The Challenge: Keeping In Sync With The Buyer
One of the biggest challenges for marketers today is that they are too often focused on the most tactical aspects of the job: promotion, contacts, reach, social marketing, and are failing to connect the rest of the organization with the buyer.
High technology companies present a unique situation and are different than other industries because they can progress through developmental growth stages at a fairly rapid rate – from start-up to maturity in only a few years.
Many technology companies often lose site of the most important part of marketing, the source of value, is our understanding of customers - what customers want, and how to align your products to their needs and how they buy. Most marketing teams don’t have anyone dedicated to this function or don't have the right mix of skills to properly carry out this function.
This is especially important in B2B because buying processes are more complex, there are usually more buyers involved, and products tend to be more technically complex. To solve this problem, you need experienced senior leadership that can new function has been created, which is often referred to as product marketing.
The Solution: Adding Marketing Capacity
Don't confuse activity with accomplishment -without an expert in charge your marketing is expensive and ineffective.
A junior marketer or digital agency is only as good as the strategic direction they receive- which leads to a lot of activity but little progress, Navigating the cybersecurity market is complicated and requires pinpoint marketing precision, Investing in website design or tactical programs without focus.at best produces a high volume of unqualified leads which waste valuable resources on follow-up. And at worst nothing !
If you're like the vast majority of startups your marketing is under-resourced, Founders often delay hiring a marketing expert and attempt to cover marketing functions themselves, by committee, novice marketers, or a digital agency. This lack of bandwidth and expertise leads to ineffective marketing, which according to CB Insights is a key reason for startup failure.
Why does this happen and how can you succeed where others have failed?
Similar to technical debt in software, startups get into marketing debt with the quick fixes and shortcuts, or the simple ignoring of processes. The longer the startup takes to address core go-to-market issues, the more likely sales goals won't be met, competitors will gain space, investors lose interest, and the risk of company failure rises.
Is there a way to get a marketing executive on board earlier?
A Fractional CMO service is a cost-effective means of having expert marketing leadership on your team without the full-time overhead costs associated with hiring a top-level executive. They combine in-depth customer knowledge with practical expertise in marketing and sales, bringing real-world experience and perspective to crystallize strategy and manage implementation. Also, they work as an external member of your company’s executive management team, available for strategic projects and coaching services. Most importantly, a Fractional CMO is your startup's growth architect.