Spectral Capital Promotion is well-known for being a “technology accelerator.” As such, we come across new company after new company that wants some financing, but they seem to have no idea how to make their innovative products marketable and profitable. While excellent products are certainly a must, only excellent marketing techniques can change an idea into big business and big money.
At Spectral Capital Promotion, we have noticed that many entrepreneurs employ experienced marketing reps too soon. This slows down revenues in the present and also in the future. Many would-be professionals believe that experienced sales personnel will equal big sales and big profits.
It simply is not so. Sales reps want new companies to provide them with polished marketing tools such as beautiful literature, great websites and on-line endorsements from stand-out customers who buy a lot of product. Additionally, while they may have plenty of great contacts, these sales reps want those promotional supports and also office personnel they can count on.
Young companies just don’t have the information sales reps need to sell the products. So, if the company staffs with veteran sales reps, it can expect poor moral and failure. And, it is all caused by hiring a sales force too soon and equipping them poorly.
What is really needed is entrepreneurs that get out there and hit the road themselves. They need to speak to potential customers themselves and sell the product they created and know so well. Even if they don’t know marketing, customers will be impressed by how well the entrepreneur/inventor knows what he is trying to sell. He has a natural desire and passionate interest in the product, and he can even make changes in it easily because he is the brains behind it. This ability to adapt is so important in the early days of the company.
In addition, the founder of a company who is brave enough to engage in cold calling will get a good grasp on marketing. He will lead his people better as the company grows and changes.
It’s true that tech savvy founders are nervous about engaging in marketing and sales. However, the product will not sell if entrepreneurs don’t do it. When founders get themselves involved in a sales pitch, promotional scheme and sales materials that really convey the message, then sales will increase. That’s the time to hire outside marketing people.
At Spectral Capital, we have come to understand that involving the founders of a company in product marketing early on pays big dividends in sales and profitability. So, entrepreneurs and inventors, use your technical expertise to personally build a customer base that your sales force can easily connect with and improve upon as your business cycle develops.