Start-up marketing or how to achieve more on a small budget
Perhaps you find yourself in the middle of an exciting formative phase or you are just about to get your start-up off the ground. Perhaps you are working hard to expand your business and would like to make people more aware of you and your company. Regardless of the phase you are in, attracting customers on a small budget is not easy for a company in its infant stages. Obviously, you would prefer to be able to share your ideas and visions with the entire world. This is exactly what we want to help you with when we provide you with the following marketing and business growth tips. Without good marketing, successful start-ups will not succeed. By utilizing a few tricks and original initiatives, you can achieve much more on a conservative budget.
Use the materials available to you
A common problem for start-ups is budget constraints. If capital is an issue and expanding your young business is faced with challenges, you can always fall back on valuable resources. Your key resource is the passion you possess for what you do. Your passion is contagious and can affect those around you. If you think about your team, you will probably find passion and unique skills in each and every individual. Make sure that each team member has the opportunity to utilize his or her strengths and ensure that an open communication culture exists between team members. This will ensure that the ideas and visions of every individual can be communicated and taken seriously.
Discover the endless possibilities of the Internet
An attractive web presence is the basis for successful marketing in the digital world. Not only is it important to have a clear and simple website where customers and partners can find information about your business, creating a strong social media presence also provides your business with endless possibilities. The first step is to put yourself in the shoes of your target market to determine which communication channels and what types of content you should use to reach them. You will be amazed at how easy it is to contact the appropriate target market over the internet.
Furthermore, start-up founders are always pleased to hear that online marketing strategies have a very lower cost in comparison to offline advertising. Don't forget about your team's talents and strengths. Your team members can be excellent authentic brand ambassadors for your brand. Perhaps you have a team member who enjoys writing, has a passion for blogging, or does professional photography or filming? Your colleagues would be thrilled to be involved in your online marketing efforts.
Be where your customers are
Perhaps you have decided on distributing a regular newsletter, and/or participating in social media marketing. Irrespective of which route you decide to take, involve your team and work together. That means keeping your customers and those interested in the start-up informed by providing them with regular updates. We know operating a start-up business is demanding and that financial and temporal resources are often in short supply. In this case, investing your time will be well worth it long-term. Therefore, we recommend that you put aside some time to use targeted advertising and active business marketing.
In a start-up environment, a lot can change in the space of a day. You should take the same dynamic approach with your customers and fans. Give your social media fans a glimpse behind the scenes and communicate any ground-breaking innovations which have taken place. This is where tact is particularly important. On the one hand, your followers will welcome updates and will want to know as much as possible about your start-up. On the other hand, during the expansion phase, there are always dynamic changes occurring and information which must be handled with a certain degree of sensitivity yet must be communicated to your fans and followers in a frank manner. The most important thing is to be yourself and be honest. Have a chat with your team about how to effectively communicate potential challenges or changes to your fan base. Naturally, social media isn't just about exchanging information. Similar to real life experiences, fans will cheer you on and celebrate your successes. When running an intense start-up, you often forget to pause, take a deep breath and celebrate your milestones. It’s important to treat yourself and your team to a breather every now and then and celebrate your successes. Another option is to feed little tit bits of information to fans or engage them emotionally with photos or a videos.
Tip: Find your own personal combination of informative, emotive and entertaining updates. Let sparks fly but be yourself.
Think big but grow sustainably
It takes courage to think big. Founders need courage to drive their business ahead. Many start-ups want to change the world in a day. Although this is a huge challenge, it is also a necessary motivator. Go ahead and think big but don't lose yourself in your thoughts. Exploit your visions and marketing objective to the fullest.
Perhaps your start up is currently focused on the regional market but has the potential to become a global maverick. Test out your own boundaries, marketing strategy and structures - and optimize these regularly. Keep your eyes open as you navigate through the world of business and exchange information about your start-up with as many people as possible. This way, partnerships can be established quickly and both parties can benefit. It doesn't matter if your partnership is with an international company, a small organization or with famous individuals. Partnerships are a cost-effective way of marketing your business in a targeted fashion and can bring you diverse opportunities. Be creative and think about how you can establish a partnership and which activities can help you progress.
Although it is important to look ahead, we do recommend that you focus on healthy, sustainable growth. Stick to your budget and keep your target market's needs in mind during intense growth phases. A healthy growth strategy goes hand in hand with a healthy financial strategy. For example, you could prioritize growth tactics and complete each one, one step at a time.
Ascertain goals and strategies but remain flexible
Naturally, start-ups require a marketing plan and a strategic orientation. It is important to have a reasonable degree of flexibility since your marketing strategy must be adaptable, especially in a young firm. You can also save yourself losses when you’re able to react quickly to possible changes.
Define your goals and establish which aspects are important to achieving the goals you have set. The more you define what you wish to achieve, the easier it will be to ascertain the success of your measures. Analyzing the measures you have implemented allows you to recognize where there’s room for improvement, and also shows you where to allocate dollars. Obviously, it's important to approach change dynamically in your young, growing business.
Last but not least, don't forget, when you are growing a start-up business, you are running a marathon, not a race. You and your team will require stamina and a lot of energy. You also want to have fun. There is nothing more fulfilling than realizing a dream alongside a fantastic team. We wish you all the best in reaching your goals and milestones.