Develop a winning start up marketing strategy

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Date: 30 June 2022

Celebrating a successful marketing campaign

So, you have finally decided to start your business venture. That’s awesome! You've joined an elite group of people willing to take the risk.

But just deciding to start a business is no guarantee of success. You need a start-up marketing plan. This brings us to the question - what is a marketing plan and what should it include?

A marketing plan is a strategy for raising awareness of your business and products, be that via social media, advertising, email marketing or PR. This strategy becomes the foundation of your approach which will target your audience with the aim of selling your products and services.

Start up marketing: a plan for growth

Start up marketing doesn’t have to cost the earth. All you need is just the right mix of ingredients:

  • money
  • time
  • effort
  • creativity

Everybody loves a good start up story. Microsoft, Facebook, and YouTube are started out as small businesses that grew into multi-billion dollar companies. Although they are from different industries, they do have one thing in common. They entered the right niche at the right time.

If you want to kickstart your company, it needs to have a strategic marketing plan to avoid becoming lost among the thousands of businesses that launch every day.

Here are the basic start up marketing considerations that market leaders recommend.

Start with marketing goals

There is no use in creating a marketing team or campaign if you do not have clear goals to achieve. Building a business is a journey; you wouldn't board a plane without knowing where you want to go and what you want to achieve.

To create marketing goals, you must start by asking these questions.

  • What do you want to achieve with your marketing campaigns?
  • Where do you want your business to be in the next one, three, five, and ten years?

Having an end goal gives you something to achieve. Now you know where you're headed, you can plan the steps you will take to reach your destination.

Move forward with situational analysis

Once you have set your goals, you must look around to analyse the market and the resources you need to start your journey. Market research for start ups is the first step. This gives you an idea about the market and where you fit within it.

In addition, you need to know how much capital you need to start the venture and possible sources of funding. This initial funding could come from personal savings, loans from family, friends or corporate lenders, angel investment, or via ICOs (initial coin offerings) from decentralized platforms like immediate edge.

Decide on your strategy

A start up marketing plan might have a range of strategies that you might employ. Choosing the right strategy and message will determine the success of your business. This is why investors, are also interested in both your business plan and marketing plan. So, to convince investors to back your business, you need to develop the right marketing strategy.

With all the competition these days, simply adopting viral marketing and premier branding is not enough anymore. Instead, you need a solid marketing plan that will offer a high return on investment.

Here are a few suggestions:

  • Leverage the reach of social media marketing.
  • Create a professional-looking website.
  • Make connections with communities, partners, and referrals.
  • Implement local SEO.
  • Use content marketing to build your authority.

Implement your strategy

What's the use of having a great marketing strategy if you fail to implement it? Once you have formulated your strategy, implement it by:

  • Setting the right expectations.
  • Building a clear timeline.
  • Monitoring progress.
  • Communicating the results.
  • Celebrating success.

Be ready to make changes!

Finally, don’t be scared about making any necessary changes to your marketing plan or the direction of travel for your business to boost your success. History has witnessed many businesses that have changed direction to meet changing market expectations. You simply need to adapt to the market's needs and the rest will follow.

Copyright 2022. Featured post made possible by Mashum Mollah.

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