Pressure of Quick Results Leads to Failure
Because many tech startups are under tremendous pressure to produce quick results, they tend to adopt “fail fast” strategies. These types of strategies may be effective in other dimensions of the business (such as product development), but good marketing takes time.
Many HCM tech startups fail because they don’t stick with a strategy, message, brand, or campaign long enough to see results. Marketing succeeds by positioning your brand as the preferred choice among a carefully defined group of buyers. To achieve this result, your message needs to be right — and that takes time. Your brand needs to be right, and that takes time. Your campaigns need time to build brand recognition. Strong brand recognition leads to strong demand generation. Think about it. If your entire marketing program is based on digital advertising and white papers, will anyone download your white paper if they have never heard of your company? And even if they do, will they care enough about your company to learn about your product or service?
Good marketing strategies are often abandoned due to the intense pressure to produce leads and sales. But these leads and sales are unlikely to produce sustainable growth if you’re not also acquiring promoter customers.
Many deals driven through “random” lead generation are of poor quality because the buyer doesn’t have a connection with your brand.
Action: Chill Out
Good marketing strategies are often abandoned due to the intense pressure to produce leads and sales. Give marketing time to lay a solid foundation and expect lead generation to fall into place as a result of solid fundamentals.