Every entrepreneur dreams of building a startup with many customers and making profits within the shortest time possible. Unfortunately, this is easier said than done. Building customer loyalty takes a lot of effort and resources.
But it’s important to make your existing customers happy. According to one study, it can cost you up to five times more to attract a new client than to retain an existing one.
You need to get creative for people to know, like, and trust your brand before they start buying and using your products. Use these unique marketing strategies to kickstart your startup.
1. Make National Headlines
Crazy news draws attention and spreads like wildfire. You can apply this tactic to market your startup and gain free publicity. Be thoughtful, creative, and original or you may damage your business image beyond redemption. Think of businesses that used unusual marketing tactics to promote their brands and borrow ideas from them.
Build relationships with prominent publications and editors. Share their content and mention them on your blogs whenever appropriate. But do it moderately to avoid looking like you’re desperate for attention. They may feature your brand in their publications or link back to your website if you have good content. Better yet, find a clever way to ask publications for backlinks.
2. Launch a Referral Program
According to one advertising report, 92% of consumers trust product recommendations by friends and family. Many startups use referral programs to encourage happy clients to recommend their products and services. Launch yours and give your clients a reward for every successful referral that buys from your business.
Besides encouraging more customers to buy from you, referral programs are also effective when you’re introducing a less-known product or a new business model. For instance, if you run a dealership and decide to launch an online store that allows people to buy cars online, a referral program can be effective in helping you get more customers.
3. Host and Attend Events
People remember a brand better if they interact with it than if they read about it on posters and flyers. Host local events, sponsor community events, and support local sports teams. But always find a chance to talk about your products and services.
Attend and meet locals and influencers at trade shows, business dinners, product launch events, and workshops. Be friendly and introduce yourself and your startup during such meetings. Talk about your business and exchange contacts with the people you meet.
4. Partner with a Bigger Brand
Co-branding is an effective way to boost brand awareness and tap into new markets. Small businesses struggling to build their audiences can leverage the strategy to build a loyal fan base. However, good partnerships require planning. Know how to negotiate a business partnership agreement before approaching any big brand.
A good partnership offers equal opportunities to all parties involved. Plan well and be transparent about the deal before signing any contract. Meet in person and let each party explain what they are bringing to the table.