In Startup companies, given the limited resources, your goal is to lay down a solid marketing foundation and create relevance to your target customers in an efficient manner.
1. Research and identify potential markets
Launch your minimum viable product to test your business idea within and outside your circle. The best way to do so? Utilize the feedback you get for you to identify who your customers are in order to hit the right product-market fit.
2. Use SMART goals in business strategy
Think and act SMART – Having Specific, Measurable, Attainable, Relevant, and Timely goals will help the company have a direction to attain success. Think of growth in the right direction.
3. Attend events or exhibitions
Make it a habit to attend events or exhibitions to meet like-minded people and gain ideas from industry leaders where you can build your own network. You can connect with organisations who aim to bring those people together like Leuven Mindgate, Jong Voka, LE(J)ON, The Bar from Raccoons, etc.
4. Invest through Social Media
The key to boosting brand awareness is community engagement thru social media, involving a good understanding of your target audience. Startups can utilize social media as a tool to target the right demographics and generate brand buzz. For instance, in France over 5 million TikTok users fall within the age bracket of 13 to 17 years old, making it the ideal platform for targeting a younger audience.
5. Build and establish a credible reputation.
Positive brand reputation takes months or years to build, but mere seconds to lose. Think of it as your brand identity which can differentiate you from your competitors. A good reputation leads to good branding which in turn attracts potential customers.
6. Reward your customers
Now that you’ve built your customer base, it is important to make sure that they stay. You can build and strengthen your relationship with the customers by investing in a good customer relationship management (CRM) tool like Hubspot, Salesforce, Zoho, or Airtable, where you can store and analyze customer data to reduce or eliminate churn rate.