The greatest challenge in front of startups is that they are usually on a tight budget. Even if they are not, it is very important, that they should wisely spend each penny for a better result which they can see tomorrow. Therefore, startups shouldn't be focussing on big marketing spends, but their attention should be on strategies which will help them reach out to a wider audience with limited spends.
Let's take a look at some cost-effective marketing strategies which startups should consider.
1) Create a company website
Make a proper website, which is easy to navigate and can be opened on all the platforms, like a laptop, mobile phone or on a tablet. It should have all the information about what the company does.
2) Focus on Good Content & SEO
Once your website is up and running, the next step should be to populate the website with relevant content. Equal importance should also be given on SEO for your content to be easily found on search engines.
3) PR and news articles
If you are new in the market, it is very important to spread a word in the media about your arrival with the help of good PR and relevant news articles about your company.
4) Social Media Marketing
Use social media to reach out to your potential customers within a fixed budget. Don't bombard the audience with too much promotional content. It is very important to create a niche and credibility so that people can trust your brand. Startups can also try influencer marketing, it is a very popular marketing form involving endorsements and product placement from influencers, people and organisations who have an expert level of knowledge or social influence in their field.
6) Be Part of Relevant Forums & Groups
Join as many relevant business groups on social media. Try and look out for questions pertaining to your business. You might see someone asking a question that you can answer (with your expertise), and use it as an opportunity to promote your business.
The marketing strategy of a start-up in the initial few months should be to engage with the customers, and not just sell a product. Remember, you are a new brand and people are not aware of your existence, so it is very important to engage and create a relationship with your customers.