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Marketing Strategy for Startups

Purple Cow, one of the bestsellers and a must read,  defines marketing as the act of inventing the product. The effort of designing it. The craft of producing it. The art of pricing it. The technique of selling it.  You need a good marketing strategy for it!

The main focus of your strategy should be making sure that your products or services meet clients needs and developing long-term & profitable relationships with those clients. To achieve this, you’ll need to create a flexible strategy that can respond to changes in customer perceptions and requirements. It may also help you identify whole new markets that you can successfully target.

Key Elements of your Marketing Strategy should be connected & synced.

The prime purpose of your marketing strategy should be to identify & then communicate the benefits of your business offering to your target market. Before showcasing what you’re selling, learn why your customers would want to purchase your product and show them that. Follow the principles of golden circle by Simon Sinek. He has very beautifully presented the significance of WHY over WHAT and HOW.

Once you have created and implemented your strategy, monitor its effectiveness and make any adjustments required to maintain its success.

Moreover, identify which customers to focus on and your key objectives in reaching them. It explains what to include in your marketing strategy and how it can be used as the basis for effective action.

Marketing strategy: Understand your customers

A successful marketing strategy depends on knowing your customers, what they need and how you can persuade them to buy from you.

Draft your marketing strategy

There’s no substitute for knowledge. But you’ll also need to understand that market is the real test taker. You might feel you know how market works — where your customers are? But think again!

Experience and regular two-way communication will tell you a lot about your customers. But targeted market research will build a more detailed picture of customer segments with similar needs. It will help you & your organization understand how to target these people so you’re not wasting time on people who aren’t interested in your offer.

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Marketing Strategy for Startups
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