Commencing a business can be an exhilarating but challenging endeavour. While introducing your unique products or services, raising funds, and competing with other companies can be both thrilling and daunting, the key to success lies in standing out and capturing customers’ attention in a crowded marketplace. This is where effective marketing strategies come into play because, without them, even the most innovative and ground-breaking products or services may struggle to gain traction in the market.
Thus, to understand the tricks of the trade, i.e., think outside the box to build rock-solid business promotion ideas, especially in light of the Exploding Topics 2023 report that states 22% of start-ups fail due to poor marketing strategy, prioritizing effective marketing strategies to achieve goals is critical. So, today we have for you 12 unconventional marketing strategies that can help kick-start your start-up and get your brand noticed. Let’s get started-
Marketing Strategies to jumpstart your Startup
1. Referral Programs
Referral marketing is a powerful strategy that uses word-of-mouth endorsements from current consumers to attract new clients in exchange for rewards or incentives. Moreover, this approach has proven to be highly effective, as it is the primary factor behind 20–50% of purchasing decisions, according to data published on Business2Community. For start-ups, referral programs can be one of the most cost-effective tactics, as it relies on the simplistic approach of existing customers spreading the word about your company to their networks. This helps build trust amongst both current and new consumers, resulting in higher conversion rates, customer loyalty, and a better return on investment (ROI). By incorporating this technique into their marketing mix, start-ups can tap into the power of customer advocacy, accelerate their growth, and save on the high costs of traditional advertising methods.
2. Experiential marketing
Experiential marketing is another unusual but compelling strategy for start-ups. This approach involves creating immersive and memorable customer experiences, such as pop-up events or interactive installations, which familiarize people with the brand and its offerings. By providing an unforgettable experience, start-ups can create a positive brand perception and leave a lasting impression on potential customers. In addition, it also provides valuable data on consumer preferences, behaviors, and attitudes that can help formulate future marketing efforts. Another striking feature of experiential marketing is that it offers start-ups a unique opportunity to differentiate themselves from competitors and get noticed in a competitive marketplace.
3. Purpose-driven marketing
Marketing has evolved over a period of time. From a product-centric to a consumer-centric approach, it has now changed its footing towards purpose-driven marketing. This means aligning the values and mission of a brand with its marketing efforts, which go beyond profit (for example, commitments to health, social, or environmental causes, etc.). This pursuit requires start-ups to find a sweet spot to form a deeper emotional connection with customers who share similar values and, thus, build a more loyal customer base. Hence, by taking a step further from the traditional way, customers and employees are more likely to feel proud of connecting with the brand, leading to greater engagement and productivity. This shift raises awareness, gains trust and support, and helps the brand be distinct in an already busy business environment.
4. Exclusive Early Access
A start-up can effectively gain attention by positioning itself as an exclusive and desirable brand. This can be accomplished by granting access to its product or service to a select group of customers before making it available to the general public. The exclusive access can arouse excitement among consumers, generate buzz, and spread the word on social media channels. Moreover, as the demand for the products rises, it can lead to business growth through sales. Another benefit of granting early access is that they can collect insightful customer feedback, which can allow start-ups to make necessary improvements to the product or service before making it available to all. This strategy is highly recommended as it assists businesses in testing the market and establishing a foothold before competitors.
5. Community marketing
Community marketing is another approach that start-ups can opt for. It focuses on building a community of customers or fans who share a common interest or passion for a particular product, brand, or service. By creating this platform, companies can engage with consumers and foster a sense of loyalty and advocacy while generating positive word-of-mouth, which ultimately helps drive sales and business growth. The first step in developing this strategy is identifying your target audience based on their demographics, interests, and behaviour. Next is to determine the best platform to reach them, i.e., social media channels, online forums, or in-person events. This method is a powerful way to form customer connections and retention and increase their likelihood of investing in your product or service, even if it means paying a premium. It also lowers the dependency on paid advertising.
6. Guerrilla Marketing
For small businesses and start-ups seeking to generate buzz, get noticed, and create a memorable experience for their target audience, guerrilla marketing can be a unique, creative, but highly successful strategy. It typically entails using a high-impact technique to promote a product, brand, or service that astonishes potential customers in order to compel them to pay attention to the message being delivered. This marketing is particularly advantageous for start-ups with small marketing budgets because it uses strategies like social media campaigns, public stunts, and street art. In addition, the process takes people off guard, increasing the potential for the campaign to go viral. To track its efficiency, start-ups can monitor their effectiveness using metrics like social media engagement, website visits, or sales. But, being over the top, it is, however, essential to draw the line so it stays within the ethical and legal boundaries.
7. Collaborate with Influencers
Influencer marketing, though considered a relatively new branch, has seen immense popularity and growth in the last few years. To substantiate this, the industry, which was a mere $1.7 billion at the beginning of 2016, has grown to a market size of $16.4 billion in 2022. Furthermore, this number is expected to increase by 29% to an estimated $21.1 billion in 2023, as per reports. Thus, as a start-up, promoting products or services through this route can help kick-start their business, mainly because the influencers come with loyal and engaged followers who value their opinion. It also helps build awareness, credibility, and sales from an early stage of the business. Companies should, however, define how they would like to engage with influencers, i.e., posts, product reviews, etc., and consistently track metrics such as reach, engagement, and conversions to determine the success of the influencer marketing campaigns. Thus, if done right, this marketing strategy can enable you to increase customer outreach effectively and uniquely and assist a company in becoming a brand.
To wrap up
As a start-up, getting noticed among the target audience is one of the most crucial issues most businesses face. Thus, by using the above-mentioned unique marketing strategies, businesses can progress in the right direction of generating buzz, increasing brand awareness, and, hence, standing out from their competitors. However, it’s crucial to wisely select the strategy and consider its potential impact on your brand’s awareness and reputation. So, achieve your marketing goals by being creative, having a targeted approach, and measuring its impact.
Ready to make your Startup stand out? Leverage the expertise of Startup Marketing Company today!
