Previously, I dove into helping startups navigate the modern advertising market.
Now, we’re going to look into why it’s vital for startups to be bold and innovative when approaching their marketing campaigns. Others may regard being ‘unique’ when it comes to marketing equates to taking unnecessary risks — I believe that narrative is false; leading fresh brands down a more difficult path.
One of my business partners recently told me, “Older executives in their sixties don’t want to rock the boat,” and when you look out how most corporations are currently run in the United States, she is absolutely correct. Executives at Fortune 500 companies are often the top five percent of wage earners and form the Board of Directors of these companies.
However, their marketing message often remains stale, resulting in a strategy which does not resonate with the middle and working class individuals. Their quarterly reports look strong, but that is often due to brand saturation rather than being on the cutting edge of innovation.
Startups who want a piece of corporations’ market share; while delivering solutions for those pinched by stagnant wages, will need to think outside the box.
Look Towards Blockchain
Familiarize yourself with blockchain technology, and the solutions currently in development using the protocol. There are numerous companies using blockchain and various crypto currencies; which work in conjunction with fiat currency, to help make the lives of businesses and consumers easier.
The Geon Network allows business owners to create virtual objects ‘Geons’ and define withdrawal criteria, attracting customers to a specific business location, or event the brand is hosting. The Geon solution will allow startups to save money on fees, allowing them to create unique strategies which could revolutionize the marketing vertical.
Through the Geon Network, a business can create multiple ‘Geons’ to attract customers to build brand awareness. The concept uses the same Augmented Reality approach which took the world by storm through Pokemon Go.
Blockchain technology offers numerous solutions for startups looking to make the most out of their advertising budget, secure their data, and serve their customers in new and effective manners.
Bold Stands Out
Startups don’t have the advantage of brand recognition; therefore, bold marketing strategies will help these companies stand out from others within their vertical. Being bold doesn’t mean taking unnecessary risks, it means having the strength to act against conventional wisdom.
There are dozens, if not hundreds of websites which will caution entrepreneurs from attempting to ‘reinvent the wheel.’ This is a conservative strategy which will limit the growth of startups. I’m not suggesting to ignore all advertising and marketing rules — but to think multiple steps ahead of where everyone else is.
Numerous studies show millennial and post-millennial consumers are turned off by standard marketing practices and are instead moved by genuine appeals to issues important to them. Startups would be wise to speak to this large consumer block on their level rather than being afraid to ‘rock the boat.’
Not only will an aggressive marketing strategy grow brand awareness, it will foster a relationship with customers who are familiar with the digital world and are comfortable operating within it.
Use Everything Available To You
As I’ve spoken about in the past, there has never been an easier time for startups to market their brand to a larger audience. Social media has plenty of downfalls, yet when used correctly it allows companies to advertise their brand across the globe.
Unfortunately, most startups do not market their brand on all popular social media platforms — others have a stale approach which mimics how the majority of corporations use social media. An intelligent strategy for young companies would be to use Facebook, Instagram, Twitter, and other outlets which allow companies to freely reach potential consumers.