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– Jeff Epstein, Health Tech Corridor
– Bob Brooks, Bearware
– Roy Bielewicz, Mongoose Metrics
The B2B SaaS industry has experienced significant growth in recent years, averaging approximately 30% per year. This robust growth has been backed by the huge rise of the use of technology in proffering solutions to major business problems. Gartner research published that the revenue of the SaaS industry should hit $143.7 billion USD by the […]
So you’ve built an amazing product. Or you’ve updated a product to address key user needs. Or you’ve worked months to add unique functionality that your user base has been asking for.Now it’s time to spread the word.Successful feature announcements: Provide a unique opportunity to refresh old content, create new content, and capture more qualified leads […]
EXPLORE EDTECH MARKETING TIPSPART 1:Tracking ResultsPART 2:AutomationPART 3:Inbound MarketingPART 4:SegmentationMarketing Strategy Tips for EdTech CompaniesEducation technology or edtech is a massive industry that is rapidly growing. The global edtech market was valued at $89.49 billion in 2020 and is projected to have a compound annual growth rate of 19.9% from 2021 to 2028.The reality is […]
In order for SaaS companies to grow, reducing churn should be a top priority. We’ve compiled some of our favorite battle-tested tips that will mitigate churn and get you back to your winning ways.
If you are a small business looking to make an impact on the current industry, here are some of the benefits that come with using data tracking and analytics in software products.
For a SaaS company to survive in this industry, it needs to rely on steady customer acquisition and healthy customer retention strategies.By now, you must have realized that the cost of acquiring a new customer is higher than that of retaining an existing customer. Therefore, your most cost-effective option is holding onto your existing customers.Retention […]
Any company in the Software-as-a-Service (SaaS) industry knows that how you approach lead generation, marketing, and sales management will determine a large part of the company’s long-term success.
SOFTWARE + TECHNOLOGY MARKETING E-BOOK
There are many reasons for this, but the main ones are:
Devices and products that are capable of doing these functions are highly diverse.
Examples are health monitoring systems, TVs, HVAC units, cameras, lighting systems, and more recently, solar panels and automobiles. The problem is that all smart devices are not at the same level of maturity. Smart TV and entertainment systems, for example, have been around for a while, therefore, are some of the most mature of smart devices, technology wise.
When there is so much to choose from, consumers will get discouraged and put off getting a new smart device.
The first devices were hardwired and complex to set up and use. Nowadays, you operate smart devices through digital means such as hubs and Wi-Fi connections. Therefore, it is up to retailers to educate the customer and show them how to do it. If you were around in the 1980s and 90s think of the days when you shied away from programming the VCR or when you had to set up the answering machine for the phone.
You probably shied away from it. The fact is that fear of electronic devices is a real thing, and it needs to be addressed by tech product marketing and the retailer. Smart devices are highly complex and require foundational knowledge to use correctly.
On top of all this, new ones are getting added to the list, and older ones become outdated and replaced. According to a CTA study, most people are not even aware of the different types of smart devices on the market today that are available for purchase! But it is not all doom and gloom on the sales front.
Since 2014, smart devices have grown from approximately 20 million units to nearly 36 million units sold by 2019. The trend is upward; however, there are still many potential customers out there who have not signed on. The following are lists of predictions and numbers that show just how seriously IoT needs to be taken by tech marketers.
A younger, more tech-savvy customer is going to be much easier to sell to. However, with device marketing, it is more nuanced than that. There was a time you looked at electronic products as just another commodity. With smart devices, they are becoming more personal.
You will need to point this out to customers.
The days of just turning a device on and forgetting about it are over. Smart devices have become like pets that need attention and care. However, with proper knowledge, it will be easy to do. These products are customizable according to each person's needs. This is very important since what each person wants from similar products can be different.
Once you identify what the customer is looking for in a product, the product will sell itself.
A home or office that uses smart products will make life much easier for the user and quicker to get things done. Now, with a press of a button, you can order more coffee, set the temperature of your house, lock a door, keep an eye on your health or manufacture something remotely. Did you forget to turn off the stove in the kitchen when you went to work? No problem.
You can now do that using an app on your smartphone. You’ve heard the term “value proposition”. Well, in the context of IoT marketing, you will need to understand the unique value proposition offered by your product.
For B2C products, you will need to understand how your product will solve customers’ problems and make life easier, and for B2B, you will need to educate customers on where the product fits in their value chain.
Now, solar panel manufacturers can give their customers the option of real-time power production monitoring of their panels. It is possible to see what is happening with all the assets from one central unit, connected to the cloud. The benefit of this is that the user will not suffer many power outages and downtime.
In fact, with the help of smart technology, solar power farms are easily capable of managing large amounts of power production and distribution with minimum hassle.
If they have already bought a product and are having issues with it, you can help them by sending them appropriate messages to help solve technical issues or advice. In fact, real-time marketing is one of the hallmarks of the IoT business.
According to the famous business consultant Peter Drucker,
This quote is perfect in the context of IoT product marketing. Once you understand who your customer base is and what they want, you can market to them by highlighting what they will get out of a smart device.