Tuesday, February 7, 2023

An Elementary Guide to Startup Marketing.

One of the fundamentals of landing a successful startup is marketing it well enough to reach its supposed audience. Statistics indicate that around 14% of startups fail due to poor marketing. Therefore, early-stage startups need to create a strong sales pitch for promoting themselves in the market even before their product is ready. Here’s a listicle of ideas for marketing a startup at its initial phase:

1. Researching the Target Audience Thoroughly:

Identifying potential customers isn’t as easy as it seems, but the biggest mistake is assuming that everyone is a target. Identifying a target audience helps in creating buyers’ persona, which further makes data collection and prediction easier for marketing. In addition, when a startup has its target audience set, it’s easier to tailor the product/service to their requirements and also run a PR or advertising campaign focusing on their interests.

2. Establishing Uniqueness and Securing Position In Market:

Most startups fail because they cannot differentiate themselves from a pool of similar ventures. In order to establish uniqueness and setting across a clear message regarding it, build a narrative about why it’s not the same as others. Once the product stands out, it’s easier to find a place for it in the market amongst the similar competition. The uniqueness should aim at providing something new or solving a problem with the pre-existing models.

3. Attending Events and Networking:

Attending events that deal with the business propositions similar to the product/service being launched helps identify a pool of interested investors and consumers, thus, amplifying the network and support. They further provide a platform to table one’s product/service and get early reviews from experts and interested niche audiences.

4. Digital Marketing:

Digital marketing is an uncompromising tactic that involves influencer marketing, blogging creating power users in niches like subreddits or Facebook groups. Use this channel before launching the product to create a buzz around it and after the launch as well to amplify its user base through promotion.

5. Focusing on Customer Experience and Feedback:

Focusing on the complaints and feedback of the customer does not only help in refining the product/service; it also creates a healthy engagement space. This further contributes to a happy customer base. In addition, this initial success with the customers helps establish a good name for the future of the brand.

6. Running a Referral Program:

Running a referral campaign is a highly effective mechanism because around 92 % of the people trust word-of-mouth or recommendations from family and friends over other types of branding and advertising. Therefore, newly launched startups should launch referral programs from platforms and websites that support the same.

7. Building Reputation and Trust:

Once the product has been launched, it’s essential to maintain its integrity in the marketplace and make it popular with the customers. Building a reputation and a brand name does not happen overnight, but a new startup needs to invest in it in the early stages itself. This results in a supportive customer base for the upcoming years of the startup.

The key to good marketing is ensuring that there is a need for the product/ service in the market and then selling it to the target audience by exploiting most means necessary in reaching out to them. The better a startup markets itself, the stronger it performs.

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