In 2018, the technology industry is expecting to continue to grow at record rates. As technologies such as AI, voice, and virtual reality are gaining popularity, new start-ups are emerging and current companies are integrating these services. This is great for the consumer but it can mean that technology companies become drowned out in the saturated marketplace and often fail before they’re even noticed.
How can you prevent this from happening to your company or the company you work for?
Well, it’s all down to brand strategy or positioning strategy. In fast-growth companies, like tech startups, it is vital to position your brand for success. In order to be best positioned, it is important to be aware of:
1. Who you are targeting
Before you launch or soon after, target audience research will be your best friend. What age are they? What are their past times? What brands do they already invest in? We have written a blog on this here, if you want to read more.
2. What resonates with that audience?
Concept testing, messaging testing, idea testing. This is all done very easily and it is something that will pay off for you in the long run. When you are so close to something - ie. working on a brand or website for months - it is hard to recognise what might not resonate with your audience.
3. Where will your audience first interact with your brand’s content?
What channels are your audience engaged in? Do they use social media? If so, which platforms? What television or streaming services are they subscribed to? What radio do they listen to? Do they have a smart speaker in their homes? What podcasts are on their radar? This is just a sample of the mine of knowledge you should gather about your audience before diving into a strategy.
4. How will they interact with your brand?
Lastly, considering you are a tech company and presumably, the brand is based online and has websites/apps as well as an e-commerce site, it is essential to conduct User Experience research too. How will your audience use your website? What will funnel them through the purchasing process with more ease and with fewer cart abandonments? What user interface will make them want to visit your homepage and take a look.
With all of this research, you will be best setup to reach the right audience, at the right time, in the right place, and have them enjoy the experience. Even one or two of these techniques will help your tech company soar and grow at the high-speed rate you want it to. Provoke Insights, a brand strategy and market research firm based in New York City, offers all of these research capabilities. To find out more, contact us at firstname.lastname@example.org or sign up to receive our newsletter to learn more about the company.