What a rollercoaster two years we’ve had with the dreaded C word! The coronavirus pandemic has made many changes to the way we work. From hybrid working to the proliferation of video calls, one thing is for sure life will not be the same again for many of us post covid. Perhaps this pandemic has given you chance to reflect on your career aspirations and you’ve decided to launch a new business. If so, this blog is just for you Icon’s top tips for launching a new business.
1. Who is your target market?
If you’re launching a new business understanding who you want to market to is key. You need to understand your target audience; what is their motivation to purchase? What will push them over the line? Gaining an understanding of this will help you secure your all important sale. If you already have customers what is their persona? Young/old, time poor, cash rich creating a persona of your ideal customer should be your first step in your marketing activity.
2. What is your USP?
Most likely you are entering a competitive market. What is unique about your proposition which sets you apart from your competition? Give your purchaser a reason to choose you over another business. Finding this is key to distinguishing you to your purchaser.
3. Don’t become overwhelmed
In this digital era the options to market your business are endless. Finding the marketing activity which will give you the best ROI the key to your success. So, whether that’s a strong presence on social media or first rate website. Pick your tools wisely to maximise your profits.
4. Look for the quick win
Icon works with many new businesses and we understand that marketing spend can be tricky in your first few months of trading. So, utilising longer burn techniques such as SEO could easily swallow up your all important marketing budget without seeing an immediate return. Find the quick win and utilise this then invest in longer term strategies once the till starts ringing.
5. Analyse your data
If you have a website, make sure you are accessing Google Analytics to understand what works and what doesn’t. If you don’t there are other areas where you can gain meaningful insights into your business. Use this data to better inform yourself of your next steps in marketing.
6. Don’t overlook your existing customers
Once you have gained a new customer make sure you are communicating with them whether that’s a monthly newsletter or social media posts. Reaching out to existing customers is far more cost effective than trying to find new ones.
Part two of Icon’s top tip for launching a new business will be coming up soon. If what you’ve read has whet your appetite get in touch for an informal chat kiesha@iconmarketingcomunications.co.uk 07979940526.