Starting a business is a rewarding experience but it has its share of challenges. The most challenging aspect of a high gross startup is in regard to financing. A startup needs a lot of financing and this often comes from external sources. As an entrepreneur, an individual is answerable to his investors who are looking for high returns on their investments while setting their risks. The risk and failure rates are associated with any startup are high. Startups often look to fill a gap in the market and offer products and services that bring solutions to address that gap in the market. This involves developing a niche which can be a risky venture.
As startups are expected to bring high returns with limited resources, how can one as an entrepreneur maximize his profits while minimizing costs?
Digital Marketing Discovers New Talents
Being a startup many people don’t know about the company and its products and services. Having a niche market that caters to a specific market audience requires innovative marketing strategies. However, there is a cache that needs to accomplish all of these with limited resources, which can be very tricky. Nowadays, everyone finds the products or services they are looking for through google search engine. The easier to find one’s products or services, the better the company’s sales.
However, numerous startups tend to turn a blind eye on building appropriate marketing strategies. A study found an astonishing 84 percent of marketers do not have a formal content strategy.
Here we will talk about different parts of digital marketing and how they can be utilized for maximum ROI:
Search Engine Optimization
Using Search Engine Optimization (SEO) one can optimize the company’s website structure and content with the help of web design services to match perfectly with user intentions so that the website is the first result a user sees after typing his searching entry on various search engines. Although it sounds simple, getting to the top can be difficult without the right strategy. This is because of the number of competitors in the market and the plethora of products and services out there.
The right strategy uses a combination of techniques like contextual link building, which increases the number of backlinks you have on your website. Off-page optimization improves a website structure and content by using keywords relevant to the user search entries. On-page optimization to get you to the top of result pages.
Social media presence
People use social media to connect, communicate, and share with their peers. Hence, using social media as a platform to launch a marketing campaign can one of the most cost-effective methods out there to help a startup connect with a large audience. The benefits of social media marketing are plentiful, especially when an entrepreneur is in the infancy of his business. According to McKinsey, word of mouth drives 20 to 50 percent of purchasing decisions. Not only this, on Instagram alone 80 percent of people follow at least one business.
Digital marketing can be a great way to engage customers with great content either in the form of video design and graphic design or by writing helpful informative blog posts that engage users. Marketing in a digital age no longer focuses on pushing products and services onto people because it involves the waste of time and resources on selling to people who see no relevance in the product. Instead, the focus has shifted to inbound marketing which focuses on drawing people and by engaging them effectively through the creation of content that prospects find useful and informative. However, the content should not be thought of as an end but it means a kind of an end.
Good content writing delivers a call to action from the user either to subscribe to a newsletter, try a demo version of the product, or get them to contact an expert. This can be accomplished by using content writing services, which strategically use keywords, relevant to user intentions to be easily discoverable and persuade a call to action from the user. This is also a great way to enhance user experience and build brand value for the company. With the number of marketing channels out there it can become very difficult to manage the progress of a marketing campaign. But by automating marketing efforts an entrepreneur can streamline marketing campaigns. According to CMI’s digital content marketing, 72% of marketers say content marketing increases engagement.
Automating marketing services through email marketing services not only helps automate the marketing process but it also helps to deliver personalized messages to prospects based on user behaviors. Let’s say some customers made an inquiry about a product. Executives can email them information about the product and other related products based on their preferences. In fact, email marketing is a part of lead generation services that help businesses nurture and develop new leads by building personal connections with new customers.
Long-term marketing strategy
Traditional mediums of marketing like brochures, TV advertisements are no longer having the impact they used to have. Not only are traditional mediums expensive but they are hard to customize for a specific audience and therefore not the best marketing option for any startup company. The digital age has completely transformed the way people consume and the way people process information. This has given way to the establishment of the e-commerce industry which capitalizes on this digital transformation, particularly e-commerce management.
Most successful startup companies have come from long-term wins with search engine optimization and conversion rate optimization. Such companies identify the nerve of customers through phenomenal market research that allows them to predict and set their ROI. For instance, they develop a huge following very quickly by allowing the customers to help promote their products or services for them. It is critical to use as 92% of people trust personal recommendations more than other marketing forms.
Conclusion – Getting people to click on a website is hard enough to get ahead of the game. A startup strategy should be to convert as many website visitors into customers, which is the ultimate goal of developing a website in the first place. This tactic is referred to as conversion rate optimization. The size of a company no longer matters, it is the way a person projects his brand image and product/service quality that truly matters at the end of the day.
Read Full Post 10 Best Institute in Canada of 2020