After an initial period of fast growth, maybe as a start-up, many young technology companies continue growing, but at a lower rate. They have usually built a diverse client base and are profitable, self-funded entities able to feed their development.
To continue growing and stay competitive, an emerging tech firm must build upon its rising position by professionalizing itself and by honing its business model and supporting functions, all to better serve its clients in the evolving marketplace.
Based on the company’s current situation, this might imply:
- Projecting professionalism and scale beyond its existing resources
- Building its reputation and brand promise by better meeting client expectations
- Improving its existing client customer value propositions
- Developing new and innovative value propositions to enter or create new markets and drive additional growth
In this context growing tech companies face several challenges:
Innovating new products, services & client experiences
New products and services are the lifeblood of any company.
While most tech companies invest significantly in R&D most innovative ideas come via other routes.
Innovation is about applying new ideas to create value. To sustainably generate new value and fuel growth companies must develop a practical innovation framework, including the resources to make it work.
Merkado will help support your innovation programs by:
- Exploring and charting new opportunities with research into identified, unmet or unarticulated client needs
- Generating precious market & client insights with various methods
- Designing client value proposations using innovative business models
- Delivering winning business ideas by testing new concepts and analyzing early user experiences
Breeding high performance product & marketing initiatives
When designing and executing a new marketing strategy it is hard to build a team with expertise in all areas.
As a company grows, Marketing and Product leaders will try new initiatives that were once hard to justify.
This may include C-level thought leadership programs, a consultative value selling approach, digital marketing, or simplifying the customer buying process. In many cases firms only have one person handling new initiatives.
Kick-starting new product and marketing programs with Merkado offers several advantages:
- Ability to quickly and flexibly try out new initiatives while controlling costs
- Access to professionals with proven experience creating client value and business growth
- Knowledge transfer to your in-house teams, allowing them to take over following successful pilot projects
Managing temporary marketing needs
Marketing and product functions are fundamental to any well-structured client-driven company.
If a Marketing or Product leader is lacking staff resources – due to sickness, turnover, or a maternity leave – this will affect commercial operations, impacting the business.
While hiring may seem like the natural solution it can take months, and may not be suitable to cover short-term staff leaves.
With Merkado to manage your interim marketing needs you benefit from:
- Access to highly experienced people in market research, strategic marketing, product management, product marketing, all with a technology focus
- Flexible and on-demand professionals driven by delivering high-quality results with tangible business value
Merkado helps growing tech firms address their evolving challenges using our range of dedicated client services, tailored to your business needs.