You probably already know that half of startups don’t make it to their fourth anniversary. What you may not know is that second to cash flow, marketing was their biggest challenge.
That’s right. A staggering 82 percent of businesses fail due to cash flow problems. 76 percent of small business owners say they struggle with marketing.
Now it’s all starting to come together, isn’t it?
There’s a strong connection between cash flow and marketing. Many companies overspend their marketing budget, which makes them cash-strapped.
You don’t need to spend much money at all to have a solid marketing strategy. What you do need is to advertise your startup effectively.
We’re taking a look at four marketing strategies for new tech companies that will only cost you time and effort. After you get the hang of it, it won’t cost you much there either.
For years, you’ve heard “Content is king.” That’s because it really is.
If your blog is SEO-friendly, Google will fall in love with your site in no time. Just make sure you stay up to date with the emerging trends in the field.
Keep your topics relative to your niche. Be an authority. Don’t overstuff keywords.
It wouldn’t hurt to look into hiring an SEO company. While you will have an initial outlay, a reputable SEO company will help ensure your website is making you money in the long run.
Social Media Marketing
If you’re starting a new tech company, chances are that your brand is on social media. But are you using it to market your business as well as you should?
Do a bit of research into who’s following your accounts. Compare that to who your target audience is. If they’re not the same, your social game needs some work.
Your followers should consist of people interested in your product or service. Sure, you’ll have the occasional college buddy or cousin following you. But the majority of your demographic needs to be your targeted audience.
Create engaging posts that grab your audience’s attention. Link back to your blog whenever possible. Use social media to announce promotions or product launches.
Most of all, be consistent about it. Posting once a month won’t work. Create a social media calendar to help you keep track of when you’re posting and what you’re posting about.
Original Video Marketing
Making your own original videos, uploading them to your site, and sharing them on social media is the top trend today.
People watch more than 500 million hours of YouTube videos every week. 45 percent of them admit they watch more than an hour of Facebook or YouTube videos each week.
In total, 85 percent of the U.S. population watches videos online. That’s a staggering amount of eyes that could be watching your content.
If you can’t afford a glitzy production team, you don’t need one. You can start off using live streams on various social media platforms.
Over time, you’ll want to hire a video production team. But, when you’re first starting out, live videos of product demos and how-to’s will get you some extra attention.
New tech companies sometimes forget that old marketing techniques still work. This is where event marketing comes in.
Not every brand can open a pop-up, but every small business should find relevant events to be a part of. Whether it’s a large convention or a trade show, use it to get your brand seen!
Larger conventions may charge you a booth fee. If you have to travel to the event, that’s another added cost. But you may be able to avoid the presentation fee if you use the event for networking purposes only.
You should definitely bring along some flyers, but make sure you read all the fine print on the event site. Some don’t allow solicitation unless you’re a featured presenter. You don’t want to hand out materials that can land you in hot water in your industry.
Tips for New Tech Companies
Starting a company is exciting, but it also has its challenges. Marketing shouldn’t be one of them.
Our four marketing tips for new tech companies will ensure you’re able to build your brand without breaking the bank.
For more insights on common issues that small businesses are facing, check out our other posts.