AJ Ferguson
•
May 30, 2024
So, you've either just launched or have been tracking some early success with your startup and are eager to get the word out about your amazing product or service. You know that advertising is the key to attracting customers, but before you dive headfirst into the world of digital marketing, it's essential to be prepared. In this guide, we'll walk you through the steps to take before embarking on your advertising journey, including choosing the right platforms, setting a budget, and managing expectations.
Before you can start advertising, you need to decide where to allocate your resources. The choice of advertising platforms depends on your target audience and your product or service. Here are some popular options to consider:
Paid Social
Platforms like Facebook, Instagram, and Twitter offer excellent opportunities for reaching a broad audience. Think of these platforms as “disruptive” marketing / advertising as most of these customers aren’t sitting on the platforms to shop – they’re there to interact with the accounts they want to follow. This is where YOU, as the brand, shop for prospective net new customers by enticing them with visually appealing content showcasing your product or service. Casadigi Media recommends this as a starting point for any brand looking to make immediate changes to your new visitor / customer flow.
Search Engine Marketing (SEM) / Paid Search
If you want to capture users actively searching for products or services like yours, Google Ads is a go-to platform. Casadigi Media likes to call this “intent-based” marketing / advertising since the consumer is beginning their shopping experience by looking up something they need at this time. We’ll utilize strategic targeting to aim for the keywords that they’re looking up andare related to your business and product.
Email & SMS Marketing
Building an email list from day one is crucial. Email marketing is a cost-effective way to nurture leads and convert them into customers. All of the work you do to acquire net new customers in the previous channels in the top-of-funnel eventually trickles their way down to email and SMS. The consumer took a chance on your brand so now you have to nurture their loyalty, get them to return, and ultimately foster them into your brand’s community.
Influencer Marketing
Partnering with influencers who align with your brand can introduce your brand to a broader audience. The key to success is to find a good mix of macro and microinfluencers that align with your brand’s vision & voice – you don’t need to find the most big-time influential social media users so long as they have a following that aligns with your brands and a high engagement rate.
Moderation Is Key
Often, brands decide to throw a lot of money towards platforms with expectations that they’ll receive immediate results. This is a costly error as most of these companies end up burning through their budget with a lack of performance. Start small and scale your way up month-over-month after testing various concepts across the channels you begin on.
Consider Your Goals
Your advertising budget should align with your business goals. Brand awareness is far more effective in social media advertising than in SEM. You also don’t need to nearly spend as much budget in order to get a vast number of eyeballs on your ads. Be warned though, the algorithms these platforms use are very good at doing only what you tell them to do. An awareness campaign is notoriously only going to serve ads to those who will simply breeze by while a conversion campaign will be far more costly in exchange for higher intent shoppers. Depending on where your business stands, perhaps there is a focus on acquiring new customers – the best way todo this is through social media advertising while Google is great at capitalizing on browsing shoppers.
ROI Expectations
Understand that advertising is an investment, and results may not be immediate. Set realistic ROI expectations, and be patient as you refine your campaigns. It takes on average 60-90 days from campaign kickoff to start seeing conversions flowing through. It takes even longer if the initial strategy needs to be tweaked further after determining certain concepts aren’t as effective.
Testing Phase
In the early stages, allocate a significant portion of your budget to testing and experimentation. This will help you identify the most effective strategies for your startup. Casadigi Media recommends that brands looking to acquire new customers spend nearly 70-80% of their budget on prospecting campaigns on Meta. The remainder can be divided up between your retargeting and retention campaigns with the majority focusing on retargeting. Remember: all of your efforts should be focused on acquiring new customers, obtaining their information, and utilizing email and sms marketing to convert those customers again at a much smaller cost.
Launching a brand-new advertising platform for your startup can be exciting, but it's essential to manage your expectations:
Results Take Time
Don't expect overnight success. Building a brand and attracting customers through advertising is a gradual process. Be prepared to invest time and effort.
Measure and Adapt
Monitor the performance of your advertising campaigns closely. Use analytics tools to track key metrics and adjust your strategy based on what works and what doesn't.
Iterate and Refine
Advertising is not a one-and-done effort. Continuously iterate and refine your campaigns based on data and user feedback.
Be Flexible
The digital advertising landscape is ever-changing. Be open to trying new platforms and strategies as opportunities arise.
Seek Expertise
Consider enlisting the help of professionals or agencies with expertise in digital marketing. They can help you navigate the complexities of advertising and maximize your ROI.
In conclusion, launching your startup into the world of digital advertising requires careful planning and preparation. By choosing the right platforms, setting a realistic budget, and managing your expectations, you'll be well-prepared to embark on your advertising journey and drive growth for your startup. Remember that success may not come overnight, but with dedication and smart strategies, you can achieve your advertising goals and take your startup to new heights.
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