Business accelerators and
incubators have become popular options for startups. For one, having a
dedicated, loyal backing (i.e. group of advisors) helps these small companies tackle any
developmental crises like financial planning and forecasting or even marketing.
Even with an idea in place, it's often a challenge for startups to get their infrastructure up and running.
Operational consultants help businesses get started by providing expert advice
on how to operate backend operations and take care of any legalities and
licensing. Marketing, however, is a more complex procedure.
For starters, much of today’s
marketing includes online campaigning. From social media and blogging to Web
development and advertising, there are a lot of factors to consider. All of
these elements add up to create a digital brand that can make or break startups
that, more than existing businesses, have the unique opportunity to generate a
lot of fan-based hype and promotion.
The first step for
startups is to determine the direction in which they want to go. This direction
is usually outlined in a company’s business plan, an often-misunderstood
template of what a business’ objectives are. Below are a few key elements of a
business plan that have the potential to drive a startup’s fledgling marketing
campaigns in the right direction:
§ Business
Basics: The opening sections of a
business plan include soft goals such as mission statements and company values.
These are important to consider because they later become buzzwords for
marketing tactics.
§ Market
Analysis: In this section, business
planners take a look at local competition and the industry they are entering as
a whole. Is the idea even feasible? What sets it apart from other similar
companies? Without broad market analysis, it becomes a challenge for startups
to initiate successful marketing strategies.
§ Product and
Service Overview: Based on the
startup’s purpose and concept, this section includes an in-depth write up on
what the company plans to deliver or manufacture. It is important for
entrepreneurs to consider questions like, “Is this product purchased only
once?” “Is there only one target audience that will consider this service?”
Even with products in the prototype stage, it is important for startup owners
to imagine what their company’s sellable assets will look like in the future.
§ Marketing Plan: This section pulls together the previous three topics.
Here, entrepreneurs will start outlining their brand and strategize ways to
market it. It is often advised that companies begin by infiltrating one
particular market and working outward from there.
The business plan also
includes a section on finances and operations. Planners will look into the
total costs of producing products and operating a business and figure out how
much they have to sell (and at what price) to stay competitive and successful. Importantly, business
plans are proactive ways for entrepreneurs to find investors and procure bank
loans.
Web Branding and Developing Online Presence
What is online is what
people see. Most companies understand the importance of having online assets
like websites and social media accounts, though startups are in a much better
position to create long-lasting campaigns that actively attract new and existing
consumers. Here is a rundown on different marketing methods entrepreneurs
should consider. They are all easy to manage, efficient, affordable, and show
results if handled properly.
Websites
Domains tie everything
together. When it comes to websites, the most important thing to do as a
startup is to avoid the things that do not work. Having huge blocks of text,
abusing keywords, inserting videos and media on every page, and creating an
online mess is unattractive and a waste of resources.
Instead, startups should
focus on creating a site that introduces people to their brand. Short videos
are a good start. Investing in simple, sleek designs, easy navigation, and
other features are a must, too. Most importantly, Web marketers need to
constantly update their sites to meet visitor demand and to inform rather than
promote.
Social Media
Like with websites, it is
easy to overdo social media. Tap into the platforms that make sense for the
idea. Is it a tech company? Consider using Google+, Facebook, and Twitter to
keep followers interested by posting updates and other industry insights. For
product and craft-based companies, use other sites like Pinterest to promote
creativity. Because social media works both ways, entrepreneurs should pay
attention to the success of their posts in order to tailor future ones that
pick up more shares and likes.
Blogging
Blogging, of course, is
one of the easiest ways to stay in touch with consumers. Startups have a lot to
say; why not tie it all into a blog? Keep them informative and leave out the
promotional content.
