Creating a high-tech product is a long-term task. However, when the product is complete, the business is just beginning. It’s time to market effectively and reach out for funding, so that you’re ideal investors hear about your product.You may even be actively looking into how to increase sales. Now, more than ever, it is essential to be transparent with investors and early adopters. You need an effective way to track and justify the costs of marketing to your potential investors in order to increase sales.
A Go-To-Market Strategy is Essential to Increase Sales
According to HubSpot, a go-to-market strategy is key. There are five steps in the process that your sales team can follow to maximize the number of potential customers you reach as you release your new high-tech product.
1. Determine your buyer persona: Before you launch your product, you need to know who your product is for. When you create your buyer persona, include demographics, their back story, motivations, goals and behaviour patterns. The more details you have, the more you will understand who you are really selling to.
2. Consider your persona’s value matrix: A value matrix breaks down the persona’s likes, dislikes, business problems and a marketing message to provide the reason why you have just done all the work to create a persona. The value matrix is the link between the persona and the strategy that your sales team will use.
3. Define your content strategy: Now you need to determine the content creation strategy for your particular persona. Not everyone engages with the same type of content. For example, there are people who prefer to watch a video instead of reading a blog. If you are looking for early adopters of a high-tech product, think of how they consume content. Perhaps a podcast or short informative blogs are best, because they are busy with meetings and their own businesses.
4. Adjust your plan as needed: Even the best laid plans need reworking. Allow yourself the time to correct your strategy when you identify what isn’t reaching your target audience. The use of software such as HubSpot allows your sales team to track engagement, sales processes, and the ROI on marketing campaigns.
5. Work at the relationship: Customers appreciate building a relationship with businesses they buy from. Making sure the beginning stages of a go-to-market strategy are solid (by truly understanding your customers) so that your target audience feels heard and understood. This builds trust and provides warm leads for your sales team.
How to Increase Sales Using Inbound Marketing
The go-to-market strategy will get your sales team in a position to launch your high-tech product, but inbound marketing principles are what will keep the sales rolling in. There are three key stages of inbound marketing:
1. Attract: Inbound marketing attracts people to you, not the other way around. Your brand, creative content and connection to potential customers will attract the ideal investors and customers for your company.
2. Engage: Now you can use the content you’ve created to build relationships with potential customers. Let these leads interact with your sales team on their own time and in their preferred channels (e.g. email, social media or blog content). This is where you put the customer’s success over your desired close rate.
3. Delight: The sales process does not end when the deal is closed. Now you need to continue to cater to your customer so they feel supported and become raving fans of your high-tech product. The referrals from your delighted customers are what will keep leads coming to your sales team.
Keep Sales Leads Rolling In with Inbound Marketing
Using all the data you collected in your go-to-market strategy, you can effectively launch your high-tech product. As a part of your continued inbound marketing strategy, content creation can be done in-house by your marketing or sales team or you can outsource to an inbound marketing firm.