Will Digital Marketing Be Beneficial For Startups: 3 Things You Must Know

Kudos to anyone who has ever taken the leap into entrepreneurship. The reality is that it is tough. It does not matter if it is a lemonade stand at the corner of the street or a venture requiring thousands of dollars in capital. You must invest time, money and effort to see some semblance of success.  

You see, there is a lot to setting up a business. It starts with the right idea, product/service and capital. Once you have everything set up, comes the critical marketing part. How will people know about your product offering if you don’t put the word out there? 

But here is where it gets really tricky. Unless you have some rich benefactors, there may not be any money to set aside for marketing. The US Small Business Administration recommends a marketing and advertising allocation of  7-8% from gross revenue. And, that only applies to those businesses making at least $5 million.  

Yet, with financing being a top challenge for startups, such figures may not be tenable. There is a solution though. And, it comes in the form of digital marketing. Read on to find out more.  

1. Digital Marketing Is Cost-Effective 

Let’s start the discussion by addressing one of the major concerns for startups, money. Financial hurdles are one of the top reasons why many businesses do not make it. The probability of allocating any percentage to marketing is bleak, at best.  

Digital marketing for startups provides a cost-effective way to reach audiences. And, don’t forget about the tons of free opportunities to create brand visibility. We are talking about:

• A company website that provides flexibility in what you can do. 
• Content generation to help position you as an authority in the industry. Relevant content will also increase traffic as you become the go-to source for information.
• Social media provides wide reach and cost-effective advertising opportunities.
• Link building for brand visibility and authority building opportunities.
• SEO for good rankings on search engines.
• In-house promotional videos, and so much more.  

Do note, digital marketing may sound quite simple. But, the team must get the basic right if you hope to see ROI. We would recommend partnering with a digital marketing agency. 

And not just any agency. Rather, one whose areas of specialization are startups. They understand the communication needs and challenges of new businesses. You get the benefit of tailor-made strategies specific to your business. Consider it an investment in your business growth.  

2. Customers Are Online

Modern customers are digital. Take a look at the following Statista report on digital shoppers in the US. In 2016, the online space had over 209.6 million shoppers. The number continued to rise, with end year projections for 2021 at 230.5 million shoppers. 

Brands are migrating to the online space in droves. They know that that is where the customers are. They use the platforms to browse, compare pricing/brands or buy.  

And that’s not all. Your competitors are utilizing the same space. It helps to know what they are up to at all times. So, your startup business cannot afford not to be in that same space. 

Pay attention to factors like mobile optimization. Take note that over 54% of online audiences use mobile devices. It would be a huge loss for your business to lose out on such traffic.  

3. Organic Strategies Are More Impactful Than Paid Ads 

Digital marketers have the opportunity to use paid avenues to create visibility. These include Pay per click ads, display ads, online banners, and so on. Do they work? Absolutely. They do play an important role in creating brand visibility.  

But, you have a more potent tool in strategies aimed at building organic audiences. Such audiences are easier to convert to purchasing customers. You want to know why? Simple, they come to you because they believe in what you have to offer.

It is all about a relationship based on loyalty and trust. It is not the typical hard sell advertising language. So, before you sink all your budget into paid avenues, consider the following. 

• Become an information source with relevant, well-researched content. Identify a gap in the market and provide answers. Understand what the audiences need and provide the right responses. 
• Connect, interact and engage with your audiences. Don’t just put up posts on social media and move on. Share, like, comment, and retweet like your life. In this case, business depends on it. 
• Utilize PR opportunities to get brand visibility. Share newsworthy content, send out press releases and editorial. 
• Use customer testimonials and reviews on your digital platforms. Who can argue with the power of third party endorsement? 
• Social corporate responsibility will get you a lot of goodwill with the community. And, you don’t have to spend large amounts of cash. Organize a cleanup, invite the who’s who, and take plenty of pictures and videos. Post such on digital platforms and encourage attendees to repost, share and comment. 
• User generated content is, well, free. And, it is a fantastic way to get people to interact with your brand. 
• Influencer marketing is still powerful. As a startup, you don’t have millions to get celebrities on board. Your best bet is in micro-influencers . They have smaller followings in terms of audiences. But, they are more available, less costly, flexible and offer a level of authenticity. The point is to get one who is in your niche, and aligns with what you have to offer.  

Final Thoughts

Digital marketing for startups has so many benefits. You get to save a lot of money, which would otherwise go into advertising. And, with the right strategies, the teams can achieve a lot. It is becoming a foregone conclusion that modern businesses must be in the online space. 

The modern customer utilizes such platforms. It makes sense to reach them right where they are. That is why paying attention to things like mobile optimization makes business sense. 

Digital marketing also provides an opportunity to build organic audiences. The chances of converting such into lifelong customers are higher. The aim is not to convince the customer to buy. Rather, it is about showing them the value of a partnership with you. 

A final word of advice, though. There is a lot of clutter and competition in the online space. Without a solid digital marketing foundation, it would be difficult to find a footing. 

Start off the journey by getting guidance from agencies that focus on startups. The investment will be worth every cent you spend.