Are you thinking of starting up a new business but have no idea how to begin? You might be searching and browsing many times to look for some ideas that can help you move forward with your dream business. In this article, we look at Growing Steadily: Innovative Marketing Tactics for Your Start-up Business.
It is truly difficult to understand most of the articles or blogs that you have read about starting up a business, so you wish to find something that will explain it plainly and practically.
Many people who start their businesses as entrepreneurs don’t know where to begin. However, you should not feel discouraged at all.
In this article, you will learn about the innovative marketing tactics for your start-up business so that you would also be able to make your new business into a great success story.
Table of Contents
Conduct Market Research
One of the most fundamental marketing tactics for a start-up business is to conduct market research. It is the type of research where you need to gather data from your target customers of what kind of product they are looking for and what they think about your business.
Most market research includes SWOT analysis to identify the strengths and weaknesses of your business as well as the opportunities and threats that you might have once you operate.
Duly armed with this knowledge, you will be able to figure out the exact niche for your business. In fact, this way you will be able to create your very own USP.
Your unique selling proposition (USP) will give your company the edge to power itself over and above your competition. This is only possible with the help of market research.
Apart from that, a well-grounded research survey will also help you to figure out your SCA. The sustainable competitive advantage of your start-up will effectively enable it to remain above and above the competition.
As long as you have an SCA over other players in the market, you will remain the first choice for the customers in your target segment
Moreover, market research can help you determine the target markets so you will be able to do segmentation as well as positioning for more effective marketing management.
Through this, you can also analyse the competition in the specific market that is your aim.
Develop Your Branding
The next innovative tactic that you need to apply is to create and develop your branding. A strong brand will let your customers have an idea and a positive impression of your business.
It builds the image of your company and is the best way to easily communicate to your potential customers what your business is all about. The recall is very important because it will be the most remarkable thing that could sink into the minds of the customers.
The most prominent way of showing your brand is through logos and themes. However, it is not only a visual brand that is vital to successful marketing but it also gives a message to the public of how your business works and what it can offer.
Your brand is the sum total of all your marketing activities. If done right, your brand will create a sense of value in the mind of the customer who will prefer it to all other brands.
He will see it and instantly gravitate towards it. This kind of brand loyalty means success for any business.
Eye View is a Buy View
If your brand is in front of the customer and he instantly recalls everything it stands for, he will make the purchase and ignore all the other competing brands in front of him. Such recall is only possible through continuous repetition of the brand’s message.
If the brand is present at or near the POS (point of sale) counter and at eye level, the potential customer will recall everything he has seen and heard about the brand and complete the purchase decision
Maximize Online Marketing and Advertising Activities
Another essential strategy to market your new business is to maximize the benefits of the internet through online marketing and advertising. Nowadays, it is a must to increase your business’s digital presence if you want to get higher sales and attract customers.
The easiest and most efficient way of advertising your products or services is through the use of social media platforms, content marketing through blogs and websites, and some are using display advertising.
It is advisable to utilize the advantages of prominent social media platforms such as Facebook, Instagram, Twitter, Linked In, etc. It is efficient and effective because most people around the world are present in the online world.
Never Underestimate the Seminal Importance of Social Media Reviews
A very important aspect of social media is that it is not very expensive and extremely effective. A potential customer is far more likely to trust the review of a fellow peer than all the advertising claims of the company selling the product.
They are, after all, fellow users without any interest in the company or its profits. Therefore, the end consumer will take other customers’ experiences as the truth and make a purchase decision accordingly.
Here’s a very strong and responsive social media campaign that will be very effective at conveying your brand’s message. Best of all, the cost of maintaining a vibrant and active social media profile is a mere fraction of a full-on marketing and advertising campaign.
However, it is important to understand that social media is a double-edged sword. If anyone is unsatisfied, they will write a review of your product on your page for everyone to see.
In such a scenario, you must never delete the offensive complaint, but try to resolve it as soon as possible, to the full satisfaction of the customer.
This is because deleting it is extremely counterproductive. Anyone can save screenshots of the complaint and forward them to the rest of your target market. This is, after all, an age of smartphones and easy information.
However, listening to the customer and taking care of the complaint will show your clientele that you stand behind your products and are willing to do whatever it takes to take care of them.
Partner with Organizations that Provide the Best Marketing Tools and Plans
It is also recommended for a start-up business to seek advice and be guided by those who have the best tools and plans when it comes to business marketing.
One good example is when you are doing cannabis business. It is very difficult to master the marketing strategies of this kind of industry so it is important to partner with those who have good knowledge about the cannabis business.
For instance, if you are going to sell your cannabis license, it is advisable to seek the help of various consulting firms that can help you sell your cannabis license at an optimal price. This way you can use the money to advertise your business.
After all, experts are experts for a reason. They have a sound knowledge of the business and the industry at a holistic level. This is why they utilize that information for newcomers by sharing their hard-earned expertise at a small cost.
By listening to their advice you too can learn the ropes, and create a winning start-up that will be able to accumulate profits as soon as possible.
Give Rewards to Loyal Customers
Finally, it is a good marketing way that you give rewards to your loyal customers. Maintaining a sound customer relationship and engagement is very important in continuously marketing your business.
Some of the rewards or incentives that you can give to your faithful customers are offering freebies and additional benefits for those who consistently subscribe to and buy your products.
In this way, you can express your appreciation to them and at the same time make them feel that they are in good hands. It will also produce more positive feedback about your services.
Turn your Most Valuable Customers into Brand Ambassadors
You can create loyalty cards or a gift voucher scheme exclusively meant for people who continue to buy your products. Not only will it make them feel appreciated, but at the same time, they will also become your brand ambassadors and broadcast your brand message to their friends and peers.
Such people are likely to act as influencers for potential customers who are not sure about your product and have yet to make a purchase decision.
In summary, to market your start-up business effectively and successfully, you need to apply the above innovative tactics in marketing your new business.
First is to conduct market research, then develop your branding, maximize online marketing and advertising, partner with organizations that provide the best marketing tools and plans, and lastly, give rewards to loyal customers so that they become your brand ambassadors.
You have to remember that none of the above steps should be undertaken in isolation, but rather they work together to create the perfect winning combination for your business. So go ahead and take the plunge with your new start-up!
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*TIP – We recommend Freelance Level Up Kit by Kady Sandel, It’s for graphic designers who have the foundations of their business but want to grow, raise their prices, and sign more (and better!) clients.
Amanda Kruse is a Management and Business Advisor for Europe. She often shares cannabis financing advice in Argonaut. Kruse is passionate about driving better customer experiences and stronger business results.