It is a given that before you start to market your startup and its products/services, you need to have a clear marketing strategy. You will need to spend some time to define the customer segment you are targeting, know the first – early adopter – clients you will go after, identify the problem you solve for them and describe how your solution is better than your competitors. The process that startups with a modest (or no) marketing budget generally need to follow is:
Get the first reference customers
These will be the early adopters who are willing to work with you. This has to be the first priority of every startup even if you have to offer free trials, generous discounts etc. This is not the time to worry too much about profit or business ratios – this is the time to get some references. These early clients will become your testimonials. These will in fact become part of the main marketing message you transmit.
Learn from your first customers
Any marketing messages you dream up in the beginning are almost always going to be off-target. Use the learning from customer interaction to refine your offerings and the associated marketing messages.
Leverage free or low-cost marketing
This includes things like free email marketing tools, search engine optimization for your website, running an interesting blog and utilizing social media like Facebook. Facebook advertising is a much lower cost solution than print advertising and can get you some degree of visibility on a shoestring budget.
Build a network
You may want to consider working with partners who can provide credibility, access to certain clients or locations that are outside your reach. Partnerships that allow some sharing of costs and risks is what startups need to get the word out.
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