By Ann Carr
In the current economic climate, it’s likely than many organizations will be playing their cards close to the vest in order to stay ahead of the competition. This makes things all the more difficult for startups and new businesses, as the businesses that are willing to provide advice and support come few and far between.
But not to worry — we’re here to help! Here are six effective startup tips to help you grow your startup and get your business off the ground this year.
1. Choose the Right Location
Choosing the right location can make or break your business, that’s why it’s crucial that you get it right first time. The location that you choose will depend on factors such as your industry sector, budget and your product or service. It’s also important to consider access to investors and networking opportunities when it comes to choosing your location.
Innovative startup spaces for networking such as co-working spaces and shared office buildings give you the opportunity to make professional relationships and grow your business. Whereas having close access to investors can help you to acquire the funding that you need to expand your business — which is one of the biggest challenges for startup organizations.
2. Go Digital
There’s a huge world out there and a large proportion of it is now online. Taking your business online and maximizing your online presence opens a wealth of opportunities for new clients, customers and sales.
One of the main digital trends to look out for is ‘mobilification’. This involves optimizing your website for mobile users, and making sure the user experience on mobile devices is just as good as it is on desktop. This can help you to connect with customers while they’re on the move and increase your online visibility.
3. Create Demand Using Social Media
If you’re not already using social media for business, what are you waiting for? Social media can help you to grow your business, increase brand awareness and help you to connect with customers — making it one of the best tools for new businesses.
Social media is only going to get bigger and better, which is why now is the time to use this to your advantage. Use platforms such as Twitter and Instagram to create a conversation and ‘buzz’ around your new product or service. Therefore, by the time the product launches you’ll have customers ready and willing to try your product.
4. Measure Marketing Results
One of the great things about marketing is that you can measure your return on investment with ease. In order to enable your startup to flourish and grow, you’ll need to pay close attention to your marketing results so that you can see what’s working and what isn’t working.
Nowadays, almost every social media platform has analytics built into it, making it easier than ever to track the results of a campaign and calculate your ROI accurately. In addition to this, marketing softwares such as MailChimp and Salesforce are great for startups, as they can provide valuable insights into the success of your marketing efforts.
5. Produce Creative Content
Content marketing has grown significantly over recent years, and this trend shows no signs of slowing down. However, it’s no longer enough to keep producing the same-old content, it’s time to be creative and innovative in your content marketing efforts and produce new material that will catch the attention of potential customers and clients.
Fortunately, there are a wealth of options out there when it comes to the different types of content you could produce. This includes things such as:
- Blog posts
- Interactive content
- Online courses
It doesn’t necessarily matter which option you choose, however, it’s essential to produce high-quality, creative content to increase your chances of reaching your target customers.
6. Focus on Retaining AND Gaining Customers
As a startup, it’s likely that you’ll want to get as many customers and clients as possible within your first few months. While this is important, it’s crucial that you put just as much effort into retaining customers as you do attracting customers.
This is because it is significantly more expensive to acquire a new customer than it is to retain an existing one. This is due to the time, money and resources that are required to attract new customers. To save yourself valuable time and money, make sure to invest in CRM and make sure your current customers are satisfied before trying to obtain new ones.
There’s no one guide on how to make a startup company successful, as what works for one business may not work for another. However, by gaining a greater insight and reading a range of sources, you can make more informed decisions for your startup.
Whether you employ one or all of these strategies to grow your business, when combined with other skills and expertise, you’ll have all the tools you need to get your business off the ground.
Photo credit: Child with jetpack showing startup concept from Sunny Studio/Shutterstock