To begin as a startup isn’t easy as it seems. Once you have decided to start, you need to score a large investment to fund your startup. Because starting businesses require marketing, branding, advertising etc. Do you think starting your business would be of any use or benefit if nobody knows about it?
Absolutely, No. If nobody knows the business you have started then the money and time invested in the business will result in vain. Hence, marketing is an essential parameter that a business crave for.
But everybody isn’t lucky enough to get the amount required for marketing and other business stuffs. Hence, in such situations one can think of starting a business within a budget.
Lucky are those who have money to hire experienced consultants and marketing experts. But for those who don’t have enough money, can think creatively what marketing strategies they should follow and how they can proceed with it.
No doubt, if you’re working with a small budget the path to your success is really difficult. But you don’t need to worry at all. Here are a few guidelines to help with start your own startup within a low budget and make sure that you’re moving in the right direction.
- Choose Your Market Wisely
I know what it means for a start-up to get launched and have dreams of the product or service offered. Since they have put a lot of efforts into introducing their offerings to audiences, they think that everybody will like, love and accept the product or service gladly. And it’s no wrong to think because they are the one who eat, drink, sleep and breathe their products.
But the harsh reality is that only the few population is or would be interested in your product. Because everybody isn’t similar. Their choices, buying behaviour, interests, and demographics differ a lot from each other.
Therefore, don’t waste your time and money approaching everybody. Instead, identify your niche target market and focus on your niche audience.
There are four main factors to consider while choosing a market. Those are:
- The market size
- The market wealth-if the market has money to spend on your product
- Competitors in the market
- Value proposition of the product
- Solidify Your Brand And Be Original
You should know that people will only buy from you when you offer something nice and unique. Make sure you aren’t trying to copy somebody. Be original. You must proceed with a strong business concept. You must know what you wish to accomplish and why and what plans you have for the same.
Stay true and be yourself towards whatever business plans you have set. Never pretend to be somebody else. You should know what better you can offer to this world and why. You should be clear about what makes you different from your competitors. Your brand should be such that it satisfies the customer’s needs.
- Be Crystal Clear About Your Goals And Metrics
Proceeding without a goal is like moving without a torch in the dark. If you don’t have something to show you the direction you can fell down or can get hit. Likewise, without a clear goal you startup business can end before it actually starts or can go into loss after moving certain steps.
Hence, it’s necessary to have a crystal clear goal set for your startup. Before you startup you must have more than one plan. You should be aware of the outcomes and should be ready to deal with whatever situation it will result to.
- Determine Your Budget
However, this should be the very first things to discuss, determining budget will help you decide your marketing campaign etc. A budget helps you with the how much you should spend and what resources you have. Working in a budget is always a good option. Don’t ever cross the budget until it’s very essential to step out.
- Choose Your Target Niche
The more customer you wish to reach, the more money you need to do so. Your product may be such that it appeals many of the audiences, but it will increase your marketing expense. Therefore, choose a niche and target the potential one. Doing this will decrease your marketing expense as well as will modify your messaging in order reach each target group.
- Produce Quality Content And Engage Audience
Quality is a parameter considered the most everywhere whether you buy foods, any product or anything. Similarly, a quality content is always considered over quantity. No matter how much you have written, if your content isn’t able to answer your audience’s queries, it’s of no use.
Only a quality content has the power to engage the audience. Hence, producing a quality content frequently can result sweet for your startup business.
Search Engine Optimisation, SEO is the most important method required to get your business known. Suppose if you have a website, a brand, a product etc. you would like to get it popular among other. You would want people to know about it. The info you have published in the form of content would only reach audience, if you employ SEO. Yes, SEO helps to increase your website rank in the search engines, resulting in more traffic and hence more potential customer for your business.
- Email Marketing
Email marketing is considered as one of the cheapest way of marketing. Whether it’s a small business or a big one, email marketing has gained its popularity everywhere. Also, email marketing is one of the most professional way to approach people. You just need to ensure that you can draft a good mail. If you feel you can’t do it better, you should hire an expert for the same.
- Social Media Marketing
A very cheap and easy way of marketing your brand, product or service. Social media is a channel where you can find most of your audience since a big part of the world is present on the social media. Hence, the chances of getting your product in the sight of others is high.
Also, every social media channel isn’t made for you. You should wisely choose. For example- if your business is all about selling business-to-business then branding your product on Facebook won’t be as effective as it can be on LinkedIn. Likewise, you can choose the best channel for your business.
- Find Out Your Partners And Follow Your Brand’s Influencers
Influencers are followers are always much required part of any business. Hence, it’s necessary to build a healthy relationship with them. Find them and follow them on Twitter, Facebook or wherever and comment on and share their good content they keep on posting. You can also continue with publishing your own content. They will notice and if they like your content they too will like, comment, and share your content.
- Keep Your Eyes And Ears Open
Last but not the least, after you are over with all the above points, all you need to do is to listen and observe. Keep your eyes and ears open. You must know what people are talking about you or your brand.
To get to know what people are talking you should pay a close attention to your social media channels. Also, you can set up and monitor Google Alerts.
To know who is buzzing about your brand, you can use a Twitter management tool like Tweetdeck. You can also monitor number of keywords with Tweetdeck.
Apart from these, listening and observing is crucial to startup businesses because they can get the chance to address the negative things on going between the audience and retain the positive points as well. If somebody is facing some kind of problem related to product, you can solve it instantly.