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Posted: December 3, 2012
by MaRS Discovery District

Market communication in the Early Market

Marketing communication in the Early Market deals with how startups must tailor their communication in order for their message to reach both technology enthusiasts and visionaries.

Note that the complexity of the marketing communication topic makes it too broad to cover in one article. This article of one of a series of six that covers the field of marketing communication. The full list of the titles in this series includes:

In the Early Market, your target customer is drawn from two different market segments: technology enthusiasts and visionaries. Each segment has its own way of learning about new technologies, and your communication has to take that into consideration. Looking at the image below, this means that you have to plan separate cycles for each of your target customers.

 

 

For start-ups with limited resources, most communication efforts in the Early Market have the character of “evangelism,” in that you are trying to convert skeptics to become supporters almost exclusively through your own powers of persuasion supplemented by some evidence of your technology. This is a very demanding process, so it is important to make sure you employ the right evidence and message, and use the appropriate media to reach your target audience.

The objective of Early Market communication is two-fold, and involves reaching both technology enthusiasts and visionaries. To start, the first part of your objective lies in demonstrating that you have a strong underlying technology with promising advantages over the status quo. In this pursuit, your audience will be technology enthusiasts who review innovative technologies. These are key opinion leaders (KOLs)―industry insiders (such as analysts, bloggers, super-users, trade journalists and technology columnists) whose thoughts about a new technology product influence the technology-driven segments of the market.

In terms of messaging, you will need to display thought leadership. Simply put, this means you will have to frame a “crisis” and then show how your product proves superior to existing technologies in resolving the situation. The chart below offers suggestions of the type of evidence and media that your key message should embrace to appeal to technology enthusiasts.

The second part of your objective is to focus on visionaries or “Earlyvangelists” who care more about innovative products than the underlying technology. For this audience, your message should convey how your product can deliver a potential advantage within their own strategy. The visionary’s main interest lies in the innovativeness of the product itself―so at this stage, issues about the market and the company will have little resonance. Therefore your communication should use the kind of product evidence suggested in the list below to support your messages about your product’s superiority and exciting potential. Keep in mind that different media engage visionaries than technology enthusiasts―a list of suggested media channels is provided below.

 

References

Wiefels, P. (2002).The Chasm Companion.New York: Harper Business.

This content was created by MaRS Discovery District for the ONE network.  You can find more tools for entrepreneuers on the MaRS website.