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The Software Business Advisor newsletter, Mar 2013
February 28, 2013
Software Marketing Strategy
The Software Business Advisor is a free monthly newsletter aimed at helping software vendors make sense of the changing software industry. It provides tips, techniques and tools to assist in software business planning, software sales, and software marketing.
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Included in this issue:
1. Software Marketing: Taking an Iterative ApproachThe most important thing to remember about marketing is that there is no one "right answer". There's no single magic bullet that is going to make your software sell: not Adwords, not direct mail, not email marketing.... those are all tools in your arsenal.
Marketing is most effective when it's done iteratively: try something small, measure the impact, and repeat or try something else until you find the best combination for your business.
That doesn't mean there shouldn't be planning involved. But planning should be done in parallel, and involves learning more about your customers, their pain points or needs, and refining how your software meets that need.
So the most important tip about software marketing? Simple: just get started! If you need a little push to get started, then consider an
affordable coaching session to get you going.
2. New Membership ProgramWe have just launched our brand new membership program. As a member of Software Marketing Advisor you will get access to all our templates and business/marketing plans, coaching and mentorship to help you put them to the best use, helpful master classes to learn in collaboration with your peers.
Pricing starts at just $15/month, or $144/year (a 20% discount, so you get over 2 months for free). Choose the membership level you want to get the software marketing help you need.
As a Basic member, you get access to all our downloadable plans and templates (business plans, marketing plans, proposal template) plus a little coaching and access to a quarterly master class to get you started.
Choose the Standard membership if you want a little more help. As a Standard member, in addition to the above you will get a monthly coaching session and master class, and a written review of your business or marketing plan, updated annually.
If you need more software marketing help, then sign up for our Premium membership, which includes biweekly coaching, publicity (we will write a quarterly press release, or other marketing material, and publicize it for you), customized market and competitive analysis, and access to additional premium content such as market research reports.
For more information or to sign up, check out
our membership page here
3. Software Business Opportunities in Big DataThe challenge of "big data" represents a significant business opportunity for software companies today. Business customers are challenged by escalating amounts of heterogeneous data that they want to mine for business value. But traditional data management tools are not meeting that challenge. If you or your software firm have expertise in data analysis, data storage, search or realtime analytics then now is the time to really take advantage of this wave.
A recent report by Wikibon evaluated the big data market. They estimate a current big data market size of about $5B, and project it to grow an order of magnitude by 2017 to $50B worldwide, with an annual growth rate of a very strong 58%. In March, IDC provided a somewhat more conservative market size estimate, but still with healthy growth - $3.2B in 2010 to $17B in 2015.
This big data challenge represents real opportunity for software companies and other tech firms alike. Dan Vesset, program vice president, Business Analytics Solutions at IDC, noted that there are "opportunities for both large IT vendors and startups. Major IT vendors are offering both database solutions and configurations supporting Big Data by evolving their own products as well as by acquisition. At the same time, more than half a billion dollars in venture capital has been invested in new Big Data technology."
Likewise, a recent McKinsey report states that "Big Data will also help to create new growth opportunities and entirely new categories of companies, such as those that aggregate and analyze industry data. Many of these will be companies that sit in the middle of large information flows where data about products and services, buyers and suppliers, and consumer preferences and intent can be captured and analyzed. Examples are likely to include companies that interface with large numbers of consumers buying a wide range of products and services, companies enabling global supply chains, companies that process millions of transactions, and those that provide platforms for consumer digital experiences."
To start planning your big data software business, take a look at our
software company business planning package which you can download here.
Comments? Ideas? Feedback? I'd love to hear from you. Just reply to this newsletter and tell me what you think!
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