Every year, new startup enter the marketplace. However, only a few are able to make a lasting impact on the minds of consumers.
According to Small Business Trends, only forty percent of startups end up being profitable, and merely 33 percent of the remaining end up breaking even. With such challenging odds, it is understandable why most startups struggle to leave a mark.
Despite this, it is imperative for startups to invest in marketing their brand. After all, unless consumers know about them, how can they convert and help brands beat the odds stacked up against their survival?
Yet, Fundera reports that 36 percent of startups function without a website. Moreover, as per Iron Paper, over 50 percent of startups in the US spend barely two hours every day on their marketing efforts.
If you have launched or are planning to kickstart a new business, make sure to give your marketing efforts the time and budget it needs to help your brand. Here are tactics that can help.
1. Develop a simple yet effective website
According to WebFx, a whopping 75 percent of people judge the credibility of your brand based on your site’s design.
So, there is no room for a startup not to have a website. Especially post 2020, when the world is more digitalized than ever. Statista reports that over half of the world’s population is online now. And 93 percent of consumers conduct an online search before purchasing a product or service.
However, just having a website is not enough. You must offer your consumers a flawless online experience. This includes having elements like a simple navigation startup, the presence of comprehensive information, quick loading speed, a distinct call to action, and a visually stunning design.
Additionally, for better credibility, startups should focus on their blog. Add a separate tab in your website featuring blogs about your industry or niche. Here is an example of a Coder that manages to include all the required elements in its website.
See how clean the web design is. The startup’s purpose and value are clearly highlighted on the landing page banner. It also has its own blog and a clear call to action.
2. Offer free trials
Free trials are an excellent way to attract customers. In fact, as per Finance Online, approximately 48 percent of SaaS companies offer free trials to sell their solutions.
Solutions like Dropbox, HubSpot, Canva, and Netflix are just some of the solutions that benefitted from free trial models. And if you do it properly, the marketing tactic can be relevant, regardless of your niche.
For instance, FMCG products can initiate a trial by offering free samples in kiosks. Automobiles are sold by offering test drives.
Why does this tactic work? This is because:
- It lowers the cost of customer acquisition by getting the masses to use your product.
- It allows the brand to identify features that may discourage customers from purchase.
Make sure to do it properly. There is always a risk of people not wanting to upgrade to the premium version once being used to the free one. For instance, many people use Grammarly’s free version. But, the brand markets its premium tools well to convert a significant chunk of its free users into paid users.
If you are on a really tight budget for marketing your business then make a flyer for free online and share it online to get noticed in the beginning stages of your business.
The best to ensure that people don’t stick to the free version is by making it limited. For instance, Netflix only allows free streaming for a month. A similar model is used by various other companies. You can do the same.
3. Leverage user-generated content
A survey conducted by Tint revealed that 80 percent of people believe that user-generated content improves the authenticity of marketing efforts.
Additionally, when you add the fact that most startups cannot afford large-scale marketing campaigns, user-generated content seems like a cost-effective way to market your brand.
You can leverage user-generated content to boost your word of mouth by adding them to your testimonials and social media posts. For instance, encourage people to share their stories under a custom created hashtag. You can then repost the best stories on your official social media pages.
There are various startups that make use of this strategy. Here is an example of Freshly Picked. See how the brand doesn’t just share the content of its users. Instead, it gives it a definite narrative. The leather moccasins manufacturer focuses on the relationship between mothers and children.
Moreover, the startup uses a customized hashtag, as suggested above, to drive the campaign. Search for #FPmccmemories yourself and see the many heartfelt stories shared by users. As a consumer, such a campaign helps new potential customers in connecting with the business.
It is time to Strategize
Merely implementing marketing tactics won’t work unless you have a clear and well-thought-out strategy behind it. For instance, the content you add on your website or the narrative you push via your user-generated content depends on your marketing strategy.
Make sure to begin by:
- Creating a persona of your ideal buyer to understand your target audience.
- Developing your brand’s compelling idea and “reason to believe”
- Listing down marketing goals you wish to achieve from the tactics.
- Creating a 369-degree content strategy plan. See how you can leverage all the different platforms.
Ending Remarks
With the right tactics and the right plan, you can effectively market your startup despite facing a budget crunch.
We understand that taking out money for marketing can be especially hard for startups that are already strapped for cash. However, much more than established businesses, your startup needs promotion and marketing. You are relatively unknown to the masses, and to change that, you need to make an effort.
You don’t necessarily have to spend huge sums of money if you use the right tactic. The three strategies we mentioned are relatively cost-effective than other methods.
Start by implementing them. And once you begin attracting and converting customers, use some of the revenue to further expand your marketing budget.
Let our readers know if it works for you! Good luck.
AUTHOR BIO
Mary Warner is an enthusiast blogger. Her compelling research and communication capabilities exchange offerings that have value for the reader. Her passion for writing has been an ever-evolving affair. She loves to share her views related to the latest trends in marketing, technology, eCommerce, and the like.
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