When you see a mom and pop business become a Fortune 500 company seemingly overnight, you may begin to wonder how they did it. If you have an innovative approach to solve a previously unsolved problem, maybe you are in the early stages of launching a start-up. Could you be on the path to fame and fortune? Or, are you going to have to battle to stay afloat? If you are trying to get your business off the ground so it can be a success, these tips below could help.
Invest in Long-Term Brand Awareness
Source : www.emotivebrand.com
You are most likely sticking to a strict budget in your first year of operation. However, make sure you invest in a long term brand awareness strategy. Whether you are considering signage design, setting up your social media or purchasing promotional products and corporate gifts, ensure that your brand is consistent and recognizable.
A strong brand is the first step towards shaping people’s perception of your business. As you grow, your brand will become one of your most valuable assets, as it reflects your company, your ethos, and your business mission.
Incentives and Referrals
Source : referralrock.com
Did you know that 70 percent of email readers open company or brand emails if there’s a chance they could get a discount, deal, or coupon? Everyone loves a bargain or an incentive, so never be afraid to offer your customers a “reward” for shopping with you. It can be as minor as free shipping, or as significant as massive discounts for new customer referrals. Giving away something for nothing (within reason) can have unique benefits.
Market Research
Source : medium.com
Before you set about growing your business to a grand scale, ensure you understand your product offering, who you are targeting, and whether there is a demand in the market. Your friends and family might think your business model is the best thing ever, but what you need is an unbiased review.
Market research can offer that. Complete surveys, ask people and find out what already exists that’s similar to your own business. The more research you do, the more likely you are to get your startup off the ground.
Digital Presence
Source : mediatorselect.com
Close to 40 percent of people will exit your website if the layout is unattractive, the site takes too long to load, and it contains broken links. That’s a lot of potential sales to lose because you didn’t invest in your digital presence. As soon as you have a solid outline for your business plan, start to plan your online presence. A professional image can show your customers you’re a legitimate business with quality products and services. Unless you have the required skills, this is a job that is probably best left to a professional web marketing agency.
Advertising
Source : coopvoice.com
If you want to increase your business exposure, ensure that you invest in an appropriate advertising channel for your target market. It is critical to understand your target market and their media consumption habits. For example, if you sell walking frames for the elderly, you would advertise in the newspaper, on the radio, and in aged care facilities. You would be less likely to find sales on social media platforms until a new generation of seniors makes their way through.
The truth is that there is no “secret” that will unlock limitless success for your start-up. But these tips will help you to build a solid basis for your business. Once you start on your own for the first time, don’t underestimate the power of branding, investing in your incentive and referral programs, and establishing a polished digital presence.
