Thursday, March 16, 2017
#geek - #Let's say you have $20K and you can spend it on getting to the market the software of your dream
Let's say you have $20K and you can spend it on getting to the market the software of your dream
Let's say you have $20K and you can spend it on getting to the market the software of your dream.
My question is - would you spend the entire budget on product development and later rely on the word of mouth (because your product is awesome), or you would split up the budget between development and promotion?
I personally wouldn't rely on the word of mouth.
1. Even if you have a good SaaS product, you can't scale the word of mouth channel.
Even when it works well, word of mouth doesn't last forever. Companies hire marketers and develop marketing strategies because this becomes necessary for further growth and development when the initial burst from word of mouth dwindles.
2. Your company will not be able to grow steadily without a clear marketing strategy.
Let's take Groove as an example. The company received traffic when they got news coverage, but it came in small and uneven amounts. When the company decided to start blogging, activity on their website grew from 100 people per day to more than 1,000.
3. An awesome product is not enough to draw investors' attention.
Investors won't lend money to a company that relies only on word of mouth. If you want to draw their attention, you must have a clear marketing strategy.
4. It is more expensive to build a company just with a great product, than with a great product AND marketing.
Development and support of your product requires a lot of money, but a proper marketing strategy can help you find the best way of distributing your product from the very beginning.
5. Marketing matters for the most successful companies
Think of Salesforce. This enterprise spends about half of its budget on marketing. Even more interesting is the fact that, despite these already large figures, its annual marketing expenses are actually rising each year.
That's just my opinion. What do you think?
P.S. Arguments and facts are taken from http://ift.tt/2nvZlqY
Submitted March 16, 2017 at 02:40PM by NonMathGirl
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Lego Tape. The future is here! (x-post from /r/productporn)
Submitted March 16, 2017 at 02:12PM by Panda_911
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When you move to Poland and the local ISP drops a pamphlet (Bez = Without)
Submitted March 16, 2017 at 07:36AM by tobsn
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