Starting your own company is easy - all you need is a big, bold idea, and you're already on your way to business! The big hurdle is keeping your business afloat. Most startups aren't scalable, nor are they durable. As much as 90% of startups close down by their 10th year, with 20% closing their doors within the first year!
Fast fashion has made it difficult to enter the clothing and design industry, and fine art has almost always catered to a niche market. If you’re in tech, the odds may be even lower as the market strives to comprehend the need for your products. These are a few hurdles that startups face as they struggle to grab a chunk of the market.
One aspect that many companies need more is brand awareness. Your customers can only purchase from you if they can find you. Brand awareness is increasingly important, with more and more startups entering the market each year. You must get ahead of the competition and ingrain your business into your clientele. Here are 6 tips on how:
Advertise Smart
Feel free to advertise your brand. Advertising gets your name out there and introduces your company to your potential customer base. It is easier to break into the market with advertising, and advertisements increase your brand awareness to reach a wider audience outside your personal social circle.
But not all advertisements are effective. Some may even be detrimental. For starters, immediately being aggressive with your sales pitch advertising may be more off-putting than interesting for most people. Start slow, and stick with tried and true methods to determine what marketing campaign would be effective for your brand.
Go Digital
There are plenty of sites out there that offer advertising and marketing tools for you to create stunning, eye-catching digital campaigns. Canva is one where you can use various templates to wow your customers with helpful digital posts. There are also Google Ads that will allow you to place your ad on their search engine for a small fee.
There are multiple options for you to utilize in our digital age! Facebook, Instagram, and other social media sites offer business profiles for free and ad space for a small fee. Many small businesses opt to use these sites to jumpstart their companies. Wix helps you get a fantastic website, while Shopify offers an easy-to-use platform where you can create your own eCommerce site.
Increase Consumer Engagement
Now that you've gone digital, you will need to keep up with your consumers. Consumers generally prefer brands with good consumer engagement and customer service, which many now reach through social media sites.
Check out your target market's current trends, and relate your brand to them. Always be polite to your consumers, and avoid feeding the trolls. Increasing consumer engagement can also be done through automated messaging systems, allowing your consumers to reach your brand anytime, anywhere.
Keep Up with Relevant Trends
Going back to those trends, not all are worth jumping in for. Only relate to relevant trends that apply to your business, and avoid controversial topics. Separate your personal opinion from the stance of your brand, and go for the fun, harmless trends and challenges instead. Keeping up with the trends puts your brand on the front page of your target market.
Localize Your Brand
An excellent way to increase your brand awareness is to start with your circle. Your personal social process would be where your first feedback will come from; from there, you can make necessary improvements or adjustments to your company. Marketing your brand locally is always a good idea, as you can build your customer base from one point extending outwards. Working with companies like Rank Nearby will help you generate local leads in the geographic areas where you provide service.
Still, not all businesses may apply to your local area. You can still localize your business by adapting to the target area you plan to host your business. Relate with the locals, and open your doors to all kinds of people. This way, you can continue to grow your business even after years of operation.
Stay Consistent
Last but not least, stay consistent! Consistency is the key to establishing your brand and will also increase your brand awareness. Imagine following a brand you love, only for them to change their marketing tactics each quarter? Not only is it confusing for your clients, but it can also cost you some budget to change your image.
Upgrading your brand is different from completely changing it. You should keep on improving; after all, upgrades are part of consistency. However, stick to your brand colours, the reputation of your brand, and your customer-friendly face when upgrading so you can stay consistent.