The Digital Marketing Guide for Startups

How many start-ups launched in last few years? How many failed and how many succeeded?

Some studies suggest that almost 50% failed within five year of launch. Bad planning & execution is one of the main factors.

Some failed because they don’t see significant growth. Marketing is one of the biggest reason which impacts growth.

You might have the best product or service in the world, but if nobody knows about it, then your start-up can’t succeed. If you’re not a marketing expert, you need to become one.

In this Online world, Digital marketing techniques can play a vital role in achieving you new heights. It uses all digital channels available to promote a product or service or build a brand.

Digital Marketing has succeeded traditional marketing and there has been a change from newspaper ads to Facebook and Pay per Click ads. Please read here to know more about digital marketing advantages over traditional marketing..

Digital Marketing Guide is a document or plan that captures the objectives and strategies of a company in the digital environment. Developing a clear plan helps start-ups in communicating their unique selling point (USP). Let us discuss some points that will help Start-ups to gain some more clarity on what to achieve? And How to achieve?

Inspect and figure out your market: Entrepreneurs start off thinking that the whole world needs their products or services. No matter, how great your product or service is but targeting everybody with your strategy is unwise. You’ll only end up wasting plenty of time and money.

To figure out your market, you need to ask yourself the following questions:

  • How is your product/service different?
  • Who are you selling to (Male/Female/Specific Demographic)?
  • Why would people purchase your product or opt for your services?
  • Do they have enough funds to buy your product?
  • Is there a strong competition in your niche?

When you answer these questions, you need to start researching your target market and find out as much as possible about your potential customers.

If we focus on digital marketing specifically, web and social media channels can be considered to analyse and understand the online presence of your startup.

  • Web audit: It will cover aspects such as Search Engine Optimisation (SEO), usability, design and web architecture. Some useful tools for this analysis: Woorank, Metricspot, SEMrush, SEOmoz, Google Analytics etc.
  • Social media audit: It will cover all the social media channels such as Facebook, Twitter, Instagram, LinkedIn etc.

Choosing Keywords: Once you have decided your target market, you can start with making a keyword list. The list will be primarily useful for blogging, social media, SEO and content management.

To figure out about relevant keywords, you can prepare a list of words or phrases that are related to your brand and ask yourself: What would someone type on Google to find your website?

Begin with a short list of 4 or 5 keywords that will broadly cover your startup’s offer to potential clients. Later on, you can expand the list with more specific keywords (secondary keywords)

Use free keywords search tools such as Google Keyword Planner, Wordtracker and KeywordEye.

Defining your Success: Every start up has a different definition for success. Maybe success is 1000 new sign ups per month for Startup A while Startup B thinks success is $25,000 revenue per month. Whatever your idea of success may be, determine it during the initial phase and define it rigidly. Make a note of it and send it to the entire team. Make sure that your team and everyone you are working with knows your definition of success and are ready to work towards it.

Be sure to stay steady. It doesn’t matter if you are defining success by revenue, signups, profit or anything else. What does matter is the fact that it’s tied to real growth and that it’s measured the same way every month. For example, don’t define success as 1,000 new signups during first month and $25,000 revenue during the second month. Choose one definition and stick to it.

Determine your Success: As we have defined our success, we also need to measure our success. You can set up metrics to match goals. Tracking your marketing strategy enables you to check that whether you are on the right track or not and if not, how to make the necessary adjustments.

Following are some of the key metrics:

  • Customer Acquisition Cost (CAC)
  • Conversion Rate
  • Retention Rate
  • Return on Advertisement Cost
  • Customer Lifetime Revenue
  • Gross Margins

Setting up a budget: How much funds you can allocate to your startup marketing strategy? Set up a budget in the initial stage and accept that limitation. Carefully plan how you will spend your budget.

You can start with building a good user-friendly website because that is what your clients will see first and that is the place where conversions happen. Add a blog section where you will be able to post high quality content and drive potential clients to the website.

Learn some of the best Digital Marketing Strategies for Startups:

Email Marketing:

Email marketing for startups is both an inexpensive and a valuable step that you can take for your business.

5 lessons to live by for running a successful email marketing campaign:

  • Email list
  • Make sure only people who want the email are getting it
  • Make it look good
  • Use engaging subject lines
  • Listen to feedback

Social Media Marketing:

Social Media has become a powerful marketing tool these days as it offers a lot of benefits:

  • It increases traffic and exposure
  • Develops loyal customers
  • Improves search ranking and generate leads
  • Increases sales

Google AdWords (Pay-Per-Click-Marketing):

It is a method of using search engine advertising to bring visitors to your website. Let us discuss about the benefits of using pay-per-click advertising:

  • Customers can be reached at right time with right ad
  • High ROI (Return on Investment) as you will have to pay only when a potential client clicks on the advertisement
  • Control over how much you want to spend
  • Immediate results
  • Data and insights to help other marketing strategies

Search Engine Optimization (SEO):

SEO will improve ranking of your website and place your website on the top of the search engine result page.

Influencer Marketing:

Influencer marketing is a highly effective tool for startups to grow their brands. It’s inexpensive as compared to traditional marketing channels.

Content Marketing:

Content marketing has become a must for businesses these days, whether you are working B2B or B2C domain.

Affiliate Marketing:

Affiliate marketing refers to a setup in which your business gets referrals from third party websites or businesses. It widens your marketing campaign’s reach and connect with the right audience to buy your product or service.

Building a successful startup is a tough battle of fierce competition in the business world of today. However, by selecting the right digital marketing strategies, you can emerge from the crowd. The strategies that we have discussed are proven to yield a high Return on Investment.

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