The answer simply is, No.
For years now we’ve been living in a consumer-driven economy. Customer needs are driving product innovation, changing whole business plans and driving technology adoption. The sales cycle itself has entirely changed. No longer do salespersons visit a prospect regularly or pick up the phone and share information to guide the prospect to purchase. Today, customers do a lot of their research online and bring in sales closer to the bottom of the funnel. By then they have already shortlisted vendors and are almost ready to make a decision. So if you’ve not been active and visible online then you’ve already missed the bus.
One of the main reasons why startups fail is because they do not have a proper digital marketing plan. You could have a great product but if you fail at letting the right buyers knows about it then your business may never sustain.
The good news is that digital marketing allows startups to engage customers without necessarily spending huge amounts of money. Traditional methods like direct mailers, TV ads or ads in newspapers, billboard ads etc cost a lot of money and are not as effective. With digital marketing, startups can control their marketing budgets, and use digital marketing strategies to get more visibility with the right kind of audience. Especially with tools like programmatic marketing and data analytics, their campaigns and ads can be more targeted ensuring that they get more bang for their buck.
Let’s look at some reasons why tech startups need digital marketing:
Increase lead generation and online conversions
With digital marketing, it’s easier to measure the effectiveness of your marketing strategy and course correct if it’s not giving you desired results. You can look at the incoming traffic and the rate of online conversions using any of the good yet inexpensive tools available today. Content marketing and social media campaigns especially are great ways to capture leads.
Get more visible
Along with news customers, digital marketing also boosts your brand’s visibility online, which in turn means that you have greater chances of becoming a bigger business. Social media, online campaigns, ads, SEO etc make sure customers repeatedly see your brand and think of you during their next purchase.
Better ROI tracking
Unlike traditional marketing, it is easier to track and measure the ROI you’re getting from your digital marketing efforts. And you can do it in real-time instead of having to wait until weeks after a campaign ends. This allows you to make adjustments and improve performance, or completely stop the campaign.
Here are some digital marketing strategies that will propel tech startups into growth without asking for a huge investment:
Customers are researching online more than ever, and are always hungry for good content. As a tech startup, there are so many things you can talk about from emerging technologies and business strategy trends to success stories and customer experiences. Use blogs, articles, videos, case studies, articles etc to tell your story and you’re your solution without actually directly selling. You can track, monitor, and analyze the behavior of your customers. This can lead to a better understanding of their needs and what you can do to satisfy them making sure that you are optimizing your messages.
Engage through contests
No matter how old we get we always love to play games and we surely love to win. So if you’re into consumer-oriented technology – fitness bands, consumer apps and so on – organize online contests to make people sign up and participate. This way you can even grow your mailing list when you are still trying to get traffic to your site. Once you have a database of interested prospects you can run mailing campaigns or reach out with customized offers.
Don’t Underestimate SEO
While some startups might find SEO boring, and most startups don’t even understand it, SEO is a great way to get traffic to your website organically and is not expensive either. Long-form keywords, on-page tactics and off-page activities together will contribute to increased site traffic.
Get the camera rolling
Everyone loves videos these days, and thanks to channels like YouTube, Vimeo and TiK ToK, it has become so easy to shoot and share videos across the globe and build an audience. Videos are also more personal than reading an article and allow you to connect easily with your prospects.
Digital marketing can accomplish a lot for your brand even if you’re a startup. You might have a great product, but that’s only half the work. You also need to grab people’s attention and build a reputation. Don’t forget that by having an online community of followers and engaged audiences, you look more credible and trustworthy to your customers. As you struggle to build and maintain your niche space and to stay above competition, digital marketing is a vital tool. Savvy businesses understand that digital marketing will help them transform their processes and products, and will bring them closer to their target audience.