Starting a business and keeping it running is a major challenge. It is so much more than good products or services.
There is so much competition. Everyone is fighting for a share of voice to reach a limited audience pool.
The good news is that there are tons of avenues available for generating brand visibility in the digital space.
The bad news is without the right tactics, you will be running around in circles, achieving zero ROI.
The right startup marketing strategy can set you on the path of differentiation. We will show you how to go about it in our article below.
- Start the Marketing Journey with Experts
Putting together a sound marketing strategy is not an easy task if you do not have previous knowledge. There are indeed tons of resources that can teach you how to go about it.
But the best way to achieve success is to lay a solid foundation. A foundation that requires help to build from a startup marketing agency.
Think about it like building a house. The foundation determines the structural integrity of the building. If you do not get it right, everything will come crumbling down in the not-so-distant future.
Here is how to get started with a startup marketing agency.
- Have a good understanding of your business marketing needs.
- Shop around for potential agencies that you can work with. Look at their credentials focusing on the expertise in the areas you need.
- Do ask for references and call them up.
- Read reviews and testimonials about the services.
- Once you narrow down the list, request a meeting. Face-to-face interaction can help you form a better opinion than what you read about them on their website.
Startup marketing agencies understand what marketing strategies to use on new businesses. The company will save a lot of money in the long run if you start on the right footing.
- Ensure the Basics are in Place
When starting the business you already know the products or services you want to sell. That is all good, but there is more. Develop a checklist of the following items.
- Have clarity on your business as a whole. What is your purpose, personality, USP, and brand positioning?
- Understand the market and who you’re targeting. That means knowing the market size, and the spending potential of the target customers.
- Competitor analysis for insights on who you are up against. Going into a saturated market, for instance, will require more spend on advertising and brand visibility efforts.
- Is your value proposition unique enough to stand above the market clutter?
- Define the benchmark metrics you will use to measure success. You should base this on the goals you have set for marketing. Take the example of raising brand awareness. A good metric could be to increase engagement on social media platforms. More people signing up for email subscriptions is another.
- Determine the Channels You Will Use
The digital space has evened the playing field when it comes to advertising or brand visibility opportunities. Small and big companies can utilize tons of opportunities to reach customers. These include:-
A website provides a platform to showcase products or services. The platform is flexible because the startup has full control over it. Some ways to increase visibility include content marketing through blogs.
Others are videos and storytelling to showcase expertise. Take the time to learn the best SEO practices to improve ranking on the search engines. These include mobile optimization, keyword use, and link building.
- Social Media
Social media gives access to a broad audience. The startup has no limitation on which platform to open an account. But, don’t spread yourself thin by being on all of them. Identify where your target audience is likely to be, and maximize those.
Social media requires that you spend time engaging and Interacting with the audiences. Don’t open accounts, and forget to action them because of lack of time to post.
Also, join relevant networking groups, and maintain an active presence. You get to position yourself as an industry expert. And it is a fantastic way to build organic audiences. Such are more likely to convert into loyal customers.
- Public Relations
Third-party endorsement is a fantastic way to get market visibility. Create relationships with the media and share newsworthy content with them. It helps position you as an authority in the industry. The company will get a mention when the story runs, thus visibility.
Testimonials, customer reviews, and corporate social responsibility are also other PR opportunities.
There are tons of other avenues, both free and paid. These include email marketing, affiliate marketing, influencer marketing, Google Ads, and Pay-Per click marketing. Also, list the business on platforms like Google My Business and other local listings.
- Decide on the Marketing Budget
One crucial question that will come up is how much should a startup spend on marketing? Is advertising for startups really necessary?
A clear-cut amount may be difficult to give. Yet, the fact is a new business must spend a little bit more on marketing than an established one. Industry experts recommend that a company that is less than 5 years old should put aside 12-20% of the gross revenue towards marketing.
A B2C business will spend more than a B2B. The marketing techniques and tools will also impact overall spend.
Indeed, startups may not have a lot of money for advertising or brand visibility tactics. But, consider it an investment to set aside part of the budget to hire a startup marketing agency. Without proper guidance, you may spend, but not achieve anything significant.
We have looked at some effective ways to market startups. Get professional advice from a startup marketing agency? It will help you avoid many mistakes that could end up costing you a lot of money. Further, starting with a solid marketing strategy increases the chances of seeing ROI.
Do note, there is no one fits all strategy. Every startup business is unique in what it needs. That is why we recommend that you get your basics right first. Having clarity on the company, market, the target audience is key.
Take advantage of the free and cost-effective channels to get visibility for the business. You will find that a small budget can go a long way if you combine the two options.
And, remember our points about metrics? You must measure everything you do. Only then will you know what is working or not, so that you can improve.
Good luck with your new business!