What do you do when your startup has limited funds? Profit from Tech reported that 58% of startups have around $25,000 at their disposal during the startup phase, but only 40% of them became profitable. To thrive, you must be creative with your time, and resources, and be agile, which means abandoning the Fortune 500 marketing mindset.
The Fortune 500 marketing mindset is about mass marketing to as many people as possible. It involves spending a lot of money on advertising and hoping some of it sticks. But for startups, this mindset is a recipe for disaster. They can’t afford to mass market their products or services.
So, what can startups do to promote their products and services? It begins with being more agile with time, resources, and money, focusing on building a community of engaged, loyal customers. Read further to learn how you can abandon the Fortune 500 marketing mindset.
How Founders Can Be More Agile With Their Time, Resources, & Money
1. Be agile by being creative with your time
Startups can’t afford to waste time on activities that don’t generate results. They need to be very strategic with their time and focus on activities with the most significant impact. One way to do this is to batch your tasks.
For example, if you need to write three blog posts, do all the research for those posts in one sitting. Then, write three drafts in another sitting. It will eventually save you time because you won’t have to switch back and forth between different tasks.
2. Get creative with your resources
Startups often need to wear many hats and do a lot with very little. They need to be resourceful and get creative with what they have. There are various marketing tools that you can use to automate your marketing tasks.
For example, you can use a tool like MailChimp if you need to send out email newsletters. If you need to track your website traffic, you can use Google Analytics. Or, if you sell products online, you can use an e-commerce platform like Shopify.
3. Get creative with your money
Startups should be very careful with their spending. You can use free tools like Google AdWords or Facebook Ads to drive traffic to your website and low-cost tools like Hootsuite to help you with your social media marketing.
Another way is to focus on inbound marketing, which focuses on attracting customers to your website or product through content creation. You can create blog posts, ebooks, or webinars that will attract potential customers to your website. Once they’re on it, you can convert them into leads or customers.
Founders can no longer rely on the same marketing playbook as the Fortune 500. They need to adopt a modern marketing mindset to be more agile with their time, resources, and money.
At Instantly Relevant, we help founders do just that. Meet with us, and let’s chat at https://calendly.com/instantlyrelevant to fin out how we can help your business grow.