Expanding your Software Products and Services: A Field Guide for Startups


Expanding your Software Products and Services: A Field Guide for Startups

The software and tech industry continues to expand thanks to new innovations aimed towards businesses as well as consumers. For sure there has always been an increasing demand for better software products. This has been made evident by the fact that across the globe, IT spending has increased for the better part of 2017.

According to Statista, the industry has reached $35 billion in revenue. And this has been influenced by new innovations in analytics as well as automation. Added to this the continuing dominance of cloud computing over the need to streamline crucial business operations. In the very same way, artificial intelligence and enterprise software products are being sought to help simplify complex business activities such as marketing and revenue tracking.

Related: Cloudy with a Chance of Fog: A Quick Cloud Computing Update

For the most part, software leaders are tapping into wellsprings for growth, but this shouldn’t encourage startups to remain where they are in the face of rising competition. In fact, there’s a lot for startups to do in order to build their brands and get a better position in their respective markets, whether it’s software-as-a-service or business analytics.

For that reason, we have prepared a nifty guide that will help get things going for your tech startup.

 

#1 Emphasize cybersecurity

Emphasize cybersecurity

Nothing convinces a business more into buying a certain tech offer than knowing a certain product emphasizes security. As cyber threats have become more sophisticated, businesses now require their IT infrastructure to be safe from unwanted access or just about anything that has the potential to paralyze a business. In this sense, businesses at present have a well-defined profile of the software products they want to purchase and chief of these considerations is the assurance that they are protected from certain risks.

For that reason, you should be able to outline the issue of cybersecurity effectively and frame it in line with your client’s specific requirements. Being able to do so will help you foster better partnerships that will add to your brand’s credibility.

 


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#2 Attract VCs

Attract VCs

Venture capitalists continue to be a prominent source of support for startups wanting to increase their clout. Deloitte notes that venture capital is fueling growth in crucial sectors such as artificial intelligence. With that said, it is best for startups to consider attracting venture capital as a means to develop their services and better engage their target clients.

In order to make this possible, startups should begin by improving their internal processes. An IT startup that performs well is more likely to attract big players in the tech market, so it makes a lot of sense for these startups to emphasize the need for skills as a means to make themselves visible to willing investors.

Related: 10 Affordable Marketing Ideas for Software Startups

#3 Collaborate with the competition

Collaborate with the competition

It might sound unusual, especially within tech circles where everyone is at each other’s throats. But if you opt for your startup to survive its first few weeks, you will have to rub elbows with strange bedfellows. Look at it as a strategic partnership where you get to pool your resources and make your enterprises self-sustaining.

#4 Market across the board

Market across the board

When marketing your software products, it’s one thing to rely on social media, and it’s another to consider other channels of engagement. Social media marketing is good and all, but you still have to expand your efforts towards other avenues such as landing pages and email. When it comes right down to generating high-quality software and tech leads, you will have to craft better content that allows you to entice your clients as much as inform of them of the things that matter the most.

Related: The 5 Success Factors of Multi-Channel Marketing Revealed [INFOGRAPHIC]

#5 Share your expertise

Share your expertise

Influencer marketing is everything when your aim is to get everyone to notice your brand. If you have certain ideas or insights that are crucial to your target market, use your blog to air them out. Better yet, you can also consider guest posting on websites and blogs that enjoy greater authority.

Related: Six Digital Marketing Trends Worth Paying Attention to in 2018

#6 Take time to study  the market

Take time to study  the market

As always, there’s no such thing as a business strategy that has been generated from nothing. You have to look into potential opportunities in your respective markets and come up with the right strategies that will effectively address them. This way, you won’t have to waste precious resources trying to figure what to do with what you currently have.

Related: 150+ B2B Tech Marketing Stats to Help You Plan for 2018 [Free eBook]

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