Competition in the startup arena can be, well as Beyonce puts it, fierce.
Everyone has an idea that’s going to change the world. Whether it’s a foolproof value proposition or a brilliant plan to get their company to become the next household name. But when your startup enters that arena, you’re another competitor among thousands – even if your startup idea really is the next best thing since sliced bread.
Differentiating your company and getting the attention of consumers and investors can seem like a daunting task. Especially when others have already staked their claim on parts of the market. But when you really want to stand out as the next big thing, marketing can make all the difference.
TWO TYPES OF MARKETING
There are two markets that all startups have to keep at the forefront of their minds to succeed in their business: consumer and investor.
What it comes down to is that consumer marketing is the backbone of every startup company’s marketing strategy. No contest. Every startup has to know from the beginning who their target audience is, what problem they have, and how to prove their product or service is the best solution to that problem. Once startups have these concretely defined, marketing and creative strategy can begin.
Using creativity in consumer marketing can present a wide variety of creative strategies. From Dollar Shave Club’s plain-spoken value proposition to Lyft’s fuzzy pink mustaches, marketing is only limited to what you can dream up and what speaks to your audience. Keep in mind that consumer marketing is about how your startup can solve a consumer problem right now.
Now investor marketing – that takes a different approach.
If consumer marketing is the backbone of a startup’s marketing strategy, investor marketing is the muscle. Marketing to investors is difficult if you haven’t already marketed your idea to consumers, just as muscles strain to move without bone to support them.
You have to do more than prove your product is the best solution. Catching and keeping investor interest involves showing your current profitability and how you plan to expand that profitability. Viable business plans, marketing that can grow and change with your company, and metrics that can back this information up are crucial to successful investor marketing. Marketing to investors means marketing future success and their future returns.
DOMINATING THE STARTUP ARENA
A startup should put both consumer and investor marketing plans in place. Once they do that, they’re already positioned to come out way ahead of the pack. When it comes down to it, marketing is telling people exactly how cool you are in the coolest way possible. Of course, great marketing isn’t a one-way ticket to success. If you offer a bad product or service, this is the core of your business and marketing won’t change that. However, if your startup has the next idea that’s actually going to make an impact, great marketing can catapult them into success that much easier. To make it even easier, start with MAKE.