For startups, it is crucial to invest money as efficient as possible. Especially in the early stages of a startup do many entrepreneurs often waste money for expensive marketing campaigns which do not deliver the expected ROI. Here are four selected marketing tips for early-stage startups:
1. Focus on selected channels
By nature, your startup’s marketing budget as well as your marketing team are much smaller than in other companies. Your competitors probably have hundred times more money available for reaching the same target group. Hence, you should spend your money wisely. Be smart and focus on the channels with the highest expected return. Moreover, make sure to choose channels which can be scaled later. In case that one of the channels does not work at all, be fast and use another one. There is not much time to wait for improvements.
2. Don’t underestimate content marketing
Content marketing can be very powerful for some startup, even if it takes at least half a year until you can expect first results. Content marketing is not for free and costs money as well. But it has a great potential for upwards effects and helps you as a marketer to establish relationships with the right target group. Distributing your content through influencers, social media or mailings can easily be done with a small team. Again, you should focus on the most valuable keywords in the mid-term.
3. Don’t overestimate performance marketing
Search engine advertising can be a powerful tool for reaching customers, especially in the ecommerce business. On the other hand, a lot of money can be burned with paid aids in a short period. Especially in the very early stages of your startups would be a real SEA-specialist needed to target the right group. Choosing the right performance marketing strategy before reaching product market fit is challenging and should therefore be tested with a very small budget or postponed to a later stage. After reaching product market fit, performance marketing can boost your reach and help you to get attention from your target audience.
4. Don’t over- and underestimate PR
The effects of PR can be very different from startup to startup. There are some well-known companies who grew by only doing good PR. Good PR means that you must be in the right online channels where you get in close contact with your potential customers. Your web presence as well as your landing pages should be optimized for reaching the best results. While some blogs can bring you thousands of clicks, you need to make sure that these clicks turn into registered users. Paid PR on the other hand, often does not pay off. Most of the powerful blogs are independent and do not take paid posts. Before spending a lot of money for an article, you should make sure to check the company’s readership. Have a look on all social media profiles and see how often the last articles have been shared and commented. We hope that these marketing tips help you to make the right decisions! All of them helped us to improve our marketing outcome. We would love to hear your tips and will share some more experiences in one of our next blog posts.
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