Marketing is a daunting task for every startup since many people are skeptical about purchasing new products. This makes it an expensive investment that takes up a huge share of resources, and many startups barely have enough resources set aside for it. Creating a department dedicated to marketing alone makes it much more expensive. Without careful planning, a marketing department can bring the startup down as soon as it hits the ground. Many startups are currently thinking outside the box and are looking for ways to market their products without necessarily having an internal marketing department. Some of the embedded marketing techniques that startups are incorporating include:
1) Using a Marketing Agency
Currently, there are firms whose main objective is marketing, and startups are outsourcing their services. Since this is their main goal, they invest heavily in their marketing skills and techniques. They also have ample time and personnel to carry out research and conduct due diligence to ensure their clients get value for their money. Many startups prefer taking this route as they work with experts who know their way around the market. Many are for an integrated marketing agency to take away the marketing woes from their hands as it incorporates different marketing tactics and platforms. This helps them concentrate on other important things that help in their growth. They also customize marketing strategies making them affordable and more reliable.
2) Utilizing Traditional Media Platforms for Product Placement
The cost of getting products incorporated in blockbusters or music video costs an arm, and a leg. Startups do not have a budget for it. However, startups are opting for cheaper options such as short films and movies with small budgets. They are also going for new and upcoming artists with potential since their pricing points are considerably lower. They are banking on the artist’s potential since they are likely to increase their customer base through the increased audience and fans in the near future. With their break, viewers are likely to build confidence with the startup’s product and brand in the future.
3) Product Placement in Retail Settings
Getting a prime space in a renowned retail store or paying slotting fees to reduce the competitor’s space is too costly. Startups in competition with bigger brands are likely to get crushed if they implement these techniques. This does not deter them as they still take up smaller spaces in retail stores. The stores attract a diverse clientele, and they are likely to become potential customers. Some customers in these stores are always out searching for new products to try out, and yours might become the last new product they try out if they like it. Setting prices right ensures that these products remain competitive. Extremely low prices make potential customers doubt the quality, while high prices make the product out of reach for many. Startups are paying for space and slotting fees in local stores since they are lower than in retail stores. This increases their chances of getting noticed and, in turn, makes sales. Free merchandise for store employees and branded uniforms help create awareness and even market them. They also recommend your products to customers.
4) Utilizing Social Media to the Maximum
Social media attracts very many people, and these numbers can turn into potential customers. Very few skills are needed for social media marketing, and almost everyone can do it. The platforms allow users to post images, videos, and write-ups, giving startups room to play around with their imagination and creativity. It also allows them to share in-depth details about their product giving customers a chance to know their product better. For more viewership, they use trending hashtags as they propel these posts to the top each time. This is being done at the least cost possible as some utilize free internet and public tech spaces. Working with social media influencers has also helped create brand awareness and increase sales. They have a huge following, and from these numbers, startups get to bag customers.
5) Integrated Departments
It takes weeks, months, or even years to make sales and break-even even with a dedicated marketing department for most products. For a startup, this would be too costly to maintain till then. Employees from other departments are taking up marketing as part of their job. Those who carry out desk jobs maintain social media platforms while those who move around market the product outside the firm. Branded business cards, cards have helped startups increase product awareness. Employees wearing uniforms while away from the premises and getting branded merchandise also help sell the product out there. Some startups operated by the owners do not have departments, and the owner sells his story as a marketing gimmick.
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