So you’ve launched a new startup business in a thriving market place or you reckon you’ve created the next big thing? Great! You’ve already achieved what most could not. It’s a brave move and no doubt you’ll now have made a master plan to start making money asap.
Running your business will involve a million things that all require detailed attention. From managing products and payments to logistics, nothing can be ignored. However, many new startups overlook their marketing strategy especially if budgets are tight. But if your business strategy doesn’t include a budget for digital marketing, then you could be losing out on huge opportunities to build your brand, get noticed and quickly start selling to customers.
If digital marketing is does the right way and your precious money is spent effectively it can accelerate your business growth in many ways.
Position your new brand alongside established competitors
Many traditional advertising mediums such as TV, radio, billboards and local or national newspapers will be mostly dominated by the largest businesses in your marketplace. Many of these will have large annual budgets specifically dedicated to advertising in order to maintain brand awareness.
Traditional marketing is often also expensive and usually requires a large initial outlay in order to buy a package of ad positions. With all this in mind it can be virtually impossible for the new guy to gain traction.
With digital you can immediately grab a foot hold in any market, regardless of the competition. In addition, a great looking website that works well and provides everything you customers need can instantly give your start-up a big business image.
Using the correct digital marketing strategies you position your business alongside any other in your marketplace, it’s a level playing field for any business.
Digital marketing is completely measurable
How do you know if your marketing strategies are working?
The only way to track the success of your marketing is to measure the return you receive or customer engagements over time. Accurately tracking this using traditional advertising can be difficult.
How do you know if a customer enquiry came directly from a newspaper advert or local radio advertisement? Sure you could ask them but surely it’s better to use a marketing tactic that is complete measurable?
Every digital marketing method produces detailed statistics and user metrics so you can track each new order or enquiry back to their source.Using a whole range of analytics tools you can take the guesswork away and track your campaigns in real time. You can almost instantly know what’s working and what isn’t, and make quick changes for even greater success.
Even small budgets can produce a good ROI
For all small and new businesses cash flow can be critical. After you’ve paid all your overheads, suppliers and staff it can leave you with very little in the bank for your marketing. Earlier we discussed how easy it is to not consider marketing budgets, but the latest digital marketing strategies can be successfully utilised using even just a small budget.
Pay-per-click campaigns on search engines or social media can position your brand right in front of your target audience. Depending on your market or competition a click can cost from just a few pence and your campaigns will strictly stick to your allocated budget. Along with email marketing and seo no digital marketing strategy needs to cost the earth and you can produce a return many times more than your initial investment.