A marketing strategy is a core pillar of every business. According to Financier Worldwide:
‘For all firms, whether a modest start-up or a multi-national giant, an effective marketing strategy can serve as a crucial roadmap for the entire business.’
But, in the fast-paced world of technology, how do you differentiate and out-pace the competition?
Well, starting with data-driven decision-making is crucial. Armed with the right stats to back up your decisions, everything becomes a little easier, more accountable and measurable. Read on to discover the essential statistics about marketing strategy for technology companies.
- 62 percent of marketers in the B2B tech sector said that creating engaging content is their biggest marketing strategy challenge. To ensure your content is more engaging, track results and double-down on what works. A/B test everything, try every trend and fad, and then let data drive your work.
- Digital is the future. Studies show that more than half of tech B2B sales will be driven by digital marketing in 2020. That means that – sadly – billboards and print ads are not the future, and social media, SEO, web-design etc is. And for that, you’ll need a specialist digital-first marketing agency.
- 42 percent of companies have a designated content strategist. So it’s clear that strategy isn‘t an afterthought. It’s not a tacked-on role that an all-purpose marketing manager should handle alone. Consider hiring your own marketing strategist so that there is someone with the responsibility of ensuring your marketing strategy is there and it’s working.
- Marketers who document their strategy are 538 percent more likely to report success than those who don’t. That’s big. It’s important to document your strategy because the strategy needs to be clear and repeatable. Then, you can make iterative improvements. When things aren’t recorded, the strategy becomes hit-and-miss. It also makes the marketing strategy too dependent on individuals. What if someone crucial leaves the business? They probably know aspects of the marketing strategy that they won't have passed on.
- Successful marketers are 242 percent more likely to perform audience research once per quarter or more. And 56 percent of the best, elite marketers conduct research on their audience every month. It’s all about reverse-engineering outcomes: clarify who you’re selling to and then give them the value they want.
- A good marketing strategy needs KPIs (key performance indicators). And the most important one for marketers is qualified leads. 30 percent of marketers listed this as their top KPI. And it makes sense – qualified leads are the life-blood of any business.
- A strategy with defined processes is 466 percent more likely to deliver success. Hopefully, you’re noticing a trend now – you must clarify processes, KPIs, and your buyer-personas. A strategy that is grey and unclear is a bad marketing strategy.
- 72 percent of tech buyers will look to industry peers when making a purchasing decision. Buyers want to know that what they’re about to buy is liked by the people they trust most. A great way to leverage this is to use case studies and testimonials on your website. Also, make it easier for your content to be shared by including social media functionality on your pages.
- When it comes to purchasing decisions in B2B high-tech, typically, there are 8 people involved. How you get 0.8 of a person, we’ll never know. But the point is clear – there is a team involved when a purchasing decision is made. However, there will be people with more clout in the decision making process, so try to make these your buyer-personas. This will ensure your marketing strategy is most effective.
- 48 percent of marketers want to add YouTube to their marketing strategy. The writing is on the wall – video is an essential medium for marketing In order to kickstart your video marketing efforts, follow this guide. And remember, it doesn’t have to be perfect, high-budget videos all the time. With tools like Biteable, you can create strong content without breaking the bank.
- Generating leads and traffic is a key problem that marketers are working to solve. 61 percent of those asked listed it as a 'consistent challenge’. How do you go about generating leads and traffic? Here are 3 quick fixes: First, create quality content over quantity of content. Second, post content consistently. Third, do more of what is getting results. Here’s an excellent longer guide from Neil Patel.
- Becoming experience-led was the top priority for high-tech companies in 2017. If your marketing strategy is going to maximise user experience, it will including having a well-designed website that is built to deliver real growth. Here’s our guide on how to make yours effective.
- Thought leadership is in exceptionally high demand. 96 percent of B2B buyers want to see content with more input from industry thought leaders. How do you get input from thought leaders? You build relationships, you offer value in return, and you reach out consistently. Here’s a longer guide on how to get content from thought leaders.
Marketing strategy is an important part of every business. After all, how can you get from A to B without a plan? According to the Harvard Business Review, you need:
‘Good marketing management that directs clever strategies toward successful marketplace results.’
With the right help, creating a marketing strategy that works for a tech business doesn’t have to be difficult. Especially when you have the statistics and data that reveals what works. Use the statistics above to guide your decisions and create a marketing strategy that drives results.