Starting up a business is no cakewalk. A business in its initial days is rarely in tune with its niche that it can stay afloat in the long run with minimal efforts. In fact, most startups barely even cross the success mark through their revolutionary ideas.
Statistically speaking, an estimated 90% of startups fail. As a result, it becomes imperative to knock on the investor’s doors to turn towards liquidation preference for startups to kickstart and accelerate their growth.
The truth is that startups have no rules carved on stones, which signifies getting the potential ideas in the wrong direction and being without a solid foundation. Hence, there is a critical need for a team of people for startups in the tech niche to jump in and take on roles that could make the time spent on the project worth it and communicate goals effectively.
Communication is paramount to the success of any startup or full-grown organization. Hence for starters, an organization or startup should undoubtedly have an impeccable communication strategy.
So, here are some pointers you could keep in mind for the next time you wonder where you’re going wrong.
Identify, Draft, and Communicate Business Goals
It might get a few groans, but it is always essential for every member to be on the same page. The best way is to write the goals down and send them to everybody involved.
The documentation of strategies with clear visions of the tech startup facilitates transparency and puts forward the organization’s objectives to fulfill them. If the entire business unit doesn’t have the same strategic objectives and their goals are not on par with the company’s, the result can be disastrous and expensive.
Employee communication is a thin thread that holds everything and everyone together. Effective internal communication can be a driving factor in improved decision-making and enhanced employee productivity.
When there is open, clear, and transparent communication, it makes the employees feel inclusive of the work environment as they efficiently hustle towards the goals. And thus, increase their productivity by up to 20-25%.
Consistent team and company meet-ups help boost morale. This way, employees are well-aware of everything happening in and around them. It, in turn, helps in building trust, confidence, and reliability. It is necessary to understand that internal communication is more like a nurturing environment for an employee to shed away their hesitance to share, express, and ideate.
External communication is equally critical for a startup. Their success depends on how they communicate their values, ideas, vision, passion, and uniqueness to the world outside of the organization. A big chunk of their reputation lies on the lines of their communication.
A startup that has effectively established its external communication will know when is the right time to disseminate the right information through the right medium. The press releases, newsletters, interviews, briefings, and so on are an added advantage to spreading apt messages to people.
Such communication makes a desirable impression on people’s minds and has an everlasting impact on their hearts. Thus, both short (revenue-generation) and long (branding building) communication are essential for a strong foundation and overall growth of the startup.
Recognize the Value of Public Relations
Media is an undoubtedly strong medium of communication. Word of mouth and tweeting is critical to generating interest and converting today’s tech buyers. But a traditional PR program already has access to editors and analysts who have a set audience.
It is the most efficient way to leverage the media. Having a third-party validation always carries more weight than self-endorsement. It helps your startup get introduced to experts from the industry, and influence these influencers on market traction, innovation, and anything related to the industry.
The main aim is to build a long-term relationship to understand and produce what the audience desires. Never shy away from using mediums that can bring a bundle of opportunities your way.
Demonstrate the Technology’s Real-World Impact
Onboarding a PR firm increases the odds of success for a tech startup. The PR firm using its skills helps develop a message for the world. It includes explaining the startup technology’s real-world application, highlighting their brand purpose, and how their products are making the world a better place.
They also signify how they help the company prove what they claim, backing it up with stats and communicating with people to make them spokespersons for the brand. Working in tandem with PR firms can show how their products solve people’s problems, and improve business and various communities.
Set Realistic Expectations
Patience is key. For startups to prosper in the eyes of the public and catch attention would require patience. Expecting immediate returns on the company’s investment only leads to an occupational hazard.
Communicators, the PR firms, in this case, need ample time to strategize and put across a plan to position the company in the market. They also need room to develop stories to make a compelling pitch. Being clear about the overall message and course of action is of the essence.
70% of consumers prefer getting to know about a company via articles rather than ads. PR firms help in adhering to the needs of the company and the audience. They make results visible. Hence, believe it or not, they are a chapter you can’t skip.
Encourage Communication Between Various Groups in Your Organization
Resources in a startup are often limited. But that doesn’t necessarily mean isolating your product development team from the rest. They are the ones talking to your future customers.
Tech developers get into developing new technology in a vacuum without a focal point on the market opportunities. Such isolation likely results in a product that might not launch the company as expected.
Hence, encouraging feedback from the sales and marketing team to the product development team is the way to go. It can help monitor industry trends better by aligning a product according to the target market’s needs and preferences.
Startups go through a roller coaster ride with numerous things to do during their initial days. Not everything they do is certain to come to fruition. Fortunately, communication is not one of those.
Building a communication strategy is an efficient way of relaying information among people and ensuring a long-lasting impression.
Hence, the communication practices mentioned above can help a technology startup ensure its success. Such practices make it possible for the team to grow and face the challenges of moving new ideas and products to the market.