Make Informed Marketing Decisions

Everyone’s curious about ChatGPT and trying out all kinds of queries to test the technology.  We decided to ask it to write an article about ISV Marketing and this is the result…

I spend a decent amount of my time each day on business development.  Getting our message out into the world so that we can serve more customers is big part of my mission.  When I look at our wins and our losses, I realize that I have bumped up against one reason in particular why people don’t want to give us a try that I just had to address.

If you haven’t hyper-segmented your market as part of your marketing plan yet, 2023 is the year to do so!  Hyper-market segmentation not only helps you send the right message to the right people every single time, but it also helps retain customers in the long run.  

In business, there are plenty of factors that spell success, and many of these factors are a result of our ability to satisfy customers. In today’s competitive market, it is very important for businesses to have a loyal customer base and a steady stream of new customers coming into the fold. Without this, it will be very difficult to sustain business in the long run. This is why customer retention strategies and processes are so important, and it is also why many companies work hard to improve their customer retention rates. 

Anyone who has gone through the customer journey and purchased your products or services can be considered an existing customer. It is critical that they are satisfied with their purchase in order for them to become repeat customers and even advocates for your brand. But if you really want to build a lasting relationship between your brand and your customer base, then you will need to increase your marketing efforts toward existing customers. 

Marketing is one of the most important aspects of running a successful business, but it can also be one of the most expensive. If you’re not careful, you can easily blow your entire marketing budget on one campaign and be left with nothing to show for it.

As a business owner, one of your core functions is to make informed decisions. And to do that, you need to gather accurate and up-to-date information. So whether you’re trying to assess a new business opportunity, understand your competition, find the right price point for your product, or simply get to know your customers better,  information gathering is a critical part of the process. 

I love this new term, “done with you” services.  I don’t know who coined the phrase, but I think it’s great!  It used to be that people would outsource certain business activities (especially marketing) to third-party vendors, that worked in one big black box. Not only would you have no clue who was working on your project, you had little to no visibility into what was actually happening in the background. 

Whether you are looking to generate end-user leads or build your pipeline of potential ISV-OEM partners, reinventing sales pitches means putting forth a consistent and concerted effort.  The language you use needs to be relevant to your target audience; staying up on industry trends is, therefore, a must.  

In order to be outstanding at marketing, it’s important to question everything you do all the time.  And the real key to getting super good at marketing is something you may not believe: it’s getting comfortable with things not turning out the way you planned.