10 High-Impact Growth Strategies for Newly Launched Startups
When you newly launch your startup, it is always going to be a very huge moment of pride for you. The truth is that just after the launch, you start grappling with serious cash flow issues, a lot of overworking and an increasing need for skill sets that you cannot afford to bring in at the company at that point.
The only way to beat these challenges is to massively focus on scaling your company to increase the customer-base and bring in more cash to finance your growth, hiring, advertising and further product development.
Setting goals and planning for them is an essential part of beginning that growth. Even with the goals all set, you find that you will need to fit into many hats in order to make the startup work. When you are the founder, you are also the CEO, accountant, customer service rep and sometimes the product developer. This is the theory of bootstrapping and keeping all costs to a very minimum to finance your growth.
If you can make use of the following strategies, you will not be waiting a very long time before those sales start streaming in:
Search engine optimization helps small businesses scale faster but it takes time before organic traffic properly kicks in. All startups should make sure that from the very beginning, SEO is tackled and their website aligned with all the rules set by Google – the most powerful search engine today. As a first step, I would recommend choosing a proper website builder. You can even choose a DIY website builder if you want more flexibility.
SEO is also not something you work on for a while, set, and forget. It is a continuous process on which you put in effort every day of your business.
After a few months of doing proper SEO, traffic starts to kick in. Organic traffic is the easiest way to grow your business in a very passive manner too.
Blogging for startups is near mandatory. The best way to book your spot as a credible company in your field is to write guides, articles, and features on your blog.
These articles should not only help possible customers to solve problems they are having in that field but also help your prospective clients understand your product better. By adding your voice into the space, your credibility increases and you get more social media traffic resulting from shares.
Content is a critical part of scaling because it proves your understanding of the topics in question. Several businesses including Buffer and HubSpot have grown as a result of their mammoth helpful and informative blog posts. Start by looking at this content marketing guide.
There are several bloggers existing in every niche. Many of these blogs are also turning into legitimate media companies. Prepare a list of bloggers that write content based on your keywords and field.
Contact them for a feature of your product to their audiences in return for lifetime memberships or a free product or service. This strategy is usually very effective since most bloggers are continuously looking for worthy content to share with their readers.
4). Giveaways and Contests
There is nothing more loved like giveaways in the current market. Customers are always willing to go an extra mile just to get something for free.
Creating online contests which provide giveaways as gifts could incredibly scale your business and put it in the eyes of the right customers.
5). Social media
Startups like Buzzfeed leveraged the age of social media to become media giants. The good thing about social media networks is that they already have users and you can leverage this clout of billions of people to market your product and scale it extensively.
Add sharing buttons on your blog’s content and create pages on Facebook, Twitter, Pinterest, Google Plus and Instagram. Grow your audiences in these platforms and watch your startup scale.
6). Lead magnet and Sales Funnel
The best online marketers will tell you the importance of having a value-attached magnet to attract possible leads. These can mostly be in the form of downloadable items and free offers through which you win access to your future customers’ contacts. If you can do this, from there henceforth you put them in a sales funnel and sell to them whatever your product is.
The major aspects of startup scaling here rely on extremely value-additive lead magnets that get in huge numbers of interested parties, and a proper copy of the sales message capable of changing minds.
7). Email Marketing
One of the most powerful drivers of growth is email. Send value-addition emails to your blogs subscribers and after a while pitch your product to them. A lot of sales come out of this.
The main goal should be to grow your email list where opt-in forms should help out on your blog. Avoid spamming your users and ensure that all the emails you send are very informative and add value.
You can also implement drip campaigns to ensure that this email marketing process keeps going on without you necessarily getting involved on a daily basis.
8). Affiliates Network
Affiliate networks have helped several startups to scale. Amazon is partly what it is today because of their affiliates program. The business model with this is that you will allow people to market your product or service and in return pay them a commission when you get a new sale.
It is a solid growth strategy, and has also helped most hosting companies expand their businesses to millions of customers. You should be careful to not provide too much commission since this might jeopardize your business as a result of lacking cash flow.
If you can figure out how much it costs per customer acquisition, you can set your AdWords budget and position it in a way that you can get more from the customer when they sign up.
AdWords is one of the biggest advertising platforms around. Cracking the strategy to use this platform will help you scale your business in ways unimaginable. It will cost more than most strategies above, but since it is based on the search habits of your possible customers and re-targeting, the rewards will be worth it too.
10). PR Outreach
You need to put your startup in front of the media if you are to achieve your goals of growth. Selection of the media you would like your news told to is also very essential. From the process of selecting a target media list to perfecting your cold email pitch and building long-lasting media relations, each part of the PR process is very essential.
At Pressfarm, aside from providing you with a platform on which to search and reach out to relevant journalists, we put your startup in front of over 160k social media followers as well as help with crafting your email pitch based on various story angles, and submitting your startup to over 50 startup directories to give your company the exposure it requires to get in the press.