In the modern day, the society is full of brands fighting for attention; hence, there comes a query of how one can effectively make his or her brand the best? Marketing one’s startup in the competitive market is difficult but there are key approaches that can be utilized to ensure that one succeeds. Thus, this paper enumerates in detail the steps that can be put into consideration to ensure that the marketing strategies for the startup company succeed in the modern competitive world of business.
Focus on Target Customer
This is where one has to stay focused to reach the set market effectively without being overzealous but rather professional. Being aware of the right market helps a startup because the market in question can contribute towards the growth of the business. Moreover, targeting the right market motivates a startup to invest and correlate with the market in orderto attain more market share (Logman, 2011). The implication here is that one has to focus on a particular market segment to attain the set objective of being successful. Thus, knowing what the market desires is obligatory as it will permit the startup to create what is needed for the market in question and attain the set objective.
Build Strategic Partnership
The entity of combining with an already established organization is critical as it is meant to help the startup grow both in terms of professional and experience wise. Therefore, choosing the right partner is advisable because it brings the startup into a better position in the market based on the agreement made between two firms. For success to be attained, the partnership in question has to concur on the policies of undertaking services to generate significant results in a mutual perspective (Benjamin & McDowall, 2010). Thus, the approach of building a strategic partnership can succeed in the presence of understanding and teamwork that needs to be engraved within the agreement for positive results in future.
Engage in Community Outreach
Engaging with the community for the purpose of gaining market share for a startup is fundamental for a business. An example can entail sponsoring event in the community to get recognized. Basically, working with a community in terms of “giving back to the society” motivates the community to have a desire to support the project because they perceive it as an important effort in the market (Logman, 2011). Furthermore, engaging with the University people will also increase the market share because it motivates the current students at the university to work hard with the purpose to achieve what the alumni if their institution have gained after the completion of their studies.
On the modern mode of marketing, bloggers can be of the essence because they have access to a larger platform. Thus, getting information associated with the startup to be published in the blog will generate significant results. Another approach that can be utilized to relate with the community is engaging the local radio and television on the services being undertaken by the organization (Benjamin & McDowall, 2010). Significantly, attracting the community through different approaches is likely to contribute towards the growth and success of the startup in a positive way.
Incentivize People to Share
The strategy in this case entails luring clients in the market through offering them a form of an incentive. An example of an incentive that can be used within a startup organization is offering discounts. When customers hear about discount, they tend to have a desire to know what the product generates in their life. Thus, an example can entail buying a T-shirt at a discount of 5% because it is made of cotton and it comes in different sizes and color. This approach is likely to lure more clients because such an incentive is often irresistible, especially for T-shirt lovers. Facebook and twitter can also be utilized whereby the organization can offer a discount of 5% on any product as long as one comments on a post as #10. Such a move would motivate clients to be online throughout to be the one to be chosen when they comment (Logman, 2011). Significantly, use of incentives is a fundamental approach that can be used to develop a startup organization and at the same time lead to its success.
Develop Branded Content
This is where an organization can opt to write an article at least twice a year on how the marketing and service delivery takes place in the organization. The approach often generates significant results as clients are kept in suspension for a period of six months before they get to know how the company engages with the market. Additionally, surveys can also be initiated within the organization and published in the article as a way of linking what the employees are going through with the public domain (Benjamin & McDowall, 2010). Such a move helps the firm to develop but on a long-term perspective. Fundamentally, a developed branded content is needed for a startup as it motivates employees to work hard with the objective of satisfying the needs of the market.
Leverage Social Media
Social media is an essential modern form of marketing that can work well for a startup because it is easy and cost effective. An organization can opt to use Facebook, Twitter, Instagram or YouTube, but it depends on what is effective for the organization. While positing the contents of the organization, it is always significant to engage with clients by thanking them for either sharing or commenting on the post. The approach is significant as the clients are likely to look at the startup in a positive and welcoming manner because their needs and queries are being answered (Logman, 2011). Utilizing the modern means of marketing for a startup is therefore a route to a success business because most of the businesses in the modern world are done online. As a result, the startup is in the position of succeeding as long as the right market and content is attained.
Apply for Business Awards
In cases where a startup organization has won an award, i.e. both small and big, the organization is in the position of growing bigger. The rationale is based on the fact that public recognition indicates that what is being initiated by the award winner is genuine and professional. Thus, the outcome of attaining an award is significant for a startup organization as it demonstrates that growth and success are being achieved (Benjamin & McDowall, 2010).
Use of Printed Vinyl Banners
Using clear and easy-to-read banners meant to market the services initiated by the startup organization is significant as it is both cost effective and market oriented. Therefore, the banners are needed as they are meant to increase the market share for the organization because of being distributed in the market (Logman, 2011). The outcome of using the strategy is to give the firm the possibility to become successful.
This paper enumerates that a startup needs a lot of investment to fully grow and succeed in terms of market share and profit gain. Therefore, it is significant to implement the right marketing steps to attain a positive outcome for a startup. Fundamentally, the above mentioned key steps are some of the methods that can be utilized by a startup organization to attain positive results in the market.