Of all growth factors responsible for a startup’s prosperity, the most important is how it gains customers.
Of course, marketing a merchandise or a certain motive is no longer dependent on tacky advertisements. Once upon a time, a business could deal in poor quality products and still make profit with some good looking, over-hyped advertisements. This was kind of an inorganic way to generate demand of that product. Moreover, the advertisements prepared for the purpose were some kind of hypnotizing channels that could easily fool any being.
But, today, people have become a lot smarter along with their phones. Purchases are no longer vulnerable to how products are being purchased. The social media talks have become so powerful that a mere word of mouth is more than enough to determine the quality, the pros and cons and even the usefulness of any merchandise in question.
Okay, the big speech is now over. So, startups, if you are listening, you should very well keep this little suggestion in mind – never, ever make bad products. It will do you no good, let alone facilitating easy customer acquisition for your business. And more than that, never spend a fortune on creating advertisements that you know will never convince anybody, forget promoting your product. You can, put that money into working for the improvement of the latter, instead.
Next, when you are ready with a strong, market-puller product, you should start with brand promotion via storytelling. Your resources and finance should then redirect toward narrating and funding the narration of accounts and anecdotes associated with the merchandise. Surveys, too, are important, as a promotion is only partially complete when done solely by the company. Consumers are as important as the sellers, their stories, even stronger than anybody else. They are the most redundant carriers of the word of mouth information and the biggest promoting machines any brand can ever have.
Every startup must keep these following customer acquisition strategies in mind, without fail:
- You cannot do without the word of mouth thing anymore. A good product plus some great reviews upon social media is the perfect brew to a brand’s success and recognition.
- Calculate approximately the profits that are likely to come from a consumer relationship you are planning to go for. Customer lifetime value (CLV) will greatly determine the financial success of your product, brand and company.
- Keep yourself and your staff updated on market trends and the latest launches that would prove to be tough competitions for your merchandise.
- Keep a tab on your budget and the results of your marketing efforts.
Promoting new and old launches is incomplete without online marketing. You need to have a website for your trade and make use of the social media to reach out to your customers. And then, you also need to work on the visibility of your website upon major search engines like Google, Bing and Yahoo. In other words, your online presence should get a boost from attempts like Search Engine Optimization (SEO) that would earn your website an organic rank in Search Engine Result Pages (SERPs) and help others connect with you via this medium. And then, love platforms like Facebook, YouTube and Twitter. They are the hottest trends of marketing over the Internet.
Business listing is another way to pull in clients for your products. And never underestimate the importance of offline marketing. They are less powerful, but still existent. The television, radio, leaflets, flyers, Yellow Pages and trade events are still used by many to attract consumers. Of course, you have to remember how poor products never sell beyond a certain limit.
The main problem with startups is the lack of resources and enough fundings. So, whatever ways you choose for your marketing endeavors, remember to keep every action affordable and within your budget. Customer acquisition is a critical issue. The more carefully it is done, the more are the chances of acquiring potential consumers who would prefer to choose your product and your brand again and again.