Marketing is unarguably essential for all businesses. However, it is even more important for startups. Because if you are new to a market, you have to show and prove yourself to the customers. People need to trust your brand for the startup to grow and attract more customers. Thus, marketing is essential for startups.
Guide To Marketing A Startup
In order to have a successful marketing strategy, the entrepreneur must first know the market well. It is important to conduct market research and understand potential customers. As the result of this research process, entrepreneurs should come up with a value proposition along with figuring out what to tell their customers about why they should choose this startup. This is the process of planning a marketing strategy. After this, the startup should start building its industry credibility. Engaging with people rather than just selling the product is one of the fundamental ways of building credibility. “With social media, it’s easy to engage your target demographic without looking like you’re just trying to advertise”1. While building credibility, it is also important to build strategies for people to discover your startup. Depending on your market, you should decide on suitable advertisements.
Innovation And Marketing
According to an article published in Harvard Business Review, business school professors Thomas Steenburgh and Michael Ahearne observed “Senior leaders have great confidence in their ability to develop innovations but not in their ability to commercialize them”2. Without a good marketing strategy, an innovative product cannot lead a startup to success. Furthermore, in addition to innovative products, innovative marketing approaches are also useful for startup success. Simply, innovation needs marketing strategies for success. This is because these strategies will show and prove the innovative product to the people; hence, the startup can gain new customers and grow.
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