Despite offering exceptional products or services, many start-ups often struggle to attract customers and generate a big annual revenue. If this sounds like your business, you might be questioning where you’re going wrong and how you can increase your customer base and sales.
Don’t spend another year wasting time on ineffective tactics or poor-performing platforms. Here are three factors that might be stopping your start-up’s growth:
1. Inefficient Marketing
If you’re failing to drive customers to your website or are struggling to grow your revenue month on month, you might not have adopted the right marketing tactics.
To become a realistic rival in your industry, you must embrace different marketing techniques to grab your target audience’s attention and convince them to buy your goods and services.
The options below could improve your company’s growth in 2021 and beyond:
- Email marketing
- Paid and organic social media marketing
- Influencer marketing
- Search engine optimization (SEO)
- Event sponsorship
You also could encourage repeat custom or boost word of mouth by launching customer loyalty or refer-a-friend programs.
2. Poor Branding
Your branding is more than a logo in the corner of your website. If you want to grab your demographic’s attention and encourage them to invest their time and money in your products and services, you might need to work a little harder on your company’s image.
If your branding is subpar, Oxygen Graphics, a creative design agency, can create a professional brand on your company’s behalf. For instance, they can produce a logo to reflect your company’s professionalism, history, and values. What’s more, Oxygen Graphics can work with you to ensure each promotional material produced will feature a clear, consistent message, and will offer an engaging color scheme, design, and tone of voice.
You must also adopt the same image and voice on every platform, which can prevent confusion and improve trust in your business. For example, review your website, social media campaigns, and print ads to ensure they feature the same logos, tone, and messaging.
3. The Wrong Demographic
Don’t make assumptions about your customers. Gather your consumer data to identify the demographic that is buying your products and services, engaging with your brand online, and enquiring about your business.
For example, you should review your:
- Sales history
- Social media insights
- CRM or EPOS system
You also could gain a greater understanding of your customers, as well as their wants and needs, by requesting they fill in a survey or poll. You could learn more about your customers, their preferences, and the problems they experience, which can help you to cater to their every need.
It can take time, hard work, and determination to enjoy business growth, especially when you’re finding your feet in an industry. Rather than throwing in the towel, you might need to change your marketing direction, improve trust in your brand, and target a different market. While returning to the drawing board can be frustrating, a new brand, marketing platform, and/or audience could be the key to your company’s success.