4 Cost Effective Marketing Strategies Every Startup Should Be Aware Of
For the success of any company there needs to be a dedicated and effective marketing strategy. With the transition from print only and Television only marketing channels, the advent of Internet-of-Things (IoT) has opened up varied avenues for marketing and promotion activities. Most emerging startups are growing the services sector and have much in relation to the online segment. As such, it becomes important to have a social media marketing spend to size up your presence and reach.
Here are a few cost effective marketing strategies that startups can immediately concentrate:
1. Building a partnership
Forging a partnership with other businesses can help you grow your business. Customer loyalty is something that is very difficult to achieve in the initial days when you are building up your brand or company. Building up a partnership with established businesses in your field can help you earn loyal customers that they have. People are extremely receptive about recommendations that they receive from businesses that they are loyal to and have trust in. You can use this to your advantage by developing a long standing and healthy relationship with other businesses.
Tie ups can also help your company to scale up. A well-known startup Uber, a cab-hailing platform, has been partnering with many food outlets, merchandise stores and dining restaurants to offer discounted rides to and from the location of these outlets. This helps both the partners in taking advantage of each other’s customers.
2. Making way for reviews
While direct customer interaction does help a company in reaching out to the potential customers, it does not do much in converting them to your customers. What it lacks is the unbiased and credibility that a person needs to earn trust. Reviews are one way in which this issue can be addressed. We are all aware of bloggers and writers providing reviews of popular destinations and products. Your company must try to provide a platform where the customers and clients can post their reviews. This will also help you in getting feedback and addressing the issues that must be arising.
3. Start writing blogs
Offering tips and tricks on things that are related to your business through blogs can also prove to be a great marketing strategy. For example, if you are a company that manufactures hair dryers, you can post blogs on easy to do tips to get the right kind of hair. In between the blogs you could mention about your products as tools to achieve the mentioned styles. This is really easy to do as you can find content or hire content writers online to provide you with blogs on the topics of your requirement.
4. Start networking
Networking is the most popular cost effective marketing strategy. Meeting people at business forums and telling them about your products would hardly cost you anything but may land you up with helpful backers. Social media platforms like LinkedIn are dedicated towards networking. You can connect with anyone whom you may have heard or have met. You can then start promoting your startup and build your brand through it. Making a group page or joining a local business group can help you boost the reach of your company.
The last thing about networking is that it has to be professional. You should talk about your company to the people whom you meet. Be it a social gathering or a football match, carry your business card around and have a talk with them about the work that your company does. This will help you in increasing your customers.
These methods are easy to start with to build up on your startup and scaling it up in the most cost effective way.
Founder & Editor — Startup Simba
The article was originally published on www.startupsimba.com.
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