Digital Marketing for Startups, 2021
Are you having a unique Idea? Want to grow your business with limited funding? If these are the questions that is constantly running in your mind, then you are aspiring to be an Entrepreneur.
Starting a Business is Exhilarating and over-whelming at the same time. Each day, new startups are launched in the marketplace. These brands must compete with long-standing, well-funded and well-established companies and millions of marketing campaigns.
Startup marketing is a challenge like no other because of limited resources like time, money and talent. The only hope of being successful is in marketing better and more efficiently than well-established business competitors. Startups often have a limited budget, which means that they must make the most of their limited finances in reaching customers and generating revenue.
Over time people have moved from the traditional sense of Marketing to Internet Marketing. Today is the time to be alive, where people are connected digitally. Thanks to High-speed internet and modern smartphones. Millions of people are using Internet to simplify their day-to-day tasks. Many businesses are focusing on Digital Marketing to grow their business and customer base.
Is Digital Marketing Important?
Traditional marketing is done using cold calls, print and television advertisements, Banner hoardings, radio advertisements and so on… This requires a huge capital in thousands of dollars and a team to do all the groundwork.
Digital marketing can be done at a much lower cost than traditional marketing. Digital marketing allows startups to reach existing & new target audience to develop quality customer relationships at a fraction of the cost of traditional marketing. While Traditional marketing can cost you north of thousands of dollars, digital marketing advertisements can start from as low 250$ a month.
Benefits of Incorporating Digital Marketing to grow your Startup.
- Inexpensive Customer Research & Reach
A well-established company has years of customer research to support each product. Startups are new to know exactly what their customers want. Technology can be used to track, monitor and interpret customer buying behavior. Through technology, companies can figure out which products/services and demographics work best for their business. Rather than wasting millions of dollars on an ineffective television advertisement, the startup can directly target the consumer that they know is interested in the product. Digital Marketing also allows you to re-engage with existing customers to upsell your new offerings.
2. Engage Target Audience
Social Media campaigns, social media posts, emails and webinars all provide an opportunity for engaging the customer directly while providing customer satisfaction. Customers feel like they have a personal, one-on-one relationship with the company through Social Media Marketing. Once this relationship is developed, it takes a minimal amount of effort for the startup to retain their customers. Other than engaging with your potential customers, social media campaigns also help to drive traffic to the company’s website, generate leads and market new offerings. Customer testimonials on Social Media allows potential future customers to trust your startup’s offerings.
3. Use Metrics to Drive more Traffic & Measure Success
Online marketing is one of the most efficient ways of marketing to consumers. It offers real-time metrics for the startup to gauge the success of their campaign and drive traffic. Instead of trying to guess the number of newspaper readers who looked at a print ad, the startup knows immediately how many viewers are reading and interacting with your advertisements.
Startups can now customize their marketing approach to specific locations and demographics. These tools allow digital marketers to find out about the customer’s behavior and identify new opportunities. Digital marketing makes it easier to discover which offerings are useful and which products should be created to match the consumer’s needs.
4. Developing the Right Digital Marketing Approach
Developing the right digital marketing approach is crucial. Companies must tailor their approach strategically. Digital marketing allows all aspects of the advertisements, emails, and content to be integrated into each other. From creating a website to posting a webinar, these techniques must be planned out in advance for them to be effective.
Digital Marketing can also be tailored to a specific customer and the process can be automated based on the customer’s behavior and trigger custom personalized triggers to help them opt to your offerings.
Startups can use these key elements:
- Creating a user-friendly website that showcases their brand and is also compatible across multiple handheld devices.
- Video marketing that showcases their service/product features.
- PPC campaigns to generate leads.
- Social media marketing to engage & retain customers.
- Email marketing to drive more traffic and sales.
- Search engine optimization for long term benefits and generate quality organic leads.
- Influencer Marketing to speed up and influence the decision making of a potential customer.
5. Content Should Be a Major Part of Any Digital Marketing Strategy
Content marketing can provide a inexpensive or free way to market a business. Consumers want to find out information about products/services, and they will look for that information online. When the user visits the Company’s site, the business has an opportunity to turn their quest for knowledge into a sale. Once the content has been added to the website, it can continue to attract customers.
Content does not have to be in the form of an ordinary blog. Infographics, Videos, webinars, GIFs, memes and images can all be a part of the startup’s content strategy. If something can be liked or shared, it can become a part of the Company’s online content. Each share on social media delivers free advertising and new prospective customer for the startup.
Digital marketing helps businesses in the following aspects.
- Develop a brand awareness!
- Boost their visibility.
- Improve customer engagement!
- Influence purchasing decisions
- Reduce their marketing budget.
- Generate leads.
- Increase Sales
- Increase online conversion rates!
- Track their return on investment.
In a survey, approximately 17–20 percent of startups failed within 5 years because they did not market correctly and not because of lack of funds & ideas. Digital marketing must be done as soon as the startup is formed. From the beginning, digital marketing needs to be a core part of the startup’s business strategy. Startup marketing is a completely different science. You need to choose and combine the right marketing channels and come up with a robust strategy for the business to be successful, reach out to new customers, develop leads and convert leads into sales and generate revenue.