when you need additional support, or even to fill the gap while you search for the perfect full-time staff member.
Whether you choose an in-house marketing team or work with freelancers/contractors, you need to make sure your marketing team:
Understands your industry
Can show results working with previous tech startups
Is excited about your product or service
Adapts quickly to changes in the market and adopts emerging technologies for digital marketing
Your marketing team is a connection between your vision and your user base. Work closely with them to understand what your customers love and what you could do better.
Final Word
Not all tech company founders understand startup marketing—and that's okay! Book your 15-minute introductory call with a team member and find out how to onboard marketing experts that are there exactly when you need them.
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