Starting a business is exhilarating. Unfortunately 90% of startups fail and many of them in the first year. This means that knowing how to market your startup effectively is critical to your survival. Who is going to buy anything from you or even require your services if no one knows about it? And if no one is buying, you will certainly have no revenue coming in and that leads to one thing; business failure. All the months and probably years of efforts to establishing a business down the drain.
Marketing is an important aspect of your business in reaching its targeted audiences. For startups, it’s quite a challenge like any other because of the limited resources it requires to achieve its set goals; the time it requires, its comprehensive nature, and most importantly the money.
Marketing demands every little effort, needs adequate planning and then flawlessly executed. How do startups achieve this beside their numerous burdens? As you know the traditional marketing do not always guarantee success.
Marketing your startup efficiently is no joke but you neither need to panic. Making use of the right channels, communicating the right messages, employing the use of a proper PR and developing contents makes it a rocket science. This is why many startups fail at it.
There is actually no secret to a successful marketing of your startup business, because the secret itself is in how the whole marketing process is designed and managed. From creating the appropriate awareness and attention it needs to spiral and the strategy used in its execution. There are many successful marketing campaigns used by the ‘big companies’ that startups can learn a thing or two from. Just like there are many horrible marketing campaigns that have failed miserably, there are also very brilliant ones, so if one company was able to do it and hit the million bucks, it simply means it can be done. But how?
First, note that marketing isn’t the same as branding. There is a distinction between marketing and building your brand, they both need different planning.
Secondly, there are no fast rules that drives a 100% successful marketing campaign. Marketing takes time and requires a lot of inputs. Every business is different, hence what will work or has worked for them are dependent on many factors. Learn from those successful campaign strategies but don’t copy what worked for their businesses.
Here’s how to get started with your startup marketing
1. IDENTIFY AND UNDERSTAND YOUR AUDIENCE
Before you can first sell anything, whether a product or services, you need to know who you are marketing it to. The ‘Who’ has many determinants. This is the first step in defining your target and marketing effectively.
A little or more is required here to identify your target audience. You need to conduct a market research, this gives you a solid idea of the complete ‘Who’ you are going to sell to.
2. SETTING GOALS
You probably know the effectiveness of goal setting. It keeps your efforts focused and resources directed to the right channels. Every marketer set goals. Usually these goals are set to be tangible, achievable and result oriented for their campaigns. There are no exceptions for startups either. These goals should be targeted at the growth of your business. It should be in sync with your general business goals. Despite your business goals may keep changing as you grow, the goals your set for your marketing campaigns should not be misleading from that of your overall goals of your business.
While your marketing goals are intrinsically tied to your business goals, these goals must be set within balance. Not too high or low. The balance is very important to maintain your morale after failure to achieve them. Here’s a few tips to set the right marketing goals.
Your goal should be SMART. It’s a marketing acronym that describes what exactly your goals should be comprised of.
d. Realistic and
e. Time bound
3. CONTENT MARKETING
Content marketing keeps your brand awareness and links alive. Content marketing goes hand in hand with social media. To sustain your online presence you need contents that speaks volumes to your prospects and contents that can generate leads – a performing content. A little investment in content creation won’t hurt. It will actually yield results.
Optimized contents also ranks in search results.
Simple, create shareable and engaging contents and turn your prospects into revenue driving customers.
It is doable!
4. SOCIAL MEDIA
Social media allows you to engage with your target audience. It has become one of the most used marketing platforms to engage with audience and turning prospects into loyal brand advocates and customers. The truth is, your customers expect you to be be using social media as well.
It is imperative that startups gets the maximum benefits of social media channels. It’s the most biggest and cheapest channel now, which will give your prospects or customers to directly respond to your brand as well as building real relationships with them. It’s a must for startups actually, to get on to social media and start building their brands
5. RELATIONSHIP MARKETING
Perhaps, the most rewarding and positive marketing is Relationship marketing. It is easier to sell to people or customers you have created relationship with. When you first established that rapport between yourself and a prospect, the magic usually follows.
Relationship marketing is all about building long term relationships with your customers. It’s the most sustainable way to retain customers and growing your clientele.
The ultimate goal of relationship marketing is to create brand loyalty. It is intended to keep your customers buying from you. In fact, what can be assuring of having available customers for what you are selling, than nothing at all and be expectant during your next sells? With relationship marketing, you can be certain a few of your customers would introduce your brand or products and services to their friends as well –this means referrals and free word of mouth marketing. It also guarantees a higher customer LTV (life time value)
Do you need the best marketing strategies to market your startup and build brand loyalty or need other startup business solutions?
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