![]() Remember that making adjustments doesn’t mean that there’s no point in having a plan. Regularly Update Your Marketing PlanĪs you learn, experiment and grow, continually revisit your marketing plan and adjust it to each new resource or piece of knowledge gained. It can get a little tricky to differentiate cause and effect when running multiple strategies at once, but you can also use other metrics to analyze your success based on the specific goals you’re after, such as website traffic, click-through rates, A/B testing, trending hashtags, and other measurable data.ĭon’t be afraid to experiment and try out different approaches, so long as you don’t wander off your plan too much and blow your budget.ĭepending on your brand, venture and experience in the field, it may take several attempts to figure out what combination of activities will get the most eyes on your company. The most straightforward way to figure out your return on investment is to track your marketing expenses for each tactic you use and compare it to the resulting revenue at the end of that campaign. Other cheap ideas include hosting charity events, attending conferences, emailing newsletters to your subscription list, having a well-designed website, sharing value-oriented content and seeking out heavyweight reviews and referrals. However, you can still put what dollars you do have to smart use in order to gain some traction when launching your brand.Įven if your budget is small, simple advertising programs like boosted social media posts or Google ads can still deliver a significant pay-off. Generally, the less money you have upfront, the more time you’ll need to spend in its place to prime your marketing pump. ![]() If, like most startups, you don’t have any revenue yet, plan on keeping your marketing expenditures to less than $1,000 per month and tie that spending to concrete, measurable deliverables. This is to jumpstart your marketing campaign, which can then be scaled back to 6 to 12 percent once your sales are rolling. While there is no set rule to establishing your marketing budget, founder and CEO of Elevate My Brand, Laurel Mintz, recommends that startups set their initial budget to 12 to 20 percent of gross or projected revenue. However, a haphazard marketing strategy can be just as bad as no strategy at all, leaving you not only with a failed venture, but business-related loans and debt that you may not be able to repay.Ĭheck out these marketing tips so you can avoid the common pitfalls and ensure that your company’s launch really takes off. ![]() ![]() One of the biggest challenges that startup companies face is the marketing process: how to market, where to market, and what to spend are puzzles that plague every fledgling business hoping to break into its industry. ![]()
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