Start-Up vs. Established Businesses
Start-up and established businesses often practice different strategies that are more effective for one more than the other. Running a start-up and an established business require different strategies, protocols, tactics, and approaches as they have different resources, budgets, and goals.
What Your Business Should Focus On and Needs Now
One of the most prominent constraints for beginning businesses is the financial standing and resources. Start-up businesses require a viable and practical strategy for generating revenue that is worthy enough for future investments and to sustain.
1. Pursue A Big Market That Has Unmet Needs
One way to make sure that your business starts off on the right foot is to pursue a big market that has unmet needs. If your offering doesn’t fix an unsolved problem, it may need to be reconsidered. Conversely, if your offering fixes a problem that never was a problem, it probably won’t be successful either. Fixing any ‘problem’ isn’t the solution to your offering.
2. Content Marketing
Nearly 90% of brands use content marketing to grow their business. Content marketing is the marketing technique of creating and distributing valuable, relevant, and consistent content to attract and acquire a clearly defined audience – with the objective of driving profitable customer actions. Content marketing is beneficial for start-up companies because it doesn’t consume a lot of resources.
However, the catch with this is that businesses need to have a concrete content strategy for content marketing to work. Without an effective strategy in mind, the outcomes may be less effective causing challenges during the implementation phase.
3. Social Media Marketing
Considering that joining social media platforms are free, social media should be a marketing tactic that your business is engaging in. Targeted campaigns on Facebook, Twitter, Instagram, and LinkedIn allow start-ups to focus on specific markets, share marketing messages, and drive inquiries. Social media marketing is a very economically-friendly strategy that doesn’t consume much, if any, of your budget.
4. Create SEO-Rich Content
While search engine optimization (SEO) services are expensive and may not be feasible for a limited budget, ensuring that your content is SEO rich is not. Creating content that is SEO-rich for your website and blogs is a simple and cheap way to drive organic SEO – which drives more traffic to your business outlets.
While these tactics are ones that start-up businesses should definitely focus on, that’s not to say that established businesses can’t do these – in fact they should. Just because a business is well-established doesn’t mean that other strategies should become oblivious to them. So, whether you’re building a start-up company or have been in the business for years, consider these strategies for your business.