7 Marketing Tips for First Time Entrepreneurs
Every one of us will have come to some marketing tips for first-time entrepreneurs, but marketing tips for first time entrepreneurs is usually overlooked. As a first-time entrepreneur, we tend to make many mistakes. People like me who have zero experience in the start are more profound to do these mistakes. Some mistakes are small which we can rectify over time but some may cost your time and budget. From the mistakes I did, I have come with 7 marketing tips for first time entrepreneurs for doing good marketing and get high revenue.
1. Don’t neglect marketing
As a first-time entrepreneur, our first priority would be to make sure the product is perfect, that customers are happy and the business is running smoothly. And we tend to forget the marketing. Of course, all these are very much important for a successful business, and so is marketing. Just imagine, if you have the best products, best customer service but if the world doesn’t know your product then your business will fail in spite of all your hard work. You can eighter hire an agency or do your marketing by yourself to take the product to the correct audience
When you are building your business with a tight budget, you will tend to spend all your capital on procurement, technology, products and will have no or less budget for marketing. But you will end up in zero sales. So, plan your marketing budget prior to the start of your business
2. Align your marketing strategy with your business strategy
If your marketing strategy is not aligned with your business plan then your marketing will not give you the desired result. From your business plan set up your marketing goals. When it comes to digital marketing it’s a huge space with so many things, Seo, google ads, Content marketing, Social media marketing, video ads. Determine where your target audience is there and project your marketing plan accordingly.
Also, don’t burn your marketing budget in one field or put a small coin in everything. Set your target and allocate your budget wisely
Haven’t set your marketing strategy and budget, here is a quick read to help https://www.shadowbizz.com/how-to-set-your-marketing-goals/
3. Target the right social media channel
There is various channel when it comes to digital marketing. So before starting find out where your targeted audience is. Facebook is the biggest social media so most of the business audience will be there. If your business is b2b then LinkedIn will be more likely. If your targeted audience is in the age group of 18-24 then Instagram and Pinterest will be a good choice. There is no rule you have to stick to one social media or you must have your presence in all social media. You can select no. Of channels depending on your business. Once you have selected your channels, set your target. For example. If Facebook is one of your social media channels you selected.
- No. Of posts, you are going to post per week
- What is the budget you are going to allocate for each social media?
- The budget includes both amounts you are going to pay for Facebook for your ads and for the external agency if you are going to let them create and post the contents on behalf of you
- Determine your Key performance indicators, like how many followers I get for my Facebook profile if you want to your brand awareness or how many sales you got through Facebook.
Click here https://www.shadowbizz.com/choosing-the-right-social-media-for-your-business/ for our post on selecting the right social media for your business
4. Track your progress
When you start with digital marketing you might be successful and quite happy with the result. But without proper tracking, you will not know which drive you more traffic or revenue. Setup at google analytic account. This is a free tool by Google that will give all the tracking information. Which channel brought you traffic. Which channel brought you conversion. Also, you can know about the top pages, that people visit the most. Page with maximum bounce rate. You can check where you are going wrong and correct it. With all this data you can adjust your marketing strategies and bring in more sales.
Setting up google analytics and integrating with your website is very easy and I will upload a blog on that shortly.
5. Don’t forget the importance of remarketing
Remarketing is an important strategy in digital marketing. 93% of the visitors visit your website and go without making a purchase. Remarketing helps to target those audiences. This will increase your brand awareness, increase your conversions, and also your ROI( return of investment)
6. You can’t do everything alone
When it comes to digital marketing there are a lot of things to do, Seo, google ads, content creation, editing, and on the top, you have your business. So, if you are going to manage everything then you will reach a point where you will be exhausted and things will go out of track. You can grow with only the right team. If you want to expand then you have to hire the team for your business.
“Rulership can be successfully carried out (only) with the help of associates. One wheel alone does not turn. Therefore, he should appoint ministers and listen to their opinion.”
This quote is from the ancient book Arthashstra dated to roughly between the 3rd century BCE written by Chanakya.
7. Do not hire an agency without having enough knowledge about the subject
If you have decided to hire an external agency to help you with your marketing goals fully or partially, make sure you gain some subject knowledge before hiring them. For example, if you are going to hire an SEO agency to improve your ranking organically. Study the basics of SEO to know what the agency will do for you. What keyword are they going to target, is it applicable to your business. Are those keywords having enough search volumes so that you will drive a good amount of traffic? Are they using legal techniques and so on?
- Make sure the agency is transparent and tell them what and how they are going to do
- Make sure the agency understands your business and comes up with a unique marketing strategy for your business.
- Define your targets
- Ask them monthly reports and track your progress
I hope these marketing tips for first time entrepreneurs will help many entrepreneurs. If I have missed any essential points please free top add in the comment section