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What You Think You Know About Marketing Your Startup
As a startup you’ve
probably run through your business plan a million times, spoken to umpteen
people – friends, family, mentors, advisors and hopefully, gained few
customers fairly quickly. In terms of marketing, you promote your brand on
social media, send emails and newsletters via Mailchimp at regular
intervals and start an SEM campaign to pull traffic to your website. If
you have an app or website, you also end up sending messages to customers
via SMS Gupshup or Twillio along with in-app notifications.
However, when it comes
to getting insights on your customers and communicating with them, if
you’re relying on your gut instinct, on the homework you did when you
started out, or on the data from a horde of tools that you now don’t have
time to check then you need to continue reading. Here are some
common misconceptions you might have:
I am already aware of what my customers want.
We are sure you do.
But can you pin point when a customer dropped off from your product or service
or how they interact with your business? You need a tool that makes all
your customer data (behavioural & transactional) searchable and
available wherever you are. This enables you or your team to make
better decisions regarding marketing communications based on hard core
customer data.
I already have tools for analytics, email, SMS, push & my
transaction database. I’m covered.
Yes, you are! But
you’re also going crazy logging in to separate tools for each specific action!
Your data is lying in silos on each tool & it’s impossible for you or
your team to make sense of it all & get a holistic picture. It is possible
to access customer data on a unified platform and act on it. It helps you
easily communicate across multiple-channels (Email, SMS, Push
Notifications) and also connects this data to internal systems through
webhooks.
I already communicate with my customers by sending newsletters to
them.
Well, your competitors
are doing much more than that! Triggered messages based on what your
customers do or don’t, on your website or app, have 4X better engagement
rates than traditional newsletters. You need to take advantage of reaching
out to your customers at the perfect time.
I only care about open rates and CTRs. It tells me everything
I need to know.
There’s more to just
open rates & CTRs. And don’t let agencies or marketing professionals tell
you otherwise! There are tools that tell you what actions your customers
have taken on your app/site after customers have opened or clicked on your
message, so you can measure the actual effectiveness of your message. You
can even set ‘goals’ like bringing more visitors to your website, getting more
signups, reducing customer churn/customers slipping away etc. In fact, if
you are an eCommerce portal, it is actually possible for you to treat
every single email as a ‘goal’ where you can actually see sales going up as a result of
your email!
In short, there are
metrics like web visits, time spent on your app/website, sign-ups, CTRs, open
and click rates that are good to know, but they paint a one sided picture
of your business. Knowing your customer takes a different set of metrics
altogether. And when you use those metrics to communicate with your customers,
it turns your customers into brand ambassadors for your business via
intelligent customer communication and of course, profitability.
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