In today’s world of cut-throat competition, a startup has to promote itself in such a way that it can stand out. Many startups and SMEs don’t have the necessary resources to create an effective and strong marketing and promotional campaign for their businesses and they ultimately lose even the potential customers. At this point, branding strategy becomes essential as an integral part of a growth plan for any startup business.
We all know that every customer is not loyal to your brand or product. So why should they? You always look for something better than what you already have, right? Customers hardly get convinced by your products once they find out about alternatives available in the market with easier price tags or those which offer more features at same prices. So you definitely need to build a strong brand name which will enable you to retain your customers and enhance their loyalty.
According to Peter DeCaprio this strategy is especially important for startups as they lack the resources and experience in this sector which makes their journey of promotion and marketing tougher than it already is. But with some ‘Right Kind of Strategy’ and Right set of tools, even businesses with limited resources can make an impact on customer mind-set.
Your Branding Strategy should always include:
1. Product Positioning
You need to position your product centrally (i.e. as core focus) to reach the maximum number of customers across different segments. Highlight those features that set apart your products from those offered by new players in the market.
2. Develop New Products or Services with an aim to Enhance Existing Product line
If you are running any business, there must be multiple products available for your customers that can serve specific needs of different types of audience. You need to focus on building new products or services that will enhance the product line of your business.
3. Target Audience
Your target audience is one of the most important factors according to which you should decide about your promotional strategies. It doesn’t mean that all marketing activities will have the same impact on all customer segments so it’s essential that you identify separate sets of plans, messages and strategies for each targeted group separately.
4. Know Your Competition
For every industry, competition exists whether they’re big players or small startups but knowing them inside out lets you improvise your strategies and plan them accordingly. You can also know about technological developments in the market and make appropriate changes in your product and service offerings accordingly to retain your position as a leader.
5. Brand Name
Branding begins with a brand name which should preferably be short, easy to say, spell and remember. It shouldn’t be similar to that of any other company or startup operating in the same industry as it may lead to unintentional business collisions. Your logo should be such that the maximum number of people can remember it at first attempt so you need to keep it simple but eye-catchy. For more effective results, you may include the name of the founder’s along with the brand name because customers relate better with a person rather than just a company or group.
6. With an aim to Promote Brand, You can Use Following Tools
- Social Networking Sites
- Newsletters & Emails
- Search Engine Optimization (SEO)
- Paid Advertising
- Blogs & Articles
7. Digital Marketing
Digital marketing is cost-effective and the best way to promote your business/brand online by reaching out to the maximum number of customers worldwide. You can promote your products or services through social networking sites like Facebook, Twitter, and LinkedIn etc. Organizing live webinars can also help you connect with the maximum number of people in the shortest possible time.
8. Offline Marketing
Offline marketing is still effective and comes with various ways of promotion like seminars, trade shows, workshops etc. These events give you a great opportunity to interact with potential customers and let them know all about your latest products or services. You can also go for print ads but these days their importance is on the decline.
9. Use of Email & SMS Tools
These days, a maximum number of people use email as a mode to interact with friends and family members so you can also try your luck by sending bulk emails or newsletters to your customers. You can even send personalized messages depending upon their interests and/or geographical location. Along with that, you need to use various mobile applications for this purpose and engage them on a more personal level which will help them connect better with your brand.
10. Social Media Marketing
Customers these days follow brands through social media platforms like Facebook, Twitter etc., where all discussions take place regarding products or services offered by any company or startup. So it’s important that you create dedicated pages for your company or brand on these sites and market them accordingly to attract the maximum number of customers.
As an advanced showcasing specialist who has confronted a decent amount of hardships, I have seen that numerous independent companies and new businesses face difficulties that bigger, more settled organizations don’t constantly need to manage – particularly with regards to marking. Laying out a brand is hard enough when you have a wealth of assets, however with independent ventures and new businesses, it can turn out to be significantly more testing a direct result of financial plan and time imperatives, among different reasons.
In any case, I’ve discovered that regardless of how little your organization may be, the key advances engaged with brand building are to make your image critical and to keep up with consistency. It’s significant that you consider how individuals will see your business. The following are a couple of procedures independent ventures and new businesses can use to assist with making these characters:
One of the most vital aspects of getting a new venture off to a good start is the branding and not just colors, fonts, and so on, but the strategy behind every branding decision you make. As an entrepreneur myself, I can vouch for the importance of strategizing, rather than a scattershot approach! Of course, newcomers to the startup world may not have a solid grasp on this.
Here are four branding strategies that every startup founder should know going in.
What was inadequate? Commonly, the originator and marking group failed to exhibit a quick worth to the expected client. A client that is wavering about evaluating another brand can frequently be influenced by a special angle. That could be anything from an unconditional present to a rate off their first buy and then some. The fact is that it adds additional driving force to their thought of you as a newbie.
Past that, nonetheless, there are different perspectives to advancements that can improve this marking methodology. In particular, marking your advancements. As we probably are aware, marking isn’t just with regards to the visual angle – it’s with regards to the experience, the qualities, and other more theoretical things. So when I say “brand your advancements,” I mean something other than stepping your publicity with your logo.
Guarantee that your advancements fit the soul, reason, and upsides of your startup. Furthermore there’s no need to focus on only the underlying buy from another client – you need to assemble a recurrent client base. Picking an underlying advancement joined with a dedication program is a great two-for-one marking procedure that can interest your crowd and make everything easier down the buyer’s excursion.
Here are some of the most important digital marketing tips that you should always keep in mind while launching your next promotional campaign. If you are looking for digital marketing services then there are many companies available in the market but I would like to recommend you to eRank Solutions they are doing such great services for their clients.