In Q3 of 2023, Oberlo found that 33.3 million small businesses started, almost 99.9% of all US businesses. When you begin, copying big companies’ marketing might be tempting. But guess what? Extravagant marketing can be expensive and not very practical. These large firms spend a huge chunk of their budgets on YouTube ads, billboards, or hiring influencers. Plus, the way they market their products now might differ from their startup marketing strategy in the beginning.
Did you know about Steve Jobs and Steve Wozniak? They didn’t advertise Apple with flashy ads. Instead, they showed their first computer to a group of tech enthusiasts at a club. And Dropbox? They became successful by offering free space to people who invited their friends to join. Even Slack, the messaging app that everyone uses, got people to try it out at their workplaces by getting their friends to use it.
So, what’s the lesson here? You have to be resourceful! Think creatively and find ways to promote your product without spending too much money. Try things like getting media coverage, partnering with other companies, or using crowdfunding. These strategies can help your startup grow quickly and start making money.
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Startup Marketing Strategy
Since startups are new and have little to no recognition, startup marketing strategies for startups majorly focus on bringing business and attracting more customers. Having limited resources, startups need to be creative with their marketing. It revolves around letting the target customers know how their product or service can add value.
Example: Back in 2004, when Google was a lesser-known company, it used a startup marketing strategy to let potential users know about the newly launched Gmail. Due to a strict budget, they couldn’t go for ads so Google took a different route. So in its initial days, Gmail only got released to a small group of people, and each person was given a limited number of invitations to share with friends. This made people feel special and got them talking about Gmail. This approach not only created excitement for Gmail but also encouraged people to tell others about it, leading to fast growth.
Traditional Marketing Strategies
Many renowned and well-versed companies use traditional marketing strategies to promote their products or introduce their services. As they have a dedicated marketing budget, they use techniques like TV ads, ads in magazines or newspapers, and billboards.
Example: Who doesn’t know Unilever and its enormous range of products? Their marketing team uses traditional ways to advertise for brands like Dove. In the early 2000s, Dove introduced the “Real Beauty” campaign, representing real women of different shapes, sizes, and backgrounds in advertisements and posters. By using these familiar channels, Unilever reached many people and showed Dove’s message of accepting yourself.
Startup Marketing Strategy VS Traditional Marketing Strategy
Also Read: What Is Startup Marketing? How To Develop Startup Marketing Strategy?
7 Impactful Concepts and Techniques that Work in Startup Marketing Strategy
As startup marketing is evolving, it’s really important to use unique and influential strategies to get noticed. These methods help startups connect with their audience, get people excited, and grow fast. Let’s look at 7 effective ways to level up your startup marketing:
Start a Referral Program
If you want to grow your startup quickly, consider starting a referral program. Although it seems simple, it can emerge as your most powerful weapon if done right. Nielsen research shows that 88% of people rely on personal recommendations more than any other marketing form. These referral programs can help create a buzz about your brand and let people know about the feedback for your products. To make your referral program work, make it easy for customers to share news about your startup with their friends.
Target the Influencers
Nowadays, with the popularity of social media getting influencers on your team can have a major impact. Whether you pick Michael Jordan for your athletic wear store or make Emma Watson an ambassador for your skincare range, a strong influence can affect people’s decisions. These influencers have a huge number of followers who rely on their opinions and trust their choices.
To find influencers, start by researching your market and know which celebrity can most likely be the face behind your products or services. Look for popular hashtags on social media platforms like Instagram and TikTok. Don’t be greedy after follower count; focus on the quality of the influencer’s interactions with their audience.
Get Onboard on Product Challenge
One challenge with viral marketing is making sure people understand your product. A clever video might not explain what your product does or how to buy it. So, why not make your product the star of your viral campaign? GoPro does this well with user-generated content challenges like #GoProAwards. By turning your product into a challenge, you make it the focus of your marketing. This approach encourages users to engage with your product and share their experiences with others.
Entice with Exclusive Beta Version
It is in human nature that people would want the stuff that they can not have. So, you can take advantage of that psychology and bring urgency to purchase your product or service. Many successful startups including PayPal, Slack, and Google have introduced an exclusive beta version for a limited time to draw more people to hype. By requiring an invitation to access your product, you attract early customers at an early stage of launch, helping you build a loyal customer base from the start.
Host Official Events and Global Conferences
The 21st century is known for socializing and a major part of socializing has been done online these days. Most startup founders host both online webinars and discussion sessions and offline events like conferences and trade shows to connect with influencers and potential customers.
With these events, you can bring together people who are interested in your industry or niche. Software developer Mike Perham promoted his product, Sidekiq, at Ruby programming conferences. His strategy helped Sidekiq gain traction and become a widely used tool in the Ruby community.
Giveaway Products
Believe it or not, people like freebies, and using them to promote your brand can be a powerful marketing tactic. You can give away something as simple as a keychain with your brand logo depending on your budget. Even Reddit co-founder Alexis Ohanian used free stickers to promote the site in its early days, distributing $500 worth of stickers in public places and increasing their user base to 50 million people.
Reach Out to Unconventional Forums
If you want to reach people who are likely to share your product, consider reaching out to forum posters. Zapier used this strategy to build its brand when it first started. The Zapier team emailed influencers who had posted feature requests on forums like StackExchange. By responding to these requests and offering solutions, Zapier gained valuable exposure and endorsements from influential figures. To implement this strategy, search for forums relevant to your product and engage with users who are seeking solutions that your product can provide.
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Summing Up
Startup marketing needs creativity and fresh ideas so if you are wondering how to make your startup successful then using tactical marketing strategies is the way forward. The more you reach out to people and tell them about your products, the more visitors you can draw as your loyal customers. Whether it’s getting referrals, collaborating with influencers, or joining trade shows, these tactics can boost startups and expand their reach. Success in startup marketing involves trying new things and not giving up.
At Vitruvian Agency, A Digital Marketing Agency, we have an expert team that helps startups grow through innovative marketing strategies. We implement a comprehensive range of effective ideas for your unique startup objectives.