Data & Research Analyst - B2B Content Strategist InvoZone.com
A lot of startups fail to target the right audience and customers in the long run. I am not saying that you would fall into the same zone but it is important to at least know what you are in for and how you can avoid failures. Let’s say you have a startup software development company and you want to take it to new levels. Every entrepreneur wishes the same.
But statistics tell a different story. According to Investopedia, In 2019, the failure rate of startups was around 90%.
Apparently, it’s a very simple business model: you have a team of software developers with expertise and you outsource services to businesses in developed countries like the USA, Canada, Europe, and more. You get a high ROI. Sure there are additional expenses and taxes but still, you get a handsome ROI!
So why is it so difficult to achieve success in this market? The answer is “Mighty Competition”. If you search for “Top Software Development Companies” on Clutch, these results pop up:
17,870 firms registered on one platform only(!) Imagine if you analyze the number of companies registered / indexed on Google.
But don’t lose heart, there's a light at the end of the tunnel. All it takes is a few tweaks to your marketing strategy and your company can make its mark.
The good news here is that the software outsourcing market is growing rapidly and expanding with technological advancements. The tech powerhouses like IBM, Google, and many others love outsourcing.
In this article, I will highlight some of the best marketing strategies according to veteran Founders and C-Level executives in the software development industry.
By reading this article, you will discover ways to eliminate obstacles and develop the right marketing strategy for your company.
Every company wants to maximize its profit. Investing in the marketing of the product leads to an increase in profit.
Here are some most effective marketing strategies by experts:
1. Focus on inbound or outbound marketing ( Michael - Owner, Senacea Ltd)
We've spent over 2 years testing various marketing activities for our company (LinkedIn, Facebook, Google Ads and SEO). I believe the most important factor determining the scope of marketing activities is whether your customer pool can be efficiently targeted with work-related or demographic data. That suggests whether your strategy should focus on inbound or outbound marketing.
The cost per lead is much higher for B2B than B2C marketing. Therefore, it can only pay off if it properly qualified leads. If your company provides IT services targeted at a certain industry and you know the job title of the decision-maker, LinkedIn can be invaluable. You can use InMail, paid ads, or simply connect with them.
If you can't define your client profile with such features, inbound marketing will be more efficient. SEO and Google ads will draw customers who self-declare their interest in your services.
2. Reaching out to influencers and targeting local markets ( Nael Shahbaz - Marketing Head, InvoZone)
Having a ‘local online presence’ can work wonders. An optimized and verified Google My Business profile attracts more clients by appearing better in search results and on Google Maps.
In addition, establishing business relations with relevant influencers and authors can give wings to the marketing efforts.
3. Showcase client success stories (Wayne Connors - Managing Director, ACCL)
There are many small and mid-sized IT outsourcing companies that are trying to survive against top players. While big companies might be more flexible with marketing budgets, exhibitions, etc. – the smaller ones just take small steps to generate a way to gain access to potential clients.
Unlike showcasing our system from the inside, we are working with clients, we have to re-focus on their individual goals, and try to solve their problems.
A strategy we used to get more contacts and leads is to showcase our client success stories as that works much better.
There are few things more powerful from a technology marketing standpoint than your target buyer saying to themselves, "That solution worked for another company just like ours, so maybe it will work for us too?" That’s the point behind client success stories that you can make into testimonial videos.
4. Laser-focused target market (Petra Odak - CMO, Better Proposals)
There are lots of outsourcing companies in the communities where I spend time and it’s easy to tell the good ones from the bad. The good ones specialize in a very specific type of work for a specific type of clients, e.g. developing mobile iOS apps for SaaS companies.
The bad one's market to everyone and they claim to do everything. If you run an outsourcing company, make sure to have a laser-focused target market and a value proposition for them specifically.
No one wants to hire a Jack of all trades when outsourcing - they want an expert in their field of work.
5. Focus on social media marketing (Simon Elkjær - CMO, avXperten)
One marketing strategy that IT outsourcing companies should spend time on in 2021 and the years to come is social media marketing. IT outsourcing companies should go beyond their comfort zones and really work on expanding their brand through multiple social media channels.
It’s important for IT companies to craft creative social media posts that cater to their customers’ needs. Personalizing and constantly optimizing your IT company’s marketing campaigns will help you connect with the audience and further strengthen your brand’s reputation.
6. Create concrete and practical case studies (Sharon van Donkelaar - CMO, Expandi)
When it comes to IT outsourcing, this important industry is judged according to successful projects and high-profile clients. On your website and social media, create concrete and practical case studies that your potential clients may look at. This is how you are able to prove that you are a reliable and personable company that is fit for the job.
Use your advantages such as software and hardware capabilities, location, personal, and others to differentiate yourself from the competition.
In this segment, information is key and you should always flaunt any successes that your business has, as a promise to deliver the same high-quality service to future and interested clients.
7. Videos for advertising (Oliver Baker - Managing Director, Intelivita )
I think a marketing strategy that works for IT outsourcing companies is the use of videos for advertising. Videos are helpful to tell stories in a way that no other types of advertising can.
It is easier to connect with your audience using videos. In today’s online competitive world, you need to stand out and with videos you possibly can. There are a lot of possibilities of using your creativity when making videos. Here’s what you must consider;
Branding. Create a good name and good logo. Asset of your brand must be used in your content that you put out. If you are making a Facebook post, make sure to include your logo. This is to make your brand prevalent in the mind of your audience. They’ll think of your company when they need to require related products.
Make good content. As we all know “Content is King” in any marketing strategy. Write a content that impresses both the search engine and the reader. Your content should attract and satisfy your audience.
Previously published here.
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