Posted: March 04, 2011
Five marketing essentials companies need to know
Radish, diary of a tech startupBy Theresa M. Szczurek
Startups do not need a marketing budget! That is what Brad Feld suggests in his article "Why a New Start-up Shouldn't Have a Marketing Budget." This shocking statement does get your attention, especially since Brad then says, "Of course marketing is a key part of the success of these companies. However, it's wired into the DNA of the business, not an extra thing that is attached on," Okay, so marketing is very important and here are ‘Five Essentials about Marketing' you need to live and breathe so as to make your company succeed.
Realize that marketing is more than promotions. Marketing is the system of activities involved in bringing the right product, at the right price, through the right channel (or placement), to the people whose pain the product solves, via the right promotions. Marketing results in exchange - something of value (money) being exchanged for something of value (your product or service). Here are the key 5 "Ps" of Marketing.along with examples of how Radish Systems is using them.
1. It's all about the PEOPLE. Make sure your business is market and customer driven. Make sure your innovation solves real market pain. Know your market.
Case Study: Radish solves the problem that it is difficult to quickly get good business information. People hate reaching an interactive voice response (IVR) system with long phone trees. A bad call center experience, which may start with a frustrating IVR, is why 63% of customers, says Purdue University, stop doing business with a firm. Radish also solves the challenges of quickly finding the right information through a website in order to complete a business transadtion.
Radish targets firms with a contact center and/or IVR with mobile device users in a closed user group. Scosche Industries, an auto accessory/electronics distributor, uses ChoiceView for tech support with 1000's of installers. Prospects are in field tech support, healthcare, hospitality, mobile retail, and financial areas.
2. Introduce the right PRODUCT. Make sure your product and service is solving the customer's needs. Don't have technology for technology sake.
Case Study: Radish ChoiceView just 2/28/2011 won the prestigious Innovation Showcase award at the Enterprise Connect show. Read more here. ChoiceView solves the above stated problem and changes the way people access business information. ChoiceView transforms traditional IVRs into Interactive Visual Response systems, saving users time and frustration. ChoiceView also allows live agents to seamlessly share visual information while talking with a mobile device user. The result is faster, more rewarding communications by delivering "WOW, NOW IT SEE WHAT YOU ARE TALKING ABOUT" moments.
Radish 2.0 develops, sells, and supports ChoiceViewTM - a disruptive, patent-pending platform with endpoint software and Software Developer's Kits (SDK). Sold primarily through resellers or OEMs, enterprises license ChoiceView software for live and automated agents in their call centers and equip their mobile stakeholders with a ChoiceView-enabled App. Radish's ChoiceView increases comprehension, problem solving, and recall by as much as 50 percent over just hearing the information and improves the way businesses interact with its customers, field force and other mobile stakeholders.
3. Establish the right PRICE. What is your market's willingness to pay? Is your price higher than your costs (so you can make money) and within the willingness to pay and within the competitive range?
Case Study: Radish ChoiceView App for iPhones and iPod touch is available now at the Apple App Store for FREE. Try it here. Radish has priced ChoiceView for enterprises with early adopter pricing to ensure easy adoption and diffusion. For qualified businesses, Radish offers a FREE pilot. Ask for an invitation by contacting Radish via www.RadishSystems.com.
4. Develop the right channel (or PLACEMENT). How do you bring your product / service to the market? Do you go direct or indirect through some channel partners?
Case Study: Radish is building an Alliance of supporters and resellers including: mobile web / app developers, contact center/IVR resellers, and Business Process Outsourcing Centers (BPO) that outsource ChoiceView services. Additional partners include: mobile device, call center, and other device manufacturers (or OEMs) and wireless telecom service providers. Radish also works with referral sources. Who do you know that needs to know about Radish? We would love to reward you for opening the right door.
5. Actively PROMOTE. .
Promotions covers 1-1 and 1-many communications including Selling. This is what many think of when they think of the term Marketing, but Marketing is so much broader. The purpose is to: build awareness, generate leads, and move leads to want to take action to buy your product.
Case Study: Here are just a few examples of Radish's promotional activities.
MOBILE WEBSITE. The Radish mobile website has gone live. When you go to www.radishsystems.com from a mobile device, it will automatically direct you to our mobile website. Tap on the "Download ChoiceView" link from an iPhone and get ChoiceView now from the Apple App Store. Of course, go there from your desktop/laptop and you will experience our main website.
PUBLIC RELATIONS. Check out the media releases/coverage at www.RadishSystems.com/media-center/ including our newest announcement of the Innovation award (see above). SPEAKING.I will be speaking 3/2/2011 on the keynote stage at Enterprise Connect about Radish ChoiceView. RADIO INTERVIEW. Listen to this radio interview on w3w3.com about Radish.
SOCIAL MEDIA: Follow Radish Systems on Twitter @ChoiceView or LinkedIn or Facebook
HEALTHCARE VIDEO. Also, have you seen Radish newest video, ChoiceView in the Healthcare Industry. Check it out . While you are there, why not like the video, post a comment, and become a fan of Radish Systems on YouTube? See the other two videos posted on youtube and at our website.
HEALTHCARE BROCHURE. Since Healthcare is one of our industry focus areas, our VP of Sales, just attended the HIMSS conference in Florida (Healthcare and Information Management Systems Society) show holding meetings and building our sales funnel. We are getting a lot of interest in ChoiceView in this segment. There are many collateral pieces at www.RadishSystems.com
NEW DEMOS. Along with this, our Radish 24/7/365 call center is equipped to do additional ChoiceView demonstrations. Call the Radish corporate number (720-440-7560) from your iPhone equipped with ChoiceView. After the Interactive Voice Response (IVR) demonstration, tap "talk to Sales." You can ask for seven live ChoiceView demos: Radish introduction, Oracure (pharmaceutical professional to physician), Physician coaching (healthcare professional to patient), m-commerce with an upsell (TicketMaster), Cable company, hotel booking, Scosche (tech installer calling back to tech support center.
SELLING. Radish is seeking to hire additional qualified outside sales representatives. Check out the careers section of our website.
Say yes to Marketing and take your firm to the next level of success. Ensure that you have the right product, priced correctly, that meets the needs of your market (people), in a way that is placed through proper channels, and actively promoted.
Theresa M. Szczurek, Ph.D., co-founder and CEO of Radish Systems, is a serial technology entrepreneur. The story of her last start-up, which sold for more than $40 million in less than six years, is included, along with her strategies for success, in the Amazon-bestseller Pursuit of Passionate Purpose: Success Strategies for a Rewarding Personal and Business Life. www.RadishSystems.com, www.radishsprouts.typepad.com and @TheresaSzczurek on twitter.