Ignite Tech Sales in 2024 with our Sales Takeaways

Hi!

Welcome to Sparksense's Newsletter! Every month, I personally bring insights to fuel your sales strategies, drive business growth, and succeed on your entrepreneurial journey.

This month, with 2024 barely beginning, is a great opportunity to capture main learnings and industry insights from 2023.

The venture downturn accelerated in 2023, with global VC funding falling 42% to $248.4B. This marked the first time annual venture-backed funding slipped below the $250B mark since 2017, year when Sparksense started! Deep Tech is the single largest category within VC in 2023 and maintains momentum despite market slowdown! That’s great news for Deep Tech Entrepreneurs to maintain that momentum and boost your sales by putting Customers and Market in focus.

Lessons learned from 2023 on how to boost Tech Startup Growth in 2024

Navigating the complexities of business development and sales acceleration for tech startups requires a strategic approach. As we kick off 2024, here are 4 key actions to execute sustainable growth highlighted in our 2023's newsletters. Let’s dive in:

1️⃣ Craft your Ideal Customer Profile (ICP):

• Focus on companies with problems your solution solves.

• Identify target industries and decision-makers.

• Define valuable use cases and adapt as needed.

2️⃣ Master the art of Bootstrapping:

• Engage early with customers.

• Align closely with market needs.

• Leverage technology for a competitive edge.

• Plan international expansion strategically.

• Balance customer acquisition with product development.

3️⃣ Navigate pricing pitfalls:

• Embrace value-based pricing.

• Avoid undercutting your product's value.

• Structure offerings strategically.

4️⃣ Choose industry events wisely:

• Challenge the need to join specific events.

• Prioritize key business questions.

• Optimize liquidity, considering cost-effective alternatives.

• Conduct a thorough and timely post-event follow-up.

• I hope those insights will help you unlock growth in 2024.

Extend Your Runway with Our 4 Top Free Tools in 2023

SaaS subscriptions can be a real drain to your liquidity 💰. I would like to share some tools we use daily at Sparksense, which are 100% FREE or very affordable to support your growth. 

1️⃣ Manage your deal pipeline proactively 

As you accelerate your prospecting activities, you will need ONE place to easily capture your deals and what you learn as a team! HubSpot is perfect for Startups looking to manage customer relationships without the hefty price tag.

2️⃣ Foster (remote) Team Collaboration 

Looking to integrate digital collaboration software into your organization AND reduce your cash burn? Slack revolutionizes our team's communication and collaboration.

3️⃣ Get paid on time by your customers 

Transform your startup's pricing strategy with Stripe. Stripe serves as the ultimate instrument to streamline financial processes, allowing you to supercharge your revenue growth through its innovative pricing structure, subscription management, and upfront payment solutions, all for free.

4️⃣ Engage in conversation with your prospects

Attending conferences and trade shows alone doesn't guarantee success; you need an effective system to reach out to prospects and create lasting impressions. Aircall is a robust global calling system to carry the momentum forward. Aircall serves as Sparksense communication backbone.

Tap into hidden opportunities across 4 industries!

Are you feeling like you're not getting the traction you need to grow your business? I see too many Entrepreneurs focused on the same prospective customers: BMW, Airbus, Novartis, RWE, ABB, GE etc... No doubt these are great companies. But they will NOT be the early adopters you need to grow your Startup!

That’s why we work with entrepreneurs to connect with Hidden Champions and mid-size companies, who offer great untapped potential. In 2023 we identified 4 such companies across 4 different industries:

Let’s accelerate your sales  – No Strings Attached!

Do you want to generate qualified business leads? Our business development Advisors bring technical background to understand your technology. We execute a robust sales process to deliver tangible results. We shorten your sales cycle, increase conversion to achieve faster sales.

Do you need help accessing decision makers across key industries?

Entrepreneurs engage with us to generate qualified leads in flexible ways:

• STARTER to help you access launch customers, pilots and deliver first revenues.

• GROWTH to build your customer base, recurring revenues, and gain market insights.

• SCALE into global markets, find new applications with in-depth analytics and insights.

Read more about our services and packages here. Additionally, you can download our comprehensive Business Development Guide ebook, offering valuable insights and strategies to enhance your entrepreneurial journey.

Let’s talk to find out how we can help take your business to the next level. Book a free call with me today!

Thank you for reading! If you have any questions please feel free to email me directly. And have a happy and successful New Year!

Sincerely,

Hervé Flutto,

CEO and Founder of Sparksense

About Sparksense

With 150 global clients supported over the last 6 years, Sparksense is the trusted Sales Team for B2B Tech Startups. With a smarter outreach, Sparksense’s team of over 25 advisors has ignited sales for hardware and software solutions across Europe, North America and Asia – thanks to its robust, proven business development skills and relevant market access to decision makers across key industries.

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