Startups face many challenges that limit their survival.
90% of startups fail within the first three years. The two most common reasons for the failure of startups are low sales and the inability to cope with stiff competition in the market.
Remember, having a dedicated team, and funds are not enough to grow your startup business. You must adopt the best marketing strategy for a startup business to ensure your business survives and thrives in the market.
Let’s look at the five easy marketing strategies that every startup can use to increase its customer base and achieve a higher ROI in the shortest time possible.
1- Social Media Marketing
Social Media Marketing is one of the most successful strategies that marketers have been using to improve their companies’ online presence.
Around 12% of a typical company's budget is dedicated towards social media marketing, up from 3.5% almost a decade ago. The number indicates the importance of using social networks to promote your startup.
Apart from offering an affordable way to market your products and services, social media platforms like Facebook and YouTube also give you a chance to communicate and interact with your customers online.
You can easily get feedback from your customers and determine whether your marketing strategies are working or not.
Social media can increase the number of customers you have if you use it the right way. Here are some outstanding tips to help you get the most out of social media marketing.
Find out your target audience on social platforms and tailor your marketing message to better target them.
Respond to all comments from your social media followers. This way, you show your customers that you care for them.
Create and post quality content regularly. Always ensure the content you post on social media is highly informative and shareable across other platforms. Sharable content helps you develop more backlinks to your website.
Incorporate polls, surveys, Q&A, and gamification in your content to engage your target audience.
Ensure your social media profile is complete with images, logos, and accurate information about your business.
Reach more people on social media by joining niche related groups.
2- Email Marketing
Email marketing is one of the most successful marketing techniques for startups. At least 89% of marketing professionals believe email marketing is the most effective way to reach out to potential customers and increase leads (Intechnic, 2020).
Email marketing can help startups get up to 40x more ROI compared to other marketing strategies.
As a startup, you can use email marketing to gather more information about the market by reaching out to potential customers and industry experts. Here are some more tips that you can use for your email marketing:
Build an email list by offering free reports, trials, gifts, and demos to your target audience. With an email list, you can custom your messages and market your products and services directly to customers.
Before launching your product and service line, you can use the ‘coming soon’ phrase on every email you send. Also, inform your target audience through emails once you have launched the products.
Ensure your email subject is catchy and clear to increase your email click and open rates.
Increase email conversions by using funnels.
Do not overwhelm your customers with more emails. Send between 2 and 3 emails a week to your target customers.
Avoid jargon in your email. Make sure your email copy is clear and easy to understand. Also, use persuasive language to increase the chances of converting.
Optimize your emails for mobile devices because the majority of people use mobile phones to access their email.
3- Pay Per Click Marketing
Pay Per Click (PPC) is yet another effective strategy for attracting sales-ready leads to your business. It is a method that involves using search engines to drive more traffic to your website.
Paid ads have the following benefits to businesses:
It provides immediate results by positioning your business so potential customers can see it when they search for products that you offer.
You can limit your marketing budget when using PPC. Besides, you only pay for the service once an interested customer clicks on the advert.
It provides data that you need to develop and sharpen other marketing strategies for your startup business.
It helps you to reach a potential customer when they are just ready to buy your products.
Follow the best practices of PPC advertising to improve the campaign performance and get the most out of your efforts.
4- Search Engine Optimization (SEO)
If you are not using SEO to drive more traffic to your website, then you are missing a lot. Having the best design and amazing content is not enough to get your site on the top of search engines.
You must optimize the website to ensure it ranks up the search engine results.
SEO helps you rank on the top of search engine results pages and increase traffic to your website.
You can use SEO tools like SEMrush to conduct keyword research and create content that offers solutions and answers to what most users are looking for.
Once you create content with the right keyword density, you can quickly double the traffic to your site and improve your conversion rate.
5- Influencer Marketing
In one of the recent surveys, it was found that at least 94% of marketers believe influencer marketing can help a startup business to grow its brand in a flooded market.
Compared to other digital marketing strategies, influencer marketing is a bit more affordable to small businesses and startups. All you have to do is find a leading influencer in your industry and ask them to market your products and services.
Most startups reach out to social media influencers to promote their products on their social media profiles.
Some influencers have thousands of followers on social platforms like Instagram and Facebook, and when they promote your startup on their profile, it can drive more traffic to your website.
You can also turn a social media influencer into your brand ambassador so that they market your brand to their fans regularly.
Here are some reasons why your startup businesses should adopt influencer marketing:
- It is less expensive compared to other conventional marketing strategies.
- Influencer authenticity makes customers engage more with your products and services.
- It helps you to expose your startup business to many potential customers.
- It helps to develop trust for your brand when the influencer convinces target customers by word of mouth.
Marketing a startup is never a walk in the park. Every business owner must identify what works best for their target customers and adopt a more effective strategy to drive customers to the business.
Without a good marketing strategy, it is nearly impossible for a business to grow and compete favorably with others. The five tactics shared above are some of the best ways that every startup business should adopt if it intends to grow.