Starting a new business can be both exciting, and incredibly daunting. One of the most important aspects of launching a successful startup is how you utilise marketing. It's not enough to have a great product or service if no one knows about it – this is where marketing comes in. And as we know starting a new business can be incredibly stressful with a lot of new learning taking place, so we've made it nice and bite-sized for you by outlining just three keys to start-up marketing that you need to focus on: tracking, continuous improvement, and trial and error.
Tracking is the first, and probably the most important element of successful start-up marketing. When we say tracking we're talking about monitoring and measuring your marketing efforts to determine what is working and what is not. Tracking your marketing efforts will help you identify which channels are driving the most traffic and conversions to your website, and this data will help you make informed decisions about where to allocate your marketing budget.
There are many tools available to help you track your marketing efforts. Google Analytics is a highly popular option for keeping across all the information related to your website traffic, while social media platforms like Facebook and Twitter have built-in analytics tools that allow you to track engagement and conversions. It's essential to set up tracking early on in your marketing efforts to ensure that you can make data-driven decisions, and save on cash if some of your marketing is not increasing awareness or conversion.
2. Continuous Improvement
The second key to successful start-up marketing is continuous improvement. Marketing is not a one-and-done effort; it's an ongoing process that requires constant attention and tweaking or outright changing. Once you've used one of the great platforms available to track your marketing efforts and identified what is working, it's time to optimise those channels and campaigns to maximise your ROI.
You could look to conduct some A/B testing on different ad creative to see what lands best, you could tweak layout or wording on landing pages to improve conversion rates, or experiment with different targeting options. The key is to keep testing and refining your marketing efforts to ensure that you're always improving your ROI.
3. Trial and Error
The final key to successful start-up marketing, and it might be an obvious one, is trial and error. Marketing is not an exact science, and what works perfectly for one business may not work at all for another. It's essential to try different marketing channels and tactics to see what works best for your business and your specific audiences.
Trial and error can involve experimenting with different ad formats (for example GIFs or short videos), really specific messaging or really simplified landing pages, or even introducing entirely new marketing channels. Most importantly it's an understanding that where there is trial, there is error, and sometimes your best laid plans may fall flat and fail to convert. This is all part of the journey. It's crucial to approach your marketing with an open mind and be willing to pivot quickly if something isn't working.
Why These 3 Keys Work Together
It's important to note that marketing results are not always immediate, which is a challenge in startup world where everything happens at speed. Sometimes, you may see a quick boost in traffic or conversions, while other times it may take longer to see the results you're hoping for. However, by focusing on these three keys to start-up marketing – tracking, continuous improvement, and trial and error – you can consistently improve your marketing efforts over time and keep seeing how this builds up your results.
Continuous improvement is particularly important when it comes to building a solid base of results. With each improvement you make, you're building a layer of marketing and results that will continue to grow over time. This consistent base of improvement allows you to rely less on one-off campaigns or initiatives, as you're consistently building on your previous successes.
Of course, there will still be times when a specific campaign or initiative will give you a quick boost in results, perhaps you take advantage of a current topic or you offer a really good deal to your audiences. However, by consistently improving your marketing efforts, you'll be in a better position to take advantage of those opportunities when they arise. Your marketing efforts will have a strong foundation, making it easier to identify these boosts and use this information to amplify your results with occasional campaigns.
By focusing on tracking, continuous improvement, and trial and error, you'll be able to develop a solid marketing strategy that delivers consistent results over time. Whether you're looking to drive more traffic to your website or increase your conversions, these three keys to start-up marketing will help you achieve your goals. Remember, marketing is an ongoing process, and by continuously improving your efforts, you'll continuously be in a better position to drive success for your business.