Published on March 6th, 2018 | by Jose Vasquez1
The 5 Ways Startup Tech Companies Waste Money on Marketing
Marketing is an important investment for startups, but too many tech companies end up wasting their budgets.
Marketing is the only way to raise awareness of your brand and generate more traffic to your site, making it nearly essential for a startup’s survival. Unfortunately, most startups realize this, but end up wasting money on marketing strategies that don’t work.
These are just a few of the ways startup tech companies lose money on marketing:
- Not investing enough. Ironically, if you invest too little in a marketing campaign, you could end up losing that money. Most campaigns require a minimum threshold to start seeing results, so if you aren’t investing enough, it could result in waste.
- Choosing the wrong strategies. If you invest all your money in paid advertising, but your company is better suited for SEO or content marketing, you could end up seeing far lower returns than your potential would otherwise allow. There are many strategies out there, so you have to choose what’s right for you.
- Trying for a gimmick. Guerrilla marketing tactics and similar gimmicks may sound cool, but the likelihood that they’ll provide you an ample return is low. Avoid gimmicks whenever possible.
- Not measuring results or improving. If you aren’t measuring your results, how can you know what’s effective and what’s not? You need to measure and analyze each step of your campaign, then use those insights to make improvements. Otherwise, you’ll be throwing money out the window.
- Investing in the wrong people. This is a big one. The people you pay to execute your marketing campaign are your most important investment; if you invest in low-quality people, or an agency that doesn’t give you your full money’s worth, you’ll exhaust your marketing budget before you even start to see results.
Your marketing campaign has the power to make or break your company, so it’s not something to take lightly. Spend your money wisely, and make the most of that budget. If you’re interested in help, or if you’re just getting started, contact me today and we’ll work through a campaign that works for your company.