5 Startup Marketing Moves That Work Even In Uncertain Times
The opinions of the co-creators are their own.
As I write, the startup world is in shambles, and the economic outlook is no better. Many companies are making layoffs, expanding initiatives, and rethinking their entire sales and marketing approach. It won't always be like this, it's a cycle, but when you go through it doesn't make it any easier. The big question every marketer asks is, "What should we do?" seems to be
Get started with these 5 startup marketing activities. They are a good foundation for any marketing strategy, even in good times, but they are especially wary in bad times. Apply them and after the cycle is over, you will find that you have surpassed your competitors.
Related : 5 Marketing Mistakes Startups Must Avoid to Survive
1. Talk to your customers!
When in doubt, talk to your customers. Why are they leaving, what do they want and what do they expect to happen in the next three, six or twelve months? Their concerns may be new to you and your concerns may not concern them. Here are some questions to start the conversation.
How does this time compare to a year ago?
Are you looking for more, less, or the same cost in this area?
What is the biggest challenge you are facing right now?
What do you think will be the biggest challenge in six months? 12?
Do you want to buy it or upgrade your account?
What's stopping you from spending money on it?
What do we do that you particularly like? What not to do?
Use these customer interviews to shape your marketing.
2. Create a frictionless shopping experience
The best customer experience removes everything between the customer and the purchase. "Frictionless" is always a good goal, but in uncertain times like these, you need to find ways to avoid conflict.
Some ideas for changing gears
Create a migration tool that allows customers to migrate their competitor data to you.
Offer something free or deeply discounted to attract people: low-level plans, qualifying, shipping, managed services, etc. HubSpot has done extremely well during the Covid-19 pandemic.
Display your product or price and control the buyer.
Get work done for customers - create templates, packages, widgets or anything else you'd normally spend time and effort on.
This way, you can turn an unpleasant situation into a good opportunity for you and your customers.
Related : 7 Free Steps to Marketing Your Startup
3. Communicate clearly and consistently
Existing companies are memorable. This is especially true in times of uncertainty, instability and crisis. The caveat is not just repeating what other people say. must run
Take a position on an issue, enrich your position and message, and get it out there. If you still don't know where you stand or don't have the information to make a decision, if there are a lot of changes, share them. Get people involved. Become a brand or opinion leader. Seeing all eyes can be a huge advantage in your sales and marketing.
4. Play more where you can
The quick reaction to tough times is to back off, but think about it: all your competitors are waiting. This is the perfect time to double down on what works. You can widen the gap between you and your competitors. So the more the course is corrected, the more power you have that no one else can reach.
You still need to be responsible for your assets. Even better if you can invest real money in projects and channels that are already working or that you know your customers need. If you don't have money, take your time.
Options that take more time than money include:
Build your presence and brand on social media
Create content for your blog and other channels
PR and Earned Media: Find media and ways to tell your story
Update existing content, website and workflow
Search Engine Optimization
Promote your community of subscribers or followers
Note: If you are under pressure to increase revenue yesterday, account upgrades and recurring purchases may be more rewarding for you. If not, invest in creating a bigger gap between you and your competitors.
Related : 7 Paid Marketing Steps to Support Your Startup's Growth
5. Control your business
The trade-off falls into the "we'll get to it later" category. Operations aside, you usually have enough firepower to destroy attempts to build and capture orders among other assets. But these moments where everyone pauses and takes stock are the perfect opportunity to review your performance and metrics, such as:
Customer acquisition costs
Customer retention and repeat purchase
Annual value or annual cost of the contract
work process
automation
Customer Profile and Path to Purchase (See Section 1)
Quarterly targets and key performance indicators
"Makes measurable improvement." Look at your trading and other metrics to see how good or bad you are, where you can improve and where you can bet more (see Section 4). Use this data to inform your marketing strategy.
Don't react too quickly
All things come in cycles. No matter how difficult the current situation is, sunny days will come when your business will flourish. Be careful not to make such rash decisions: you don't want to suffer in the long run for temporary relief. Watch your metrics, take care of your customers, communicate clearly and consistently, and place big bets. You might be surprised how good things can be for you.
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