Every tech entrepreneur that starts a business has the same primary goal in mind. And getting there as fast as possible is understandably important. But 3 mistakes can kill a tech startup’s ability to succeed.
In her article on Entrepreneur, Inna Semenyuk discusses 3 Marketing Mistakes that Kill Tech Startups:
Chasing media fame too early
In the ever-changing world of technology, time from concept to launch is critical for startups. However, some tech entrepreneurs believe so much in the idea of their product or service that they fail to work out all the kinks prior to proclaiming its awesomeness to the world.
“Think of Elizabeth Holmes and Theranos as both the best example and the worst-case scenario. Founders want to share their vision with the rest of the world and chase press coverage before the company has been tested and proven,” said Semenyuk.
Relying on growth hacking
Growth hacking, the process of experimenting with non-traditional marketing tactics to discover the most efficient and most effective way to quickly scale, is common for tech startups. However, a startup that expects fast growth before getting stable footing is likely going to face greater challenges.
“While growth hacking is an agile way to quickly find channels that reach your audience, it ignores a fundamental aspect of marketing: relationships. Focus on reaching your small group of believers first. Speak to what they want and need. In turn, they will eventually become brand advocates, spreading the word among other like-minded individuals and helping organically grow your reach,” say Semenyuk.
Spreading yourself thin
We are all exposed to so much content in our daily lives. The problem is, much of the content we are exposed to is likely of little interest to us. Tech startups that that blanket every blog, video and social media channel are wasting resources and spreading themselves too thin.
“Instead of chasing every opportunity, do your research and discover where your audience is. Focus only on high quality and the channels tailored to your audience that bring your best results. Not everyone is a potential customer, and the sooner you realize that, the better,” says Semenyuk.
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