Getting Your New Technology to Market: 5 Core Tactics to Keep in Mind
Are you one of the hundreds of entrepreneurial startup companies that has developed an innovative technology this year? Now that you’ve invested resources into product development, a solid marketing strategy is critical if you want to earn an ROI.
Printing Industries of America provides technical support to countless industry members, and we’ve seen that many of them share a big challenge—getting their technology in front of the right customers. Small startups may have fewer resources to devote to sales and marketing, while some larger companies are searching for new or additional avenues to get in front of their target audience.
Although we can’t give you the magical marketing plan that is going to catapult your brand new technology to market success, we can provide some vital core tactics.
Here are five essential strategies to keep in mind.
1. Create a marketing plan.
Though it may seem like an obvious step, it’s one many companies fail to plan out completely. Ensure you are strategically assessing all the angles. What is the target market for this product? Who are our competitors? What is our total budget? What makes our product unique? Essentially be sure to conduct a comprehensive Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. Finalize a solid strategy that meets your main objectives.
2. Research different promotional avenues.
To reach a wider audience, some companies may need to take another look at their marketing promotions. At the core, a media mix that integrates print and digital communication mediums, such as email, direct mail, and social media, is most effective. But are you missing out on other ways to reach your target customer? To make your product stand out from the competition, you may want to try entering relevant industry award programs. Those like the InterTech ™ Technology Awards, which recognizes innovative technologies, can provide valuable, industry-wide exposure and positive PR.