There is nothing to stimulate the imagination better than promoting a startup with a limited budget. If you want to grow your business and win the market exponentially, then you probably need some form of a digital marketing strategy to get people to know your product/service better. However, it is extremely difficult to achieve this goal if you have limited financial resources. Of course, nothing is impossible.
In the end, it always comes down to one thing – money. It is the primary resource for any form of marketing. Hence, be careful about how you spend your marketing budget, especially since you probably don’t have too much to spend. Moderate spending is the secret that every aspiring entrepreneur should learn. What can be done for this purpose? Let’s dive deep into the top 5 cost-effective marketing approaches that can make your startup fly.
Prioritizing Uniqueness Over Cost
If your product/service doesn’t solve any consumer problem, all the money in the world won’t help you reach success. The key to successful market penetration is the best product, which has nothing to do with marketing costs. Any good quality product or service can sell itself. So take your time and create a product that is worth buying. The more popular it is, the less you will spend on marketing it. The word of mouth will do the actual marketing.
Clearly Define Your Target Audience
Specific targeting is an effective way to get customers even if your budget is reduced. That is, it helps you make sales while spending as little money as possible on marketing. As you try to increase your visibility and build a customer base for your business, keep in mind that you don’t have to please everyone. Far from everyone will like what you have to offer, but one doesn’t need to. So when designing your product, focus on the specific group of people you should be concerned about. The more energy you and your team invest in this aspect, the more effective the return will be. Do not forget about digital marketing trends either.
Leverage Online Collaboration & Feedback
Any reviews (either positive or negative) you receive for your product are vital to growth. Positive feedback is a sign that you are doing everything right, and negative feedback is a sign that your product needs to be improved. One way to get people to talk about your business is to ask for online reviews. Reach out to well-read bloggers and ask them for a review article about your business or a specific product. It is less expensive than the usual ways to reach your target audience. Most people tend to trust key opinion leaders.
Use The Power Of Social Media
The best thing about social media is that it’s free and gives you access to a huge number of potential customers. This is where a strong customer base is located. Continuous and meaningful engagement with both current and potential customers is a powerful method of building a wider audience for your business and reaching startup success. First of all, identify those social networks hosting your suitable clients and regularly publish (at least three times a week) information about your industry, your business, and your products there. And when you get a clear idea of who reads, likes, and shares your content, you can start taking further, more proactive steps.
Take Care Of The Content You Produce
Position your startup as a subject matter expert. Once you define the platforms that your customers use, offer them your point of view on the current problems that the startup product solves. Highlight the most authoritative industry portals and sites where you can reach out to the niche experts and talk about your innovative product in the context of a startup presentation. This is where you can get recognition from other experts and get noticed. That is why, if you can tell the target audience something useful and new, then the content strategy will be a win-win approach.
You can post any type of content that is relevant to your business. These can be informative articles, infographics, problem-solution posts, how-to videos made with an online screen recorder. The only thing that is important in content production is to ensure that the content matches customer needs and addresses the problems they face. You can even host a webinar if it answers pressing questions of your existing/potential customers. It is video marketing and affiliate marketing that works best in startup positioning and promoting.
Platforms To Get The First Clients & Investors For The Startup
In addition to the business promotion on the web and social media platforms, you can also post information about your ideas on the specialized sites and thus make sure that they are noticed by the right people.
Betalist has been around for several years. Today, it became the starting point for some of the world’s largest startups before they even launched. These include Pinterest, About.me, IFITT, Nuji, Skillshare, and many more. This platform will help you get the word out about your startup within 48 hours and drive traffic to your site if you pay $ 129. There is also a free subscription method, but it can take quite a long time since you have to stand in a queue of more than 100 thousand people.
The site’s goal is a business intelligence capability that tracks thousands of high-tech companies around the world. For investors, this is an opportunity to collect information about technology companies that were previously only available on the top 500 list. Index.co will help you create a startup profile for free and tell the world about it!
According to marketing analytics, this is a great platform for promoting high-tech services and products. There is a voting system on Product Hunt that allows your product to rise in the list of new solutions. If you want to attract customers who are always looking for new products, then Product Hunt is a good starting point for you.
If you need money to raise funding for your startup, AngelList is a great platform to build a community to help you get your seed funding. In the startup world, it is one of the best directories for presenting startups. Now it is also becoming a social network – that is, you can contact investors and professionals within the system. It will help speed up the launch of a startup.
Nowadays, it is extremely difficult to promote a new product or service. The competition is getting tough and aggressive as never before. If you get stuck and have no idea of how to move further, follow the above tips and recommendations to develop a win-win digital marketing plan and reach the right people.