We all are aware of the fact that marketing is crucial for every business. However, it’s much more important for startups. Until people are aware of your products and services, they won’t take the initiative to buy your goods. From using coupon codes to enhancing your online presence, marketing is an aspect you can’t ignore.
Startups are formed every now and then. In addition, you’ll always witness such businesses show more hunger for growth than established companies. Since investing your time and resources in marketing for your startup is so important, this guide should provide you with a roadmap that you can easily follow to accomplish your business goals.
Note: Since startups are usually low on budget, most of the strategies we are about to cover can be used on a shoestring budget.
1. Coupon Marketing
Though this technique may sound a bit traditional, you can’t ignore the results it generates. Couponing is a universal trend consumers love to follow. Who doesn’t like discounts or free stuff? I’m pretty sure we all do! By introducing promo and discount codes, you can boost your sales in no time. Though you may have to operate on cost or lower your margin, this marketing strategy will definitely show you its colors in the long run.
However, one thing that businesses do while giving out free stuff or introducing discounts is reduce the quality. We understand that you’d do that to save yourself from generating a loss, although the whole purpose of this strategy is to show your audience how good your products are. Therefore, a reduction in quality can backfire on you by generating poor customer reviews. – Not at all good for business!
2. Email Marketing
Probably one of the cheapest, yet effective techniques you can use is email marketing. With over 3.8 billion email users in 2018, this number is still growing. All you need in order to implement this strategy is a list of official and relevant email addresses of potential customers.
While hunting for email IDs, you’ll find many lists online that you can buy. However, we advise that you avoid such lists as most of the emails they provide are either fake or spammy. On the other hand, by using wrong email IDs, the risk of having a low deliverability rate will eventually get you flagged by ISPs as a spammer. This will ultimately land your future emails in the spam folder! – Believe me, that’s the last thing you want.
On the other hand, if you wish to play safe, all you have to do is add a ‘subscribe now’ button in the footer and header of your website. This button will be an invitation for all readers to subscribe to your newsletter. Once you have their email, you can freely send them relevant emails and experience higher deliverability and click-through rates.
3. Start Your Blog
“Content is king”! Ever heard that? Well, even if you haven’t, let me tell you that it’s true.
With competition rapidly increasing in every industry, consumers are turning out to be the winners as the element of choice is with them. Their demand is what makes you set the right price.
Therefore, if you really want your products to get bought regardless of what price you set, you’ll have to educate your audience. With the help of high-quality and informative content, you can move the reader and impact their purchase decision. However, writing the perfect blog isn’t a walk in the park. It requires planning, research and a blend of the platform which you’ll use to deliver the content to your potential audience. Remember, a wrong move will only scare off your prospects, so take your time and create an effective content marketing plan.
4. Use Social Media Platforms
How many social media networks do you use every day? In 2018, over 2.6 billion global users use a social channel. That means you have the opportunity of targeting one-third of the population of the world just by having a laptop and an internet connection.
However, using the right platform for the right purpose is the tricky part here. For example, if your target audiences are B2B buyers or suppliers, then LinkedIn would be an ideal candidate for the job. On the other hand, if you plan on setting up a brick and mortar business or an ecommerce business, then you’d want to use platforms that are suitable for B2C prospects. In such case, Facebook, Twitter, Pinterest, Instagram and Snapchat would seem better options.
5. Sponsor an Event
Scratching your head after seeing this point? Though this marketing strategy may cost you a few extra bucks, the results are breathtaking. As I mentioned above, in order to generate leads as a startup, you have to educate your customers. What better way than to interact with them face to face? Now you see where I’m going with this?
By sponsoring an event, you’ll be sending out an indirect invitation to your target audience in addition to informing them that you’ll be there. That way, you can expect relevant people to show up at your booth. Once they come, get the most out of them by either generating a lead or simply getting their contact details for future email marketing. However, make sure you put your best representative at the booth. You wouldn’t want to make a wrong first impression. Your first impression is always your last!
We all know about the struggle of running a new business. However, hard work and effective planning are two core elements that can help you succeed in achieving your goals. In addition, with all the marketing strategies we just discussed, you should be on your way to writing down a plan for each of them. Remember, from using coupon codes to showing up at an event as a sponsor, if you want to reach the top you have to use every piece of the puzzle.