Tips for Developing an Effective Marketing Strategy for Startups

It can be overwhelming to learn marketing in a startup environment. Marketing can often get overlooked because of the amount of work involved in starting a business, creating and launching products, as well as running day-to-day operations.

Even more difficult is the fact that some industries are traditional or boring, making them harder to market than those with innovative, visually striking, or exciting products. A niche audience will appreciate 2-layer vs. 4layer printed circuit boards.

It is possible to market in boring industries and it can be very effective. Many owners in boring industries have the same problem as you. They struggle to develop a marketing strategy and give up. You are left with a competitive advantage.

These are the top tips to help you create a successful marketing strategy for startups within boring industries.

Choose your Market Audience

Your marketing budget will be stretched thin if you don’t want to reach everyone. Before you can create a marketing strategy, it is important to understand who you are marketing.

You have probably a good idea of who your target audience is and with whom you would like to do business. But what about the rest? You have a solid idea of who you want to do business with, but how deep have you gone to find out the details about your ideal buyers and audience?

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Buyer personas help establish your ideal customer. Personas are fictional representations or ideal customers. They are created using current data, existing customers, and marketing research.

There is also a bit of assumption that is based on education, experience, and knowledge. These buyer personas can help you understand your business’s challenges and identify the drivers of your ideal customer.

These personas don’t exist. These personas are archetypes of real people who represent the various buyer types you want to target. This information can be used to improve your marketing strategy and messaging in order to reach different segments and connect with buyers at the right place and time.
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Make sure your brand caters to your market audience

Once you have a clear understanding of your target audience, you can build a brand that speaks to them. Contrary to popular belief a brand is not just a name and logo that differentiates you from your competitors. It’s also the impression you leave with the customer.

Brands use logos, colors and fonts to achieve their goals. Your brand needs to be consistent. It’s important to create the mood you want to instill in your customers and then use it to guide the rest of the brand assets.

You can then:

Choose your focus and personality

Brands are not all-encompassing. So, focus your attention on the brand and build your personality around it.

These are some questions you might want to ask:

• What is your unique value proposition?
• What words would you like people to associate your brand with?
• Write a complete description if your brand were a person.
• Which descriptive metaphors would you use to describe your brand, so that clients can find it?

These questions can help you to define your brand and create assets that convey that message.
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Select a brand name

Although you may have a name already for your startup, if you don’t or don’t like it, now is the right time to make some changes. Your brand name can impact your marketing, logo, and domain.

You want your name to be difficult to duplicate and confusing with other competitors. A broad name can also be helpful if you are planning to expand your product line in the future.

These are some ideas to help you develop your brand.

• You can make up a new word just like Pepsi when he tried to take over Coca-Cola
• Name any concepts or unrelated words
• You can use a literal description such as “The Cabinet Warehouse”. This is easier to copy and confuse than other brands.
• Use a metaphor like Trojan, buffer.
• Modify, remove, or add letters to alter an existing word (Tumblr).
• A long name can be created with an acronym (HBO or DSW).
• Combining two words (Snapple + snappy) will result in a new word.

Keep in mind that you are responsible for your Your website’s domain can also be affected by your brand name Compare your brand names to the available domains.

Ask around to your family and friends about what they think of the name. It’s possible that you won’t notice an unintended meaning or misinterpretation of the name, so it’s better if it is pointed out before investing in your other assets.
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Write your Slogan

Your brand can benefit from a catchy slogan. You can tell customers what your brand is by using a short statement on your website header, business cards or any other place you wish to make an impact.

Slogans are an aspect of your brand that is easy to change and develop. Many slogans have been used by large brands over the years.

A great slogan should be short, catchy, and bold, with the hope of being associated with your company.

These are some ideas for your Slogan

• Claim your unique value proposition (Death Wish Coffee: The World’s Strongest Coffee)
• Embody the attitude of your customer (Under Armour: The Only Way is Through)
• You can use a metaphor (Chevrolet, “The heartbeat America”).
• Embrace labels (“Cards Against Humanity”: “A party game that is only for terrible people”)
• Describe your product in detail (Aritzia “Women’s fashion boutique”)

Choose the Fonts and Colors that best represent your brand

Your brand has a name and personality. You can use colors and typography for your logo, website and social media pages. You should use the same colors and typography for everything.

Choose colors that aren’t too similar to other palettes. This can cause confusion for customers. Consider legibility as well, like whether your color palette will be easily readable in black or white.

You can do the same with fonts. Simple fonts are generally better because customers will be able to read them even if they’re overlaid by complex video backgrounds. Customers may be confused if more fonts are used.
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Create your brand logo

Brand logos are often the first thing you think of when you hear the word “brand”. They are the face of your company, and will be used on almost everything.

You want your brand logo to be distinctive, identifiable and scalable. It should also work well in small and large sizes. Next, consider all the places you will have your brand from your website to social media profiles.

A word logo is used by most brands. An abstract logo like Google is used by many. The Google word is recognizable by everyone. The colors in the abstract circle format are also easy to identify.

Google also used this color and design recognition to market its other products such as the yellow triangle for Drive, star for Photos and teardrop for Maps.

Also, you can think about mascots (Wendy’s), symbols (Starbucks), icons/Twitter, and combinations (McDonald’s).

Create your brand

Now that you have all the assets of your brand, it is time to create a brand story. This will tell customers who you are, what you stand behind, and what you hope to achieve. This story will be the foundation for all interactions your customers have with your brand.

These are some questions you might want to ask:

• What was it that motivated you to open the business?
• What is the purpose of your business?
• What do you hope to solve?
• How did I get my business started?

Whatever your story is, highlight its humanity and uniqueness. Customers are interested in the human side of a business. Tell your story about your unique mission, how you overcame obstacles, and what inspired you to start a company or product.
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Establish a digital presence

Customers expect businesses to be online with so many people moving to digital. Even if your business is primarily conducted in a physical location, customers are likely to search your company online to find out more about your brand, customer reviews and other offerings.

This doesn’t just apply to clothing and retail brands. It also happens at local restaurants, boutique hotels and community banks. What about your boring, traditional business? People also want to find you online.

Customers will also leave reviews and share their experiences online regardless of whether the brand has been present. It’s like word-of mouth advertising but on a larger scale.

A website is essential to get started. Your website is the most important place customers visit to learn more about your business. There are many DIY websites that can help you create your website. You also have the option to hire a professional to design it.

Next, create your social media accounts. If you are a young business owner, a presence on social media is essential. Social media allows you to share content with customers and engage them to build trust and learn more.

It’s easy to set up social media accounts. It’s important to start with the most popular platforms. You can then create business profiles that include your website link, logo and tagline. Then you can share videos and other content. You’re now ready to advertise when it comes.
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Make a budget and stick to it

Marketing spend can quickly spiral out of control if you don’t pay attention. You may be able to justify every dollar spent on advertising as an investment. This is particularly true for startups. Startups are more likely to face unexpected financial difficulties than legacy businesses.

To prepare your marketing strategy, you will need to have a budget. Here are some tips to help you create a marketing budget that works for your startup.

• Take a look at the bigger picture. Marketing budgets are important at all stages. However, you will likely spend more when you are starting to scale up. You’ll invest in brand assets and awareness campaigns earlier than when you start to gain traction.
• Make a spreadsheet. Include all of your operational costs (professional fees, content outsourcing and sales tax) and any anticipated future ones. This will give you an overview of your marketing budget.
• Prioritize your spending: A professional logo and website design are worthwhile investments. Don’t spend too much on everything. Instead, focus on the most important investments and then look at what you can do with campaigns.
• Set limits: Don’t get carried away! Be realistic about your marketing budget. You need to keep it within the limits.

Set SMART goals and track your progress

SMART goals can be described as Specific, Measurable and Achievable. They are Relevant, Time-Bound, and Specific.

One example of a SMART goal is to:

• In a year, increase organic traffic by 40%
• In just four months, create ten sales-focused blogs

These goals can be achieved, and they are achievable. They also have a time limit and a set amount. Your startup will have a clear direction for how to develop its strategy.

It will also help you to see if your efforts are succeeding in achieving your goals. You can adjust your strategies or campaigns to achieve better results if they are not.

Startups also have unique advantages from SMART goals. Many employees have multiple responsibilities in startups. For example, founders might be responsible for content and digital strategy. The chief technology officer may also be responsible for website design, management, marketing, and other tasks.

Most startups focus on product development and launch. This is where SMART objectives come in. Instead of trying to do everything simultaneously, SMART targets allow you to concentrate on mission-critical goals while tackling tasks with a strategic approach.

You can, for example, focus on product development and SMART goals when launching a new product.

• Ten pieces to create awareness and interest about the product by a certain date
• Five placements in digital media via digital PR are available by a certain date

It’s not expensive to implement such initiatives. The best thing is that it takes very little time and effort.

Begin small and regularly check in on your progress and goals. If you aren’t getting the results that you desire, you can tweak your strategy and campaigns to improve your chances of creating more successful efforts in the future.
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Start Your “Boring Startup Strategy”

Although marketing in boring industries can be more difficult, it is not impossible. These steps will help you develop marketing campaigns that increase awareness and promote your startup.