Marketing Strategy For a New Business

You have a new business, which is exciting, but also a little scary. Your new business is a blank slate, which means endless opportunities. There are a number of ways that you can begin marketing your company. Again, that’s really exciting, but also overwhelming. Where do you begin? What’s the best route to take? What the heck do all of these acronyms mean?

Luckily, with the right marketing strategy for a new business, you can focus more on filling this blank canvas with imaginative ways to generate interest and new customers for your business, while experiencing less fear and anxiety about the unknowns of the future.

Part 1: The Must Haves

There are some essential components to a marketing strategy that your business must have. You cannot successfully market your company without them.

A Plan

You absolutely need a plan. Can you market without a plan? Yes. Will your marketing be effective? Definitely not. You may already have a marketing or business plan prepared. That’s a great start. When it comes to marketing, here are the key details that your plan needs to cover:

• A Goal: Why are you marketing in the first place? There are a lot of benefits to marketing: generate new customers, increase revenue, build brand awareness, etc. They all sound great, right? You should have a clear idea of what your business needs most right now. As a brand new business, your goal shouldn’t be to increase revenue, at least not yet. Instead, you should be thinking about building brand awareness and acquiring your first customers.
• An Audience: Who are your marketing to? You should have a solid vision of who your target customer is because you want to direct your marketing efforts towards this audience. You need to know what motivates them and what they care about and use these to guide how you approach them through marketing.
• A Budget: How much do you want to spend on marketing? As a new business, you may have a small budget, or even no budget at all. That’s okay! There are ways to market your business that don’t cost anything but time and effort! Knowing where your budget stands will help you select the best strategies for your business.
• Competitors: In order to know how to approach the market, you need to know who your competition is and what they are doing. This gives you insight into what’s available on the market and how to position yourself to gain a respectable share of the potential profits. You need to have an idea of how to stand out!

A Website

There are still plenty of businesses that “get by” without having a website. But, that’s not really the promising outlook you want to have for your new company. You don’t want to “get by,” you want to thrive and prosper, right? Then, you need a website. It’s just inescapable in today’s Digital Age. Plus, free-to-use website builders offer DIY web design, which means cost is no longer an excuse to put off building a homepage for your business.

Businesses that lack a website only get by because they don’t benefit from the numerous advantages of having a website. Not only do today’s customers expect that you have a website, but they will also use your website to answer important questions and reach a purchasing decision.

Even if your new business is focused on attracting local business, these nearby customers will occasionally use your website to see where you are located, hours of operation, etc. Its value is too high to ignore!

Part 2: The Should Haves

The following tactics are important to include in your marketing strategy for a new business. They will help boost your business in different ways.

Social Media

Developing a social media presence has become a crucial marketing task. It’s almost on the same level as having a website! Social media is where many consumers interact with new brands for the first time. As a new company, this is key! No one knows your business yet. Social media is perfect for getting the word out and letting people see what you’re all about.

Social media channels are also the first place customers come to share their sentiments about a brand or product. In the early stages, it can be a great source of feedback to help you refine your business and achieve better results.

Blog

A website is only good if people can find it and use it, right? By routinely creating blog content, you improve your site’s visibility in search results. And, you add to the value of your site’s experience. Effective blog content can engage audiences and keep them on your site for longer. The longer they interact with your site and its content, the more likely they are to convert!

Blogs can be helpful to audiences by resolving their biggest problems and questions. In turn, this allows your business to improve its brand reputation by showcasing your expertise and experience in the field!

Part 3: The Optionals

Finally, there are hundreds of optional marketing tactics. You can create an effective marketing strategy without them. However, each one has its own value to add to the mix. To get you started, here are some of the popular options.

• Email: Everyone has an email address that they check multiple times throughout the day. It’s the new form of sending out physical mailers!
• Paid Results: Search engines, social media sites and many other places offer the opportunity for marketers to pay to place sponsored messages. It’s not too expensive and you can get your business in front of new audiences.
• EBooks: Think of it as a much, much longer blog post. It really can show off your expertise and you can attach an email sign-up to enhance other areas of your marketing!
• Referral Marketing: Word-of-mouth is the oldest and most potent marketing strategy. Empower your word-of-mouth marketing with a referral program!
• Video: Websites like YouTube are among the most popular on the Internet because people love video content! If you’re good with a camera (or your smartphone), you can create effective marketing videos that stir up interest.

Conclusion

Ultimately, your marketing objective is to build a buzz and garner interest for your business. To do so, you definitely need a plan and a website. After that, focus your attention on social media platforms and developing a blog. Then, you can begin exploring the many peripheral marketing tactics.

Whenever you explore a new marketing opportunity, always evaluate whether it will help you reach your goals or not. This will ensure that your business stays on the right path towards success!