Question

Topic: Strategy

1st Time Marketing For A 20 Year Old Firm

Posted by s.singh on 5/29/2008 at 6:42 AM ET 250 Points
This firm provides software solution and support for a niche market. No sales or marketing activities has been done to date. Client base is made through word of mouth. What will be the best starting point for a marketing strategy?
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by Jay Hamilton-Roth on 5/29/2008 at 8:43 AM Member
    Listen to Gary.

    To start creating a marketing strategy, identify who your target market is, what problem they have, what you do to solve it, and how your solution is better than your competitions'. Given your history, talking to your customers to get some answers is quite useful.
  • Posted by s.singh on 5/29/2008 at 9:12 AM Author
    It is actually a project undertaken by us for this company. We have identified the objectives in a nutshell and they are:
    1. Create awareness of the company and its products/services to its target group
    2. To further capture the niche market share (hence counter attack competitors)
    3. To make its USPs; the wealth of experience in consulting and implementation, professionalism and as an innovator (ability to customise the standard solution to its clients' needs); clear to its target group.
  • Posted by Frank Hurtte on 5/29/2008 at 9:38 AM Accepted
    Based on your comment, I assume you understand who the customers are and want to begin driving out a message.

    1) Are there publications that serve the industry? If so I recommend developing some "planted" articles which outline the success of existing customer.. which a rich mention of your clients product as a driver.
    2) Membership in any associations which current clients are members. These make fishing easier.
    3) Develop a plan to following key members of the existing client community as they move from job to job during their career.
  • Posted by Jay Hamilton-Roth on 5/29/2008 at 9:47 AM Accepted
    Another suggestion: find out what other company's products are used before and after your firms'. The goal is to either bring these products/services in-house or co-market with leading providers to create a larger client base.
  • Posted on 5/29/2008 at 10:47 AM Member
    where is your name identity, all along, how far will it take you, how are you positioned as a brand, and where are you on the Five Star Standard of Name identity....

    where is your URL and how fast can it help you in visibility, as the rest may be just luggage.

    do a lot of searching on net and acquire a deepr understanding of these issues...you will do it if you have the will.
  • Posted on 5/29/2008 at 11:07 AM Member
    Roll email campaigns to your target audience with good offers that you currently have. I hope this will fetch good returns. You can contact Bob Cordell who can help you on this. his contact number -- 415-358-7495
  • Posted by CarolBlaha on 5/29/2008 at 11:58 AM Member
    Since you have been working on word of mouth already, you have the basis for a good referral program. Capitalize on what you have done well
  • Posted on 5/29/2008 at 12:34 PM Member
    When it comes to marketing (often confused with advertising), the problem is rarely a lack of ideas. Any marketer worth his/her salt could offer up a laundry list of things you could do.

    If you need sales today, by all means, pick one and jump in.

    Eventually, however, you'll find time and money in short supply, and you'll need a plan. Not a giant 3-ring binder that collects dust; a concise agreement on paper that focuses your efforts and your scarce marketing dollars. It can be as simple as identifying priority tactics, establishing a budget, and deciding how to measure success.

    Or, you can put some thought behind your market and your customers. Go ahead and collect all those ideas and prioritize them, but also resolve to make your work strategic. That is, make the process of communicating with key audiences a part of your business plan. Marketing can do more for you than drive short-term sales. You can also build loyalty, boost satisfaction, improve your products, speed development, identify other markets, reduce costs, and a lot more.

    Best wishes,
    Jaime Collins
  • Posted on 5/29/2008 at 12:53 PM Accepted
    Of course, I neglected to read all the responses, and your own on the marketing objectives bears further comment.

    Your "objectives" are too broad. They're really goals. Try to narrow down in concrete terms what you want to accomplish in the next year or two.

    Regarding your USP, it's not strong enough. Define it in terms of your customer. Make it singular. Make it truly differentiate. Then, create a brand around it. What does the "wealth of experience" et. al. mean for clients? What problem do you solve? What's your key point of difference? Beyond what the company is, identify a key insight into the niche market can you use to trigger an emotional response to your brand.


  • Posted on 6/2/2008 at 8:35 AM Member
    20 year and you din't have marketing, that speaks volumes in itself. I agree with Carol here, that this word of mouth is your strength. You should perhaps try and carry this strength in to your marketing strategies effectively. One good way to start off is by getting testimonials of your customers and including customers (and their experiences) in your roadshows/ other marketing efforts. You have to capitalize on your strengths.

    Just my 2cents
  • Posted by s.singh on 6/2/2008 at 11:22 AM Author
    Thank you for your comments. All of them have been very useful for me to think critically of the strategy. I have added in many new points that I would have been unable to think of myself. Appreciate the time and effort taken to answer this question of mine.

    Regards,
    S.Singh
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)