By; Tomi Ajiboye
Let’s face it, Marketing is resource-intensive. Within the B2B marketing organisation in tech companies, there are several sub-functions, each with a significant contribution to the effectiveness of the overall marketing function. Some of these functions include demand generation, product marketing, content marketing, event marketing, public relations, brand communication, internal communications and marketing operations. B2B Tech startups do not have the luxury of allocating dedicated resources to these functions. Yet, they must find ways to use limited resources to achieve the outcome of these functions if they will satisfy stakeholders’ expectations.
So how should B2B Tech Startups approach building their marketing organisation? Start with the product marketing sub-function and build out the marketing organisation from there.
Product marketing plays a crucial role in the success of B2B tech startups. It involves understanding customers’ needs, positioning the product effectively, and devising strategies to drive sales. There are elements from the other sub-functions in Product marketing without the demands of their full scope. Apart from driving product growth and adoption for product-led organisations, product marketing also provides sales support for sales-led organisations. In B2B tech startups, product marketing goes beyond traditional marketing tactics to educate potential customers about the value and benefits of their products or services.
Budget-Friendly Strategies in Product Marketing
For B2B tech startups, having a limited budget can be a challenge, but it doesn’t mean that effective product marketing is out of reach. In fact, budget-friendly strategies can be just as impactful, if not more, when executed strategically. The key is to focus on tactics that offer the highest return on investment. Instead of investing heavily in traditional advertising, startups can leverage digital marketing channels such as social media, search engine optimization, and content marketing to reach their target audience cost-effectively.
Before implementing these tactics, some background work needs to be carried out. This is where formulating a strategy that will back tactical execution comes into play.
Start with understanding the customer
Start by understanding your customers deeply. Segment them based on demography (size, location), needs, behaviours, and characteristics. Develop a deep understanding of who they are, the organisational type, sector, and purchasing behaviour. Create and document a detailed description of the ideal customer profile. Identify the roles that comprise the decision-making unit for your product or service within the organisation and create personas for each role. This persona will help develop a deeper understanding of the pain points and interests of the people who make up the organisation and how decisions are made. The outcome of this activity is a crystal-clear picture of who your ideal customer is and how to speak directly to their needs. This should be in the form of an active document that is updated regularly.
Competitive Research
Identify alternative products. Sometimes, the competition is not another organisation but an existing way of doing things. What default behaviour in the market may prevent your product’s adoption? Know your competition inside out. Understand who your competitors are, and analyse how your product compares. Discover differentiation factors that set you apart. The outcome of this exercise is a document that provides a detailed description of the competition and sets a strategic advantage that guides your positioning.
Positioning
Craft a compelling USP that succinctly communicates what makes your product special. Your understanding of the customer and existing market alternatives should guide this positioning. Remember, the goal is to occupy a unique place in the target customer’s mind, and the only way to do that is to focus on a need that no other product fully satisfies. Use positioning maps to visualise your market and find the sweet spot where your product stands out. The outcome of this activity is a strong, differentiated market positioning statement that firmly connects with the product vision and guides product messaging.
Messaging
While the positioning statements give a singular direction of your brand position in the customer’s mind, you can tailor your messaging to resonate with each member of the decision-making unit. The messaging can directly address their pain points, needs, and aspirations and be adapted to the brand tone of voice and for the chosen channel. The outcome of this activity is a messaging guideline and an active repository of copylines and messages that can be easily accessed.
Go-To-Market
Understand where your target customers are and how to reach them effectively. This is where product marketing connects with other marketing functions. Explore various channels, from online platforms to industry events. The outcome of this is a strategic go-to-market plan that maximizes your reach and impact.
The development and execution of the go-to-market plan must consider the limited resources of B2B Tech startups, but it does not excuse the place of a well thought-through product marketing strategy. Here are some practical tips on bootstrapping product marketing.
Branding – Create a Brand Personality
Having developed the product positioning, B2B tech startups should invest time and effort in defining their brand identity including visual cues, personality, and tone of voice. It includes creating a compelling brand story, designing a memorable logo, and developing consistent brand guidelines. This aspect of branding is a crucial aspect of product marketing for startups. It helps differentiate the startup from its competitors, creates a strong brand recognition, and builds trust with customers. By aligning their branding with their target audience’s values and needs, startups can create a strong and recognizable brand that resonates with their customers.
For startups without the resources of higher agencies or professionals to help with this, online tools like Canva, Xara, Looka and an array of others have proven to be quite valuable. Alternatively, freelancing platforms like Fiverr allow businesses to find resources that match their budget.
Have a Content Strategy
Content marketing is a powerful tool for B2B tech startups to showcase their expertise, educate their audience, and build trust. A content strategy that takes into account the needs of the customer allows startups to reinforce their product positioning in the market. By creating high-quality and relevant content, startups can position themselves as thought leaders in their industry. This can be done through blog posts, whitepapers, case studies, videos, and webinars.
Most startups find content creation an expensive venture however, by a careful selection of online tools and a creative mindset, the product marketer can find and repurpose content in unexpected places. For example, an aggregation of positive sentiments from the comment section of a social media post or a remark from happy customers can make for an engaging customer testimonial video campaign, using online tools. It is amazing the amount of free content creation tools available online. By consistently delivering valuable content, startups can attract and engage their target audience, nurturing them through the buyer’s journey.
Repurpose Content
Startups can maximize the impact of their content by repurposing it in different formats. For example, a blog post can be turned into a video, an infographic, or a podcast episode. This allows startups to reach a wider audience and extend the lifespan of their content.
Leverage Demand Generation
Demand generation is the process of creating awareness and interest in a product or service. In B2B tech startups, demand generation is crucial for driving sales and acquiring new customers. The product marketing function can support this goal by identifying target markets and tailoring marketing messages to their specific needs. Due to limited resources, demand generation in startups must first identify the most viable customer and reach out to them where they can be found. This can be through highly targeted advertising, events marketing, social media, influencer engagement and email marketing. By investing time and effort into understanding their customers’ pain points and addressing them through demand generation strategies, startups can attract qualified leads and increase their conversion rates.
Leverage Social Media
Social media platforms offer cost-effective ways to reach and engage with a target audience. Startups should identify the platforms where their target audience is most active and develop a social media strategy to share valuable content, interact with followers, and drive traffic to their website.
Utilizing Event Marketing
Event marketing provides B2B tech startups with an opportunity to connect with their target audience in a more personal and interactive way. Whether it’s participating in industry conferences, hosting webinars, or organizing networking events, startups can leverage events to build relationships, generate leads, and showcase their products and expertise. When working with a small budget, exhibiting at trade shows or large conferences may not be a viable option. Alternatively, product marketing can collaborate with the sales team to identify and attend relevant events, equipped with the networking skills and sales collateral that enables them to engage with potential customers. Regular and high-value webinars, leveraging the network of industry influencers is also an effective and affordable way for startups to drive brand awareness. Event marketing allows startups to engage with potential customers, demonstrate the value of their products, and collect valuable feedback. By choosing the right events and planning strategically, startups can maximize their impact while staying within their budget.
Embrace Influencer Marketing
Collaborating with industry influencers can be a powerful way to reach a larger audience and build credibility. Startups should identify influencers who align with their brand values and develop partnerships to promote their products or services. The trick for startups is to identify and engage micro-influencers whose rates are within affordable range. Startups can also consider and approach their employees as micro-influencers in their own rights.
Invest in Email Marketing
Email marketing remains one of the most effective channels for nurturing leads and driving conversions. Startups should build an email list, segment their audience, and craft personalized and targeted email campaigns to engage with their subscribers. When done right, email marketing helps to maintain top of mind and support for other marketing activities like content and event marketing.
Integrating Public Relations
PR plays a pivotal role in shaping a company’s reputation and establishing credibility. PR professionals can craft compelling narratives that resonate with the target audience through strategic media relations, thought leadership, and storytelling. Startups must leverage public relations through positive media coverage, awards, and expert opinions to help build trust and establish the company as a reliable and trustworthy player in the market.
Conclusion
Building a robust Product Marketing function is like putting the wind in your sails—it propels your B2B Tech startup forward. By understanding your customers, outsmarting the competition, crafting a strong position, perfecting your messaging, and strategically reaching your audience, you’ll be well on your way to making a lasting impact. Best of luck on your journey!
About the writer:
Tomi Ajiboye is a highly accomplished digital marketing professional with qualifications from CIM (Chartered Institute of Marketing) and DMI (Digital Marketing Institute). Her journey in the world of digital marketing began over a decade ago, and she has been a trailblazer in the ever-evolving landscape of digital marketing in Africa.
In 2012, Tomi achieved a remarkable feat by becoming one of the first individuals in Africa to earn the CAM (CIM Diploma in Digital Marketing). Since then, she has remained dedicated to staying at the forefront of this dynamic field.
