Running a tech startup in Malaysia, you are constantly facing new challenges – ranging from excelling your business and new hires to budgeting and being in tune with your customers. The list goes on as your business grows. While ‘every problem’ is of course always a priority, marketing is often not getting the attention early enough.
One of the reasons is that tech startups often find it difficult to identify key their key marketing priorities. It’s simply because they don’t know where to begin.
We totally understand. Marketing jargon is confusing if you have to work through it yourself. So, let’s not confuse you any further. Here are 3 easy steps to determine marketing priorities for tech startups.
Step 1 – What’s your audience group?
Kickstarting your marketing is all about finding your target audience. If you have customers (no matter if B2B or B2C), then you also have an audience. In order to get the marketing ball rolling, you need to clearly identify this audience is – be aware that you might be talking to more than one audience group. Once you have determined who these people are, you need to figure where to reach them – online and/or offline. A good way to start is by looking at how your existing customers find you.
Depending on your service or product, your target audience might read tech publications or reachable on social media. For instance, if your business develops payroll systems, you should consider channelling your marketing budget towards social platforms such as LinkedIn and Twitter. If you are an ecommerce selling lifestyle products, you need to concentrate your marketing on Instagram and Facebook.
Besides the product that your business builds or sells, what else is it that you want them to know? The communication to your potential customers might include highlighting product benefits, showcase its convenience or simply be inspirational. In any case, the communication needs to be relevant and tailored to the audience. Finally, don’t forget to establish your brand voice.
Step 2 – What’s your budget?
Most tech startups don’t like to answer this question, as especially lean startups don’t want their budgets to be compromised by marketing. But the good news is that no matter the size of your budget, results can be achieved. You need to remember that large marketing funds don’t necessarily equate marketing success and vice-versa. On the other hand, solely relying on your product’s benefits may sound idyllic, but more often than not, it is not enough.
Even on a small budget, there is a lot that can be done. Living in a digital age (and you being a tech startup), your business should take advantage of online channels and social media. Instead of spending money on advertising, you should explore other avenues including user-generated content, blogs or white-papers.
Step 3 – What do you want to achieve?
The easiest way to blow your budget is by not having clearly defined outcomes and objectives. Sit down with your sales team and determine where your company is in the growth cycle. If it’s still early days for your tech start, your immediate goals should be raising brand awareness and generating data that will come in handy later during your marketing efforts.
If you are a step further and your tech venture has moved beyond the brand awareness stage, you need to get down to business, drive sales and build a strong pipeline of leads. A metric to keep in mind for this exercise is the cost per lead (or sale), as it helps you to identify the effectiveness of your marketing.
Once you have worked through these 3 steps, you should have a clear idea of what your marketing priorities as a tech startup in Malaysia should be.
Need more inspiration? Here is how other tech companies have done it. Check out these case studies from our technology portfolio.
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