A BIG problem for tech companies
A BIG problem for tech companies.
I received this email today, which expresses a very common problem companies encounter when trying to scale.
“Hi, Richard. I am battling something: How to go from “Clever” to “Commercial?” I have been involved with two tech builds and what has frustrated me beyond measure is the extremely favorable response to the technology, yet getting adoption and traction is a lengthy, laborious process.”
It’s easy for us to fall in love with our “clever” ideas. We “know” that we can make millions. “We can change the world!” Right?
But let us not forget: “Love is blind.”
There’s a big difference between having a “clever” product that you love and having people PURCHASE THAT PRODUCT.
It all comes down to MARKETING.
I find there is no one magic bullet for marketing success. Instead, there are dozens of magic bullets that need to be firing simultaneously.
If I can give one piece of advice, this is what it would be:
IDENTIFY your target market. KNOW their NEEDS and WANTS. KNOW what WORDS and MESSAGES will trigger those NEEDS and WANTS. Know all this BEFORE you spend money on marketing.
In other words, do your market research.
For more tips on how to scale your business and increase your profits, please download my e-book for FREE, Unlock Hidden Profit Zones.
I help businesses grow and achieve more profits. I work with a network of founders and investors. Need help with your fintech business? Give me a call, let’s chat.