Marketing for Startups
Startups need to focus on marketing more than established organisations in order to get rolling and create a market presence in shortest time possible. It’s imperative for new setups to follow a marketing strategy or a systematic approach to drive results from their marketing efforts.
Marketing is not just sending out a mail blast or social copies on social media channels. Marketing needs a holistic approach including creating a brand identify and voice, communicating with prospects based on the stage of their buying life cycle. There has to be two-way communication rather than adopting a spray and pray approach.
Why Startups cannot neglect marketing:
Most of the startups originate to provide a solution for filling the gaps in the existing market. These businesses have high growth potential, they are innovative and need to grow exponentially in lesser time. The product or service they offer is niche and involves a lot of hard work for success. Before even expecting to generating potential leads, the process involves creating awareness in cases where the whole idea of the existence of a startup is unique.
Challenges of Startups:
- Limited or no awareness
- Neglecting marketing
- Product or idea need to be established
- Limited time to succeed otherwise risk of failure
- Higher chances of failure
- Might demotivate if no traction
- Competition from similar existing product or service
How can startups get off the ground quickly?
- Do a proper market segmentation
- Select and start targeting small
- Maximize the use of social media and online platforms
- Allocate budget for online marketing
- Communicate in easily understandable language
- Review and change strategy
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