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Wednesday, May 25, 2011

Why Startups Should Focus on Marketing Strategy (by Pooja Khanna)

While discussing marketing strategy with a friend of mine who is also the founder of a startup said “All our marketing strategy efforts to date have been secondary to building out a product people want to use.  Once we nail the product however, we hope to spend much more time (and money) on bringing that product to as large a market as we can”.

As a marketing strategy expert I found this position completely wrong –

1. How do you know what “a product people want to use” is, without talking to the people?

2. How do you know how many people will sign-up for this product without assessing the market? The founder was so in love with the product but does not know who the customer is. Twitter is poor example here, yes it was build without thinking of which market it would address, but only 1 in a million startups will succeed like Twitter without an understanding of the market.

3. The idea of “bringing that product to as large a market as we can” is also wrong on many levels.  Startups should build on small success, capture the market in one niche and then build on that success.

Startups have limited funds for marketing and getting to a profitable position or even keeping the cash flow positive is challenging, under these circumstance it is understandable that marketing cost should be kept low. Startups should work with marketing experts who understand the startup mentality and are capable of devising effective marketing strategies with very tight budgets.

When did you get marketing strategist involved with your startup?

About the Author:

Pooja Khanna (CEO Blueknee Marketing) specializes in developing marketing strategy, competitive analysis and pricing strategies. He is also the owner of the LinkedIn group
Marketing  for Startups .
You can follow his regular blog contact him via email – pooja@blueknee.com  .
I want to thank the Pooja for this Blog article. I am pleased he asked me to join his group on LinkedIn and that he agreed to write a guest article for this Blog!

You can follow Taffy Williams on Twitter by @twilli2861 and you can email him with questions at twilli2861@aol.com. His company website is  http://www.ColonialTDC.com and he writes for the local Examiner Paper.  He is a member of the group Startup Group on Linkedin. The blog is now listed on Alltop®.