Many founders underestimate the amount of capital required for proper marketing. Not only that, many don’t even know where to start. Luckily for you – we’ve compiled a few marketing tips for entrepreneurs with limited marketing knowledge.
Here are four marketing tips for your startup that will help your team stay competitive.
1. Market Your Product Before It’s Finished
A lot of startups like to keep their product under wraps before marketing it. In some cases this is smart. For example, if you’re building proprietary technology then you probably want to keep things internal until you’re ready. If you aren’t building something revolutionary however, you should start marketing your product well before it’s ready to launch.
Even if it’s something small you should start marketing your product while it’s still being built. One strategy is to start building an online presence through your company website and blog. Start creating content that is relevant to your industry and potential customers. Then once your product is ready, you’ll already have a bit of a name for yourself and hopefully some customers ready to buy.
2. Always Collect Reviews
Whether they are good or bad reviews they are important nonetheless. If you don’t provide your customers with a place to leave feedback they’ll feel like their opinions aren’t important. Obviously it’s best to focus on highlighting your good reviews. However it’s arguably more important to address and highlight your complaints.
If a customer complains about your products or services it does two things for you. One it shows you where you may need to improve. And two it gives you the opportunity to publicly assist the customer and rectify the situation. If others see how willing you are as a company to right your wrongs they’ll feel confident in using your services.
3. Gain Credibility
Building credibility is one of the best ways to turn a potential customer into a buying customer. One of the best ways to build credibility is through PR. PR is all about building up your brand through trusted and respected publications. If you don’t have someone in-house who handles PR you should definitely look to secure some relationships.
You should get in touch with relevant publications in your space. Offer free products or services to publications in return for a mention in an article.
Pro tip: If you have a strong in-house content presence it’ll be easier to build relationships with outside publications. This is because it gives you the opportunity to trade content (and syndicate) with other publications.
4. Target Influencers
People buy what they know and from people they trust. This is why influencer marketing is becoming one of the most popular marketing strategies in the modern world. With so many digital channels at our disposal influencers can easily promote products and services to millions of followers with the click of a button.
When you look for an influencer you need to focus on quality over quantity. Look for high engagement over a large following. In addition you should make sure you pick an influencer specific to your industry. Once you’ve found your influencer you should offer them free products or services in exchange for a product review. This is a very popular strategy used with YouTube influencers.
Final Thoughts
Marketing is becoming an increasingly complex industry. In addition, very few founders start their company with in-house marketing talent. If you fall into that bucket, use the four marketing tips above so you can get out there and sell more product!
Renzo Costarella
Renzo Costarella is an entrepreneur, avid learner, and startup enthusiast currently living in Silicon Valley. He consults for several startups in the Bay Area and is pursuing a few ideas of his own.