We realize that perhaps you have an excellent idea for a business with the will and potential to succeed. You’ve marketed it, but in its marketing strategy, there is something still not right to take the business off and have it fly on its own.
In Latin America, HubSpot’s State of Inbound 2016 report states that the most important priority for small companies is not creating new customers but converting them.
The most significant challenge for small businesses is securing ROI, identifying adequate technologies, and secure budgets. On the other hand, a feature most common to small businesses from large corporations is precisely searching for executive support.
Your project may have secured a marketing and sales budget and is confident about its launch to market with and start a promising client portfolio.
Chile’s production innovation agency CORFO launched a profile of Chilean entrepreneurs and their different features. Some of the biggest challenges for groups of them is that:
This instinct and closeness to the customer can become one of the most important competitive advantages of start-ups, leveraged through Inbound Marketing.
The Chilean market analysis firm Adimark GfK runs a yearly survey of brands and customer behavior. The Chilescopio Chile3D 2016 study shows that brands have a particular image problem. When asked how would they qualify, in a word, different brands, they call them:
Consumers in Chile, then, ask for a sense of consequence:
With this background, many people look for online marketing as a key tool to leverage start-ups and small businesses in the new digital environment, where customers revise and make online quotations before choosing products and services.
However, there is a difference between using a set of marketing tools, such as content generation and social media advertising and analysis, and a marketing strategy. Tools on their own don’t secure the company's growth, as they fail to align with Smart goals and previous market analysis.
A good way to align in strategic digital marketing and sales is with Inbound Marketing. This model, in particular, helps in the increase of growth of a startup in several ways.
Startup businesses work differently than the rest. Many times, they were created to address a specific market issue. Therefore, it is important to focus. Inbound Marketing helps companies better invest time and assets with qualified lead management.
One of the most common problems of start-up businesses is the amount of time lost pitching on the phone, email, or website's product or services to leads just browsing and never intend to buy. With the use of workflows, companies can nurture a quality relationship with prospects along the sales funnel. With lead scoring automation, start-ups can identify with more precision how to better address a potential client, assess their concerns and revise whether they consider options o negotiating a sale.
Companies can optimize their resources with real-time analytics, analyze in real-time, align marketing and sales, ensure higher lead conversion rates, improve the focus on content offers, and foster quality relationships with specific segments of potential customers.
Instead of pitching a standard product catalog, content marketing fosters a conversation and a debate: what problems do potential customers have or what type of alternatives they are looking for.
This contributes not only to the market but the improvement process of products and services. For example, through content strategy, a specific behavioral analysis, and the conversation you make with customers, services can be upgraded, new business units can be opened, or the marketing plan can focus on particular features.
One of the most reviewed marketing strategies is digital advertising via Google Adwords or other marketing efforts via social media.
Buyers focus their money on particular search options and profiles. Because of their size and proximity with the ideal customer, Startups have a competitive advantage. According to Start-Up Chile, “there’s nothing better than a founder of a Start-up to plan those tools or ads that could be attractive to users fit wants to get.”
As companies are just entering the market, they have not yet built a strong brand, image, or reputation through time.
The greatest asset from Startups in the region is knowledge, expertise, and passion for the solutions they deliver. This capacity can be promoted in blogs and content offers as part of a digital marketing strategy, as knowledge, orientation, and shopping experience are the competitive advantages of 21st-century companies.
Google Adwords can be a useful tool but can only add views and visits to your website and social media. Furthermore, it can quickly open the door to leads for a brief period of time, which can lose interest as paid advertising has lost credibility against organic content searches. In addition, this does not secure value for contacts, as they have low conversion rates.
An entrepreneurial Inbound Marketing strategy eases up traction with potential leads, as they are nurtured along the marketing and sales funnel, with useful information that can help potential customers make decisions, refocus product offers, or realize that specific people don’t qualify for your sales.
Even if paid digital ads help you calculate an ROI, according to Start-Up Chie, “the key to the success of digital campaigns, many times I in regular optimizing, analyzing metrics and decision making. That is why it is important to have a specialized team –internal or external-, to monitor campaigns.”
That way, you can test how your message is more effective in conversion and prove to executives and funding organizations that the company has positive projections. The entrepreneurial ecosystem highly values this scale-up potential. A good example is a Scale from Start-Up Chile. Those who have gone through seed capital programs can access a continuation fund, offering 60 million pesos to Chilean companies needing additional capital for growth and expansion.
What do they ask for?
“Disruptive innovations that respond to unmet and incremental innovation, that prove greater value than other existing solutions in the market. These companies need to demonstrate significant traction, i.e. must have tested the solution and business model with clients and/or users, and have adjusted the product or service to a focused market.”
In fact, 30% of project valuation to be delivered to Scale depends on the business model definition, in terms of market fit, identifying and describing customer and user, scalability, and growth potential.
By 2016, consumer trends cannot just be measured by demographic groups. Market intelligence today does not only need to review demographics but understand what is going on in particular people’s minds. Buyer personas have challenges, pain points, and particular concerns.
According to HubSpot, “A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing clients. When creating your buyer persona(s), consider customer demographics, behavior patterns, motivations, and goals. The more detailed you are, the better."
How do you think your start-up can leverage content and inbound marketing to scale up?
My name is Izzy and I am a co-founder of IDS, an award-winning HubSpot Solutions Partner. I lead our team of consultants who provide professional guidance to help businesses implement the HubSpot CRM platform migrate, integrate their tech stack to HubSpot to create a seamless environment for sales reps to use. There is nothing I love more than solving the challenges that come up when someone wants to migrate an old system or integrate their tech stack with HubSpot - it's like a puzzle!Twitter Linkedin