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As I write this, the startup world is in turmoil and the economic outlook is no better. Many companies are looking to streamline, ramping up initiatives and completely rethinking their approach to sales and marketing. It won't always be like this - it's a cycle - but that doesn't make it any easier to get through. The main question every marketer asks is “What should we do?” That's what it says.
Get started with these five startup marketing steps. They form an excellent foundation for any marketing strategy, even at the best of times, but be careful at the worst of times. Apply them, and when the cycle wears off, you can be head and shoulders ahead of your competitors.
Related: 5 Marketing Mistakes Startups Must Avoid to Survive
1. Talk to your customers!
If in doubt, talk to your customers. What are they experiencing, what do they need and what do they expect in the next three, six, 12 months? Your concerns may be new to you and your concerns may not be fully relevant to you. Here are some questions to start the conversation.
How does it compare today compared to that time a year ago?
Would you like to spend more, less or the same amount in this area?
What is your biggest problem right now?
What do you think will be the biggest challenge in six months? 12?
Why did you want to buy this item or upgrade your account?
What's stopping you from spending money on it?
What do you like best about what we do? What are you not doing?
Use these customer interviews to shape your marketing.
2. Create a hassle-free shopping experience
The best customer experience removes everything between the customer and the purchase. Friction is always a good target, but in uncertain times like these, you have to find a way to avoid friction.
Some driving ideas
Build migration tools that allow customers to transfer their data from competitors to you.
Offer something amazing for free or at a big discount to get people interested: lowest plan, passengers, delivery, managed services, etc. Hubspot has done this very well during the Covid-19 pandemic.
Showcase your product or value and put control in the hands of the shopper.
Do the work for your customers: create templates, packages, widgets or whatever you usually turn off.
This is how you turn an unpleasant situation into a good opportunity for you and your customers.
See Also: 7 Free Steps to Boost Your Bootstrap Startup
3. Communicate clearly and consistently
The resulting company is what you remember. This is especially true in times of uncertainty, volatility and crises. The caveat is that you can't just repeat what someone else said. you have to drive
Define topics, enrich your posts and messages and share them. If the volatility is too high and you don't know where you stand or don't have the information to make a decision, share it. involve people. Become a popular brand or thought leader. When everyone sees you, it creates a huge advantage for your sales and marketing.
4. Do more where you can
The answer in tough times is to cut costs, but think about it: all of your competitors are cutting costs. This is the perfect time to double down on what works. You can increase the distance between you and your competitors. Then, as the cycle continues, you will be ahead at a pace that no one else can match.
You must continue to be liable for your assets. It's great when you can invest real money in projects and channels or channels that you know your customers need. If you don't have money, take your time.
Options that require more time than money include:
Build your social media presence and brand
Create content for your blog and other channels
Earned Public Relations and Media: Find outlets and opportunities to tell your story
Update existing content, websites and workflows
search engine optimization
Strengthen your customer or follower community
Remarks. If you want to increase your yesterday's earnings, balancing your account and repeat purchases will bring you the least earnings. If not, invest in creating a big gap between you and your competitors.
See Also: 7 Steps to Paid Marketing to Boost Your Startup Growth
5. Take control of your business
The transaction ends up in the "We'll help you later" basket. They usually have enough firepower to interest and destroy if you try to lock them up, in addition to other assets that can escape the task. But those moments when everyone stops and takes stock are the perfect opportunity to review your business and your metrics:
customer acquisition costs
Customer retention and repeat purchases
Annual contract price or annual fee
workflow
Automatically
Customer account and purchase method (see Section 1)
Quarterly targets and key performance indicators
"The more measurable the better." Look at your trades and other metrics to find out how good or bad you are, what you can improve, and where you can bet more (see Section 4). Use this data to inform your marketing strategy.
Don't react quickly
Everything happens in cycles. Although the current situation is challenging, expect bright days in which your business can thrive. Be careful not to make any hasty decisions - you don't want to suffer long for temporary relief. Track your performance, care about your customers, communicate clearly and consistently, and play big. You will be surprised how good things can happen to you.