Tips for a Slow Software Market
How can you win in a slow software market? What are some ways for a software provider to continue to increase sales and/or grow market share when overall business is down?
The key point was made very well by Mick Liubinskas's advice for a slow software market on his "Web Strategy" blog: "if your product is about reducing risk or reducing costs and the return is clear and short" then there could be opportunity.
That's something every business software provider should take to heart: in the current times, folks need to look at their messaging and how they're selling, and keep laser-focused on developing a value statement showing customers how they address immediate financial painpoints... if possible.
Four Marketing Strategies for a Slow Software Market
Now is the time to focus keenly on sharpening your sales and marketing, so here are four important strategies for dealing with a slow software market:
- Develop a crystal clear, detailed profile of your target customer. Make sure every marketing message and sales effort is focused on only customers that fit that profile.
- Refine your customer value proposition. If your product supports it, develop a clear short-term ROI story for your customer base and use it in your sales efforts.
- Keep your sales focused on leads that fit your target customer profile. Follow these top tips for strong software sales to the letter.
- Update your marketing strategy and plan to reflect the current economic times and market conditions. If you developed your plan when economic conditions were rosier, it may no longer be as relevant as you need for your business to stay strong.
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