Marketing is an important aspect for all business endeavours, but it’s even more important for startups. When you are at the initial stage of your startup, you are struggling to create an image of your company. Unless people know about the values of your startup and what it promises to offer, no bond will form with the customers.
Marketing strategies help you reach out to your customers, it helps you mark your presence in your customers’ lives. In turn, more and more people start knowing about your company and your startup flourishes. But since startups thrive on limited budgets, it’s not always possible for the endeavour to invest large amounts of cash in advertisement campaigns.
The following 7 steps are some ways you could market your products and services even on a low budget :
- Email Marketing
Email marketing is an effective way to attract a customer base for your startup product or service. Besides being effective, it is also inexpensive and requires little effort. First, you need to create a subscriber list by collecting the email addresses of all the prospective customers. Email-Id can be collected by asking people to sign-up to your company’s website and subscribe for updates / newsletters and other communication, or you can ask the prospects in return of knowledge such as white paper / reports etc.
Your mailer content should contain quality information which will be useful for your prospect and worth their time. Avoid filling up the mails with excessive product details, self-appraisals and advertisements.
- Content Marketing
Content marketing is one of those little-known gems in the world of marketing strategies for startups. Producing quality content regularly and religiously is an extremely effective way to build authority over a given topic or search term.Please note the terms regularly and religiously.
Good relevant content build authority of startup product or service on internet and regular updates build freshness hence driving better ranking on search engines. To produce quality content, you can use various mediums like blogs or even LinkedIn. It builds the credibility of your company by educating and empowering the readers. Being guest-writers on other people’s established blogs also helps. Your aim should be producing content that is worth your reader’s time and attention, which will help you garner trust for your own startup.
- Social Media Marketing
As per the current scenario, social media has been intricately incorporated in people’s lives. It is our first interaction of the day with the outside world. Therefore, using social media platforms to reach out to a large and ever-growing customer base is extremely important. A robust and prominent social media presence of your company helps it gain recognition among people. To build a strong social media profile, you need to ensure that your posts are relevant to your product/services. The customers should find the posts relatable and engaging at the same time. Social media platforms also give you an opportunity to interact with your customers via texts and comments. This helps you form a bond with your target customers.
- Hosting and Sponsoring Events
Networking events are meant for meeting new people, building connections and reaching out to potential clients. They provide a healthy environment for networking and interaction of like-minded individuals who are looking forward to doing business with promising companies. You can initiate and expand your talent hunt by taking the time to speak at such events and meetups. Speaking engagements are great opportunities to promote your company’s vision and goals to potential customers and help your startup grow.
- Receiving Publicity
Receiving good publicity is an amazing strategy to get your startup noticed by new customers and help more people discover your product. This can be done by taking help of bloggers or social media influencers whose work is relevant to your product or service. Sending them personal email is one approach. You can also arrange for meetings to talk about the values and motive of your startup to the individuals in person. This approach is definitely more effective than email correspondence. If they agree to promote your product on their blog/channel, the probability of their loyal follower base trying out your products increases.
Word-Of-Mouth is one of the most underrated and yet the surprisingly effect marketing strategy. This requires you to build stronger relationships with influential customers to ensure that they refer to your company’s products or services to people who might ask for their suggestions. This method is free-of-cost. The only effort it needs is to take special care of certain clients who may give good recommendations about your startups to future, potential customers.
- Customer reviews
Customer reviews are often a neglected aspect of marketing your product. But it is actually very important. When a potential customer is thinking about investing in your product or a service, they usually take help of various websites to check for customer reviews. The customer will proceed with the investment only if a majority of the reviews are positive. Getting good customer review requires no extra effort. It is a part of your company’s agenda – to ensure customer satisfaction. Unhappy customers leave bad reviews, which impact your future sales. A satisfied and happy customer is likely to do business again with your company. Additionally, their good reviews online will attract new customers.