One of the main reasons why only half of the startups in the US survive five years or longer is poor marketing strategies. Startups need to set aside funds for marketing from the get-go to be able to build a strong brand in their early stages. However, while having a marketing budget is important, knowing where to spend it is equally as important.
With a considerable chunk of the US population using the internet regularly for multiple purposes, many startups are adopting digital marketing strategies like social media marketing, email marketing and websites, as opposed to the more traditional forms of marketing like TV or radio. While traditional marketing is still effective, startups are better served by digital marketing, as it helps them connect to their audiences like never before. To be successful in digital marketing, there are some things you must consider.
Create a realistic framework
The first step of a successful digital marketing strategy is mapping out a clear plan. There are several ways you can do this, including content mapping, editorial calendars, and timelines. The important thing is for you to establish several ideal outcomes while leaving room for uncertainty.
You want to do this based on various key performance indicators that are related to your business goals and strategy. Without these indicators, you may veer off track and fail to make it to the end goal. Try to keep the process as simple as possible so that everyone on your team stays focused.
Define your budget
You need to come up with a budget for any digital marketing campaign you intend to launch. While this is one of the most important steps of an effective marketing strategy, it is often overlooked by many marketers. But, if you take the time to set a realistic budget based on your end goals, you will be saving yourself from a lot of stress in the future, especially when it comes to choosing where to launch your digital marketing campaigns.
For example, your budget will dictate whether or not you can afford the services of a digital marketing company, the types of adverts you can run, the types of platforms you’ll use, and for how long you can keep running the adverts.
Work with a reputable digital marketing agency
Digital marketing is not something you should do on your own if you want it to bear maximum fruit. Your best bet is to work with a reputable digital marketing company with a proven track record to deliver the results you need. A great way to find an ideal digital marketing company is by looking at how they market themselves.
If you like their website and find it easy to navigate, that’s a good sign that they know what they are doing. You can also check out some of their past work and reviews from some of their previous clients to get an idea of what to expect.
Focus on user acquisition
Working with local teams can help you target the correct audience. For example, if your business is based in California, working with digital marketing Santa Barbara specialists will help you come up with a user acquisition strategy that works well in the area.
Unlike marketing, which focuses on getting your products out into the world, a user acquisition strategy is designed to acquire more users for your products or services, increase sales, and boost your company’s bottom line. A good user acquisition strategy is a valuable asset to your business; the data obtained through testing, optimization, and analytics is something you can use throughout the life cycle of your business.
Know where to launch your campaigns
There are many digital marketing channels available, and not all of them will be suitable for your business. You need to launch your campaigns on the platforms that will get you in front of as many potential customers as possible.
For example, if you are interested in marketing a product to teens, you have more chances of connecting with them via Instagram ads as opposed to Facebook ads. To know which strategies work best for you, you need to continually monitor and optimize your campaigns, making decisions based on real data and not your gut feeling.
An effective digital marketing strategy is one that appeals to your specific target audience and helps expand your business’ online presence and overall growth. No matter which strategies you use, be consistent in meeting your target audience’s needs and interests so that you can connect with them more easily and convert them into loyal customers.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.