Engineering is a highly lucrative field. However, this doesn’t mean that your startup will automatically thrive given the current market conditions. You need to have the right strategies at hand in order to reach your target audience, but you must also be adaptable with current changes in trends.
Pedram Zohrevand, a professional who started a company called CES4, is all-too-familiar with the challenges of starting an engineering business. According to him, there’s a steep learning curve on finding ways to market any startup, especially if it’s something innovative. Based on Mr. Zohrevand’s research, here are some interesting statistics about STEM-related startups:
- Tech startups are among one of the fastest-growing branches under STEM, with robotics businesses rising up to 189.4 %.
- Agricultural technology or food engineering also has strong growth in the business sector, with a rate of 171.4 %
- The market is becoming increasingly competitive, which means that the most innovative companies rise to the top.
Considering these facts, what should engineering business owners to do creatively market their products and services? In this post, Pedram Zohrevand discusses the effective ways he was able to promote his highly successful engineering business.
3 Tips For Successfully Marketing Your Engineering Company
Highlight your company’s Unique Selling Proposition (USP).
The first thing that engineering company owners should consider in marketing their business is to emphasize their Unique Selling Proposition (USP). What is a USP? This basically means the factors that set your business apart from others.
Some CEOs would be quick to say that their USP is the affordable price of their products or services. However, this is a self-defeating strategy since you will be competing with other larger, more established companies who can lower their prices without hurting their profits. This is a race to the bottom in which you may experience utter defeat.
According to Pedram Zohrevand, you engineering business must have a USP that is related to a current demand not offered by most companies at present. This is done by doing market research and understanding the needs of your client.
Establish proper branding.
People sometimes buy products and services not just for necessity but also for the benefits of associating themselves with a brand. A great example would be Apple products. When we think of it, Apple isn’t the only smartphone or device company in the market–there are thousands to choose from. However, they built a strong brand that people want for several reasons. Apple branded themselves as a prime gadget company known for its easy interface, long-lasting products, and virus-free software.
The key to establishing proper branding is putting yourself in your customer’s shoes. How do you want to perceive your company? By being specific with this, you can properly employ your branding in your marketing strategies.
Master digital marketing.
If you’re not using digital marketing in your engineering business, you’re currently losing from competition. Digital marketing continues to rise, and it is the future of promoting businesses. The fact that many brick and mortar stores are filing for bankruptcy due to the rise of online e-commerce says a lot about the power of digital marketing.
Here are some areas you need to focus on while promoting your business online:
- Search Engine Optimization: How well does your company website use relevant keywords when clients are searching for products and services related to your offers?
- Content Marketing: Do you use informative articles, podcasts, videos, and infographics to let others know about your business?
- Social Media Marketing: Do you reach out to other brands and potential clients through their social media profiles?
- Pay-per-click (PPC) Advertising: Have you mastered using sponsored online ads for interested users to click?
Running a business takes effort and persistence. By using these effective strategies, your engineering company will rise from being a struggling startup into a groundbreaking success