Top 5 Innovative Marketing Tactics For Your Start-up
The rate at which young start-ups in India are growing is alarming at this point.
Covering every possible sector, the new technology-wielding generation is taking over niche markets by storm. Just in H1 2021, Indian start-up funding has peaked at a high of $10.15 billion.
This has already surpassed the funding raised by start-ups in the entire last year, which was somewhere around $9.94 billion. But all this success is also shared with a higher number of start-ups with innovative ideas failing to take off their feet and closing down in less than five years. Why so?
Well, this problem stems not just from a lack of funding. A lot of innovative startups have collapsed from the lack of creativity and experience. You might have your codebase and technical bits covered, but if you do not have an ironclad hold on your marketing strategy, then your business will start sliding down the slope sooner or later.
As per a recent study conducted in India, it was found that there are 374 million smartphone users in India, with 270 million people having access to the internet. With such a massive and well-connected customer base online, a rock-solid digital marketing strategy is very crucial to spread your name out there amongst the crowd.
Marketing has changed, and so should you. Here are some marketing tactics that you should have covered under your digital marketing strategy for smoother and linear growth in the right direction.
Much-needed Marketing Strategies For Every Start-up in 2021
Social media marketing
Social media marketing is crucial to your marketing strategy. There are about 4.55 billion people on social networking sites around the world. It would suffice to say that it is the way to get your brand the most recognition and exposure, but it would also be one of the cheapest marketing tactics for your business. You just need to know how to use it.
- Facebook - Facebook has a user base of more than 2 billion and can easily promote your niche or whatever products you are planning to sell. You will definitely find a customer on Facebook. Also, the cost of content promotion is very low on Facebook.
- Twitter - It is the best platform for B2B marketing. It can be used for B2C as well. It allows you to run a plethora of ads for multiple reasons.
- Instagram - If fashion, health, beauty, photography, etc., fall under your niche, then Instagram is the place for you.
- LinkedIn - It is a platform for professionals. If you plan to kick off a B2B startup, LinkedIn would be the best option for you.
Email marketing
Email marketing also falls under the umbrella of cost-effective marketing tactics used by growing start-ups. According to a recent study, it delivers almost 40x ROI (Return On Investment). This isn’t the primary marketing tactic of choice for startups, but it is one you can start even before you start the company. Create catchy titles for higher open rates and keep the language simple.
Search engine marketing
With search engine marketing, you can market your enterprise using paid advertisements to have your website rank higher on search engine pages. You can tap into a larger audience and experience a significant increase in your ROI. it basically will show your products to customers who are genuinely interested in buying something that matches the exact description of the product that you are selling at that exact moment.
Make sure you choose the right keywords and create a premium quality landing page with clear calls to action.
Influencer marketing
Like the name suggests, influencer marketing involves influencers and requires them to promote a particular brand or product to a larger market. It’s a considerably low-cost marketing strategy that helps you gain your customer’s trust. Moreover, businesses can easily implement influencer marketing tactics and navigate through its procedures with ease.
Content marketing
Content marketing is a marketing technique that involves creation and sharing of online material for distributing relevant, consistent, and valuable content to entice and retain a target audience. It generates almost three times more leads than paid search. Content marketing is also very effective for SEO (Search Engine Optimization) and SMO. And it’s considerably cheaper than paid ads and builds trust and authority for your brand.
Marketing Strategies Your Start-up Should Experiment With
Referral marketing
Referral marketing is your gateway to gaining a large customer base. Referral marketing is basically where companies ask pre-existing customers to incentivize family and friends to buy from your company. In this form of marketing, your customers become your salesmen.
People are bound to recommend your company, given you keep them happy and satisfied, and offer something for free. Famous companies like Amazon, Facebook, Paypal and several others, use referral marketing to a large extent.
Viral marketing
Viral marketing is where you create content from a very unique and enticing perspective and push it with a rock-solid marketing plan. You can generate massive buzz and traffic, provided you do this right. Viral marketing is one of the few ways businesses can boom overnight.
YouTube marketing
There are almost 265 million active users in India itself, so why not take complete advantage of this scenario? Engage with your audience via YouTube as a lot of people spend most of their time browsing through the second-most famous search engine in the world. Promote your brand via ads and well-crafted videos for maximum audience attention.
What Every Start-Up Owner Should Focus On
The secret to success behind every Start-up is understanding the customer's intent. The foundation of every strategy adopted should be based on customer satisfaction. Hence recognising the customer pain points is a much-needed requirement. Here’s a short summary for the most important pain points to focus on:
- Lack of awareness about products
- Lack of comparisons between different brands
- Failure to grasp latest technology
- Failure to stay updated with the market trends
Bottom Line
Well-crafted marketing strategies are the key to your company’s success. But always remember, you need to understand your target audience to their roots to be able to develop engaging content for them. Do that, build your marketing strategy around it, and engage with them via touchpoints that are comfortable for them. Follow these steps and your marketing efforts will start sky-rocketing in no time.
Posted by Mansi Dhorda
Mansi Dhorda is a Marketing Technology Consultant, helping clients and businesses achieve their objectives. You can connect with her at Linkedin.
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