A startup’s go-to marketing strategy- decoded
If your key metrics include bringing Customer Acquisition Costs down while driving better ROI, then Content Marketing is your best bet!
Every startup or business needs two main nutrients to grow and rule the market: first, the idea itself and second, the marketing of the idea. Everything else will fall in place if these two are taken care of. But if they are neglected, no other applied strategy will work.
Over time, Content Marketing has proven to be one of the most cost-effective marketing strategies a Startup can adopt.
Branding using content first made its appearance in Jon Deere’s ‘The Furrow magazine’ in 1985. Since then, content marketing has tremendously transformed the way a business runs and attains its customers.
Here are 5 reasons, why your startup must get a go on Content Marketing.
1. Drives better ROI
This is probably the no 1 reason why a Startup should resort to content marketing in his marketing approach. According to business2community.com, content marketing is 62% cheaper than traditional forms of marketing. For each unit of money you spend, content marketing generates approximately 3 times more leads than you can achieve from other forms of traditional marketing. This cost-benefit analysis only goes on to prove that Content Marketing drives better ROI.
2. The sword of Inbound Marketing
Content marketing can be seen as a subset of inbound marketing.
Content Marketing is a clearly defined strategy to attract potential leads and retain them into the Marketing Funnel by creating and distributing relevant Content that will drive favourable action.
Content marketing is hands down, a key to gaining inbound customers. Unlike outbound marketing, inbound marketing generates 3X more leads. Outbound marketing focuses on creating brand awareness to an audience that might not even include potential customers. The process requires more time, resources and money for attracting an audience that might not even feel the need for the product. Inbound marketing, using content, on the other hand, will lead the customer directly to the business. Customers who are in search of a product or service that the business provides, will inevitably discover the latter. This results in a higher rate of lead generation per unit of marketing money.
3. The leader of Brand Recall
Unlike other forms of marketing whose branding is only ephemeral, Content marketing creates brand recall. Gone are the days when customers were only looking for brands or tags. Today, the only game that plays is Value.
Traditional Advertisements are today seen as interruptions and hence customer acquisition costs are high. The only alternative then to sell is through content.
People view content because they want it. This content can take any form- text, infographics, data charts, videos, or even answers to questions. When people start to find a piece of content useful, they start to value the opinion of the author. This builds trust and in the long-run, recall.
4. Leads to Brand Loyalty
Content marketing is by far the best way to create a long-lasting relationship with the customer. Not only does content marketing create brand awareness, it also gives the customer insights into the company. In other words, it educates customers who are looking for solutions to a particular problem.
Research shows that more than 65% of customers research a product online before buying it. There is an ocean of content clutter on the world wide web these days. The only way to stand out of this clutter is to show the customer the value that they will be buying into.
Customers engage and remain loyal to a brand that sells a service in a way best liked by them. Content marketing is about creating that long term relationship with the customer and showing them your care.
5. Builds Trust with the Brand
Brands tend to focus more on product features than in the benefits it offers to the end user.
Content Marketing is a way of marketing a product without really mentioning it at all. The focus, in this approach, is more value-driven than sales-driven. Customers have the right to know why they are buying a certain product. When a business focuses more on the end user's needs or problems, they start to build trust in the business. In return, they will value its product over competition's.
A Startup looking for Growth while keeping costs low must consider Content Marketing as his go-to Strategy.
Natasha Lorraine Menezes is a Marketer with previous experience in Myntra, Reliance Retail and WGSN. She is mentor at Bhopal Smart City, guest Writer for Deccan Herald, Times of India, YourStory & Entrepreneur, and a Speaker at Startup events. She is Founder of The Words Edge, a Content & Digital Marketing company.