New business start ups are facing challenges from each and every direction.
Unless you’ve created a cure for cancer, chances are you have lots of competitors, even before you launch. One of your biggest challenges will be to be found by potential customers, who may already be searching for products and solutions similar to yours using search engines and social networks. So how you will you stand out against the competition?
Lack of Funding
Funding is often a problem for start ups, especially when it comes to marketing. For an established company marketing should be self funding. A percentage of revenue is set aside for marketing, which is invested in activities which drive growth, which increases revenues, which increases the marketing budget, and so on. But what is a start up supposed to do, with no established revenue?
Lack of Time
Start ups typically have very few employees on day 1. And there’s a lot to do. So each team member will have a to do list as long as their arm (if not longer). Everyone will be time-poor. Everyone will be focused on sales. Marketing is seen as a luxury, and no one has the time or energy to do it justice. But a successful launch is so, so critical to the future the business. So what to do?
Lack of Planning
Probably the single biggest reason why start ups fail is poor planning. The business plan and the marketing plan need to be nailed down prior to launch, every I dotted, every T crossed. A methodical, step-by-step approach to a successful launch is essential, attention to detail paramount. So how to put together a compelling, high-impact launch plan?
Develop a high-impact marketing plan which will help you establish an online presence, build credibility and generate leads.
- Define your offering
- Do a SWOT analysis
- Define target customer
- Define business goals
- Define marketing goals & objectives
- Write a Marketing Action Plan
- Create 1-3 numerical marketing goals
- Make them SMART
- Create objectives which align to your goals
- Plan content for core web pages
- Plan content which explains the features and benefits of your product/service
- Plan content which addresses the challenges which your target customer is experiencing
- Create a marketing calendar in Excel, Google sheets or a marketing automation platform
- Schedule well new web page (or blog) content will be published
- Schedule delivery of content via additional media (including social and paid media)
- Assign actions to staff members and/or supporting agencies
- Host a weekly meeting to track progress of actions against deadlines
- Add and evolve actions as necessary