In a Vibrant, crowded, noisy sector.
There is no doubt that the UK’s ICT sector is incredibly vibrant. Its 219,000 1 companies account for nearly 6% 2 of the UK’s total GDP, over 4% 3 of employment, and the sector spawns 36,000 1 start-ups each year.
All of these companies are “making noise”; trying to persuade investors to invest; influencers, journalists and analyst to say good things about them, their technology, or their products; or simply to convince customers to buy their “stuff”. However, despite the passion, technical expertise and innovation of these companies, it’s a sad fact, 16,000 1 ICT businesses fold each year and only 47% 1 of ICT start-ups will survive for the long term; the rest will fall by the way side, within their first five years.
This astonishingly high failure rate isn’t due to a lack of vision, or technical expertise, but rather a failure to adopt an appropriate marketing strategy. Research shows that the top seven reasons why businesses fail, can be directly linked to an inadequate approach to marketing 4.
Sources: 1. Office for National Statistics, UK. 2. DataMarket. 3. OECD. 4. Hiscox plc.
Enhance your marketing.
Don’t repeat the mistakes of the wrong half of the sector. Focus on three core areas to enhance your marketing and start the journey towards achieving your ambitions.
Your brand identity, isn’t your logo. It’s how you are perceived. It is a perception that is created not just from your name, logo, colour scheme, copy, imagery, secondary graphic, et al, but how you act. Your office environment, how you onboard new employees or resolve a customer service issue, are as much elements of your brand as the colour of your logo.
Like a gentleman’s shoes, your brand identity is fundamental to signposting your business and what it stands for. Executed correctly it can be a key source of differentiation and make you stand out from the crowd.
Stand back. Take a dispassionate look at your “shop window”. Now ask yourself, “What would a potential investor, analyst or customer think?”
A value proposition is not a description of what your product does, but the benefits it delivers to its user and its uniqueness to your competition. Unless you are able to clearly and concisely articulate who your product is aimed at, what benefits it delivers (or the problem it solves), and why it’s unique, how do you expect anybody else to know?
A clearly defined value proposition is the foundation of your marketing strategy. Without a clearly defined value proposition, you may as well build your business on quicksand. Let’s be very clear, describing your product as “a multifaceted, software defined widget, to enable fine grain control of things” is not a value proposition.
Could you answer this question, convincingly, in less than 1 minute, “Who we are targeting, what problems we solve for them and the benefits we deliver, and why we are unique?”
A campaign is not a random set of activities. Guided by the value proposition, it’s a set of planned, co-ordinated and targeted activities, which may need to span a range of disciplines, but all are focussed on achieving a specific objectives – generating high quality leads and driving conversion. Progress towards these objectives are measured and execution optimised to keep it on track.
Many organisations will try to “brute force” business development, however this isn’t a route to sustainable organic growth. Once your address book (or that of your recent Business Development/Sales hire) is exhausted, then what?
Considering your marketing and sales pipeline, “Are there sufficient high quality leads being generated, at reasonable cost, from diverse sources, at an acceptable conversion rate, to fulfil my ambitions?”
If your answers to these questions leave you feeling uncomfortable, don’t panic. Light the Fuse are here to help. Our outsourced marketing services, delivered by a team with a proven track record, help companies just like yours to grow and thrive.
Let’s go on a journey and achieve your ambitions, together.
You wouldn’t let a marketeer write your software.
Just like writing software, designing hardware, or any other engineering discipline, marketing is hard and encompasses a wide range of disciplines. Effective marketing skills take years of experience to develop and hone. Placing a critical element of your company’s survival in the hands of an amateur, is a risk you simply can’t afford to take. However, we recognise outsourcing isn’t the right approach for every business. Over the years, we’ve come to realise that the success of an engagement is uniquely influenced by the characteristics of our client’s leadership.
If you recognise yourself from the description below, outsourced marketing could be the right approach for you.
You are willing to challenge convention and make bold decisions to change and drive your business forward.
You understand the value of marketing and the impact it can have on your business.
You are completely focused on the performance of your business and managing risk.
You are willing to invest in activities that unlock, amplify and maximise growth in your business.
OUTSOURCED MARKETING BENEFITS.
Light the Fuse provide effective and flexible, outsourced marketing solutions for ambitious telecoms, technology and internet of things businesses, that have little or no in-house marketing expertise. In addition to providing a clear path to growth, our clients see a range of benefits from working with us, as their outsourced marketing partner.
Marketing is a very broad discipline. Finding all the skills you need in a single marketer is difficult. At Light the Fuse we flex your marketing team, based upon the skills required to deliver a specific result; using subject matter experts as required.
Our integrated multi-disciplinary team, rapidly create, deliver and optimise campaigns, minimising the need for additional agencies.
Recruitment can be very costly and results in fixed costs you may not be prepared to absorb. An in-house marketing team will also typically use agencies to plug gaps, adding further costs. Light the Fuse provide your marketing team, plus access to all our agency capabilities, for a single fixed monthly fee.
Whether the goal is increased sales or positioning the business for an exit, investing in the right multi-disciplinary marketing team, acts as a catalyst for growth, leading to increased business value.
You are faced with a Decision.
Do nothing. Leap into the unknown and risk recruiting an in-house team. Or outsource your marketing to Light the Fuse, a team with a proven track record of delivering marketing programs that help ambitious companies, like yours, grow and thrive.
Let’s go on a journey and achieve your ambitions, together.