Many startups subscribe to the “if you build it, they will come” mentality.
They think that a great product or offers a great service is all they need to be successful. While having a unique, helpful offering is important, you also have to do the startup marketing that helps people discover your startup.
This is where digital marketing comes in. Digital marketing is the most cost-effective way to get your startup in front of a large audience of potential customers.
Why Does Digital Marketing Work for Startups?
Digital marketing your startup is all about cost-effectively getting your name and offering in front of as many people as possible.
Millions of people use the internet every day. Simply by having a website and social media presence, you are making it easy for them to find out about your startup.
Websites are absolutely essential for companies to have – most consumers will write off any company or product without an easily accessible website as a scam and buy from a competitor instead. Your website is the key to making sure potential customers have access to positive, reliable information about your products and services.
Social media is equally important to have. It is a more active startup digital marketing tactic than a website. Websites have to be sought out by customers, while social media profiles can make use of the platforms’ built-in algorithms to be suggested to consumers. Consumers don’t have to go looking for your startup – it will show up on their feed.
Millions of people around the world use social media every day, making it an ideal way to reach as many potential consumers as possible. It is also a cost-effective way to reach a wide audience. Posting on social media is free, and while advertising costs vary by platform, they are often less expensive and easier to use than other online advertising platforms.
Social media profiles also have the benefit of built-in analytics. Facebook, Instagram, and Twitter will automatically collect data for business profiles, letting you see who is interacting with your posts when, and what content does best. You can also incorporate tracking into your website using Google Analytics.
By making analytics part of your startup digital marketing plan, you unlock information on the potential consumers that are interacting with your content – everything from demographic information to when they are online. This can help you better understand existing target audiences and create new ones.
Analytics can also help you track KPIs to understand how your startup is meeting its goals. Being able to show off sales and consumer data is also a great way to show off your growth and attract investors or sellers.
Within your startup, analytics can help you understand your customers’ behavior as they interact with your company. You can discover what content your customers interact with most, when they are most likely to interact with it, how quickly they move through the sales funnel, and when you lose consumers in the sales process.
3. And More
Your digital marketing efforts will be as much about creating awareness for your startup as they will be about making sales. Getting your name out there will increase people’s ability to recognize your company. This way they’ll remember your startup when they’re ready to work with or buy from you.
Being recognizable and having a well-established online presence will lend your startup credibility, too. When your website comes up in search results, people who have heard of your startup before are more likely to feel comfortable interacting with it because they recognize your name. Those who don’t recognize your company name will probably do further research.
How To Market Your Startup
If your startup is up and running, chances are you’ve already done a fair amount of market research – you know who your competitors are, their strengths and weaknesses, and the opportunities your company has to break into the market. This research is a good place to start digital marketing for your startup.
You’ll also need to be aware of your marketing budget. Having a free web presence is a great start, but having a digital marketing budget will allow you to create professional ads and pay for ad placements. How much of a budget you have and what your strategy is will determine where you use that budget, whether it’s search ads, display ads, or social media ads.
Digital marketing isn’t something you should do on the fly. Developing a content strategy will help keep your marketing efforts continuous and consistent. Content can take the form of social media posts, blog articles, email newsletters, advertisements, and more.
Don’t forget the power of the press, either. Pitching big events or significant accomplishments to local or state-wide news outlets can be a great way to give your startup extra legitimacy and help you reach the people who aren’t on social media.
The importance of digital marketing boils down to the fact that no one can buy your product or use your service if they don’t know about it. You need to get your business in front of as many people as possible in a way that is both time- and cost-effective and digital marketing is a great way to do that.