There would always be room for breakthrough tech products or services. But even with the non-stop advancements and innovations, there are still many demands and problems that are waiting to be satisfied and solved.
This large piece of pie is an incredible opportunity for tech start-ups. But it appears that even with this opportunity, many tech start-ups have failed to launch correctly because of some marketing mistakes. Some flew halfway, while some didn’t even fly at all.
Surely, they’ve done something wrong that made their venture quite unsuccessful. But on the plus side, we could pick up something from these marketing mistakes and make better decisions on our next tech venture.
Read on and let us learn from these 3 marketing mistakes.
Making Media Exposure A Priority
Many founders have this illusion that media exposure is the key to reach fame instantly – and turn it into cash, of course. This step would only work if you already have a great product at hand and customers ready to purchase it. It’s not ideal to chase media exposure while you’re still figuring out how you can make sense of your product and finding a market for it.
Media can only catapult your product instantly if it already possesses a strong foundation.
What strong foundations are these?
First, it must serve a need or a demand. Second, it must deliver tangible value to your target market. Third, you must continuously improve your product and brand.
Tech start-ups are meant to produce valuable products and services, not to be merely exposed in media outfits.
Fast-Paced Connecting
An audience made up of just media-consumers may not sound like a solid foundation for a tech-start-up. Aggressive marketing and networking have a great chance of amassing a broad audience. But with this strategy, founders miss an essential thing: relationship with customers.
Founders are often thrilled to expand that they forget the fundamental factors that must be established first. Customer loyalty, above all else, proves that your product has something great to deliver. And with all the plethora of products and services stacked against you, it will be too hard to develop this kind of loyalty.
That’s why you need to double (or even triple) your efforts to develop a relationship with customers to gain their loyalty.
Compared to aggressive marketing, developing customer loyalty will take time, and can only initially serve a smaller audience. But looking on a longer-term, a product with strong customer loyalty can certainly withstand an aggressive competition.
Being Everywhere Anytime
Being everywhere will lead you to nowhere. It seems a good idea for a tech start-up to be on every platform to gain more customers –but it isn’t.
Founders should know right from the very start the specific audience or demographics they want to serve. This will enable them to narrow down specific platforms where their target audience is spending most of their time. In the long run, this will save them a lot of time and money.
Conclusion
Tech start-ups have lots of opportunities at their disposal. There are demands and needs to exploit and countless mediums to expand and gain customers. But it’s not the vast pool of opportunities that can catapult a business; it is choosing the right opportunity — the opportunity to develop their products. It all boils down to a great product. If a product is refined enough to deliver real value to people, then there’s no way it won’t be a success.
Also read: 6 Marketing Tactics That Are Not So 2019