You must have heard the story of a successful startup company overnight. But in reality, most startups need years of hard work behind the scenes to grow and develop. The marketing methods of these startups have also contributed a lot to their success.
Entrepreneurship is an exciting thing. Whether it is a large or small business, your startup company needs a lot of courage, willpower, and a lot of marketing acumen to get started.
There are two basic facts when marketing a startup. First of all, no amount of marketing can make inferior products reach a large audience. Second, excellent products alone are not enough to achieve success.
You succeeded the first time. Now it’s time to do the second thing.
90% of startups fail For various reasons, not choosing a good marketing strategy is one of them. You must ensure that every effort, no matter how small, is carefully planned and executed.
In this article, you will learn How to market a startup And the necessary steps that need to be taken before starting. Consider these steps carefully, because the rapid development of your startup depends on the right strategy.
Before you promote your startup: define your ideal customer profile
Your marketing funds are very valuable. Investors want them to count. The last thing you want is to throw money into the sewer by spraying and praying. Before you market your startup, you need to understand who your audience is and how to talk to them.
This is where your ideal customer profile (ICP) comes in.
ICP is a detailed profile of your ideal customer. You can even say that it is the core of entrepreneurial marketing. If done well, your ICP will provide you with a lot of insights that you can use to adjust your marketing and lead generation strategies.
Knowing the unique characteristics of your ideal customers can make it easier to combine your traditions with Video marketing Activities and cut unnecessary costs.
What should be included in the ICP
The more you know your customers, the more you can personalize their buying experience-at the same time converting sales and creating loyalty. When you are ready to promote your startup, include as many of the following elements as possible in your ICP.
- Demographics: What is the average age and job role of your ideal client?
- entertainment: What movies, TV shows, podcasts, and events does this person like?
- motivation: What motivates her?
- Problems/pain points: Which pain points can your product or service solve her?
How to collect information about ideal customers
Two thirds of consumers Need a personalized experience. The more specific your customer profile, the better.
To get this kind of detailed information, you need to do a lot of errands. But it is worth it. In the world of entrepreneurial marketing, whoever knows their customers best will eventually get these customers.
Surveys, opinion polls, and interviews are all good ways to understand customers-who they are, what types of products and services they are interested in, and what their biggest pain points are.
Use the information from these interviews to create your ideal customer profile. But don’t stop there. Whenever you need to solve a usability problem or measure your interest in a new product, you can return to these interviews—or conduct a new interview.
Choose the right marketing channel for your startup
Marketing channels are like a bridge connecting startups and customers. The more bridges you build, the more customers you reach. In this digital world, you must define a set of multiple online channels to market your startup. Choosing multiple marketing channels will help your startup reach a wider audience.
There are many different ways to determine the best marketing channel for your startup. The following are some of the most mature strategies.
Just as different businesses have different ICPs, the channels for marketing to these ICPs are also different.
For example, if you are marketing a new course, Linkedin may be the best channel for marketing the course. Since the audience of the network is professional, they will be more interested in the course than the audience on Facebook.
On the other hand, if you want to market a photo editing app, Instagram or Facebook marketing Will be the best channel.
There are also marketing channels that are applicable to almost any startup company. If you use a reliable SEO strategy to increase traffic to your website, then written content marketing in the form of a blog is a valuable tool. The same is true for YouTube. Start a YouTube channel It is a valuable marketing strategy for almost all companies.
Based on budget
If your startup has budget constraints, there are some marketing channels that are cost-effective. Corporate social media can indeed be negotiated and can be very effective.According to recent Social media statistics, 67% of users use social media for customer support, and 33% of users prefer social media customer service platforms instead of phone calls or emails.
Email marketing is another budget-friendly marketing channel, and it will never let you down. According to some marketing experts, Email marketing has gained more than 40 times more customers Than social media marketing.
These are some budget-friendly marketing channels. On the other hand, if you don’t have a budget limit, you can use other advanced marketing channels. Facebook ads If you have no budget issues, PPC and PPC are the best ways to market your startup products.
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According to your resources
Focusing on each marketing channel is unnecessary and unrealistic. It is more important to focus on the right channels to maximize your business growth. How many channels you choose to follow is also highly dependent on your resources.
If you want to market your startup through email marketing, social media, or SEO, you must ask professionals to do it.
But how many marketing experts do you need for your startup?
How many people do you need?
As I mentioned before, you alone cannot put the right marketing strategy on the table. You need a passionate marketing team behind you. How many people your entrepreneurial marketing team needs depends on your budget, industry, and company.
Brief overview of roles
The marketing team plays a vital role. It requires people who are leading in their field, who can handle whatever you throw at them. The following are some of the important roles in your startup’s marketing team.
- Senior Marketing Executive
- Marketing strategist
- Market research expert
- Copywriting and digital “jack of all trades”
- Social media manager
- Business analyst
Build your team based on marketing channels
Your team structure will vary based on the marketing channels you use.
SEO team structure
SEO is a good marketing channel, and you need a qualified team to perform SEO for your startup. These are the important roles in the SEO team:
- SEO team leader
- Data Analyst
- SEO manager
Email marketing team structure
Email marketing is not a dead marketing strategy; it is the most effective marketing strategy for gaining potential customers. The team required for email marketing includes:
- Email marketing strategist
- The ultimate email designer
- Email production expert
- Quality Assurance Professional
Social media team structure
Social media platforms are the best channel for marketing startups. Here are some positions that need to be filled in order to build a great social media marketing team:
- Social media manager
- Social analyst
- Customer Support
- Community manager
How much should you invest in marketing?
At least half of the startup budget should be spent on marketing. This includes digital marketing and advertising, public relations, promotion, etc. If you are in the early stages of a business, you must pay close attention to marketing. However, how much you spend on these tasks depends on the marketing requirements of your particular business.
Use data to predict spending
Without market research and data, it is difficult to spend money wisely on marketing. If you don’t have the relevant data on hand, you cannot predict how much you should invest in marketing efforts or how successful these efforts will be.
If your annual sales are less than $5 million, the U.S. Small Business Administration recommends using 7% to 8% of your total revenue for marketing and advertising.
In addition, you need to plan your marketing budget based on research and data.
For example, if social media marketing is one of your main channels, research the running time of similar brands and their marketing activities. This will give you an idea of the ideal campaign time for your industry. And, because social media advertising costs depend on runtime, you can use this information to allocate funds for your own marketing.
Allocate funds for tools and employees
Using paid marketing tools for your startup is not a bad idea. You can use SMM, email marketing, and SEO tools. These marketing tools will promote your efforts and bring you potential potential customers. You can choose to subscribe according to your requirements.
- Biteable video production software: $19-49 per month
- Buffer: $15-99 per month
- Buzzsumo: US$99-499 per month
Email marketing tools:
- ActiveCampaign: $9-229 per month
- Moosend: Professional plan for $8 per month
- Hubspot: $45-3200 per month
- Lempod: USD 5 per pod per month (USD 2 per user per pod per month)
- Hootsuite: $17-611 per month
- Ahrefs: US$99-999 per month
- Zapier: $19-599 per month
With the help of SEO, you can rank your business on search engines without spending a penny.
CRM allows you to use data about customers to improve understanding and create a more personalized experience.
You can use a free CRM like Hubspot or a cheap paid CRM that costs about $12 per user per month. In addition, the expensive CRM system charges $300 per user per month.
Of course, you also need a team to handle all of this. The following are the average marketing prices based on the type of operation:
- U.S. local agencies: about $60,000 per month.
- Freelancers: The rates for freelance marketers range from $50 to $300 per hour.
- Overseas agents: Depending on the location, overseas marketing agents may cost you more than US$40,00 to more than US$40,000.
Entrepreneurship marketing is a complicated process. If you have a good idea for a product or service, but do not understand the market and customers, then your chances of success are limited.
Before you start your business, take the time to thoroughly understand your ideal customers, marketing channels, tools, and employees needed to achieve all of this. The more you plan, the more likely your startup will take off.
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About the author
Starting a successful startup requires a lot of marketing acumen. Maxim Bach From SPDLoad shared his best entrepreneurial marketing skills.He is the founder and CEO SPD load — Product development company for early-stage startups.