As a startup company, it’s normal to feel overwhelmed with the amount of work you must do to be noticed by investors and customers. And your growth marketing strategy plays a huge role in your success. Unfortunately, most startups often find themselves ignoring it. So despite providing promising products and services, they see little income return.
Forbes recently reported that startup companies’ rates are dismal, with up to 90% of new businesses failing. So as a business owner and founder, you should take this statistic seriously. Use it as a motivation to do better, especially in marketing your company and products.
Your startup will have better brand visibility, sales, and returning customers with the right blend of growth marketing schemes. To make it easier on your end, here are some of the most effective marketing strategies to boost your startup and ensure that it will last for a pretty long time.
Here are 6 Fireproof Growth Marketing That Every Startup Should Implement
Have A Good Grasp For Effective Marketing
Before you can possibly launch a successful multifaceted marketing strategy for your new company, you need to have a thorough foundation of the entire marketing process. This includes doing your research on:
- What growth marketing is and who it is for
- How using marketing research can help your business succeed
- Using multiple marketing channels and platforms to promote your business, image, and products
By asking, “what is marketing?” you allow your startup to speed up business workflow. However, there’s a common misconception that marketing involves a costly budget — but it does not. You can develop an efficient marketing plant without spending way too much money. You only need to be creative with how you present your brand to the market despite being a small business.
With this in mind, it’s essential to familiarize yourself and your employees with some growth marketing basics such as local advertising and search engine optimization (SEO). Using these methods will help you promote your business without going way over your budget.
Know Your Target Market And Competitors
Did you know that one of the many principles of small business advertising is having a clear grasp of your target market and prospective customers? Knowing detailed information such as your customers’ age, gender, and preferences will help you develop appropriate products. In addition, it will help you generate effective growth marketing tactics to get their attention.
Having a clear concept of your buyer personas will make it easier on your end to identify your brand’s target audience. As such, your marketing efforts will primarily be directed to them. And because they are more likely to become interested in your products and services, your efforts won’t be put to waste. However, this does not mean that you should always avoid inviting unconventional customer clusters.
One of the best ways to identify your audience is by being as detailed as possible. Some data to collect are:
- Living location
- Online services in use
- How they look for products and services related to your niche
But don’t worry if you have a broad target market; you can easily categorize them into different segments. And from there, you can create separate and joined marketing content to catch their attention.
Another thing to consider is analyzing your competitors. They are most probably getting as much information from their target market, so learn from their mistakes and achievements, then apply proper caution and tactics to your company’s marketing strategies.
And last but certainly not least, always watch your ad sets analytics movement to know what type of people typically interact with your campaign. You may use this data to understand the unique characteristics that your target audience possesses. Then, try your best to incorporate it into future growth marketing methods.
Utilize The SMART Strategy
SMART stands for Specific, Measurable, Attainable, Relevant, and Timely. And by utilizing this highly effective marketing strategy as your guide, you’ll have a solid method to follow throughout your marketing journey.
Using SMART goals is to help your business succeed despite being a newbie. It’s a method used to have a sense of direction and better effort organization to avoid wasting your time and money. Although long-running organizations also use SMART, this method is exceptionally effective for startups.
Some SMART goal examples include:
- Create 10 new sales-focused blogs to encourage customers to check you out
- Drive organic traffic higher on your website by at least 50% before the end of 2022
- Generate and publish several web pages to promote your new products by X date
- Secure 3-5 placements on social media by utilizing digital PR before X date
Although the examples mentioned above are quite basic, they will undoubtedly raise your business profile when used together. Moreover, it won’t cost too much money — the only valid resources would be time and effort. So instead of using your capabilities across multiple initiatives, it would be best if you could focus on the aspects that will support your current project.
Remember: the key to sustained success and growth is consistency. And don’t worry because SMART will help your growth marketing campaign flourish.
Build Your Digital Presence
Nowadays, almost everyone uses the Internet to keep up with the entire world. Statistics show that up to 97% of individuals use search engines to look for various businesses. With this information, you can conclude that having an online presence is a crucial aspect that a startup company shouldn’t pass upon.
For your first step, make sure to build a user-friendly business website to help customers know more about your brand. It’s not an easy task, but don’t worry because you can revise its layout and content to develop better growth marketing schemes.
Having a website allows existing customers and prospective buyers to know more about your offers. You may also set up a review portion to ensure that previous customers may talk about their experience while using your products or services. But don’t forget your startup security by following cybersecurity practices.
Another step would be running advertisements for short-term results. You can’t always rely on long-term strategies — having immediate, and short-term benefits would also boost your growth marketing efforts. And running effective ad campaigns would help you generate quick and qualified leads, therefore increasing your sales even for a short period of time.
But what type of ads should you try out? Here are some of the most used tools:
Google Search Ads
Google Search Ads is the ideal tool for when your target audience already knows the products and services you offer. With this, they can search on Google and find the appropriate sellers online.
As a rule of thumb, people don’t necessarily go on social media to shop. So, using social medial ads would be the best option for those businesses whose products aren’t well known. You can catch the audience’s attention by generating fun, creative, and engaging ads.
It’s the ideal advertising tool for boosting brand awareness and re-targetting your specific audience.
Have An Engaging Social Media Brand
Moreover, being on multiple social media platforms allows you to interact with your target audience. It will also give you a better opportunity to generate word-of-mouth advertising, thereby building your brand without excessing ads. Another thing to consider is mixing social media marketing with traditional media. It will boost your brand both digitally and physically, allowing you to be seen by more people.
Below are a few popular social media platforms to engage with:
Although it’s challenging to have a constant presence online, you shouldn’t neglect it. Most companies even have their own social media team that creates and manages social media posts. Some also have social media growth marketing administrators to ensure that their brand has constant communication with their audience.
Email Growth Marketing
Email targeting is an oldie but a goodie — it’s a traditional growth marketing strategy that involves cold emailing prospect customers. It’s a voluminous process that ultimately helps with groundwork. In fact, it marks one of the speediest ways of getting client information and specific data. However, it has one con: emails are usually unchecked by recipients.
With this in mind, you must do proper research for your startup and its target market — as stated in the first marketing tip. Then, use the collected data to be as specific as possible when generating email content.
Moreover, having a lead generation would also help you out. From the list, you can conveniently send email blasts without manually sending them out one by one.
There’s no surefire way for a startup to succeed in the business world. Hundreds of factors come into play, so it’s essential to be wise when making decisions. First, however, your business would benefit from an effective growth marketing campaign featuring multiple strategies for building your brand image and generating sales.
Your startup business will be a few steps ahead of your competitors by following these growth marketing strategies. And remember: each company has its strengths and weaknesses. So be sure to play your cards right and learn from your competitors’ mistakes in growth marketing.