Marketing a brand-new company is a serious challenge. It's hard to convince people to use your product or service when even you're still figuring everything out. However, as soon as you have your business model established, it's time to start spreading the word. Bringing in your first customers and clients may be a struggle, but if you do it right your efforts can have huge returns. Your satisfied customer starts talking to other people, and before you know it you have a growing customer base. Here are five steps you can take to make the most of your early marketing that won't ask too much from your budget:
1. Understand Your Audience
Knowing who you're talking to is a vital part of marketing effectively. Everything from the voice you use to the way you reach out will depend on who you're trying to talk to. If your target demographic is tech-savvy millennials, your marketing strategy is going to be different than a company reaching out to retiring baby boomers.
Establish your audience, and investigate what that group responds to best. Use that information to build your marketing plan, and to strengthen your investment pitch.
2. Email
The impact of email marketing absolutely cannot be overlooked. ExactTarget.com reports that for every dollar spent on email-based marketing, companies get back $44.25 on average. That's a huge return on investment, and it makes building an email list totally worth it.
However, sending out emails isn't enough: You have to back those email up with quality content. If your company has a blog, consider populating your emails with relevant articles. You can also use emails to let your customers know when you're having sales or to offer them exclusive discounts.
3. Pitch to Local Publications
Don't be shy: Now is the time to brag to local publications looking to talk about up-and-coming businesses. Do some research to see which writers in your area cover new and local businesses. Once you have a list of names, prepare a pitch explaining why your company should be on their radar. Include any links you have to more information available online, and be sure to add in your contact information so they can reach you with any questions.
Press begets press, so if you can get one publication to take notice odds are good more will follow. These articles will catch the eye of potential customers, and give you something to point to on your website.
4. Coupons
People love to spend less money than they were expecting. Giving your customers coupons will increase the chances that they'll check out your product. You can do this through email marketing, or by adding your business to coupon books. You can also put a coupon on your business cards, so anyone you hand them to will have an incentive to follow up.
5. Networking
Talking to people is one of the easiest and most beneficial things you can do for your new business. Word-of-mouth is invaluable, especially when it comes to companies just starting out. Take advantage of networking opportunities to meet important figures in your industry. These people may be able to give you customer referrals, or send your information along to a game-changing contact.
This will also help establish you as an expert in your field. You want to be the person who pops into someone's head when they think about the service or product your company provides. By making connections, you're more likely to spring to mind at an opportune moment. Talk to as many people as you can, but be sure the connection is meaningful: Always give your elevator pitch so that the person understand what you bring to the table.