You may know this, but there are over 55,000 start-ups today in Singapore alone, and the number is still growing. Which means start-ups are not only competing against conglomerates; their fight is with the rest of the start-ups as well.
In a cut-throat situation like this, the best solution to rise above the competition is to stand out distinctly. Here are some tips a start-up could use to start off.
Know what you want to say and say it out loud
Moving forward without a clear message in mind is not a smart move. The purpose of the start-up is vital.
Only knowing it is not enough. Reaching out to their target audience and letting them know is also necessary.
A highly effective way to do this would be through marketing. As a member of the PR and marketing team in my start-up, the work I do is crucial. Sure, we focus on the services we offer. Without marketing it, though, we would not be able to complement our hard work and do it justice.
In my industry of tech, there are several start-ups out there. It is a functional, planned-out marketing structure that would go a long way in setting a successful one apart.
Countless start-ups who fail to make it almost definitely did not focus on marketing themselves early on. Since the message was not sent out earlier, potential customers were left unaware and unreached. Needless to say, that does not do a company’s profitability any favours.
Shout your message out in ways that you can. The impact it can have and recognition you get can be staggering.
Use social media
For starters, it’s free! Social media is one of the few things in the world that does not cost you anything and yet is highly effective. With the right content, a company could be well on its way to forming its own organic customer base that they can easily communicate with.
And these customers can communicate back. Social media channels make it very easy for them to leave any feedback they wish to, which is an asset to any start-up. From blasting emails to posting an announcement on Instagram, there are several ways for a start-up to establish contact with customers through social media.
The collected feedback would be a significant help in telling the company what they are doing right or wrong, enabling them to make tweaks if and when needed.
What is the real you?
Customers nowadays are big on authenticity. The same old photoshopped visuals with vibrant colours are not enough to convince them anymore. The question then arises, “What would convince them?”
Your story would. Customers want to see beyond the sales material; they want to know what makes you…well, you. Sharing how your start-up came about, what the inspiration behind it was – your customers would feel the pull without even consciously realising it.
This automatically sets you apart, and here is why. Everyone out there has a story, but yours is uniquely yours. All that is left to do is to use the right words to forge a connection between your company and customers through your story.
This connection would be built on the strength of core values such as trust and a deeper understanding of the purpose of the company. When it comes down to the crucial moment of deciding, this connection may very well be the game changer that makes the customer choose you.
Create a Unique Message Based on Customer Input
For a start-up, knowing what the customers need is a key for growth. The next step is using that knowledge to create customised content for them. Keep gathering data and analysing it to try and work out your customers’ taste so you can craft out the best message.
At the same time, tread carefully. Make sure, as best as you can, that you do not only cater to one group of customers. Not only would this make the rest of them feel unvalued, you could stray from the very fundamental quality that attracts them to you in the first place.
Feedback questions and surveys are a great way to go about exploring your customers’ opinions. Basic questions such as “Do you find our prices affordable?” can aid in refining the product or service and best cater to this most vital stakeholder.
Honesty is the best policy
Everyone likes a great, inspiring success story. They like it even better when that story is genuine. According to poll results of top business-to-business (B2B) marketers, 54 percent of them agree that sharing real success stories is extremely effective.
Building a relationship on untrue content or falsities can never do a start-up any good. As mentioned earlier, authenticity is what seals a good deal. A transparent, real story about how the founder dropped out of college to start his own tech company might be just the thing customers want to read.
The customers whose values resonate with the story will form the loyal base that every start-up needs.
What’s life without a little philanthropy?
A start-up’s place in and value to the community is of great importance to customers. If your service or a product aids the community significantly, chances are it is a huge success with the members of that community.
The company’s dedication and concern to the people is shown, which communicates that the society matters. People get to see that even businesses can think beyond just their own well-being and offer help.
If you want to find out the vibe or mindset of a start-up, just take a look at its team members.
Because a start-up’s team is so small, it becomes imperative that each member must be a strong personality in whichever department they belong to. A wildly creative digital marketer or an eloquently tactful PR executive are some examples.
A vibrant workplace helps to prop up a brand and enhance its uniqueness. This allows the start-up make sure it is flexible enough to be able to adapt to a changing society as well.
Treat the team right
If you managed to find the perfect digital marketer and PR executive I mentioned earlier, brilliant. Now, all you have to do is make sure they are treated well. A start-up cannot fulfil its potential without the people who make it up. Their well-being is crucial.
Team members being emotionally cared for can translate into many positive outcomes for the start-up. Increased revenue, better branding, reduced expenses, an established customer base; the list goes on.
To do this, start by thinking of what would make an employee want to stay. Empower them through opportunities and encourage their learning. Taking them out for a mean once a month or so would also be the kind of bonding session they would appreciate. The team’s productivity and drive would stay amped up.
Happy people tend to spread their happiness. Once the word gets out there, more talent would see your start-up as the desirable work environment they want to be a part of. With a satisfied and adept group of people, your start-up has the best team to boost it to its success.
Competition will always exist, but following these tips might be just what your start-up needs to be the next big thing. These six stepping stones would go a long way in taking it up the ladder of success.
If your company is not where it wants to be, why not try these out? If you have any tips of your own, even better. Trial and error is an excellent way to figure out what works best for your company.
Better to be a risk-taker and gleaning the possible benefits of it than staying stagnant, don’t you think?