Every year new startup pop up and 90% of them get burst , my startup was also one of them. Failure help me in finding were i go wrong because earlier i don’t have knowledge on how to create an startup marketing strategy. I thought that my product was great but it don’t go that way as , Just because you think your product is awesome doesn’t mean your target audience will love what you offer them.
As building the startup is not easy it need dedication and marketing is insanely difficult. That’s where market research comes in handy.
Marketing research help in finding out if people want or need your business in their lives. If they don’t, it’s time for a rethink. Today’s startups success is based on how do they create an marketing strategy and how effective they are.
Anyone who’s started a business can relate to the passion, enthusiasm, and determination that comes naturally to entrepreneurial individuals.
So why do startup fail?
Well, there could be a lot of reason…
- Not indentifying target users of the product.
- Lack of competitor analysis,
- poor market research, and overspending.
- Run out of cash.
Steps to follow to market your startup effectively.
1.Identify your target audience
First of all before you make any marketing strategy you need to identify your target market, to whom you want to sell your product and services.
Every product has a user and every user has a need by putting the right product in front of the right user can help you to construct your brand . For instance you I know, in an ideal world, your brand would suit everybody, and the world would be your target market. But we don’t live in a perfect world, so you must split your target market into segments.
Start by focusing on specific groups of individuals and then to the wider audience.
For instance, if your company sells protein powder, will this protein powder be aimed at women, men, or both?
Will it be aimed at the weight loss market, the bodybuilding market, or both?
Can you hone it down more specifically to groups such as male bodybuilders?
To know your target audience you need to do the marketing research for your product which you can do in lot of ways:
- interview people
- conduct focus groups with selected people
- let these people try out your product or service
- listen to your customer feedback carefully
Not every business creates something unique. You may have just made improvements on products or services that already exist.
2. Analyze your Competitors:
Every startup have competitor out there and to beat your competitor you need to know their weaknesses and strengths. analyze their target audience and their flaws and make an effective marketing strategy based on it.
Put your product in front of their audience with improve features your competitors are lacking in.
Allocate the marketing budget is necessary for your startup so that you don’t overspend the money or you run out of cash.
3.Save Cash by establishing on social media channel:
Social media could be used to make your own marketing channel and having well established presence could easily make your brand go viral. you can use the platform to target your audience.
Consider creating a social media profile atleast on one of the following websites:
How many followers do you have?
When I started business profiles on Facebook and on other social media channel, all I cared about was likes and the number of followers my profiles had. These metrics made me feel good about myself and made me think I was doing a great job. But i was wrong and here is why , would you prefer 20000 random followers or 2000 real and engaging follower ? i would go with the latter one because they are really interested in the service we provide and more likely to convert.
If you have establish a presence on these platform then it could save your lot of money, Especially if you have a low marketing budget . try to analyze and do extra effort on those platforms from where your target audience are most active .
Expand your Email List
Whether you have a small user base or big one, getting your user engage to your product is the key to grow the startup and email is still a great tool for communicating with your growing audience.
Check out these email list building tips and follow them to increase your immediate network gradually.
Pick the Best Types of Content to Entice your Audience:
Well there is a lot of way you can grow your email list, Creating content is the most appropriate formats to deliver your message and entice your target audience. You may consider:
- You can write blogs on your product.
- you can make infographics
- you can do video promotions
- informative guides
- send your users newsletters
- Organize a webinars
Try to focus on any of these above options when you start out. for video promotion you can use these awesome tool:
#1. Adobe Spark
It can help you with making a great videos for your product. It help you create video from web and mobile very easily and that to with a lot of customization and other visual content.
This cross platform web app contains a suite of useful tools to create videos including impressive editing tools and templates that meet the layout specifications of each of the social media platforms. Which make it easier to create and share the videos.
Animaker is a cloud based animated video maker with ton of great features. It does provide with a lot of animation software so you can be more creative in delivery your product to the right audience.
The software really save a lot of your time with its an extensive pre-animated assets library. . You can easily create videos for all kinds of budgets. It has high end graphics and the software is very intuitive and easy to use.
With Animoto you can make marketing videos for your startup and even in slideshow form. It has a lot of customization features like you can add music and order their timing with easy. it is helps you share your stories with interesting videos. You can make marketing videos and slideshow videos. It is very easy to use. Very economical too.
Test , Measure and target your product for effective marketing:
Every marketing strategy you make don’t work all the time , you need to measure how effective they are and adapt according to it or makes changes based on your findings.
Use Google Analytics to track your web traffic to know your target audience, use email marketing tools like convertkit for effect email marketing to evaluate open rates, bounces and clicks. the amount of web traffic that you receive and where it comes from.
Follow the steps outlined so that you can create an startup marketing strategy , so you’re well on your way to successfully starting to market your startup business.
Find your target market, do your market research, set a budget, analyze competitors, then decide how you contact your potential customers, how you’ll talk to them, and how you’ll evaluate their response.
Even if you don’t succeed then don’t lose hope because failure is the key to success.