Most startups fail within the first year of business, and even fewer of them make it past the 5-year mark. There are a number of reasons why this is the case, but quite often it is because they have failed to market themselves effectively.
If you want to be successful as a startup entrepreneur then you need to nail your marketing campaigns right from the off. If you can’t do that, you will struggle to gain enough momentum to keep you afloat until things really take off, and they never will without the right marketing strategy.
So, marketing is important, but how do you get it right as a startup?
Collect and Use Data
Probably the best way to ensure that your marketing efforts are on point is by collecting data from your target audience, analyzing it and then marketing in ways that you know your audience will be receptive to. If you don’t have time to collect, analyze and act on data yourself, have a marketing agency like MyOptimind take care of it for you. It has never been easier to collect data and gain a deep level of insight into your audience, so you would be foolish not to do so.
Show Your Difference
Unless you’ve invented a really unique product, chances are that you will be competing with a whole lot of other companies, many of whom will be way more established than you are. The only real hope you have of competing with them is showing your audience that you are different. If you can show them how and why you do things differently – and the why must represent a benefit to them – they are way more likely to be interested and give you a chance.
A really good way of convincing people to buy stuff from your startup is by first building your authority in your niche. You can do this by writing blog posts, making how-to videos and engaging on niche forums. Once you put yourself out there and people see that you know your stuff, they will automatically be more interested in doing business with you than someone they don’t know who may or may not have as much knowledge as you.
Sponsor a Community Event
If your startup is locally based, a very effective way of marketing yourself is by sponsoring a local event, such as raising funds for a local charity or community project like the Florida Coalition Against Domestic Violence. This will automatically show you in a positive light, and people will respond positively to you and your company as a result.
Engage Your Customers
Instead of simply selling to them, seek to engage with your customers instead. Start conversations with them on social media, ask them what they think about your products and what special offers they would like to see and they will treat you more like a friend or acquaintance than a salesman, and they will be more likely to act and buy something for you as a result.
If you try some of the above techniques and you keep working at it, you will start winning people round to your startup, and you will still be in business this time next year.