Author: Rohan Ayyar / Source: Marketing Insider Group There are new brands popping up every day trying to compete for consumers’ valuable
There are new brands popping up every day trying to compete for consumers’ valuable attention. As a startup, you will more than likely be fighting an uphill battle in terms of budget and resources. In turn, there will be a lot of pressure to break the mold and show how you are truly unique.
According to stats published by the SBA, 78% of startups survive their first year, but, 95% fail after five. Even though there is an uncanny amount of brand messaging and content on the web, there are many things you can do to prove that your startup is here to stay. Regardless of the industry in which you are looking to make a name for yourself, there will always be innovative approaches to bring new value and connection to audiences.
Build Hype in the Months Leading up to Launch Day
If the old saying “prior planning prevents poor performance” is true for anything, it’s startups. Chances are, you’ve been prepping for months – or even years. When the day comes that your brand hits the market, building hype beforehand is crucial to ensure your operations start off strong.
The success of Starbucks VIA Instant Coffee was in a large part due to its extended pre-launch campaign and involvement of people in tasting tests. The campaign wasn’t just digital; they also ran a print ad:
And they stuck steadfastly to their plan, inviting over 4 million people to taste their product over a period of two years, at the end of which Via became the 5th best-selling instant coffee in the U.S.
If you plan on producing a good deal of content once you’re up and running, your goal should be to get as many people to sign up for your newsletters and promotions as possible. A great way to do this is by offering a bit of incentive in return for email addresses.
Agreed, you might not have Starbucks’ budget, so a cheaper and leaner alternative to large scale advertising would be to hold giveaways on social media or other popular platforms.
This will do a lot to build rapport with potential customers early on, while keeping costs low. If you offer a prize, be sure it is something that holds true value. For example, depending on your business, you could offer things like a free trial or discount code for your product, access to your research, or free tickets to an industry event. Just be sure it appeals to your entire target demographic and has the potential to draw traffic to your site or app.
At the end of the day, you only want to release small tidbits leading up to the launch. The trick is giving out the perfect amount of hints and details, without killing anticipation.
Become a Thought Leader
One of the main hurdles to getting a startup off the ground is establishing a high level of credibility and showcasing expertise. Doing so can open a number of doors for further business growth. Even though many startups strive to achieve leadership in their fields, few…
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