Geoff RevillGeoff Revill founded Market Altitude in order to help small to medium sized high technology companies, and especially those with the unique marketing challenges of innovative technology, to successfully get to market and realize their full potential. Having worked inside the sales, business development and marketing departments of high technology companies he noticed that despite the best efforts of the company, the marketing would often end up as technology push or at best product push oriented. The strategy of the company may also end up being too customer centric too. Yet these same companies usually had a clear understanding of their market.

The Marketing Challenge for High Technology Companies

The list of reasons for technology product and customer centricity is endless, but there is one underlying facet of high technology markets that tends to drive this behavior – rate of change. The market for high technology products moves at an amazing rate, and time to market for B2B customers of high technology providers drives a culture of rapid solution development for fairly narrowly defined opportunities. While this approach ‘feeds the beast’ in the short term, there tends to be little time left to invest in growing the market opportunity itself. The so called ‘grow the pizza’ objective. As a consequence the company with great technology tends to evolve and grow slowly, but ends up frustrated that the full growth potential of the technology or product just never gets realized. At best they end up being acquired by a larger company that can amortize the true potential locked up in the technology. Not a bad result, but one that may leave the equity holders feeling that something was missing. More often than not that missing element was an insufficient focus on marketing to support the promotional investments, so that not only was the promotion generating leads and revenue opportunities for sales, but also that it was building value into the business itself and growing the market pizza.

The Higher Hurdle for Innovative Technology

Separately, truly innovative companies have a really challenging marketing problem. Unlike other high technology companies, there is no generally understood market requirement to address, no obvious ecosystem to integrate into. In fact innovative products often solve problems much of the market does not really perceive it has. They re-think the way markets work, or they come at problems from a unique and hard to articulate direction. This puts an educational burden on the innovator, to take the clever and complex and make it simple and readily understood, while at the same time not over emphasizing its innovativeness, because, perversely for such fast paced markets, engineers and developers and adopters of high technology tend to be highly conservative and skeptical.

About Market Altitude

Market Altitude was formed to help companies develop their marketing and business culture to address these fundamental issues through demonstrable successful marketing and promotional execution. At the same time our clients value our ‘outside looking back’ perspective; our ability to understand your target audience and connect their needs and wants with your solutions.