With some of the biggest companies in the world being part of the tech industry, it goes without saying that its one of the most competitive in the world. From Google, to Microsoft, from SAP, to Oracle – these are the names that everyone else has to compete with.
Bearing this in mind, the fact that software brand Infor barely considered marketing up until recently is something that is utterly incredible. When you consider that they are considered the third largest business software company, behind giants Oracle and SAP, it’s even more significant.
So, what has been the reasoning behind this unique, but ultimately fruitful approach?
Infor invested mainly in research
For the first two and a half years, Infor didn’t perform any marketing whatsoever.
For a company who find themselves in the top three of their industry; this is quite an amazing fact. Let’s clarify the details here – it wasn’t a case of Infor just performing “a little” marketing, they just decided not to do any whatsoever.
Rather, their emphasis was on R&D. They were behind the big players in the industry and the only way to catch them up was to invest in the research that could level the playing field.
To put numbers on this, they invested $1 billion over the course of three years in R&D. In other words, marketing was well and truly put on the back burner – it wasn’t a case of not having the funds, they just opted to spend it shrewdly.
In their CEO’s own words; there was no point investing in marketing
The wife of Charles Phillips, Infor CEO, has seen her husband rise from high-school graduate to be the co-president of Oracle and MD of Morgan Stanley. In other words, he knows the tech industry inside out and this is the main reason the markets have so much confidence in his unique approach with Infor.
In his own words, Phillips claimed that there was no point in marketing something when there isn’t much to talk about. As we found out in the previous section, the only way to create anything “newsworthy” for Infor was through those research and development stages.
What’s the plan going forward?
Following on from that previous point, it should now go without saying that Infor most certainly have got something to talk about.
They haven’t just been researching the latest platforms or systems to attempt to give them a small percentage advantage over their competitors. Instead, they have been attempting to shake up the market and release something that will pretty much market itself.
They are one of the few companies out there who are targeting individual industries – rather than just releasing one product that will tackle everything. It’s at this point that it becomes clear just why so much investment in research was required – and why now the company can really start to market their unique product.