A startup is not like any other company. For established companies, success and profits are an obsession. However, for a startup, to make it big is a dream, and a dream is purer that obsessions. Sadly, in the ruthless world of business, there is no room for sentiments and no scope for startups that cannot be as efficient or ruthless as major corporations. Given this, the one aspect where startups get trumped by big corporations is marketing. Unable to spend as affluently as the big companies, their product/services hardly get any recognition in the vast market. To rise up from this major problem, here are some of the vital marketing strategies that every startup should consider.
Holding on to a strategic position
Instead of starting aimlessly, the startup should first and foremost define the category that its products or services fall under. Whether it’s a service or a product, if it’s a luxury item or a necessity – all of these questions need to be answered first. Then the key product benefits should be discussed and outlined. What is the core value proposition that the product is offering? Who are the prominent competitors who have set the benchmark in the industry? For the first one to two years, the marketing strategy should be as basic and primary as this. It is the time period where the marketing should be focused on finding out who exactly the startup’s ideal customer is and why they would want to conduct business with them. After finding out the exact target audience, sales promotions can be designed around that group of people.
Going for content marketing
Publishing relatable and quality content on a daily basis is a substantial benefit for marketing. What happens with well written articles and posts is that subconsciously the reader registers the brand name, making it easier for the company to shape relationships with potential customers. Fundamentally, content marketing is primarily about relationship building with a large number of people. Through the help of effective blogging, a small startup can speedily mature into a giant voice and convert into an industry opinion leader, consequently reaping the rewards of the incoming business.
Indulging in effective public relations
Using professional media outlets, informal social media communication can also be a great asset for a startup. These efforts help in enhancing the brand’s identity and increase the startup’s visibility in the market. Good press coverage is also one of the main catalysts for startups to attract public attention. Selling a local newspaper section or a small segment on a broadcast report just to share what exactly is compelling about the startup, showing the human side to the business – all of these little steps must not be overseen.
Lastly, marketers should keep an eye on what’s going viral on the internet and try their best to jump on the bandwagon. Even though going viral can almost be like hitting the jackpot, it is not always achievable. What is achievable however is a great marketing strategy by following these tips.