Marketing is a vital aspect for your business, for it has the potential to push your business up to the sky. On the other hand, marketing can descend your business to the earth and contributes to headache as well as the loss of investors and customers. Therefore, your business needs a marketing strategy that can help it achieve its objectives.
Marketing strategy is influenced by several factors like market, product, business model, and a budget. Thus, it’s appropriate to say that budget dictates what marketing strategy a startup will use.
Although marketing strategy differs from one startup to the other, there are specific factors that are universal across all businesses. The article will highlight these elements and different marketing strategies available for startups.
General Factors that Influence your Marketing Strategy
- The target market segment: Who are you targeting?
- Benefits of purchasing your products: Why should customers buy your products and services?
- The unique sales proposition: What differentiates you from other sellers in the market?
15 Creative Marketing Strategies to help you Gain a Competitive Edge
1. Update Your Website Regularly
Build a website that direct customers to your products and services. Further, create relevant content for your website. Thus, ensure your site has up to date content in the form of insightful articles, videos, and blogs suitable for your audience.
2. Establish a Referral Network
Word of mouth and referral programs are some of the less costly, powerful marketing tools at your fingertips. Encourage your customers to refer their friends and family to your business. However, ensure that your service is topnotch to avoid a bad reputation instead.
3. Automate your tasks
As your business grows, so will your tasks, and after a while, it can become overwhelming. One way to prevent this from happening is to automate your work. We’re all told that we need to post multiple posts per week or even daily if we want to stay relevant on social media, but scheduling each and every one might take precious time that we no longer have. If you want to stay ahead of the game, you need to find tools that help you schedule Instagram posts, queue tweets and even batch edit Facebook posts. Work smarter, not harder.
4. Create an App
If you want to reach an even greater audience, you need to have a mobile app. Although it’s important to create a website that is mobile-friendly, having a mobile app helps users find what they’re looking for quicker, with the added benefit of always being reminded of your business because they regularly see it on their phone’s menu.
The good news is that building an app from scratch has never been easier. All you need to do is look for a professional app creator to make your custom mobile app – no coding required. You can have a fully functional mobile application up and running in no time.
5. Craft a Loyalty Scheme
Most businesses have loyalty programs that drive their sales. The scheme rewards customers, thus encouraging them to shop more to gain points which they can redeem later or win extra services or free products. Startups can use this strategy without feeling small, for there is more to gain than lose.
6. Sponsor Local Events
Choose local events or teams and sponsor their activities that are aligned with your business. Is there a small football team in the community that you like and can sponsor? Why not print their uniform and get your company logo on them.
You can also show-off their future games on your website and social media platforms. The process will advertise your company and exhibit a community spirit.
7. Encourage User Generated Content
The startups can embrace content generated by their users. For instance, millennials’ purchases are influenced by what their peers say more than what other media report about your products and services.
Thus, allow your customers to exchange ideas and share their experiences on your platform. In other words, you’re giving them a tool that advertises your business.
8. Listen To Your Customers
Keep your ear on the ground. That is, allow your customers to provide feedback about your product and services. You can achieve this by inviting your customers to give feedback on social media platforms like Twitter, Instagram, and Facebook.
You can have a survey and ask your target audience to share their views about the company. A word of caution here is that use this information to improve your business.
9. Allow Customers to Interact
Create an open forum where customers interact with the company and other customers. You can create an online tool that connects business owners or customers. Other companies organize events that bring customers together and allows them to interact.
10. Work With Top Influencers
Allow influencers in your industry to share inspirational content on your Instagram account. This will provide your business with an opportunity to tap into a new audience.
11. Partnering With Allies
You can collaborate with fellow startups to deliver better content. These marketing partnerships are less costly, delivers success quickly, and serves a bigger audience than when you do it alone. Your allies could be suppliers or businesses providing complementary goods and services.
12. Involve Your Employees
Your team should be your greatest brand advocates and champions. Thus, encourage them to share company’s videos, photos, and write-ups with their family and friends.
13. Create an eBook
People value books more than any other form of content. EBooks allows you to display your expertise and knowledge. Why not create eBooks and distribute them for free to your customer or at a small fee to new customers.
14. Build a Strong Network
Establish a strong network and market your business there. Building a network starts with becoming a people person as much as you can. That means socializing with people, joining in conversations, doing follow-ups, responding to emails, and calling people that cross your path.
Thus, instead of knowing every entrepreneur in your community, industry, country, and foreign countries, endeavor to make genuine connections that can result in business-related benefits.
15. Use Big Data to Reach Out to Customer
You can use big data to target specific customers. You can get in touch with customers before they turn to your business seeking your service or looking for your products. For instance, does your store sell generators? Why not get in touch with customers before a storm or hurricane? Power outages are inevitable during this season. Does your company sell kayaks and boats, why not reach out to customers as winter months come to a close.
16. Promote Your Brand in New Platforms and Channels
Look out for platforms that market startups without charges. These free forums will not only get you customers, but they will also link you with investors and incubator programs. Create your profile in AngelList, Bing places for business, CrunchBase, Google My Business, LinkedIn, Reddit, and Yelp.
17. Don’t Ignore Your Existing Customers
Every business desires to grow its database. That means they have to obtain new customers. In most cases, businesses forget their existing customers since they have already won their loyalty. Therefore, plan to make them feel appreciated by giving them something extra. Marketing to both new and current customers should be your strategy.
Marketing your startups will increase your customers and sales. However, your efforts can hit the wall when they are not strategically directed.
Therefore, breathe life into your marketing strategies by applying appropriate tactics. Startups rely on tactics and deals to grow at the same time to save their limited resources.