Top 5 Marketing Strategies for Startups

One of the basic difference between a successful startup and a business that cannot even come out of a survival phase is an effective marketing strategy. If you want to make your start successful and your business more effective you must have a clear marketing strategy.

An effective marketing strategy means taking the decisions that will make your marketing tactics work better and reach more audience. If you have a good product that people love but you don’t have a good marketing plan it will be very hard for your business to survive let alone flourish.

There are several things that you must consider before developing a marketing strategy but the following elements are the most important ones.

Top 5 Marketing Strategies for Startups

1. Target Audience

The first and one of the most basic steps in defining any marketing strategy is knowing your target audience. If you don’t know the people or the group of people who you are going to sell your product to how can you run a successful marketing campaign? Although defining a focused target audience sometimes means that you are losing a few potential customers and this may make Startup owners uncomfortable at first but the advantages of this step show up with time. The more focused and narrower your target audience is the greater are the chances of your business flourishing.

2. Defining a Category

Defining a Category for your startup simply means a short description of your business. You should be clearly able to communicate to the customers what is it that you and your business are offering. Most of the entrepreneurs make the mistake of over-complicating their business description which can often drive potential customers away from the business. Clearly defining the category helps in the amplification of your marketing and sales efforts and ensure a successful marketing strategy. Your category should be defined in such a way that no doubt is left in the mind of the customer about what your business is about.

3. Unique Benefits

Properly describing the unique benefits of your product is also a very important step while driving a marketing strategy. Unique benefits are not all the features of your product but the main things that your target audience will be looking forward to seeing. Unique benefits of any product will be one or two because too many unique benefits will result in a divided and confused audience. The simpler you describe these benefits the more effective your marketing policy will be.

4. Knowing your Competition

This is also a very crucial and can be the difference between a successful and a failed startup. Anyone seeking your product will definitely look at the market for similar products. If don’t clearly differentiate between your product and the ones that your competitors are offering the customer will end up confused and you can lose a large number of potential customers. You need to be clear about who your biggest competitors in the market are and make a marketing strategy in such a way that the customer is attracted towards your business.

5. How are you different/better

The best way to attract customers is by clearly describing the things about your product that are different and better than the ones being offered by your competitors. However, you should be careful to not over complicate this step. The best way to do this is by making a list of features that are better and different in your product and then shortlisting these features according to your target audience. By selecting the features that will be most interesting for your target audience and advertising them in the correct and effective way you can significantly enhance your marketing strategy.