Tips On How Startups Can Navigate Modern The Modern Advertising Market
If you are running a startup, there are a number of challenges you can expect to encounter. In my experiences with HeartStrong Media, the most difficult aspect is getting out of the gate strong. However, without giving away any proprietary information, I and the other co-founders of the company have been able to come up with solutions for our early hurdles.
One of the more interesting aspects of marketing in the modern era involves advertising and branding. There are numerous different ways to reach a target audience and those within a specific vertical. While having options is always a bonus when looking for solutions, it’s vital to the long-term health of your business to be efficient with your advertising budget.
Let’s take a look at some actionable tips which will benefit your startup.
Don’t Focus On Legacy Media
Fellow millennials and post-millennials will immediately understand this advice. Despite the beliefs of numerous corporations the time magazines, television, and radio being the best advertising avenues is gone, and it has been for approximately a decade.
If your target audience is those under the age of forty, it’s likely that they do not consume as much television and radio as past generations. Legacy media is currently dominated by the sixty-five and older demographic; coming with a hefty price tag attached to it.
Innovative technology is undergoing development; providing transparent and efficient advertising outlets for emerging companies. NOIZ is a blockchain solution which provides incentives for both consumers and companies. The transparent concept would allow users control over their data and respond to companies which make Corporate Social Responsibility (CSR) a valued part of their mission statement.
Look Towards Social Media
Despite Facebook’s laundry list of ethical violations and betrayal of consumer trust, social media remains an effective and far less expensive advertising option than legacy outlets. Millennial entrepreneurs are proving Instagram to be an effective way to advertise a business.
Twitter can also deliver quality returns if startups invest sweat capital in creating a presence on the platform. While Facebook continues to have transparency issues, companies can make easy use of their advertising platform to reach their target audience.
Social media is a great way to help advertise your company and build grassroots interest in what your brand has to offer.
Give As Many Interviews As Possible
With digital media being so prevalent, there will likely be an online outlet which covers your brands vertical. Journalist databases like Muck Rack make reaching out to reporters in various fields extremely easy.
Although, as a journalist who receives a number of robotic pitches — if you or a PR representative reaches out to a journalist; make the e-mail authentic and to the point. No reporter wants to read two-thousand words which look like it was sent to one-hundred people who fit specific criteria.
Giving interviews to various publications is a great way to build relationships, build your brand online, and it will definitely highlight your business to entirely new audiences. The more open your startup, the better results you will find in the digital sphere.
Brands that are relatable; build around openness, transparency, and a willingness to speak with the press are far more likely to stand out than those who are cold and robotic. Building a quality product is important, but being genuine is extremely important to millennial and post-millennial consumers.
Stick To Your Budget
Your advertising budget should never take away from developing your actual product or delivering the service your brand provides. While making sure your startup receives exposure, efficiently spending your advertising budget will prevent long-term financial problems for your company.
Taking resources away from other areas of your business is never a good option when you have already exhausted what was set aside for advertising. A quality product will eventually speak for itself, so do not recklessly spend money on advertising when data shows you that it isn’t necessary.