Forbes have recently published a rather cruel and shocking start up statistic. Apparently nearly 90% of start ups fail. So what can we learn from the remaining 10%?
One thing is certain. The victors will know their product and customers inside out and have some sort of marketing strategy put into place. Also, they would have asked the below questions to ascertain if there is a place in the market for their product. Do YOU have all of these crucial questions covered?
What are you offering your customers?
- What is the product/service you are offering?
- Name 5 points that make your product unique
- Why would a customer buy from you rather than a competitor?
- Is this something that the market NEEDS? Similar products/services?
Research and understand your audience
- Who will you be targeting? Age, Demographics ect
- What is the benefit of your product to your customers?
- Where can you find your audience? Social media platforms? Events?
- Where do they shop? Which newspapers do they read? Through research
How will you reach your audience?
- What are the most effective channels/ways to reach them? Emails, Social Media etc
- How will your audience engage with you? Through chat rooms? Newsletters? Twitter?
- What action do you want people to take? Email, call, subscribe, purchase, trial etc
If you would like assistance in creating a simple yet effective marketing plan, then get in touch with our social media and marketing experts at Designated PA.