Within the first four years, more than 50 percent of startups fail to survive because of their incompetence, absence of defined goals, lack of experience, or fraud. The irony is that even those companies which are thriving initially tend to lose their focus because of pride and too much self-confidence.
While running a business, the learning process never ends and the need to advertise your service or product arises even before it’s ready to be presented. As soon as you are serious about your startup idea, start talking about it and work on the elements which will make it an instant success.
Research, Research, and Research!
The laborious task of knowing the needs of the people should be your priority. You need to know whether your idea is worth it or not before you proceed. The response from a few individuals might actually help you in polishing the idea in a way that it becomes more appealing to the masses. It is after gaining insight into the demands of the customers, we can attract them through our meticulous digital marketing tactics.
Be Different Instead of Being Unique
No idea is new! The thought which just occurred to you might have already been transformed into a physical product by someone else in the industry. The trick is to gain knowledge about their execution plan and make yours entirely different and more interesting. Nullify the notion that just because McDonald’s is already an established brand, Wendy’s can’t make it big. It did without making the former go out of business.
Compare Yourself With the Rest
If you are thinking of buying a new phone, won’t you first go online and compare the different models which are under your consideration? Making use of a comparison website, you will determine whether iPhone X is what you want or if it is the Samsung Galaxy S8. When we are so careful before making a purchase, we should also act similarly while launching a business idea. Compare it with other ideas of the same nature so that we can find a strong point which will be the highlight of our digital marketing strategy.
Build a Brand With Content Marketing and Technical SEO
If you don’t have an online presence, you don’t have any at all. According to the renowned author, Seth Godin, “Content marketing is the only marketing left.” Any type of content, whether it is text, image, or video, will make its way to the screens of the people in no time, especially if you are employing strong SEO techniques for it. Just make sure to be at the top of search results and your brand will be the next thing everyone is talking about.
The Bottom Line
To show that your startup actually has some spark in it, be exceptional in all the dimensions, including market research, product development, and digital marketing strategies. You definitely need to have what it takes to be different amidst such cut-throat competition; otherwise, four years down the line, your startup will become a part of history.
Opinions expressed here by Contributors are their own.
Published June 7, 2018