The Different Effects of Mass-Media Marketing and Personal Sales Budgets Across the Life Cycle of B2B High-Tech Start-Ups
研究B2B高科技初创企业在不同生命周期阶段，将预算分配给大众媒体营销和个人销售对业绩的不同影响，帮助创始人优化资源分配。
In their early life-cycle stages, business-to-business (B2B) high-tech start-ups face severe challenges in establishing customer relationships. To generate business growth, they must convey the value of unfamiliar, innovative, and complex offerings to customers, using the limited resources at their disposal. Prior research has not examined the roles of mass-media marketing and personal sales communications in this challenging endeavor, despite principal differences between these activities in start-up contexts. To help B2B high-tech start-ups allocate financial resources to mass-media marketing and personal sales communications across early and later stages of their organizational life cycle, this article presents a longitudinal survey study involving founders of B2B high-tech start-ups. The findings indicate that start-ups that spend a larger share of their budget on personal sales (i.e., higher personal sales expense ratio) exhibit stronger performance in earlier stages of their life cycle but weaker performance in later stages; however, still in later stages, these expenditures enhance certain performance metrics. Conversely, start-ups that spend a larger share of their budget on mass-media marketing (i.e., higher mass-media marketing expense ratio) show stronger performance in later stages but weaker performance in earlier stages. High-tech start-ups can leverage these findings to improve their budget allocation and ensure persistent growth.