Why space companies need marketing professionals

For decades, the space business was reserved for a few companies. The need for marketing was minor as companies only had to woo a select few entities and an investor or two. However, the commercialization of space has changed that business model.

Competition is exploding for space-based initiatives. As the market grows, companies must compete with other companies that are entering the space segment from both space and non-space entities that are foreign and domestic. Forbes reported that the number of space companies around the world exceeds 10,000, according to SpaceTech Analytics 2021 analysis. Almost half of this number is from outside the U.S.

According to the United Nations Office for Outer Space Affairs (UNOOSA), as of 2021, over 80 countries and governmental organizations are actively involved in space activities. That figure is growing as the industry expands. These countries are investing funds into their local businesses to capitalize on the new space opportunities and build their local economies.

The need for marketing professionals on staff is becoming a necessity for companies to drive awareness of their brands and services.

Even if you have a business model that relies on appealing to a select few entities to provide funding, like NASA, a polished brand appearance can go a long way to earn the grant award. A solid brand identity builds trust and states that the company as well as the idea it is promoting is important.

In addition to the large number of space-based competitors, non-space businesses are entering the space segment and they have marketing experience that makes them tough competitors. To stand out and be considered, companies must have a polished brand that is fine-tuned with professionally implemented marketing strategies. This is achieved with the help of a marketing professional and their team.

Just as there are different levels of competency and specialties for an engineer, the same is true for a marketing professional. Marketing professionals can have skills that range from social media to package design. If you are just starting to build your marketing team, having someone with a range of experience in different aspects of the field, PLUS possessing leadership acumen is a great place to start.

Marketing is critical for bringing technologies to market and providing funding through activities that sell to a public customer base. Having a marketing professional and their team will:

• build awareness of a company and its services
• create a professional brand appealing to customers and investors
• and tell the company’s story in a way that resonates with your audience.

As the commercial space industry grows, competition increases making marketing strategies increasingly important in order to stand out in the crowd.

About Izzy House:

As an author of the Marketing Space book series and the Space Marketing Podcast host, Izzy House aims to be a guiding voice for businesses in the concepts of marketing within the space industry. With an extensive marketing background and three marketing degrees, she looks at the space industry through the lens of marketing. Armed with 20+ years of experience in public affairs, outreach, and marketing, Izzy aims to empower space companies and help them reach for the stars.