We all would love to win the lottery. And in the entrepreneur and startup world,
landing a large investment at the onset is just as likely as winning said
lottery. So, it’s likely that you don’t
have a great deal of cash to spend on marketing for your business. And that
sucks. But, you can still develop an effective
and efficient, successful marketing plan – even with limited resources. How?
The majority of startups don’t have enough money to hire a marketing expert right away. Therefore, it’s up to you to determine the best route to take to get the word out regarding your startup. If you’re working with a very small budget, the road to success can get tough. But, keep the faith because here are a few guidelines that will get you started in the right direction.
The majority of startups don’t have enough money to hire a marketing expert right away. Therefore, it’s up to you to determine the best route to take to get the word out regarding your startup. If you’re working with a very small budget, the road to success can get tough. But, keep the faith because here are a few guidelines that will get you started in the right direction.
1. Solidify your
brand.
You must have a solid concept regarding what your business
is, what you desire to accomplish, and why it even exists before you can even
think about launching a successful marketing campaign. Make sure you know
exactly who you are, since understanding this will greatly help you determine
how to position both you and your company.
·
Stay
true to yourself.
Be yourself and stay true to your original business concept. Show people who you really are and don’t pretend to be somebody you’re not.
·
Determine
why you’re unique and what sets you apart from your competitors.
This is your key selling point. What can you offer the world in a special and unique way that no one else can? If you’ve ever watched Shark Tank, you know how detrimental it is to show up without a solid understanding of what sets your business apart and what the competitive landscape is. The Sharks will rip you apart…and so will your prospects.
·
Be
consistent when presenting your image.
Don’t try to change your image to attract a variety of audiences. Present a consistent overall look and feel so you’re crystal clear about who you are.
If your business is experiencing an identity crisis, it’s
best to address it prior to marketing your company. If a brand is continually
changing their approach or image, it can be a huge red flag to potential
customers. While every startup will inevitably face challenges that will make
them rethink or even second-guess certain things, branding is the one aspect
that you can control 100 percent right from the start.
Simple tip: Use the same company name and your name
consistently. If people know you as James T. Kirk, then use that name
everywhere in exactly the same way. Don’t be James on your business card
and then Jim on LinkedIn. The same is true with your company name.
2. Clearly define
your key goals and metrics.
The less money you have to work with, the more you need to
be completely clear and detailed concerning your goals. Of course, you want to
make money, but not every marketing endeavor is going to make money. Therefore,
you need to figure out all the potential outcomes in terms of what you actually
consider ‘success’; whether that means a certain amount of lead generations,
more subscribers to your list, or more traffic to your website. All of these
things combined mean more publicity regarding your startup and can eventually
result in making more money.
3. Determine your
budget.
This is a complicated, yet simple step. Determining your
budget simply means figuring out how much cash you can actually afford to spend
on marketing and how much time you can spend both planning and managing your
marketing campaign?
This step often confuses people since they don’t exactly
know the amount of money it requires to achieve results. It’s kind of like “which
came first, the chicken or the egg” scenario.
Unfortunately, no magic number exists. For most startups, this dollar
amount boils down to putting aside only as much as you can spare.
Tip: Focus on
internet spending first. Other marketing
avenues can come once money flows in.
4. Choose your target
niche.
Although your products may appeal to the masses, that also
presents somewhat of a problem when marketing your business. Overall, the more
customers you desire to reach, the more money and time you will need to pull it
off. Choose a segment, or niche, of your potential audience and focus on that.
Not only will it decrease your marketing expenses, it makes sense regarding
messaging.
5. Follow and engage
with your audience through social media.
In order to succeed, you need to market your brand where
your potential customers are. If your niche is in the fashion industry, using
Pinterest is a great way to connect to your female-based audience. However, if
you want to reach young male gamers, Pinterest is not the ideal social media
channel to use.
Study the various social media outlets and find out where
your target audience hangs out so you can connect with them. Spend your time
and resources on the ones that are most conducive to your brand.
6. Focus on quality
content and audience interaction.
Although you may not have a great deal to offer people in
terms of discounts and giveaways in order to attract potential customers, you
can present good, quality content that’s related to your target audience.
The most successful brands continually share interesting
content that’s frequently not obvious advertising or a direct call for action. They
often post and share ideas that their audience is most interested in. Interact
with your audience. Directly connect with them by responding to their comments.
This is huge in terms of building a long, trustworthy relationship with your
potential customers.
7. Know your partners
and potential partners.
Find key experts within your particular industry and start
interacting with them. Follow your brand’s influencers on Facebook and Twitter
without coming right out and asking them to directly promote you. Simply
continue to comment and share the good content they keep posting. The key is to
develop a solid relationship with people. You can do that by continuing to
publish useful content that your audience can benefit from. Over time, one of
your brand’s influencers will eventually notice it and then share it, which
results in getting you exposed.
8. Listen and
observe.
You can’t simply launch a marketing campaign and receive
instant results. It doesn’t work that way in the real world. You must listen
and pay close attention to what’s actually happening. See what is trending in the news and on social
media.
Chances are your initial marketing efforts will probably
fail. Successful marketing is all about refining your methods so you can
determine what works best for you. Go back and evaluate each step of your
campaign. What areas can you improve upon? Are you targeting the wrong
audience? Are you using the wrong social media channels for your particular
niche?
Marketing your startup can be overwhelming. There are so many components to consider that
you may feel like a failure before you even start. Don’t go it alone. Enlist some help. SK
Consulting would be happy to help you effectively and efficiently navigate
the marketing landscape. From concept to
creation to implementation – we’re there with you every step of the way!