Scrappy marketing for an early-stage startup is essential for future success, but is often overlooked by aspiring founders. And with the plethora of marketing resources out there, it's easy to get lost in the seemingly limitless options floating around. Luckily, Laura Johnson, a friend of the Founder Institute network, has outlined the advantages and disadvantages of several common marketing strategies.
There are so many marketing strategies and rules that it’s very easy for the new entrepreneur to make mistakes, or just feel completely overwhelmed when it comes to deciding which tactics to employ. Let’s explore a few of the top marketing techniques so that you can make a more informed decision for your marketing plan.
Adword Campaigns
Adwords is a pay per click marketing strategy that will include your ad when specific searches are made. Adword management is a vital tool to utilize if you are going to engage with this strategy.
The Pros
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It's customizable. - You choose your target market. You choose keywords that you wish your ad to be associated with. You choose specific ad extensions to show exactly what you want (product images, links, and contact info).
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It's tackable. - You can track who is clicking your ads, when they are clicking your ads, and with which search engines you are more likely to receive clicks from. This is a fantastic way to tighten up your marketing game.
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Better cost control. - The best part about Adwords is that you can choose how much your daily budget is for the day. You will never find yourself having to pay more than what you can afford.
The Cons
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It can be costly. - If you have a relatively low budget, this could hurt you. You pay for each and every click, regardless of whether or not it converts into revenue. Additionally, competition is intense and it’s driving the cost per click up. Which could result in a smaller amount of clicks available in your budget.
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There are character restrictions. - Although you have customization available, you are still limited to how many characters you can use in your ad.
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It's only for short-term. - Often Adwords is best used as a short-term boost to your SEO. It’s simply not meant for the long haul and could end up costing you more in money and man hours.
Email Marketing
Email marketing is a tool often used to reach out to customers that have requested information. Whether it is updates on upcoming sales, coupons, or improving services, the email marketing campaign is meant for personal engagement.
The Pros
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It can increase sales. - Many businesses report an increase in sales when they send out newsletters or coupons to their customer base.
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It boosts personal engagement. - An email, even just a newsletter, can make your customer feel personally invested in your business. It’s a fantastic tool to nurture those relationships!
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It's easy. - the email campaign can become a part of your brand, thus solidifying your place in the small business world.
The Cons
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It doesn't always increase traffic. - Unfortunately, a lot of businesses report that people simply don’t click the links to the landing page. Emails are simply very easy to ignore and delete without ever opening.
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It requires quality content at all times. - Not all email campaigns are that intriguing. If your newsletter doesn’t ensnare your customer within minutes or is too long or bulky, your customer base is just not even going to read your email.
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It can be seen as salesy. - The email marketing is often used as a way to just promote sales and that will cause you to lose your customer base. There should be a nice balance between informational content and sales pitches.
Direct Mail Advertising
Direct mail advertising is one of the oldest forms of advertising that is still utilized today. It utilizes print advertising mailed via postal service to your subscribers.
The Pros
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It's segmented. - This particular campaign is focused on those who wish to receive the mail. This is especially helpful for insiders campaigns that are for your consumers who have shown consistent loyalty.
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It can be scheduled. - Direct mail can be limited to use during very specific times, such as the holiday shopping season
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You can distribute more Information. - Unlike other forms of marketing, you have more room for information on direct mail advertising. This gives you a slight upper hand on providing more information in a platform that can handle it.
The Cons
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It can be seen as "junk". - Many people these days rely on electronic messages and deem anything they receive in the mailbox as “junk”.
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It can be costly. - what really separates direct mail from other marketing strategies is the cost. And it is truly one of the most expensive between designing, printing, and postage for mailing.
When you jump into the world of entrepreneurship, it’s easy to make a few mistakes along the way. Hopefully, we have provided enough information here to really inform you and help make your marketing strategies easier.
Laura Johnson is a part time blogger and full time adventurer. She enjoys writing about anything that sparks her interest. This especially includes her passion for business and branding!
(Group of people sitting at the table and devises a business plan. View from the top of the table and sketched ideas image by Shutterstock)
