What is a start up?
Start-up is a business at the infancy stage. Generally founded by one or more entrepreneurs to offer a unique product or service to the market. Mostly funded by themselves or friends or families. Hence the sword of better ROI keeps hanging on you immediately after the business is started. Having a clear strategy with achievable goals in mind is very crucial to run the business successfully.
What are the problems that a start-up faces?
There are lot of challenges faced by start-ups. Let’s have a look at it
Low Budget: The very first challenge faced by almost all the start-ups is lack of adequate funding. In most of the cases it’s self funded by entrepreneur or funded by friends or families. It is usually very tight budget on which the business runs.
Brand Awareness: As its a newly started business, nobody knows about it and nobody cares to know about. Clients will take interest only if what you have to offer is of value for them.
Lack of Creative Marketing plans: Due to tight budgets, it is very difficult to have an economical and impactful marketing plan to boost the sales of the company.
Ever increasing competitors: Each day there are millions of brands and products launched . Your start-up will have to ensure that you are a notch above them to be relevant to your audience. Increasing competition in your niche is another daily challenge that every start-up has to live with.
Acquiring and retaining customers: In this dynamic world, there is no customer loyal to your brand or products. You have to let him feel that he is getting value for what he is paying for. Retaining the existing clients with new creative ideas on upgrades in the products or services is again very crucial.
What is Digital Marketing?
Digital Marketing or online marketing is a way of marketing products or services to target audience through internet or electronic devices such as mobile phones. There are different categories in digital marketing like content marketing, email marketing, search engine optimization, social media marketing etc.
Traditional marketing is more conventional way of marketing for a generic product to wider audience via newspaper, television, radio etc. There are few major drawbacks of traditional marketing for a start-up:
Higher Cost: The recurring heavy cost incurred to market the product will be fruitful only if it is viewed by the target audience.
Little Interaction: With traditional marketing there is very limited or no interaction of the customers with the medium used for marketing. This method only helps to create awareness about the brand in the hopes of converting the potential customer someday.
Poor Measurement: As the traditional marketing is done via newspapers, television, radio, broadcast etc., it is practically impossible to measure the amount of results from a particular source.
Why Digital Marketing for start-ups?
Any business today (regardless of the size) can leverage the benefit of digital marketing to reach to their target market, connect with their customers and convert them into their buyers. Today almost everyone are doing research online before making a purchase of any goods or services. So it is advisable to your start-up to connect with your customers where they are. Digital marketing helps the business to reach out to new customers and develop relationships at a fraction cost of traditional marketing.
Advantages of Digital marketing for start ups
Economical Customer Research: Entering in a market with assumptions that your product or services will be happily accepted is the biggest mistakes most of the start-ups do. Today with various keyword research tools and conversion tools which is available at no cost, one can research about the product and services they are into and their demand and conversion in the target market. This will help start-ups to take informed decision.
Measurable Results: Thanks to Google Analytics that now you can measure the results of the marketing campaigns. Basis the results you can now understand which campaign is not working and which one to focus on to boost sales. It provides us with tons of your customer information including the no. of people who visited the site and what percentage of them converted into buyers.
Budget friendly: As digital marketing is more target based and concentrated approach, ROI is quite higher compared to traditional marketing. If there is any change or update that you wish to do in your promotional message, changing the same in digital medium will not cost you anything. Whereas the same if you had to do it for newspaper, you will have to pay the same amount as earlier.
Customer Engagement: Digital marketing plays a very crucial role in higher level of customer engagement, be it through e-mail or social media comments. Customers feel one on one relationship with the company. Once this relationship is build, it takes minimal efforts for the brands to retain these customers and they become their evangelists.
Content Marketing: For a start-up running on a tight budget, content marketing is relatively economical or free way to market your business. Consumers are looking for information about products online. When they arrive at your site, you have the opportunity to turn their quest for knowledge into sale. And once the content is added to your website, it attracts more clients for free.
SEO: SEO is the best way for search engines to figure out what the site is all about and how useful it is for the user searching for it. Hence with a great and useful content added to your website, compel Google algorithms to rank your website better and show up your site whenever your content keyword is searched for.
Brand Awareness: With the use of social media marketing, your start-up starts gaining more attention and your brand is started to be recognized by many.
Understanding digital marketing and implementing the methods and techniques might not be your expertise. It will take considerable time and money to get you the favorable result. So working with a specialized digital marketing agency like ours will help you achieve your goals and higher returns on your investments. Contact us if you would like to discuss digital marketing campaign with us.