The March 29th Wall Street Journal article “The Big Firms Mentor Start-Ups on Their Image” by Emily Glazer in Cincinnati and Suzanne Vranica in New York is an interesting report on companies that mentor start-ups.
For me, though, the most relevant part of the entire article were these two quotes:
Yet some tech entrepreneurs are oblivious to the importance of branding. They “would tell people about the technology rather than focusing on what problem the technology solved,” Mr. Kitts said. [Tracy Kitts is acting chief executive of the National Business Incubation Association.)
“Most start-ups think of marketing as ‘Hey, we’ll have a great URL, a funny new name and a logo and hope that word-of-mouth takes off,’” said Bob Gilbreath, who leads marketing strategy for venture capitalist group CincyTech. “The best way to do it, the basics of marketing, is understanding what the target audience need really is … doing research, talking to possible customers.”
Both of these comments apply to tech start-ups as well as many other small businesses. A “funny new name” is not enough to make a product or service a great success.
Marketing needs to be an integral part of any company’s ongoing operations. And keeping your eye on who are your target audiences is a key part of any company marketing strategy.
Kitts’ comment about “focusing on what problem the technology solved” is exactly what potential customers and clients want to know about any product or service they are considering buying.
With the advent of the new format for Facebook Pages, companies are going to have an expanded opportunity to answer this question for their target audiences.
Marketing does matter.
© 2012 Miller Mosaic LLC
Phyllis Zimbler Miller (@ZimblerMiller on Twitter and @ZimblerMiller on Pinterest) has an M.B.A. from The Wharton School and is the co-founder of the WBENC certified online marketing company www.MillerMosaicLLC.com
Phyllis’ newest ebook – HOW TO SUCCEED IN HIGH SCHOOL AND PREP FOR COLLEGE – is now available at Amazon’s Kindle store.