18 feb How to become the marketer your startup needs
Although most startups key focus is on product or service development in the early stages of their business, they typically overlook the importance of marketing and branding their company image. You can have ground-breaking, market-disruptive products and services that satisfy customer needs, but what if it never has the chance to reach these customers? What’s in it for you then?
From day one, creating and executing a solid marketing strategy is crucial when it comes to building a successful and sustainable business over the long term. This sounds great, but how do you become that marketer that your business needs? The following tips can help you to map out your marketing path and become visible for your target customer.
- Make use of the power of digital marketing
Although online and offline marketing distribution channels do not need to be mutually exclusive, digital marketing offers the opportunity to reach out to many customers without paying a great deal of cash. Your target audience can be reached in a cost-effective and measurable way which makes it attractive for startups, especially in the early stages when funds are most of the time not easily available.
2. Know your target users and what they want very well
It is useless to develop a sophisticated product or service if there is no demand for this. An important distinction to be made here is the difference between what customers need and what they want.
‘Build something people want, not even what people need. What people need is not the same as what people want and this is the most crucial lesson as an entrepreneur to have that tattooed on your forehead’ – Julian Jagtenberg, founder of Somnox
The more information you have about your target customers, the better. Important is that you should not believe that everyone is your target audience, but rather choose your target niche. This will make your targeted message more powerful and result in lower marketing expenses. One should keep in mind that choosing your target niche does not per se mean that this will remain your focus in the future. As startups get to know their customers better along the way, they often change their target customer while validating their business model.
3. Determine your brand
If you do not know what problem your product is solving and what you desire to accomplish, there is no brand to be solidified. Therefore, it is one of the most important first steps in the marketing process and allows you to convey this message to your customer. Crucial here are your startups’ unique selling points (USPs). A USP is the essence of what makes your product or service better than your competitors. It defines your startup’s unique position in the marketplace and defines the value you offer and the problem you solve. Know what sets you apart and communicate this!