As you congratulate yourself on beginning your entrepreneurial journey, it is time for action. Write out a solid business plan with a detailed enlistment of various strengths and weaknesses your business has, both internally and externally. This objective SWOT analysis, shows where you stand in terms of target market penetration. To get those profit numbers on time, follow these action-based strategies, curated by Pathwwway.
#1 Network Limitlessly, And In The Right Social Circles
Networking with the right people, is the quickest branding strategy for new businesses. When transacting online, use techniques like guest blogging, listing in local directories, attending webinars and social media events and the like. Email marketing is a powerful and targeted way of reaching exclusive demographics in your target markets. Publish research articles, white papers and blogs to promote informative content and then proceed to network with the engaged audience. Provide gated content in order to persuade people to give contact details for future networking. App marketing is a latest innovation to engage audiences in a distraction-free manner, through app-inboxes and chats. CRM is another great way to monetize your leads, by sending them personalized messages and mails. Building e-newsletter campaigns can be effective to draw reader attention towards your brand. If the content featured by you is interesting, existing customers will share them liberally. This can result in market share expansion by way of new leads.
#2 Use An Assortment Of Marketing Channels, But Send Out A Consistent Message
Identify the right market for your product. This is a crucial step that will determine your marketing strategy for the starting phase. The marketing budget can be optimized according to the spread and demographics of the end-users and resellers. Not all marketing methods can work in every target market. Creation of different target market personas will help in this regard. According to the requirements and needs of specific personas, tailored marketing campaigns can be created. But it must never be forgotten that irrespective of the marketing vehicle used, the message sent out to people must be uniform and consistent. In other words, this is known as integrated marketing campaign. As start-ups, you may be looking at various funding options as well, and it is important to be coherent in all your PR literature. Angel investors and venture capitalist companies look for consistency in brand message before parking their funds in your brand. So, whether it is an SMS broadcast, a podcast campaign or a social media contest that is being carried out, it is the responsibility of the digital marketer to ensure that the marketing communication is not distorted but is unified.
#3 Product Testing to check demand and optimize budgets
Freezing on the product line is core to reduce the break-even period. With a set of popular products and services, you can start earning profits in the least possible time. But such an over-ambitious pursuit can backfire if your killer product does not find any takers in the market. Test your products for their performance, functionality and market appeal. Such proactive tips from Pathwwway help you save both your marketing and production budgets. Especially for new businesses, wherein product knowledge among customers is minimal it is important to secure the buy-in of product testers, so that mass production can begin on a confident note. Testing products and services result in the offer of highly optimized solutions for the market. When the purchased products satisfy their needs perfectly, casual customers start becoming habitual and their average order value increases. This repetitive phenomenon, leads to brand placement in the required target markets.
#4 Boost Search Engine Marketing
The search engines are the first places that customers go, to find solutions to their needs of information. Not only for shopping, but also for knowledge, price-comparison, webrooming and for checking brand reliability, people flock to the Google or the Bing SERPs. The first thing your digital marketer does is to optimize your website for these searches. There are multiple online tools at the disposal of new entrepreneurs to perform quick keyword searches in their line of business. Accordingly web content and metadata can be optimized to leverage the search engine friendliness of your business. People will frequent your website only when your search engine rankings are credible. It is important to secure good rankings in third party websites that rate and rank your services. Making your websites responsive is a great way to capitalize on mobile and voice searches. As new businesses, it is cost-effective to pitch to the customers in the vicinity first. Geo-targeting of customers brings quick results through effective mobile marketing campaigns, since smartphones are increasingly being used to identify services near the customers, wherever they go.
#5 Approach And Engage The Right Influencers
The advent of marketing automation and internet-based selling, has led to the mushrooming of online enterprises by the second. To stand out and make a name for yourself, sign-up with micro-influencers. As beginners, you may not have access to exclusive segments of the target market. And even if you have access, a shout-out from trusted people, is more effective than self-promotion. There are niche influencers who promote your brand among their fans and followers. These audiences believe in the opinion, choice and recommendation of influencers. For a nominal incentive or commission, these influencers, who may be thought-leaders and action-inspirers can agree to use and showcase your product on their online media. There are high quality influencers in every field like fashion, sports, arts, lifestyle and so on, who may be approached to take up and promote your brand.
With a bespoke web design and an appealing social media presence, it is possible to break entry barriers and start earning big. Provide exclusive customer experiences and get into their good books. For new businesses, acquiring fresh clients is a challenge. Make the most of existing clients by building their loyalty. This will help in making sustainable revenues, while your digital marketing department is employing various Pathwwway recommended solutions to bring in fresh leads.