As a startup, you don’t have the money to waste on marketing efforts that produce few results. Startup growth strategies often focus on digital marketing because it is one of the most economical and potentially effective platforms to reach your potential clients. However, even digital marketing can fail if it’s not properly planned and executed. Here are a few startup tips that will help you create a successful and budget-friendly marketing plan.
Understand Your Target Market and Where They ‘Live’ Online
If you’ve launched a new business focused on helping CEOs of corporations and are marketing that business on Snapchat, you’re wasting your time. And in the startup game, time is money.
Identifying your target market is part of any startup development plan, but you need to take that to the next level and figure out where that target spends their time online. Is it Pinterest boards where your stay-at-home mom potential customers share recipes? Get active on Pinterest. Is it on LinkedIn where those aforementioned CEOs are publishing articles and interacting with colleagues? Then, LinkedIn should be the focus.
Choose Your Platforms Wisely
Do you think that spreading your message to as many social media platforms as possible to get the word out is your best bet? You’re wrong. As good new business consultants will tell you, it’s better to have a concentrated and consistent effort than to spread yourself too thin. If you only have the manpower to successfully manage one or two platforms, then stick to the ones your potential customers are most likely to use and forget the rest.
Follow the 80/20 Rule
Constantly tweeting pics of your new product or posting blogs about the value of your new service is the not the way to engage your potential customers. With social media, you need to focus on giving value 80% of the time and mix in some ‘asks’ the other 20%. Share helpful articles, how-to videos, or community events that your followers will be interested in. Then, when you hit them with a request to visit your site or give feedback on a new product, they’re much more likely to respond.
Focus on Interaction
Social media is meant to be social. If you’re not interacting with your followers, you’re missing the point. Answer questions that users pose and respond to comments (even if they’re negative). Retweet or share posts you find interesting. The more you can interact, the deeper your online relationships will become.
No matter how well you strategize, there’s always a chance that your online campaign may not reach your desired goals. Unless you’re utilizing analytics, you don’t know the whole story of who is engaging with your online marketing and why. Analytics tools can show you what types of posts and web pages get the most engagement, so you can capitalize on what you’re doing right and weed out ineffective efforts.
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