Sujatha Ramanujan, the managing director of Luminate, a startup accelerator for early-stage optics, photonics, and imaging companies, has advised tech startups not to overlook the importance of marketing. While entrepreneurs face various challenges when building a business, many tend to neglect marketing, particularly in the tech industry. Ramanujan has observed this pattern firsthand, noting that tech company leaders often under-budget for marketing or believe they can handle it themselves.
According to Ramanujan, scientists and technologists may prioritize investing in research and development rather than allocating funds to branding and advertising. Some perceive marketing as an optional extra instead of a necessity. However, regardless of how groundbreaking the technology may be, a business cannot succeed if no one knows about it or how to purchase it.
To ensure a successful launch and secure sales, startups must implement marketing strategies that define their target audience, build their brand, and avoid missed opportunities. Ramanujan offers several tips and best practices to help startups achieve this.
First impressions are crucial, as website visitors form an opinion within 50 milliseconds. Founders should consider the brand identity their website conveys, moving beyond personal taste and focusing on building a brand that appeals to the target audience. Branding should reflect the company’s core values and the promise it makes to customers, offering clarity and defining what it delivers.
Startups need not invest a massive budget in marketing to see a return on investment. Simple yet effective tactics can drive significant sales. For example, hosting webinars and leveraging channel partnerships can quickly generate highly qualified sales leads. Attending industry trade shows and networking can also result in potential leads.
It is equally important to consider how prospects will be converted into customers. Startups must ensure they have accessible websites for potential customers to gather more information and establish a process for following up with leads generated at trade shows. Anticipating the customer journey and providing the necessary tools to support it is crucial, including effectively communicating the benefits of the offering, incorporating visuals to demonstrate ease of implementation, and utilizing customer testimonials for third-party credibility.
While it is essential to understand marketing and possess the right tools, startups without a background in marketing may need to hire or outsource experts in the field. In today’s digital landscape, skilled resources can collect data and analyze campaign performance, allowing for better allocation of resources to yield improved results.
Ramanujan emphasizes that effective marketing should not be treated as a secondary priority. By defining the company’s brand, understanding the target audience and competition, determining differentiators, and finding effective strategies for attracting and engaging with customers, startups can leverage expert marketing to drive growth.
By following these key principles, startups can increase their chances of success in the highly competitive tech industry. As Ramanujan points out, it’s not just about the technology itself but also about effectively showcasing it to potential buyers, partners, and investors. Marketing plays a pivotal role in ensuring that startups can build awareness, generate leads, and ultimately drive the sales needed for growth and sustainability.
