Top 5 Marketing Strategies for Startups
As a startup founder or entrepreneur, you have a lot to think about, but marketing should never be too far from your mind. Marketing gets your products or services out to potential clients, partners, and investors. It says who you are as a brand, and even speaks to your values as a company.
While HubSpot still ranks a business website and social media as the best channels for marketing, it’s important to know what to do with those channels. Here’s some advice that Arch Collective gives all their marketing clients: our top 5 marketing strategies for tech startups.
1. Avoid Revenue FOMO
While it’s important to market via various channels (see number 3 on our list!), focusing on the clients you want to bring to your business is also essential. Trying to grasp every chance of revenue, no matter how small or fleeting, is what we call FOMO of revenue: the fear of missing out on revenue. It’s crucial to fight this fear and really focus on the customers that will help build your new and growing business. This means identifying your target audience, ignoring the temptation to copy competitors, and considering the impact every deal could have on your overall business strategy.
Read more here: Revenue FOMO: Fighting the Fear and Achieving Sustainable Growth
2. Conduct Voice of Client Sessions
Here at Arch Collective, we define Voice of Client as a research process that collects insights and feedback from your customers on why they purchase or use your product or service and what their expectations are. Conducting these interviews allows you to start understanding how others perceive your business and, more importantly, allows you to adjust your product or service or how you market it to improve that perception. Get permission to record your sessions so you don’t miss a beat – plus, you don’t have to spend the entire session scribbling notes!
3. Diversify Your Marketing
You’ve just had a stellar Facebook campaign, with several businesses connecting and wanting to try your services for themselves. That’s great! Should you now invest all your marketing budget into Facebook? Well, we don’t recommend it. There’s no silver bullet when it comes to marketing. As a tech startup, creating an image of yourself as an omnichannel business is highly beneficial, especially when attracting investors. That means working with a highly qualified CMO to create a comprehensive, diverse marketing strategy that reaches across multiple channels.
4. Combine Full-Time Marketers with Freelance Experts
You don’t need a whole floor full of full-time marketers to achieve success. However, it’s a great idea to have a small team who are there with you through every campaign, working closely with sales reps and executives alike. Supplement these hard workers with freelance marketing experts, such as a fractional CMO, who can come in and oversee important campaigns or even tweak a long-term marketing strategy to achieve more growth.
5. Trust Your CMO
You must trust your marketing team, and especially your CMO. If you are the CEO, you may have a very clear vision of where you want your company to be. But, without marketing expertise, you have to allow your marketers to do their job and work the magic! At the end of the day, you don’t have time to be both a CEO and a CMO, so hire someone you absolutely trust for the most productive relationship and the best business growth.
Final Word
If you want more advice on marketing your product or service, book a 15-minute introductory call, and we’ll be delighted to find the right Arch Collective proposition for you and your startup.
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