Marketing Strategies for Startups: 5 Tactics That Actually Work

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Marketing is an essential part of every business. It lets consumers know about new brands and their offers. This is more crucial for startups trying to break into different industries. According to marketing experts, young businesses (1-5 years old) spend 12-20% of their gross revenue on marketing alone.

But spending a lot of money on marketing won’t guarantee results if you don’t get everything right. Here are five marketing strategies startups can use to boost their success rate.

1. Have a clear and compelling message

People don’t care much about the success of your business. All they need to know is how your products or services will solve their problems. Make sure your commercial ads focus on their pain points.

Keep your ads short, simple and informative. Avoid complex jargon that people have trouble remembering. Watch how big brands like Nike keep their slogans and slogans short and memorable. No one can forget iconic slogans like “Just Do It” and “I’m Lovin’ It.”

2. Offer free trials

Business is about taking risks. Offer free trials to see if there is a market for your products. Free trials allow consumers to test your products and services to find out how they solve their problems better than existing solutions.

For best results, make sure your free trials have impact, provide a positive experience, and inspire people to take action. When done right, free trials can convert prospects into paying customers without difficulty.

3. Consider affiliate marketing

Affiliate marketing is the latest craze in digital marketing. According to a survey, 90% of advertisers say affiliate marketing is an integral part of their marketing strategy. Join affiliate groups and forums or take a course and find out how it goes.

You can work with influencers to promote your products and pay them for each recommendation. They can post links and short video clips on their social media accounts that direct people to your site. If your startup sells luxury cars, you can create a car stock image library and share it with the influencers you work with. Incentivize people to become your affiliates by rewarding them well.

4. Create a benchmark engine

The best referrals happen organically when happy customers talk about your products or services. You need to create a referral strategy to grow your business quickly, especially if it’s a new business. Create a good referral program that encourages customers to refer more people to your business.

Identify and work with promoters who can recommend your products and services to their networks. Also leverage user-generated content to increase your conversion rates.

5. Sponsor an event

Sponsoring an event is a great way to draw prospects’ attention to your business. You can sponsor a small charity program or educational campaign that promotes or benefits a cause that is close to your customers’ hearts.

For example, if your business is in the health and fitness industry, you could sponsor a local soccer team or short marathons. Invest heavily in event branding. Use banners, signs, kiosks and any other marketing materials at your disposal to increase your business visibility.

Disclaimer: This article is a paid publication and does not involve any journalistic/editorial involvement of the Hindustan Times. Hindustan Times does not endorse/endorse the content(s) of the article/advertisement and/or opinions expressed herein. Hindustan Times shall not be in any way responsible and/or liable in any way whatsoever for anything stated in the article and/or also with respect to the view(s), opinion(s) ), announcement(s), statement(s), affirmation(s) etc., stated/presented in the same.

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