One
may dismiss this off saying that such a message
may be relevant for the larger IT consulting
companies with deep pockets, as marketing and
brand building are still thought to be expensive,
nice to do, and meant for the good times. This is
clearly a misconception. For
one , it is not true that all marketing programs
are expensive and secondly,
marketing is more relevant during troubled
times, than when business is good, as the need to
differentiate your company against competition,
and to create a value proposition that is
compelling enough for the prospective buyer, is
greater now than ever before. So, this article
will mainly focus on benefits from marketing
efforts for mid-sized
players.
In
the context of Indian companies, another point is
worth noting - with a tiered structure clearly
emerging in the offshoring space, the second tier
and smaller companies may feel the need to revisit
their strategy, positioning and messaging.
And this is why -
There
is a prevailing perception that with the prolonged
adverse global economic situation, caused by a
combination of natural and other calamities, that
the IT industry has been adversely impacted- the
answer to this is both yes and no. The bad news is
that rates have been falling, and decision cycles
have become almost double, projects have been put
on hold for longer periods, and inclination to do
anything perceived as risky has come down. The
good news is, however, that offshoring is now being
looked upon as a necessity rather than an option,
owing to the unbeatable value proposition offered
by this model of doing business, in good and bad
times. While there is a lot of hype created around
the so called large deals” that are flowing
offshore, there are an equal number of mid sized
companies, as well as large corporations that have
never considered offshoring before that are
starting relationships.
And
this increase in the number of companies, new
customer segments exploring the idea, and new
regions and markets should augur well for all
service providers. To take advantage of this,
however, companies need to be more aware of goings
on in the market, keep track of competition
activity, and also raise their profile among the
target audiences. And that’s what marketing is
all about.
On
the marketing front, some of the important must
dos- have a clean website articulating the company’s
value proposition, offerings and track record,
some form of customer communication; e-newsletters
are easy to implement and extremely
cost-effective. Slightly larger companies may look
at focused seminars to enroll customers and
prospects.
In fact, companies could even collaborate to
conduct such events in the market, to spread fixed
costs.Webinars are cost effective, and can
reach out to audiences across regions and markets.
In all the above, notice the use of
technology to minimize costs, maximize reach, and
reduce implementation time frames.
Apart
from this, the management of the company must don
the mantle of the Chief Marketing Officers of the
company. All of us are quite familiar with the
examples of Bill Gates, John Chambers and our very
own Narayana Murthy, who have played the vital
role of being their company’s brand ambassadors.
Emerging companies should emulate their example
for their own benefit.
Lastly,
emerging companies should understand the
eco-system of influencers and decision makers
well, and map out a plan to stay in touch with all
the relevant audiences.
In
conclusion, our view is that a marketing mindset
is crucial to success in any industry, and the IT
industry is no exception. A marketing orientation
is important for companies to align themselves to
the shifting paradigms in the global IT industry,
and carve a niche for themselves. While dollars
are a consideration in order to expand the scope
and reach of your company’s marketing programs,
the foundation can be laid very early in the
evolution of your company, and with prudent
spends.
Volume 4
