Everyone has some sort of business idea in mind. But only those who can materialize the idea into a project by securing proper funding taste the success. It is the most critical aspect as less than one percent of people have the resources to start a company independently. One can secure many types of funding, like Series A, B, and C funding, which is very popular. Then there is always the option of contacting a venture capitalist or Angel investor. There are pros and cons to contacting every one of them, so you need to be vigilant.
Once you’ve got the investment, the next step is to develop a product or service and then market it. The marketing part can make or break your business because if your target audience gets familiar with your product, it will be interested in knowing more about it. On the other hand, mediocre marketing may result in a lacklustre approach from your potential customers. And indeed, this will translate into a disaster for the company.
So, how can startups market their product knowing that it will work wonders for them? Please go through this blog as I discuss four essential aspects in detail.
It doesn’t matter whether you have a great idea or just thinking about introducing an available product in the market. The goal that you must look forward to should be realistic. Usually, startups think about a meteoric rise to stardom by offering their product in the market. But they must realize that marketplaces are highly saturated. And even if there are few players in the market, they are well established, and new companies will have a tough time pushing them back.
Startups must also consider several factors that can affect their progress. Economic and political factors can also affect them. You may think that a small player will be affected by this but think about a new tax scheme or incentives for the startups. It can be a negative aspect for the startups when it comes to the tax scheme. But related to incentives, startups can benefit from this.
Startups cannot afford to give a vague message to their target audience about their product. A clear message must be put across through all the channels. Be it a website, social media channels, print, or outdoor media. Everything must be aligned so that a compelling message is put forward.
Let me give you an example to understand my viewpoint quickly.
Think of a tech startup that is marketing its new product based on advanced GPS. While not many devices are available in the market, GPS technology is now available mostly for free. But, with Google maps and other applications in tools freely available, the startup can have a tough time marketing their GPS gadget. So, they must offer UPS like street view for most locations or some other feature that can attract their target audience.
Now they have to market this UPS aggressively and clearly so that everyone knows that there is a tech gadget in the market related to GPS. Excellent copy is required from them for all the mediums so that their potential customers will know what the product is all about. And there must be no ambiguity throughout the process.
One of the best ways to get more traffic to your website is through blogs and videos. Regular blogging about your industry will make you an expert in your field, and visitors will look forward to new blogs. To increase domain authority, a detailed content marketing strategy is required. There is a misconception that not every company needs blogs as only big companies require them. But as I have mentioned above, this is one of the best ways to get regular traffic on your website.
Generating leads can be increased as we can market different types of content websites and social media channels. The results can be amazing once you achieve the domain authority on your subject. But you have to dedicate some quality time to make things work for you.
eBooks are another great way to market your product and generate a buzz. However, remember that distributing the content is another aspect you must seriously consider. Social media channels can be the best way for startups to spread awareness about their products. And eBooks can be instrumental in success.
Now that’s marketing in a true sense, as without running ads, you won’t be able to make your target audience familiar with your product. PPC can be expensive, but it will get you results very quickly. Other processes like SEO can take a much longer time, but the results are organic and long-lasting, unlike PPC, where you have to invest in the ads regularly.
For startups, it may be difficult for them to invest heavily in paid campaigns. But if you are ok with waiting for 3 to 4 months to get the results, you can skip PPC. It is totally up to the marketing strategy you have devised so that you know how your campaign will be run.
You can place Google search Ads for people who are already aware of your product and looking for the right vendor. Social ads are specifically for people who are not aware of your product, and you can casually catch their attention. And lastly, the display ads are best suited for brand awareness and retargeting.
What is your stance about marketing for startups, and do you think that the factors I have mentioned are enough? If you like to add something to this blog based on your experience, you are more than welcome to speak up.
Please use the comments section below for any queries that you have in mind or for offering your honest and valuable feedback.
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