February 4, 2010
For small/medium software companies, what are the best marketing strategies? Of course, that does depend on your market segment.. but there are still some key strategies that make sense for almost all software or services firms:
- Focus on Inbound Marketing Online
- Let Prospects Experience Your Software
- Cultivate Existing Customers
- Establish a Partner Ecosystem
- Maintain a Customer Conversation
- Develop a Channel Program
- Offer Complementary Services or Products
- Segment Your Market
- Differentiate with Niche Marketing
- Leverage Customer Case Studies
For more, read our latest article on Software Marketing Advisor: “Marketing Software Strategy for Software Product Companies”
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Posted by jleescastro
February 2, 2010
How useful is competitive analysis? As Michele Linn points out in her latest post “Five Key Questions Your B2B Competitive Analysis Should Answer” in her Savvy B2B Marketing blog, sometimes competitive analysis can lead to dead-end marketing strategies that are just copying your competition’s moves. A business version of “keeping up with the Jones’s”.
The best competitive strategy is to try to re-invent or re-define your category so that you are the market leader… a lot of great examples of companies that are out there that have done that.
Copying competitors won’t get you there… but competitive analysis can help you determine the best way to really crystallize your target subsegment that has you as the de facto leader…
So, yes, if you are selling software products or services, do invest some time in software marketing research to better understand your competitors. But instead of trying to follow them, use that information to develop strategies that truly differentiate you within your target segment.
Leave a Comment » | marketing strategy, software marketing, technology marketing | Tagged: enterprise software, marketing strategy, software, software marketing, technology marketing | Permalink
Posted by jleescastro
January 22, 2010
A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) is an effective way to make sure your marketing activities align with your business strategy.
Why is that a good thing?
It means that the money you spend on marketing is more likely to produce the business results you’re looking for (more customers, larger market share, increased revenue… whatever your particular objective is).
When you do a SWOT analysis, you brainstorm and list out your company’s
- Strengths (what are the positive attributes of your company, product or service?),
- Weaknesses (what are the negative attributes of your company, product or service?),
- Opportunities (where are the market opportunities for your product or service?),
- Threats (what are the main threats to your company?).
The SWOT analysis can help you find a way to use your company or product strengths to take advantage of market opportunities, and identify and work on weaknesses that might inhibit your ability to take advantage of those opportunities.
To be successful, it’s important to always be on the alert for market threats. Leverage your strengths to either eliminate or reduce the impact of threats, and work to address any weaknesses that may increase the criticality of threats.
Finally, prioritize marketing activities and messaging that highlight your strengths, and help you take advantage of opportunities.
For more on doing a SWOT analysis, take a look at this article: “Doing a SWOT Analysis to Focus Your Marketing Strategy.”
SWOT analysis is also included as part of our Software Company Business Plan Package and the SaaS Business Planning Package.
Leave a Comment » | business planning, marketing strategy | Tagged: business planning, marketing plan, marketing strategy, swot | Permalink
Posted by jleescastro
December 8, 2009
I just read the case study on ISV eMASON on SoftwareCEO this week. It’s an interesting example of a software company that managed to triple their business in 2009, despite the slow economy and turmoil in their target market of financial services.
How did they do it?
Basically, with a singular focus on quality and solving the customer pain point to the best ability, flexibility and easy customization, being really clear on their unique value, and making it as comprehensive as possible within the bounds of the single point of pain the application is solving.
I think we could all learn from these tips… bottom line:
- understand your customer and feel their pain
- know your unique value – what really distinguishes your solution from the competition
- be fanatically customer-focused
Leave a Comment » | enterprise software, marketing strategy, software, software marketing | Tagged: enterprise software, marketing strategy, software, software marketing | Permalink
Posted by jleescastro
December 7, 2009
For marketing messages to be effective, you need to really think about who it is that you are speaking to. Too many marketers only think about a single audience for their message: the end customer. The end customer may be your primary audience, but they are not the only one.
There are a number of other audiences that may need marketing messages crafted specifically for them, including:
- Online influencers, such as prominent bloggers in your field, influential websites and analysts,
- Distribution channels,
- Sales and marketing partners,
- the press and media,
- your ecosystem partners, such as complementary software vendors, hardware vendors or system integrators,
- other key stakeholders that your end customer looks to for guidance or approval on their buying decision (this is especially important for B2B applications).
Your end customer will be influenced not only by your marketing messages directly targeted at them, but also by these other stakeholders and influencers. The more consistent messages they receive from different channels, the more likely they are to make a positive buying decision in your favor.
Bottom line: when crafting your marketing messages and marketing plan, don’t forget to build target messaging and budget marketing activities for all audiences that are important in influencing your customer’s purchase decision.
Leave a Comment » | marketing strategy, software marketing, technology marketing | Tagged: marketing, marketing plan, software marketing, technology marketing | Permalink
Posted by jleescastro
December 3, 2009
It’s December already… a good time to be thinking about your software marketing approach for 2010. Hopefully the economy will be picking up, customers will be looking for options, and you need to make sure your product is top-of-mind when they get into a buying mood.
At Software-Marketing-Advisor.com, we have just released our detailed, professional software marketing plan template package. It gives you all the pieces you need to easily put together a customized marketing strategy and plan for your software product, and we’ve even thrown in free consulting as well. You can check out the Software Marketing Plan package here.
1 Comment | marketing strategy, software marketing, technology marketing | Tagged: marketing, marketing plan, software marketing | Permalink
Posted by jleescastro
November 12, 2009
I’ve started re-reading a useful little marketing strategy book I own: “The 22 Immutable Laws of Marketing
” by Al Ries and Jack Trout.
Their first “law” is the Law of Leadership: it’s better to be first than it is to be better, they claim.
They give the example of Charles Lindbergh as the first person to fly the Atlantic solo. Have you ever heard of the second person, Bert Hinkler, even though he was able to fly faster & consumed less fuel? Probably not.
That got me thinking… is that law always true, and are there any exceptions to it? I think it’s a good rule of thumb, but we have to be careful applying it to technology products: There are times in technology marketing when being the first to market is not the best choice (for example, if the technology is not yet mature enough, or the supporting infrastructure isn’t ready for a compelling usage model yet). It has to be a strategic decision, with this as one consideration.
However, thinking about this “law” in terms of how to position your product or service makes a lot of sense: if you’re launching a project management software product it may not be smart to go head-to-head with Microsoft Project as a meets-all-needs basic project planning tool. Better to find a specific market segment where you have enough unique value or unique features to be the “first” to really solve their particular problems. Get traction and success in that subsegment, then you can grow from there.
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Posted by jleescastro
October 9, 2009
When it comes to planning your marketing activities, do you take a strategic or a tactical approach?
Or in other words… Do you have a plan for how your marketing will really impact your customer purchase decisions? Or do you just “shoot from the hip” in your marketing decisions?
Too many companies fall into the second category, especially technology focused firms (to whom marketing may not be second nature).
It may seem like a waste of time to sit down and plan out your software marketing strategy, but the fact is that doing so will make your marketing signficantly more impactful and will save a lot in your marketing budget in the long run.
Trade shows are just one excellent example… they’re very expensive, but many tech companies continue with that large expense in their marketing budget just because “we always have” and “our competitors have a booth there.” Neither of those are good reasons, unless you’ve really done the strategic analysis of how your presence at the tradeshow can influence your customer purchase decisions in your favor.
Ask yourself whether the tradeshow is an important part of your software marketing plan. Maybe it is better to pass on the booth, and focus instead on networking and customer meetings during the show? If you don’t have a strategy, you will never know which is the better choice for your business…
Make your marketing work for you, by regularly updating your business plan and marketing strategy, and using that to prioritize your marketing activities. You can get a head start by using our templates for business and marketing planning for both traditional software companies and SaaS providers.
1 Comment | business planning, marketing strategy, software, software marketing, technology marketing | Tagged: business plan, business planning, software, software marketing, technology marketing | Permalink
Posted by jleescastro
August 25, 2009
7-Step Marketing Strategy Process
Too many leaders of small technology businesses think of marketing as either an
afterthought (“Got the product ready… now I have to go market it!”) or a
forethought (“Got to put together my marketing plan up front… then I’ll have my plan all ready to go when I launch!”).
The fact is neither approach is optimal. I really think marketing must be an integral part of the product or service development process in order to be as impactful as possible.
There’s just too much focus on putting together a marketing plan (whether before or after product development) as a “thing” that must be created. When in fact what’s needed is a marketing strategy process that is integrated with the product or service development process.
For example, here’s a good, simple summary of the marketing strategy process that could be adopted for any technology venture.
Some things to think about:
- how does this tie in with your product definition and product development process?
- where is the tie-in with sales?
- how can the marketing function be as integrated as possible with the rest of the business?
1 Comment | marketing strategy, software marketing | Tagged: marketing process, software marketing, technology marketing | Permalink
Posted by jleescastro
August 4, 2009
This interview with David Taber, Author of “Salesforce.com Secrets of Success” on the Marketo blog is a worthwhile read for any software marketer, especially those in the CRM space or those who wish to more effectively utilize their own CRM systems.
Key takeaways? They may not be new, but they’re important enough to deserve repeating:
- Focus on lead quality, not lead quantity
- Have a clear process to drive the sales cycle, and make sure everyone from marketing to sales understands their role in the process
- Figure out and track meaningful, quantifiable measures of marketing success
1 Comment | marketing strategy, software, software marketing, technology, technology marketing | Tagged: CRM, software, software marketing, technology, technology marketing | Permalink
Posted by jleescastro
