Useful Marketing Tips For A Startup Business
Most startup businesses do not have a separate marketing division, simply because they do not possess the enormous amount of funds required to approach large scale markets using sophisticated marketing strategies. What if it’s not that complicated? Besides, what’s the point of spending all that money on buildings, furniture and staff if nobody knows about your existence? The trick is to conduct the marketing operations at a level, parallel to the current level of your business and expand each other as your company climbs up the ladder. Here are a few effective marketing tools your startup business can adapt, and initiate with a relatively low budget.
Select a target niche
Regardless of the type of product or service you are offering to the market, select a refined group of customers which you can handle as your target market. Communicating about a product to a large audience can often be difficult and may give rise to confusion because most of the customers, having never heard of the product before , might get misled regarding it’s true purpose. Selecting a small but refined market segment and effectively communicating to them will ensure a loyal customer base. You can also provide them with customised gifts Singapore such as umbrellas, key tags and backpacks to reach out to the potential customers who may have an interest to get to know about the product.
Why just sell, when you can “engage”?
Today, because of social media, there are countless ways for an entrepreneur to engage and interact with his/her customers. Keep them updated at all times about new products, product modifications, opening of new branches etc. and be considerate about their feedback. This way, you can do your own marketing research pertaining to the customer satisfaction regarding the brand. You can also use you website or Facebook page to promote an event like a college sports meet of a school in the area or a blood donation campaign organized by the city church, to show your customers that you are more than just a profit oriented organization. Such activities will raise their appeal towards the product, and the organization as a whole.
Spread the brand
Most of the time, a startup business is financially incapable of advertising via television advertisements or large scale promotional campaigns. This isn’t really an issue as the world of marketing is full of opportunities for the big and the small alike. Your brand name, your slogan and the product packaging are the first few things that comes to your customers mind when thinking of the product. Use these as often as you can, in as many places as you can. Provide sponsorships for affordable events in the target area, distribute promotional gifts like caps, pens or mugs among the participants, and depict the company slogan significantly. This way, brand awareness among large social groups, can be established.
Quality over quantity
You may not be able to produce very large amount of finished goods or provide your customers with discounts, giveaways and other such offers. However, if your product, no matter how many units you have produced, is of the best quality and is related to the target audience, it will definitely develop a highly loyal group of customers who become billboards in the community whose word of mouth spreads the brand name to new market segments.