In today's fast moving world, find out why you need a startup marketing strategy, rather than tactics – no matter what anyone tells you
Why You Need a Startup Marketing Strategy – Not More Tactics
After experiencing an industry problem first-hand, rather than sitting around and complaining about it, you created a solution – your startup. Congratulations! You have joined the long list of tech entrepreneurs who have dared to take the untrodden path.
However, embarking on your own tech startup journey is not as easy or as glamorous as it sounds. The scale of the mountain you must climb can quickly become overwhelming, especially when you are carrying the weight of the world on your shoulders too.
You'll feel under attack as you’re constantly told that half of all new companies fail within four years and that the vast majority of startups have no real sense of direction. When approaching the thorny subject of marketing, many founders are also understandably anxious.
The problem is that although startups are about bringing unique solutions and value into the world, many still insist on using the latest marketing tech or tactics rather than creating an effective strategy. Optimising your website and getting visitors signed up to your email marketing list in exchange for a free e-book is a great start. But it's hardly revolutionary is it?
Having a shiny new website and sending a generic monthly email – one that’s not tailored to the specific needs of your prospects and their stage in the buying journey – is never going to make your company truly stand out from the crowd.
"You need a well-thought-out strategy to drive your business forward"
If you delve a little deeper, it quickly becomes apparent that you need a well-thought-out strategy to drive your business forward, rather than the immediacy of ill-conceived tactics.
It's easy to let procrastination settle in and buckle under the pressure of it all. But it's crucial to remember that despite what you may read, behind every overnight success sensation there is often a ten-year story.
Much of the fear, uncertainty, and doubt that you are feeling is natural, but relatively easy to overcome by focusing clearly on how you will plan, build and grow your business.Driving Revenue Growth
Without incoming revenue, you only have costs. And those costs can easily spiral out of control. We've all read stories from Silicon Valley where a unicorn startup such as Snapchat can lose $515 million a year and still be worth $25 billion.
But does it really work like this?
Unfortunately, there are no shortcuts to success, and fixating on the latest gimmick or tactic will only slow you down. Aimlessly writing blogs, sending emails, and updating your social media channels without any meaningful strategy will also limit your progress and sap your energy, your resources and your will to live. It will grind your growth to a halt.
We believe that by following a simple 6-step process to creating a powerul marketing strategy, you can join the fastest-growing tech startups by generating high-quality leads and driving sustainable revenue growth.
Thankfully, the days where the loudest voice in the meeting room determined the next steps are gone, or at least they should be. With a wealth of analytics and information at your fingertips, strategic decisions are the new currency.
The challenges that need to be overcome to secure funding at each stage of the startup journey are all unique. However, the one constant is the need to attract customers, drive sales, and grow revenue at every step of the funding process.
Whatever the stage of the funding process, the rules of the game will, in essence, be the same. Unforgiving investors will expect you to meet a variety of performance metrics and delivery milestones to illustrate growth and scale.
"It is imperative that reliable data be available and reported"
Metric-driven performance data will help you unlock the reporting and optimisation techniques to level-up the next round of funding. For these reasons alone, it is imperative that reliable data be available and reported in the correct format to show both past progress and future potential.
The inability to scale a business is one of the most common traps that entrepreneurs fall into.
If there is no plan to upscale your business in the next 1-3 years, you will struggle to progress to the next funding round. As the founder of a startup, you need to upgrade your mindset to think big or go home and accept no substitute. However, to get there, you will need to plan – build – grow.
Engagement and sales are crucial to accelerating the growth and scale of your startup. Both of these elements will enable you to optimise your marketing campaigns and website performance.
"A systematic approach to revenue generation is the key"
A systematic approach to revenue generation that consists of planning, prioritising, and having a continuous-improvement mindset will also encourage greater collaboration and increase deliverables. The result will be tangible results that not only build scalability but enable you to prove it to investors.
Delivering on a Budget
The fear of failure will undoubtedly be what keeps you awake at night. Rather than accept that a lack of focus on the critical things caused the inevitable, many prefer to go with bad luck or even blame each other. There is also an alternative belief that startups don’t die, they commit suicide.
“Don't fail. Learn."
The reality is that failure is a significant factor in startup life. But it doesn’t have to be. As a wise person once said, “I don't fail, I learn.” By paying close attention to all of the details above, you can get into the habit of under-promising and over-delivering rather than the other way around.
Once again, a startup marketing specialist who has traveled this road many times before will tell you that planning is the quickest route to success.
When you’re budget-limited, you need to be so much smarter about your strategy and your choice of tactics - whether they be inbound marketing, account based marketing or content marketing, to ensure you stay on track and are not distracted.
Over to You
At the beginning of this post, we likened your tech startup journey to climbing a mountain. In many ways it is slightly reminiscent of George Clooney's backpack speech in “Up in the Air” when he said the words, “How much does your life weigh? Imagine for a second that you’re carrying a backpack. I want you to pack it with all the stuff that you have in your life.”
It's easy to see why you were feeling the pressure, and that it felt like you were carrying the weight of the world on your shoulders. However, can you imagine the relief of putting the backpack down and working with a startup marketing expert who has been here before and will carry that bag for you? Feels good, right?
We'd love to help you on your tech startup journey so feel free to get in touch.