How To Advertise A Start-up Business
For any business to be remotely profitable in this day and age, advertising is everything. All start-ups have a certain market and niche that they cater to. The founding entrepreneurs and the employees working there know it, but do the consumers know it? This is where marketing and advertising play a very big role in ensuring that your product is being delivered to your target audience.
Now as a start-up you know that you must save money and capital wherever you can and remain cash positive. This is also included when one talks about marketing and advertising strategies. Saving money doesn’t mean compromising on your marketing strategies. It means that one must be a bit inventive and nifty in the practices they do end up implementing. Here are some of the low-budget marketing strategies that I feel are extremely useful for a start-up.
Four low budget marketing and advertisement strategies.
1. Using referral techniques
Referral marketing techniques is where the start-up does no marketing at all. Instead, the consumer does the marketing for them. As consumers, we are more likely to trust the opinion of a close friend or family. In that case, we are likely to try out a new product or service if someone we know has already done so.
The best part about a referral program is that aside from it being so cost-effective, it tends to bring in a lot of customers. Depending on the structure of the referral program you wish to set up, it can also end up being free.
2. Content marketing
Content marketing is another sure shot way to get consumers interested in your product or service. Online marketing has such an advantage and is extremely cost-effective. Create a website for your start-up and start writing blogs about the niche you are in. This is a great way to expose your company to online traffic and in turn, it helps increase business.
3. SEO (search engine optimisation)
Content marketing works side by side with SEO. Sure you have written numerous blogs concerning your business. But SEO is what will make it visible to a large number of users online. An SEO strategy’s main aim is researching keywords that are relevant to the business. These keywords when used in an article helps optimise your work to make it visible to a higher number of online traffic. Aside from keyword optimisation, SEO also includes interlinking relevant webpages to increase clicks and views. Writing good quality articles is imperative as it also attracts backlinks to your website.
4. Social media marketing
Social media marketing is a fast-growing marketing strategy. This is because billions of people use social media platforms. To start, make sure that your start-up has a social media presence on all the major platforms. This includes Facebook, Instagram, LinkedIn, Twitter etc. Now creatives in the start-up must create content that relates to your niche product or service. This process is a time consuming one as it takes time to build up a following. However, once the following builds up, it opens up your start-up to many more consumers and potential customers.
You can also collaborate with other social media brands to gain greater exposure. It’s imperative to make sure your content is engaging and relatable.
To Sum Up
Once your start-up gains recognition and you’re up and running smoothly, then you can move on and think about spending additional money on advertising. Until then, these marketing strategies will work wonders and help increase brand awareness of your start-up. Make sure you include your marketing strategies in your One Page Business Plan. It will help you to keep better track of your ideas.
I have developed a one-page business plan for all start-up founders and entrepreneurs. This business plan helps you ideate what you would like to achieve the following year as well as the activities you are willing to give up. It helps you to understand the shortcomings of the previous year as well.
About Devansh Lakhani
Director of Lakhani Financial Services, and a Chartered Accountant, he helps start-ups raise funds from his network of investors. He guides and advises start-ups to scale up by providing efficient sales, marketing, team building, and business management strategies. He has executed fundraising by block deals on the stock exchange and conducted IPOs and right issues on the SME platform to the tune of over Rs. 50 Crore. He is currently working with start-ups from various sectors to help them channelize their business models and investments.