Why Is Digital Marketing Essential for Startups?
After hearing many real-life stories, I understand that running a successful startup is not an easy job. There are many factors that you need to give attention to. Before moving into more details, let’s first understand what actually is a startup?
The Small Business Association sums it up best:
“In the world of business, the word ‘startup’ goes beyond a company just getting off the ground. The term startup is also associated with a business that is typically technology-oriented and has high growth potential. Startups have some unique struggles, especially in regard to financing. That’s because investors are looking for the highest potential return on investment while balancing the associated risks.”
Most of the startups have a few things in common: a tight budget and a superb plan. Nowadays, everything happens in the world of the internet. Each day, new brands are booming, which have to compete with long-lasting companies. No one starts a business with a proper digital marketing strategy these days. For start-ups, the only hope of being successful is the effective use of marketing strategies. Startups often have a limited budget initially. With this limited budget, the business needs to reach the customers.
In a recent survey, CB Insights found that 17 percent of startups failed because they did not market their business correctly. India had 331.77 million internet users in 2017. Whereas, this figure is projected to grow to 511.89 million internet users in 2022.
However, if doing digital marketing in the right way, can be a huge boon for your initiative and can accelerate your business successfully. Read here to know about the Digital Marketing trends in 2020.
Here are a few points that will tell you why digital marketing is important for every startup.
1. True Engagements
Digital marketing has the ability to transform a product/service to the right audience in a cost-effective manner. Digital marketing brings the business one step closer to the audience. One of the best examples is Flipkart, one of the top e-commerce stores in the world today. Flipkart credits most of its traffic to its social media marketing strategies. The social media campaigns engage the audience with the events and the happenings of the company such as product launch, services updating, acquisitions, awards, etc.
2. Build Brand
A newborn entrepreneur’s vision is to build his brand. Digital marketing can not only bring you to lead, but it also increases your web presence. When you run a digital marketing campaign, your campaign may reach thousands of new audiences. Some people on the web may not become immediate customers, but you can convert them if your business brand awareness improves. The more your business spreads on the web, the greater are the chances that your small business becomes big with incredible ROI in the industry.
3. Track Your ROI
Digital marketing makes you extremely comfortable by tracking the Return on Investment (ROI). Digital marketing offers you a facility to review the campaign when it is running. Therefore, instead of waiting for the campaign to end, you can make necessary adjustments towards better investment. If the campaign performs below par, you can stop the campaign and avoid more losses.
4. Inexpensive Customer Research and Behavior Tracking
Startups are too new to know their customers and their exact wants. A startup can never act like Amazon or Flipkart or any other big fish which has years of industrial experience. Here comes the importance of using digital marketing.
Through some digital marketing applications and technologies, companies can track the behavior of the customer, their demographics, age, product/service they checked, etc. Rather than spending millions on a TV advertisement, a startup can go for an inexpensive digital marketing campaign.
5. Right Digital Marketing Approach
You have to be very careful when you plan for the digital marketing strategies for your business. Implementing the right digital marketing approach is the challenge every entrepreneur is facing. From creating a website, the marketing techniques must be planned out in advance for them to be effective.
Among many digital marketing techniques, startups can focus on the below-mentioned points:-
• Create a website that showcases the brand maximum
• Video marketing
• Paid per click campaigns
• Social media optimization and marketing
• Email marketing
• Search engine optimization
The business needs to start its journey with an amazing website that projects the brand. The site should be easy to navigate. It is better to include a section for blogs or similar types of content which can boost online visibility and brand awareness.
A limited budget startup can use the features of SEO, a technique that drives organic traffic to the website. The keywords, backlinks, and other metrics added on the website can be picked up by the search engine to decide whether the website is useful to the reader.
6. Content Is King
Many of us have heard about this statement, Content is King. Yes, it is true, the right content attracts the right audience to your website. To become a successful entrepreneur, it is imperative to ensure that the right effort is made in the direction of content, which can help you to witness magic in website traffic, and consequently generate a good number of leads.
From the beginning of a business, digital marketing needs to be a common part of the business strategy. As you can see, there are multiple reasons why you need to invest in digital marketing. Need help with your digital marketing strategy? Contact Bridge Global to build an awesome customized marketing strategy for you!