The ability to produce results on a low budget is what attracts investors to startup companies. Startup companies often waste the most dollars on ineffective marketing strategies. Here's how to impress investors by keeping a tight rein on your marketing dollars without losing market visibility.
Startup companies can never have enough money for developing ideas and bringing products to the marketplace. Of course, the reality is that money is the one thing that most startups are short on. The good news is that clever startup leaders can make up for what they lack in money with what they have in enthusiasm and innovation. How does a startup with limited resources go from being a pipe dream in a suburban garage to becoming the darling of international tech investors? It all comes down to marketing. Low-budget marketing can attract serious investors if it's done correctly. The truth is that startup leaders have to look at every move they make as an advertisement to potential investors. They can never sleep when it comes to being on the lookout for investments. Here are the three things every startup owner must do to investors:
- Make them curious
- Make them confident
- Make them believe
It's All About The LeadsOne of the first priorities that a startup leader must address is how to get views on a company's website or social media pages. The bottom line is that people can't act on information that they can't see. It's important to focus on building leads by building Internet traffic. Visibility is truly the name of the game when it comes to getting investors curious about your startup. The easiest and surest way to do this is to utilize inbound marketing channels that help you target relevant page visitors and viewers.
Why Inbound Marketing Matters?Inbound marketing is a spectacularly effective way to drive traffic to your website. Inbound marketing operates using the following four steps:
- Capture attention
- Generate leads
- Convert customers
- Retain customers
Focus On Marketing Over SalesIt can be easy for startup leaders to become focused on sales numbers. However, focusing too much on sales over marketing can be like putting the cart before the horse. Marketing is the factor that will drive your sales if it's done correctly. Focus on your marketing reach and interaction levels instead of sales numbers during the early stages of a product launch. It's so important to create a sales team that is closely aligned with the marketers you hire. Your sales team should focus on strong leads that show high conversion rates. This will help you to ensure that every marketing dollar you spend will have a higher chance of leading to a sale. Your marketing plan should be so strong and specific that your sales team consistently has warm leads to work with.
Content Is Marketing's Currency
You don't have a solid marketing plan if content isn't a big part of your strategy. The reality is that content is what people live and breathe these days. Effective content should show, tell and persuade. Of course, you can't settle on just one method of producing and delivering content. Blogs, guest blogs, online videos, live video, infographics, polls and social media posts all need to have a place in your strategy. Quick tips for you to follow:
- Don't be shy about trying to become a powerhouse user on platforms like LinkedIn. This is a prime place to attract the eyes of investors looking for startups that offer the promise and professionalism necessary for success. Elevating your visibility on LinkedIn can be as simple as participating in discussions or starting your own group.
- It's also important to give your online presence a distinctive personality. The tone you use and the posture you plan to take when interacting with leads and potential leads should be established far in advance of actually launching your startup's online presence.
- Estabish yourself as a Thought leader in the market. It's important to take an authoritative stance that positions you in a spot to answer questions and solve problems. This will ensure that the customers you're targeting begin to view your brand as a beacon of knowledge and solutions. You will start to become a go-to source for knowledge and help if you play the content game correctly.
- It goes without saying that a proper online presence cannot be established without the use of proper SEO. A strong SEO strategy will ensure that your content is seen by the right people at the right times. This will lead to increased interaction and higher visibility in your niche.
Many startups actually get bogged down in costs because they try to participate in industry events and trade shows. The cost to travel to trade shows and rent booth spaces is often not worth the effort in terms of what you'll get back. Most startup leaders return home with nothing more than a few business cards after putting time, energy and money into attending a trade show. It can be far more productive to simply use your startup's website as a virtual display that demonstrates what you have to offer on a platform that can be viewed by investors around the world.
Delivering What Investors Want
Courting investors can be one of the most difficult aspects of running a startup company. The bottom line is that investors are looking for companies that have proven business models and working prototypes. It also helps if you have a few customers already. Investors are often more interested in where you are right now than in where you're planning to go. What this essentially means is that investors can't picture your startup becoming bigger if you can't manage costs at the level you're at right now. They can only estimate your future success based on your current ability to operate a successful startup on a reasonable and sustainable budget.
Building a solid budget that commensurates your marketing ambitions is very important. Investors would sure be impressed with your ability to implementing great marketing in low budget. If you are wondering what is that first step to creating an effective budget that works, download our FREE ebook and learn more.