Marketing done right can be an incredible boom for your business’s net income. Done wrong, however, it can feel like throwing money into a raging bonfire. Because small business owners have to be whatever their small business needs all the time and it can be difficult to master all the nuances that go into sales or marketing. If you’re not a natural salesperson, it can be even more difficult. Fear not, the following marketing tips for startups can help you make more sales, market better and waste less money.
Sell The Benefit - Not A Comparison
How you market yourself is all about highlighting what makes you different. There are three major ways to do that. Cost (you know how to price a product better than the competition), quality (you’re better) and combination thereof (you offer the better value).
But how you sell yourself is different than how you market yourself. You can tell someone that you provide a product or service that is cheaper or more effective than that of another business, but that doesn’t say how much better you are going to make the customer’s life. Selling is about the benefit. A comparison may highlight the features you offer, but you are always selling benefit.
Market Your Product Before It’s Ready
Some businesses wait until their product is perfect before they do any marketing or awareness campaigning. That can be a costly mistake. Many businesses expect to sell their product as soon as it’s ready. But if no one knows about it, then demand will start at zero until you undergo a marketing campaign to build brand awareness for potential customers.
It’s better to do pre-emptive awareness campaigning, even if it’s minimal, to let potential customers know your product is coming. You can sell the benefit before the product has arrived. This way, when the product is ready, so are customers!
Advertise On Multiple Platforms
As mentioned above, it’s good to test multiple marketing channels and ideas to see what works best. Often, it’s not any one thing but a combination of all of the above. When your customer hears you on the radio, sees you in a search engine result, and then finds you mentioned in a blog they like (content marketing), they start to accept your brand as a solid, dependable, known entity. They may not have the need for your product or service immediately, but when they do, it will be your name that comes to mind instead of a competitor’s.
Measuring Your Marketing Analytics
Marketing that you can’t measure is failed marketing. Sure, you may spend money to do some advertisement, and you may even see an uptick in sales around the same time you ran the ads. But how can you be sure what you spent on ads correlates with sales? Maybe it was something else altogether. Maybe there is a natural, seasonal uptick for what you sell that will go away in a month.
If you’re going to commit time and money to a marketing campaign, make sure you can measure the results. Set up ways to track conversions that stem from each marketing campaign. Also, run multiple types of marketing campaigns in distinct, small batches. This will allow you to compare marketing channels and see which perform best. Toss out the ones that don’t work and keep those that do.
This blog was inspired from Entrepreneur https://www.entrepreneur.com/