In one article from Forbes, Neil Patel notes that up to 90% of startups fail. This is an overwhelming and discouraging number for most people who plan to enter the world of startups.
There are many reasons for startup failure, such as lack of product-market fit, growing too fast, and lack of required knowledge and skills. Another reason is ineffective marketing. If you don’t do your marketing right, you won’t make sales. And if you don’t make sales, you won’t have a business the next day. It is as simple as that.
Having a startup marketing strategy is vital to the survival of your startup. And if you read on, we will examine 11 ways you can do your marketing just right so as to increase your chances of having a successful startup. Here they are in no particular order:
1. Educate Yourself
You must invest in marketing education if you plan to effectively promote your startup. This does not necessarily mean that you should enroll in a university and take a bachelor’s degree in marketing. You can enhance your marketing knowledge in many ways including reading and attending seminars. You can equally enroll in a digital marketing analytics course. These courses and seminars will give you comprehensive knowledge on how to analyze your marketing campaigns to ensure that it yields the anticipated outcomes.
2. Know Your Audience
To build a solid marketing strategy for your startup, one of the most important things you can do is to get a clear definition of your target market. If you know your audience by heart, it will be easier to create campaigns that speak directly to them. You will know what they will find engaging and entertaining. This also means that your marketing budget will not go to waste since you are speaking directly to the people who will most likely patronize your startup.
3. Use Social Media
While many platforms are promising for successful startup marketing, do not forget to tap the power of social media. Whether it is Facebook or Instagram, among others, use social media platforms to promote your startup. You will enjoy its extensive reach without spending too much. However, you first need to identify if your target market is on social media, as well as the platforms they are using.
4. Target People’s Emotions
Emotional marketing helps fuel the success of your startup. Your promotional campaigns should target the emotions of your target market. It can make the business resonate with your audience, prompting them to make a reasonable action. To appeal to their emotions, make your message relatable. Speak from the heart and people will feel that you are being genuine.
5. Sponsor an Event
Be part of the local community and sponsor a local event. This is not only a marketing opportunity, but it also allows you to demonstrate social responsibility. During the event, use booths, banners, and other materials to promote your startup. This will be effective in driving sales and awareness.
6. Invest in Your Network
Networking is one of the most effective strategies when it comes to marketing your startup. Focus on strategies that will allow you to build a bigger network. Take advantage of any opportunity you have to meet other people and introduce your startup. Attend events where you will have the chance to come face-to-face with potential customers. This gives you the chance to spread the word about what you are doing, and in the end, attract possible clients.
7. Build a Website
Do not underestimate the importance of a website for the success of your startup. This improves your visibility in the online world. Considering that we live in a digital era, it is important to be present in electronic platforms to reach your target audience. To make your website successful, pay attention to search engine optimization. This will improve your search engine ranking and increase the traffic you get on your site. Also, you need a content strategy plan to make the website informative, engaging, and relevant.
8. Go Mobile
Many people use their smartphone daily, so take advantage of this behavior pattern in marketing your startup. According to Smart Insights, 80% of internet users have a smartphone. With this, if you plan to build a website for your start-up, make sure that it is mobile-responsive. You can also use app-based and in-game marketing as a part of your promotional strategies. Location-based marketing can also contribute to the success of your startup.
9. Work with the Right People
Marketing your startup should not be a one-person job, especially if you lack experience and expertise. It is best to work with professionals who have the knowledge and skills necessary for promoting your startup. You can even outsource marketing services to take advantage of a global pool of talent without spending a fortune. With the right team, there is a higher likelihood that your marketing campaigns will succeed. And with the wrong team, there are chances your marketing campaigns may not convert.
10. Test Your Strategies
According to Entrepreneur, marketing testing includes strategies “to test multiple marketing scenarios and select the most promising”. This involves releasing the marketing materials to a select group of the audience first. You will then pay attention to how they receive it. From here, you can decide if you can finally launch it or continue formulating other strategies that can be more promising in terms of its outcomes.
11. Think Outside of the Box
Do not be just like any other startup, especially when it comes to your marketing efforts. Dare to be bold! Execute innovative marketing strategies. Employ global marketing strategies. Do not be afraid to explore new ideas. This will make your marketing campaigns more memorable, increasing the chances that it will stand out and become the market leader.
Effective marketing is one of the secrets to building a successful startup. From being an educated marketer to thinking outside of the box, consider the suggestions above to increase the likelihood that your startup will succeed.