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The importance of effective communication and its contribution to a company’s success is a point regularly emphasized by conference panelists and forum speakers. But for many founders, that advice fuels frustration with how to prioritize communication and a lack of understanding of practice.
This article combines insights from investors, customers, advisors, and founders with actionable recommendations for both start-ups and growth-stage leaders expanding their corporate influence.
Why Marketing Communications Matter
Marketing communications combine the use of messaging with a wide range of tools to communicate with your target audience as you engage customers, build relationships, raise money, increase awareness, and expand your influence.
Defining marketing communication in the singular limits its impact. His partner Adam Lipman, managing Ecliptic Capital, said: ”
It may be tempting to build tools that you can touch, hear, and see right away, but applying thoughtful strategies in the beginning has a lot to do with how successful those tools are.
dangerous misunderstanding
Regardless of the innovation of the device, therapy or service, everytime This includes the customer’s option to do nothing. “We do it enough problem‘ says Lippmann. “If what is currently being done is considered good enough, what is the incentive to improve or change it with your ideas?”
Comparison is a popular way to understand the unprecedented concept of disruptors. Wearable devices that do what no one else does are at least classified and compared to other wearables. Innovative concepts for improving cardiovascular patient outcomes are compared within broad categories of cardiovascular care. No matter how unique you are, believing that no one will challenge your success is a false sense of security and requires a positive message.
Koda Health co-founder and CEO Tatiana Fofanova warns:
An analogy I use when formulating a message to a client is defining a “seat at the table.” This greatly increases the benefits your solution offers and the beneficial role it plays within the ecosystem, regardless of who or how many competitors are sitting with it. clear.
Connect the dots strategically
You need a communication strategy that connects all the dots to set your company apart from the competition and to inspire action from your investors and customers.
Michelle Stansbury, vice president of innovation and IT applications at Houston Methodist, said: “But I want to know what problems they are solving to understand what I can get out of using their products. Do you want to increase your income or solve financial problems? Answering these questions is fundamental.”
In addition to a message that clearly defines your company’s unique ability to provide a valuable solution, it’s important to speak the language of your audience and apply strategies to identify pain points that can be mitigated. You should also consider the perspectives and experiences of different members of your audience. For example, if you are presenting to an investor who is also a neurologist, we would appreciate it if you would share your scientific data. For others, why When how What you offer may be better conveyed through a story.
The homework you do to fully understand your audience’s needs will not only yield useful insights, but it will also demonstrate a level of commitment that impresses influencers and potential funders.
“I’m drawn to founders who want to put themselves in the customer’s shoes. They’re generally very empathetic because they literally walk down the hallway with them and sit next to them in the chair.” said John “JR” Reale, venture leader of the Texas Medical Center Venture Fund. “It’s fascinating to see founders who understand who they want to serve and who want to keep learning.”
practical advice
As marketing communications are defined by multiple factors, there are several viable strategies for moving through the comprehension stage. Whether you’re a startup with limited resources or a company with accelerated growth, here are three key recommendations to implement.
as a startup
- Create a brand message that differentiates your solution from the competition and captures the compelling purpose and passion of your mission.
- Build partnerships with professional communicators. It’s a small budget, but it’s a great way to build trust and familiarity within a single project in the event that resources grow and support expands in the future.
- Identify each of your key audiences, including strategic partners, community influencers, end users, potential investors, and other sources of funding. The list can be daunting, so rank your contacts into each category, unleash your entrepreneurial curiosity, and research their needs and priorities.
Growth stage company
- Invest in comprehensive communications consulting to take your startup marketing communications to the 2.0 level of sophistication. This is when the seeds of a working relationship you planted with a professional communicator really pay off. Trust is established and there is a basic understanding of who you are and why it matters.
- Just as a business plan provides important direction, a strategic communication plan is essential to achieving goals such as connecting with target audiences, increasing awareness, marketing your company’s services and products, and boosting your bottom line. Acts as a blueprint. Your strategy should be tailored to your organization’s unique needs and identify the tools you need to achieve success.
- Prioritize the marketing tools identified in your plan that will drive your company’s influence and build on the brand reputation you’ve achieved.
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Kelli Newman is President of Newman & Newman Inc., a communications strategy firm based in Houston, where she leads a team of talented marketing professionals who drive success for purpose-driven clients.
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