How Your Startup Should Spend Marketing Dollars
Starting a new startup? This can be an exciting and overwhelming time. With all the plans, no doubt budgeting is on the top of your list.
One item most neglected for new business budgets is marketing. Often, this is considered a luxury. Not so, if you want to your business to grow. Sharp business owners understand the importance of bringing customers to their door, literally or figuratively.
It is no longer true that “if you build it, they will come”. Actually, that was from a movie, and probably was never totally true. If you want to be seen and/or heard, marketing dollars will need to be spent – wisely.
Yet, startups don’t typically have the funds for a huge marketing splash. So, what do you do?
Plan. Start small and as interest grows, you can afford to add more dollars to marketing to create more attention. That’s a nice cycle to encourage.
Budget. Seriously consider the marketing expenditures. Perhaps, you can only start with $200 a month and hope to double that in a year. That’s fine. Whatever the amount, spend the dollars efficiently.
Try one or several of the ideas listed below to see what works best for your industry.
Media pro. If you are opening a restaurant, or a unique specialty business, it may be worth hiring a publicist who can get you in front of the news. Media loves unique concepts when they can be first to introduce it to the public. Publicists know who to contact and how to present your new business with the best splash.
Conferences and Trade Shows. If your customer base has to do with a particular industry, a booth at a trade show or rubbing elbows at a conference may be valuable. If networking and handing out business cards will get you calls, that can be a great first step for developing long-term business connections. If your budget allows, be a sponsor and get your name seen.
Social media expert. Most business owners do not have the time or expertise to handle much needed social media. You could likely hire a kid, but better to hire a professional. For a couple hundred dollars a month, introducing your company or keeping in contact with your audience can stir up positive attention.
Build out your content. Hire an experienced writer who can keep your site updated with blog articles and other strategic content. Position yourself as an expert in your field. If you sell pizzas, why are your pizzas the best, and why is your business the one that understands the delicate mysteries of pizza baking? People love information if the topic is compelling. A great writer can make even the most boring topic intriguing.
Mobility. Be sure your website is mobile-compatible. As the world moves more heavily into smart phone advertising and shopping capabilities, be sure your company is ready. IT development is required for this, especially if you have a shopping cart function on your site, but you will also need someone who can keep up-to-date on the growing marketing opportunities for mobile devices.
