100 million startups across the world are created every year, which means competition is fierce.
In such a dog-eat-dog world, how are you supposed to stand out against the other companies? And how can you do it with a limited marketing budget?
To help you out, here are 10 essential business marketing strategies to ensure your startup succeeds.
1. Look into Search Engine Optimization (SEO)
SEO is a way to grow your traffic organically, meaning you won't have to pay for the traffic, at least not directly. SEO is the practice of choosing popular keywords to use in your content so it'll make your website rank higher on search engines like Google.
It's a key part of digital marketing since a lot of it revolves around what you have to say in your content. While you can create a website and blog page that ranks well without SEO, this marketing method can make your traffic skyrocket if done right.
2. Perform Split Tests
If you feel like you have some great ideas but aren't sure how they'd resonate with your customers and prospects, always perform split tests, or A/B testing. This means serving a certain amount of people the "A" site, and a certain amount of people the "B" site.
You can then compare the conversion rates of the two and see which one does better. Once you figure that out, you can make the better performing website the main one you serve to all users.
3. Utilize Social Media
Social media may have once been a platform for entertainment and communication between users, but today, it's a powerful tool for companies. It's a free way for you to advertise your brand and engage with your audiences to truly make connections.
Social media is also a good way to link your other types of digital marketing together, such as your company blog. To get a better grasp on social media marketing, you can take a course such as Monarch's social media course.
4. Run a Company Blog
Good content is essential if you want your startup to succeed. When you don't have much of a budget, running a blog is a great way to get people coming to your website. Plus, it positions you as a thought leader that offers useful information to the general public.
Blog writing is a type of inbound marketing, which is a cost-effective way of attracting customers who aren't ready to buy yet, but will be. You won't have to use much of your marketing budget since all you need is a content writer on staff to handle the blog. Upskilled's blog is a great example of a quality company blog.
5. Work with Influencers
Influencers are people who have already built a large following of people, which means they have the bulk you're looking for, regarding marketing. When you work with an influencer, you get access to their followers, meaning you won't have to find those people yourself.
While you can pay an influencer to make sponsored posts, you can also compensate their advertising with free merchandise or services. Usually, you can negotiate how they're compensated for their influencer marketing.
6. Do Your Research on Your Target Audiences
Simply casting a net and hoping the best for marketing won't be a wise utilization of your marketing budget. While you may capture some leads, many of them won't qualify as true leads, which means you've wasted your marketing money.
If you research your target audience first and marketing on the proper channels and touchpoints, you'll bring in better quality leads and make better use of your marketing spend.
7. Establish Your Unique Selling Points (USPs)
When you do any type of marketing, you need to establish your unique selling points (USPs). These should be things that will cause a potential customer to choose you over your competition.
For example, you can claim to be the quickest courier service in the local area, or promise that your products are made with the best materials available. Once you've determined what your USPs, make sure they're prominent in your web copy.
8. Don't Copy Your Competition
While looking at brands in the big leagues and taking a page from their book is an excellent idea, completely copying their style and content won't do you any good.
You can model your marketing after big brands since their techniques are proven to work, but you want to sell yourself as a unique company with your own voice.
9. Consider Working with a PR Company
A PR company can help your startup grow quickly and find quality prospects in a short amount of time. They'll have effective press kits and journalist connections so you can get your brand name out there.
If you don't have the budget for a PR company, you can still handle PR issues on your own. Just make sure you have a well put-together press kit and that you're always proactive in reaching out to journalists.
10. Try Email Marketing
This one takes a little more effort, but the payoff is great. The ROI can be 122% or more, which makes it a type of marketing worth investing in.
Email marketing works best with a lengthy prospect email list, so you might not be able to use this marketing strategy in the beginning stages of your startup. However, once you've gathered a decent email list, you can start sending out automated and scheduled emails to progress them in their buying cycles.
Use These Business Marketing Strategies
While creating your own startup can be daunting, it's a very rewarding experience. It may be hard to get the word out about your products and services at first, but when you use these business marketing strategies, your startup is sure to flourish and grow quickly.
Need more tips on running a startup? Then read this article on 3 areas where you need to invest in.