Many new businesses enter the world of business without a clear marketing plan. It is easy for entrepreneurs to fail at the first hurdle because of naivety. Having no marketing budget behind a product launch and failing to utilize all possible relevant channels is a recipe for disaster. Businesses should view the capital invested in marketing with the same importance as what they invest in manufacturing their product in the first instance.
The internet has both positively and negatively affected new businesses. It’s great for reaching the masses, but the competition is high. Often, the winners are those with the most money and the best marketing companies behind them. Therefore, it is vital that business owners possess a realistic mindset when launching their products. This can mean accepting that even the best product in the world is useless if nobody knows about it. Although some entrepreneurs find success pitching the large retailers, most start online, so getting online marketing right is essential.
Online Marketing
The world of online marketing is a scary place for a new business. It is difficult to know where to start, which platforms are best for the business or product, and how to present it to the masses. It is important to remember, however, that as a start-up, the internet is a crucial tool. Using the internet as a tool to get the product seen by potential customers is the most effective way of growing a brand. Digital content is easily digestible, cheaper, and has the potential of a greater reach than other forms of media.
Keeping Track of the ROI
When promoting a business digitally, it can often feel like throwing money away. Therefore, it’s important to keep track of the ROI and analyze statistics regularly. By doing this, businesses see clearly that their efforts and funds are not being wasted, although it may feel that way at times.
Keeping track of the ROI will also help businesses to recognize when changes are necessary. This can be a constant learning process for most businesses. Putting a marketing company in charge of this responsibility can alleviate some of the pressure.
Tips For Marketing a New Business
There are many ways to give a start-up a marketing boost and improve the ROI. Marketing is key for businesses of all ages, but for a start-up, getting it right in the initial stage is crucial. Some good start-up marketing tips include:
Utilizing all social media platforms by creating an account on each and posting regularly.
Developing a content strategy that incorporates a range of content options.
Website optimization, using best SEO practices, and adding consistent blog content.
Ensuring branding is strong and the business has a “persona” and “voice”.
Seeking PR opportunities that will give exposure to the brand.
These are all areas that can increase brand awareness and give a start-up the boost it needs to succeed. A marketing company can help take care of these responsibilities and use expert knowledge to get the most out of them.
The Benefits of Outsourcing Digital Marketing Responsibilities
A good marketing company will be happy to manage stats and create reports if needed. This can save businesses a lot of time and hassle. Putting a marketing company in charge of other marketing responsibilities, such as content creation (copywriting, graphics, visuals) also allows business owners to focus on other important areas. Furthermore, a marketing company knows how to get people interested in a product, which can generate better results.
Thinking of the Bigger Picture
The first year as a start-up can be tough. Most businesses will realize they need help from others or outsource some of the work to a marketing company. Spending money is of great importance. Investing in a start-up business financially is essential, especially when it comes to marketing. It is important to look at the bigger picture.
Taking the load off where possible is recommended. Letting a marketing company take some of that load can be a huge relief.
Why Not Get Help with Your Marketing?
Need help with marketing your new business? Contact Fifth & Cor for information on the digital marketing services we offer.