When I founded my first startup, marketing cost always came first. We always had something to say and used different marketing channels to further grow the business. When I sold, most of the equity in the brand was considered valuable, and if it wasn't, we would have had to close without securing the acquisition.
Since then, I've worked with many startups and discovered that marketing often takes a back seat when it comes to priorities. Founders often hang their heads and are busy vetting their best players, fixing bugs, and finding partners. Tell them that when marketing is done right, even before it begins, it's a great tool for starting new business and increasing efforts.
Create a marketing plan
A marketing plan is similar to a business plan. Defines marketing strategies, identifies target group and includes objectives, budget and activities. But marketing planning is not limited to launch preparations: a good marketing plan should include activities before, during and after the launch of a new product. Here are three ways businesses can use their marketing plans to get started.
1. Define the target group
Marketing plans help identify demographics such as age, location, income, and type of business to develop target audiences for businesses. For every business I start, I write a concise, actionable business plan. It forces me to think again and again about where my business is, how it's performing in today's competitive environment, and whether it's still targeting the right audience .
As you fill out the plan, think about who your audience is. To better define your core target, answer the following questions: Which products/services and solutions are the most important for your company? Who will benefit the most from your offer? What problems does your business help solve or what obstacles do you help overcome?
2. Raise awareness and interest the public
Marketing is about finding the right audience and delivering the right message at the right time. Merely. What is not easy is how and where to navigate. There are more marketing channels than ever, but each can help you reach your target audience. You decide what works best - maybe PR, search engine marketing, social media ads, or banner ads. Before launching a channel, it is important to identify your target audience. If your business sells kids' lunch boxes, your target audience may be parents, and social media, bloggers, and PR may be the best way to reach them. If you're a construction company trying to connect with developers, you can use industry publications or digital integrations to promote a unified marketing message across multiple destinations and digital platforms.
Once you've identified your audience, spend some time researching where your customers are consuming media (Google is a great tool for this). So make it your first shopping site.
3. Increase your chances of attracting investors
We can't all be on the shark tank . But that doesn't mean we can't offer it to investors.
Marketing plans help grow your business not only with your target audience, but also with strategies to get businesses in front of venture capitalists, strategic partners, and other audiences. With access to the media, financial media, and bloggers, the right plan can get the word out about a startup that investors are really looking for. For example, if your business is reaching scale, issue a press release and pitch it to investor-focused blogs like VentureBeat.
Bring your marketing plan to life
Once you've followed the steps to create a marketing plan , it's time to develop your message and get it out there. A press release may be the best way to do this. Banner ads are another option. Or you can create an ongoing series of content on your blog and promote it on social media.
There is no one-size-fits-all solution, as every company's marketing plan should focus on its marketing and business goals. But once you know how to broadcast, there are tools to help you bring your message to life and deliver it to your audience. For example, my company has used tools like Help A Reporter Out, Canva, and Buffer to help startups get their messages across.
Marketing can seem daunting, but it's an important part of any successful business and well worth the time and investment. I have worked for many companies, from start-ups to international corporations; I would never recommend one-way marketing because it is very important to create a plan to help achieve the goals and objectives of any business. The more a business engages in and puts effort into marketing, the more successful it will be.
