Many technology companies still rely on the traditional methods of advertising to grow their business such as with word of mouth referrals and trade show attendance. While traditional marketing is still important for the success of any business, digital marketing has taken the leading role. If you don’t keep up with this trend now, your company won’t survive in the future.
This is particularly true for tech and SaaS companies. By using a digital technology marketing strategy, tech companies can outpace traditional competitors, generate more revenue more quickly, and stay competitive over the long-run. Interested in how this works? Then read the sections below.
Technology marketing refers to the application of digital marketing strategies to help tech companies achieve their business goals. Whether you want to attract more prospects, convince your current customers to buy new products or position yourself as an authority in your product niche, digital marketing will help you get there.
Technology marketing goes beyond just a website with an about page. It entails consistently producing engaging content that your audience will love and then share with those around them. This engaging content includes everything from animated videos explaining the benefits of your products, to animated infographics about how to use your products, and blog articles with effective CTAs. It might also involve creating an email marketing strategy as well as social media campaigns. Overall, the right technology marketing strategy is what transforms a startup into a global company with dedicated followers.
Why is technology marketing so useful? Why do you need to have the right strategy to get a higher ROI? Here are a few of the advantages.
Building credibility is one of the most effective ways to get new customers. This can be done by providing informational content about tech products to the right audience in a consistent manner. All customers love someone who helps them make the best buying decision. That’s the point of customer service. While in a restaurant customer service means helping to choose what you want to eat and providing it in the right order, creating useful content plays the same role in the marketing world.
When you develop a dedicated digital marketing strategy, you get to interact with clients on a personal basis and learn about their pain points. You can use these pain points to improve the features of your next tech product. You can also produce useful content to help your customers make intelligent choices. When a customer perceives you as “helpful,” this builds authority, and drives brand awareness and revenue.
By learning how to analyze your website’s metrics such as through your Google Analytics report, you can learn about the traffic sources with the highest ROI. Monitoring success enables you to increase your investments on successful platforms and reconsider ones that aren’t working.
A strong marketing strategy lies at the foundation of every successful business. It’s a company’s overall gameplan on how to attract clients by providing appealing content about their services and products. As a tech company, a well-designed marketing strategy plays a significant role in your growth. Here are the steps to create a formidable technology marketing strategy:
Defining your target customer ensures that your marketing strategy is focused on a specific section of the population. You will get a higher ROI for your marketing efforts when you know who you are targeting to buy your products. The best way to know your potential client is to create a buyer persona. With a buyer persona, you will be marketing your services to people who need your product. Otherwise, your marketing strategy will be like a man shouting to people randomly on the street.
Start by defining what your ideal client would look like. Then create a list of the demographics of this kind of client. Typical questions that define a buyer persona include:
You need to know your potential customer as if they were a close friend or a relative. To get a much more effective buyer persona, you can interview people who you feel meet your ideal customer. You can also conduct a simple survey with your current clients to get more accurate information about your ideal client. Remember, the more accurate your buyer persona is, the more formidable your marketing strategy will be. Once you know your target client, then it’s time to move to the next step.
One of the reasons for conducting a competitor analysis is to find out what your competitors are doing to get clients and then improve on their strategy to outwit them. You can also discover new opportunities that are yet to be implemented by competitors.
There are many online tools you can use to learn about the marketing strategies your competitors are using. For example, Mention is a social listening tool that searches all the mentions of your competitor on social media platforms. It analyzes online conversations about your competitors in important places, such as in online communities. You can use such a tool to learn how their customers found their products, the reviews about their products, and promotions that they offer.
Another good one is Moz’s Open Site Explorer. It’s useful for learning about the marketing strategies your competitors are using, such as their SEO techniques. You discover the backlinks your competitors are building as well as the types of content strategies they are implementing. You can also learn where they are running ads online. Furthermore, it’s a good idea to subscribe to their email list to know their email marketing strategy. You can do this to get an overview as well as a personal experience of what their email advertising looks like.
To get the highest ROI, you need to choose channels through which you will reach more people, turn them into prospects, and finally, into clients.You shouldn’t invest in a specific channel simply because you feel like it. It takes testing to learn which is the right channel to market your products.
The best way to define the appropriate channel for your business is to divide the potential channels into three: paid, owned, and earned. Owned channels refer to the marketing tools that you have absolute control over, such as your blog, email list, or website. Your earned media refers to the exposure your content gets organically from potential clients. This can be guest posts on other websites or your SEO strategies. Identify at least one earned media to use as a channel.
Paid media refers to any type of marketing tool that you pay to use. They can be sponsored updates on twitter, Google Ads, and Facebook ads. Paid media gets you more exposure for your owned and earned media. Despite having control over paid media, you should check on the other two types of media to avoid constantly throwing money away to get the results you want. For your marketing channels, you should choose at least two owned media, one earned media and one paid media. It’s also worthwhile to choose a paid media that is affordable according to your budget, and scale up towards the more expensive ones later on.
All of what I just mentioned above probably sounds like a lot of work. And when you use separate tools to do it, it most certainly is. Here’s where another important tool comes into play: a CRM. A CRM (Customer Relationship Manager) helps companies to stay connected with their clients and prospects by creating automated processes. You don’t need to guess when you should be using paid media vs. owned media, because a CRM analyzes everything and tells you where you need to improve things. What’s more, actually all marketing, sales, and customer service processes are automated with a CRM. This increases productivity, makes the purchasing process easier for customers, and takes a whole load off a company’s back for managing tons of different channels.
To come up with a highly-converting marketing strategy, you need to create content that meets the needs of your potential clients at each stage of the sales funnel. There are 4 stages of the sales funnel that form the acronym AIDA:
But how do you know what content to show a customer at which stage? Here again is where a CRM is a key factor. A CRM automates your content during the sales funnel so not only do you no longer need to guess about when to use certain channels, you can also monitor all the related analytics in one place. With everything in one place, this enables optimization. And optimization = scalable, sustainable business growth.
Now that you know some of the components of a good marketing strategy, you need to define clear and measurable marketing goals. Therefore you need to use the SMART formula to create your goals. They should be Specific, Measurable, Actionable, Relevant, and Time-bound. Stating a goal such as “I want my articles to rank number 1 on google” is vague. It is neither specific nor timely. But this alternative is better: I want to rank number 1 for the keyword “writing portfolio” on Google by 2020.
In addition, your goals should be directed towards solving a specific problem and be easily measurable. For example, “I want to get 20,000 subscribers in my email list by the end of 2020” is a great SMART goal.
Next, Actionability refers to the ability of the goal to impact the performance of your business, while Relevancy points to the fact that the goal is helping you get to the next level of growth, and Time means that every goal should have a deadline.
Monitoring your marketing strategy is the last and most crucial step in running an effective marketing strategy. You need to consistently look at the results of your marketing efforts against your ideal targets for every period. If the game plan is not working, then conducting a strategy audit will help you find out what to improve on and what to replace.
There are many technology marketing methods that you can use to attract more clients, educate your audience and position your company as a thought leader in the tech industry. Here are a few to help you get started.
I already mentioned this point above, but it’s important to say it again, because it’s particularly valuable for the tech industry. Marketing automation involves the use of software to automate your marketing activities, such as email marketing, social media posting, and ad campaigns. It also improves efficiency on repetitive tasks and helps to provide the much needed personalized messages for each client.
Marketing automation is highly relevant for the tech industry for a few main reasons:
This last one’s really important so I’ll give an example. Think of N26, the world’s fastest growing fintech that promotes online banking. Considering if they didn’t use online marketing. Wouldn’t that be truly ironic? Nobody would even believe their product. So, if you are in the tech industry, digital marketing is an absolute must if you want to be taken seriously and the easiest way to set this up is to use a CRM for marketing automation.
One of the most effective marketing methods for the tech industry is email marketing. Because products are complex, the target audience needs to be educated about how they work to understand their value. Here is where you can use a type of email marketing known as a drip campaign. Drip campaigns are a succession of emails that tell a story about a particular product in a chronological order. The idea is that with each stage, a potential customer becomes more interested in a product by learning about it over a period of time, up until they make a purchase. The goal should be to make the drip campaign occur over the right period of time and convey the right content so that you receive the highest ROI.
Humans retain more information visually than when presented in the form of words and numbers. An animated explainer video (tutorial) is the best way to show the features of your products to your site visitors. These videos can offer key benefits of your products and help you build your brand when they go viral. According to Wyzowl, 73% of people who view animated explainer videos about products will likely buy them.
Case studies are highly recommended for the tech industry, because they build authority by presenting concrete facts about how your product has improved other companies. If you take a project management tool for example, there are nearly endless options to compare. Case studies are a way to help potential customers narrow down their options so they know which project management tool is more relevant for them.
While ebooks are one of the most effective tools for lead generation for all types of businesses, they are particularly useful for B2B tech. They are often used to start the lead generation process, because that’s what initially encourages those interested to subscribe to your email marketing list. In the same line of thinking as with case studies, they outline how your particular technology is better than your competitors by answering potential questions in advance.
Now that you have learned how to make an effective marketing strategy for your tech company, what are you going to do next? We are technology marketing experts ourselves. We can help your tech company build a strong online presence through marketing automation, and convert your prospects into clients using our tested strategies.
At IDI, our team of experts will help you formulate formidable marketing strategies that align with your business goals. Whether you already have a website or you’re just starting out, we will put on the right path to a successful online presence and higher conversions. We are here to help you grow your business. Get in touch with us!
Adriana Stein is an Online Marketing Consultant based in Hamburg, Germany. Originally from the US, she is a native English speaker and specializes in helping companies with their SEO & content marketing strategies, along with graphic design, brand copy and website development.