Marketing Steps To Kick Start Your Startup Business
Have you just started your own business recently or planning to start one? Well, let me tell you then that it is a pretty big deal and well as a complicated and challenging one. As a startup incubator in Kolkata, I must also say that having an exceptional idea, team and funds are pretty great but definitely not enough. Here is a piece of information, many unique startups have failed in the past despite being very well-funded. If you want your startup to welcome profits and success you need a perfect startup marketing to make it possible.
If you have already started initiating your startup plan without a concrete marketing strategy, your startup is definitely going to face some serious issues in the very near future. You have to understand that the marketing strategies you develop can make or break your business. Here are some of the marketing steps which every startup must follow –
Identify your target audience – This is undoubtedly the first and the most important marketing step you must take. Before you go ahead with anything else, you have to identify the customers who are looking for the products or services you are planning to sell. As a business strategy consultant, I have worked with several startups who did not feel the necessity to incorporate this step in their marketing process as they had the mindset that their products are just for everyone, for all the age groups. Identifying your target audience and their likes and preferences help to market your brand way better.
Competitor research – If your startup is not 100% unique then you are definitely not the only one offering that range of products or services, obviously there are a few who are selling just the same or roughly the same. They are your competition or competitor and needless to mention, you want to do better than them. When you analyze your competitor in a fine way, you get to know them better which helps you to get an edge over your competitors.
Conduct market research –Conducting market research is necessary in order to find out whether your target market actually wants what you are selling. Lack of market research may lead to a miserable failure and I am sure you don’t want that. You have to take the necessary steps in order to find out how your product or service is improving the lives of your target market. Figure out the difference between your product and what your competitor is offering and how you can make it better than them.
Don’t neglect digital marketing – Apart from being a startup incubator in Kolkata, I also co-founded an integrated digital marketing agency in Kolkata called PromotEdge in 2015. Digital marketing can be executed at a much lower cost than traditional marketing and with digital marketing, you can target your specified customer base. With the help, your effective social media campaigns, blogs and articles, e-mail marketing, SEO strategies, etc. your business can achieve a well-defined online presence which can do wonders for your business by generating an immense amount of leads.
To conclude, here are my best wishes to all the budding entrepreneurs out there who wants to make a difference and mark their name in the same list of Amazon, Microsoft, Facebook or any other such giant companies. Being a business strategy consultant, I want you to remember that every billion-dollar business which you see today was once a startup.