Developing a marketing strategy is one of the most important stages when creating a startup. After all, what’s the point of having a good product/service if you’re not reaching your customers? Investing in marketing is key to attracting consumers, generating sales, and growing your company. 

Defining a marketing strategy takes a lot of research and knowledge about your product, your market, and potential clients. If you’re just beginning your life as an entrepreneur, you might feel a bit lost. The good news is that a marketing strategy is a dynamic process, and it needs to be evaluated constantly. So don’t panic if something goes wrong. 

In order to help you take off with the marketing strategy for a startup, we’ve asked Olivia Plotnick (Marketing Mentor at EIA Hong Kong) to share some tips for this process. Check out the tips below, and don’t forget to watch the video.

Marketing Strategy for Startups: 3 tips to stand out of the crowd

#1 What Makes Me Unique

When creating a marketing strategy for a startup, you need to ask yourself what makes your business unique. Don’t worry about all the ways you are similar to others. The most important thing is to determine what makes you unique. 

Write this question down on a piece of paper and take your time to come up with some answers. Share your thoughts with your team and friends. They’ll help you validate your ideas before you start working on your marketing strategy. 

#2 Build a Community 

Creating a business with a low budget is a reality for most startups. So how can you build brand awareness, loyalty, and get feedback that can help you move faster without spending money? The answer is simple: Build your community. 

People want to belong, so make them feel like part of your brand – make them your ambassadors, your representatives, and your star customers. In practical terms, this means sharing user-generated content, photos, images, and quotes.

Don’t forget that people want to share their experiences and expertise. They’ll feel proud to see their story shared by your business. 

#3 Differentiation

What is the most important problem that the startup is solving? At this moment, you don’t have to think about your brand, nor your product. It’s time to think about the problem you’re solving for your customer. 

You may have several points of differentiation, but which one matters most to your customer? Things may be different from what you’re thinking. In the video below, Plotnick provides a quick example of how knowing your differentiation can change your results.

Are you ready to start planning the marketing strategy for your startup? On EIA’s blog, you’ll find numerous articles to help you better understand how to create a startup and become a successful entrepreneur.