6 Essential Marketing Strategies For Any Start-Up

Launching a business is not easy when you are new to the industry and unaware of the proven polic

...

ies and approaches. A start-up is usually the mani...

6 Essential Marketing Strategies For Any Start-Up
Lucas Nguyen Image
Lucas Nguyen
Updated: Friday 15th of July 2022
Strategy

Launching a business is not easy when you are new to the industry and unaware of the proven policies and approaches. A start-up is usually the manifestation of an idea that has the potential to grow because of its high-value offerings. However, communicating the same to the target audience can be challenging because of the lack of marketing knowledge among the founders. In the introduction stage of the business lifecycle, brand building and awareness are supremely vital and possess the power to decide the start-up's fate.

Thus, marketing is a capital-intensive and indispensable process, which should be highly targeted, informative and measurable to get the desired results. Messing up the strategy means the founders have lost their only chance to woo the audience. The newly launched businesses need to get it right in the first place. So, here is a list of six essential marketing strategies for start-ups that are budget-friendly and promise high growth.

1. Create SMART Marketing Goals

The acronym SMART stands for specific, measurable, attainable, relevant and timely. Every start-up needs to have goals that fit into these parameters to accomplish them. Setting the objectives must be the growth of the start-up in the initial phase by generating new sales and acquiring customers. The marketing objectives should not be vague and must be quantifiable, such as increasing conversions by 20% in the next quarter.

The goals should be determined after thorough market research and developing a branding policy for the target buyers to create an identity for the company. The colour scheme, messaging, logo, design and content style should match the brand image and help in positioning it effectively. Thus, the promotion should be a coordinated effort that maintains consistency and synchronisation.

The marketing team must know the buyer’s persona and have their key performance indicators (KPIs) tied to the marketing objectives. These are vital for start-ups and businesses for sale in Melbourne to showcase their strengths.

2. Develop A Unique Selling Proposition

The unique selling proposition or USP of the start-up should be clearly defined by the business. Many entrepreneurs try to convince the target audience about quality of their products by talking about the price and the features. However, it does not help the buyers to differentiate the product from competitors. The cluttered marketplace needs easily distinguishable features to retain the brand’s identity in their minds.

The company should use its strengths to create its USP which must be communicated through marketing. Many brands thrive on the USP of offering a customised service or ethically produced goods. You need to identify this feature of your business that is advantageous for the customers and is not offered by others in the segment.

It is also important to have a vision statement for the start-up because customers wish to know what the company intends to achieve in the long run. It gives them an insight into the value system of the venture and builds a stronger connection.

3. Invest in Digital Marketing

Getting high website traffic organically is a must for a start-up to generate leads and conversions. Thus, they need to begin using SEO, paid search advertising, content marketing, email marketing, blogs, and more. The content on the website and blogs should be optimised with long-tail keywords to get website traffic with a buying intent. It must be valuable and highly relevant to the visitors, which helps to increase business credibility and gain higher search engine ranking.

Paid advertising on search engines is highly beneficial in getting targeted traffic. The cost-per-click pricing of these ads ensures that your ad budget is not wasted, and you get value for money. Making the content go viral is another way of marketing it and creating brand positioning.

Also, an organically created email list for marketing can work wonders in getting more traffic to the site. Sharing the regularly updated content on other platforms and getting backlinks increases inbound traffic.

4. Build A Social Media Marketing Plan

Spending time on social media has become the most preferred online activity of consumers. Thus, it has become imperative to promote the brand on social media platforms to get the desired sales. It extends the opportunity to create word-of-mouth publicity through an integrated marketing approach followed by the business.

To make this successful, the start-up should know which platform is frequently used by the target audience and must use the same channel to engage, communicate and influence the audience. Sharing relevant and high-value content is vital on the social network as well.

Platforms like Instagram, TikTok, Facebook, YouTube, Snapchat, etc., can make the content viral quickly and offer a chance to have two-way communication with your buyers. So, you can use influencer marketing, address their concerns, answer questions, and advertise your products easily.

5. Develop A Referral Program

Referrals are useful for start-ups because they allow customer acquisition which can be too expensive for a new business. It involves asking your loyal customers to refer their friends and family to increase your customer base. It works well for the start-up because most buyers rely on the opinion of their peers before making a purchase. Getting a recommendation makes them take the final step without thinking.

Also, the start-up should reward loyal customers for every referral so that they can bring more people to the business. The communication about the referral program must reach all your current buyers and must thank them for their support of the brand.

6. Get Customer Feedback and Retarget

Customer reviews and ratings have become highly significant in the online market. Every buyer checks the reviews before making a purchase. If the business does not have any testimonials to display, it can appear untrustworthy to the customers. Budding entrepreneurs must keep it in mind to purchase a business for sale in Melbourne that is well-liked by the audience and has their stamp of approval.

Customer feedback can be used as social proof by the start-up. Thus, satisfied customers must provide their unbiased opinions on the website, Google Reviews, and other online platforms to get approval. If you get criticised by the customers, you should not hide the comments. Instead, provide them with solutions and immediately alleviate their predicament. Be empathetic, polite, and prompt while addressing their problems.

Conclusion

A start-up is more vulnerable than an established business because it does not enjoy goodwill, reputation and a wide customer base. It can achieve these milestones through an effective marketing strategy that takes a comprehensive approach.

Author Info
Lucas Nguyen

Lucas Nguyen is an immigration expert with loads of experience of working in public sector and as an in-house lawyer. Lucas graduated with a Bachelor of Law and Master of Law in Global Business Law from La Trobe University. His sole aim is to provide best legal services, to his clients, on complex Australian Immigration Laws and commercial transactions. His association with Business2Sell is not new, and we welcome him as our guest author.

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