Marketing is the cornerstone of business operations, and startups are no exception. According to Gartner statistics, companies spend 9.5% of their gross revenues on marketing. It’s a relatively small number, considering that campaigns bring in customers and revenues for a business.
As a startup, you cannot overlook digital channels because a large segment of buyers relies on the Internet to search for brands and products and complete purchases. Not having a robust presence online can push you far behind the competitors. Not surprisingly, statistics show an impressive increase of 10.5% in digital advertising spending in 2023.
It’s not about spending a certain amount on marketing but finding the right mix that fits your startup budget. At the same time, you must ensure that you don’t skimp on the essentials. Also, remember that there isn’t a proven digital marketing mix for young startups because their target audience, budgets, and goals vary.
You can experiment a bit and find a perfect one that works for you, and keep it scalable and agile to match the evolving needs of your business. Let us share a few tips to cover all fronts.
Begin With the Basics
Before thinking of next-gen digital marketing strategies for your new business, you must start with the basics. Search engine optimization, social media marketing, and pay-per-click advertising are the pillars of digital marketing. An ideal mix must include all three to ensure a broad outreach for your young startup.
Consider the example of the Indian market, where businesses have a huge online market to tap. You must get your website ranking on top, have a robust social media presence, and run contextual ads targeting online users. Startups can collaborate with an agency for an end-to-end solution. Since Bangalore is a hub for tech expertise, finding digital marketing services in Bangalore is a good option.
According to Mathew Digital, entrepreneurs should embrace data-driven campaigns to maximize their marketing investment. The good thing about following data is that it eliminates guesswork from digital marketing, so there is hardly a chance of wastage. It’s a win-win for a young venture with a minimal budget.
Leverage Artificial Intelligence
Beyond the basics, startups can leverage AI to take their digital marketing plan a notch higher. According to Grand View Research, the global AI market size touched the $ 136.55 billion mark in 2022. It is estimated to grow at a compound annual growth rate (CAGR) of a whopping 37.3% from 2023 to 2030.
AI tools such as ChatGPT have made the technology even bigger and better. By leveraging AI tools and technologies, you can ramp up your content and SEO strategies for less. At the same time, you can utilize them to automate tasks and deliver personalized customer experiences through virtual assistants. It translates into time and money saving, which is great for startups.
At this point, it is crucial to understand that you cannot completely rely on AI for your marketing initiatives. You must follow some rules and keep the human touch intact throughout your interactions with customers.
Spice up Your Content
Content is perhaps the most significant part of the digital marketing game. As a startup running on a shoestring budget, you may want to churn out AI-generated content. But it isn’t the wisest way to save resources. You may use these tools for ideas, research, and formatting rather than create blogs and articles. Human connection in your content can give you a winning edge in the AI era.
There’s a lot you can play with when it comes to using content in your digital marketing mix. Spice it up with different formats like whitepapers, informative blogs, infographics, animated GIFs, and video clips. Interactive content, such as surveys, quizzes, and games, helps you gain attention and hook the audience for the long haul.
Another content strategy worth trying is user-generated content (UGC) in the form of product stories, customer reviews, and video testimonials. They cost nothing but boost the trust and credibility of your brand. You can entice customers with small incentives to post UGC for brand promotions. It’s a small investment with attractive paybacks.
Digital marketing can be a savior for startups looking to promote themselves and compete with big brands without spending a fortune. Getting the mix right is the key. Even as you should stick with the basics, don’t forget to add extra value with artificial intelligence and high-value content.
While you are in it, play the voice game and win with keyword optimization. Most importantly, take an agile approach and adapt quickly to the changes in the market, competition, and customer expectations.