5 Proven Marketing Strategies for Growing Your Startup's Customer Base
How do you increase the volume of leads and conversions while ensuring your tech startup stays financially viable? That's the ultimate question for many founders who want to invest in marketing but aren't sure where to funnel the budget. You want to show that your business is profitable, which means getting more back for every dollar you spend. You can do this by investing your marketing budget in strategies that are proven to grow your customer base and increase your visibility in the market – which also helps attract those all-important investors.
1. Referral Programs
According to Neil Patel, 92% of buyers trust personal recommendations more than any other marketing source. Startups can harness that recognition of the power of trust to encourage their clients to spread the word about how fantastic your digital product is. Companies like Hubspot provide referral templates for free, which you can tailor around your own company brand message and, of course, the details of your product or service.
2. Create Shareable Content
The best content for marketing purposes is the stuff that gets "reblogged" over and over. Not necessarily "viral" content, but respected insights that are shared among peers within your industry and referred back to when others want information about that specific topic. Becoming the "go-to" source for info regarding your industry, whether that's fintech, insurtech, proptech, or something else, carves you a niche as a reliable expert in your field.
3. Embrace Social Media
Social media is no longer just for B2C providers. 70% of B2B marketers stated that in 2022, after using social media for 12 months, sales increased notably. Social media success comes with cohesive branding – use a tone across all platforms that matches your company's personality and values. Share more than just sales pitches: talk about your aspirations, what it's like to work at your company, employee stories, and work you do within your local or wider communities.
4. Invite Potential Clients to Test New Products and Services
If you have a tech offering that you're sure will be a big hit, why not let some prominent potential clients try it for free? You can offer something between a minimal viable product (MVP) and a complete application with key features that you'd benefit from gaining some research on. Your client feels special that you chose them to test your new offering. You gain critical user data, which you can use to improve your end product. Your tester is far more likely to sign up for the finished app or platform. Wins all around.
5. Offer Incentives
If you offer more than one tech solution, you could consider bundling your services to entice clients to purchase more or commit to a longer-term subscription. Customers who are on the fence about making a financial commitment may be swayed by the promise of a free product or exclusive access to additional resources. You could create an exclusive client area with a forum or live question and answer sessions, or access to whitepapers on a range of topics.
You could also simply offer a discount for a longer-term subscription or even a "try before you buy" trial. If you do offer a trial period, make sure your clients commit to filling in research after the trial period. That way, if they don't sign up for the full product, you can gain insights into how your tech offering failed to address their pain points.
Final Word
Growing your customer base is simpler when you employ a range of marketing strategies that revolve around your startup's core values and brand message. Stay consistent, and don't give up when something doesn't work the first time – persistence is key! If you want to learn more about getting your products or services out to the right people, book a 15-minute introductory call with the team here at Arch Collective. We'll talk you through what option might support you, from a Fractional CMO to oversee your marketing efforts to an in-depth audit of your current strategy.
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