Marketing for Start-ups
The promotional, sales and awareness building activities related to the launch, opening and initial operations of a new or start up business, service or brand.
One of the challenges that many start up business ventures face is creating awareness in a competitive marketplace with those target customers for their goods and services. Effective marketing for start up answers the questions on how will your customers first is aware of you.
Having a dynamite service or awesome product is never enough. Being smitten with what it does is both highly wasteful and sort sighted. Yes, this idea you have may be incredible; but bringing it to market is a challenge unto itself.
The surest signs your efforts will fail is if you sincerely believe that “everyone will want this.” No matter how much you feel this is true, the key to marketing your product or service is to identify who is the most likely one to make the purchasing decisions for it.
The other challenge is that your competition has one advantage you don’t. They are already in the marketplace. Your target customer may be using them without any issues or thought of the product or service. They may need a reason better than ‘faster, better, more effective, smarter or newer’ to purchase.
The other important part of a start up is that you may have finite capital and resources, and infinite wants and desires. Few start ups ever can spend marketing dollars to buy ads on the Super Bowl broadcast.
Part of your marketing plan is to have a marketing budget that effective balances who you wish to reach with the expense necessary to reach them. Also, be careful of the promises made by many ad rep's.
When devising pro forma projections, how much capital is allocated for the initial 6, 12, 18 and 24 month periods?
How can one be more strategic with use of their marketing budget, especially in the beginning?
Is someone experienced with the various options making decisions?
Budget: $19.97 per month