Bikky Khosla | 22 May, 2012
is the lifeblood to any business, and it's absolutely vital when an
enterprise is just getting started. Most start-ups are aware of this,
and in fact, when starting their prospects, marketing is usually
considered by them as a brain-thinking exercise. They start the ball
rolling by setting goals, devising strategies, and hanging a lot of
hope on it. But there are many examples where these efforts don't
continue. As a result, success is hardly met.
does this happen? At the initial stage of their business, many
entrepreneurs lure themselves to setting big goals, which sound good
but are unrealistic. But sooner or later reality strikes, and when
they start realizing that these goals are really unattainable, they
lose their enthusiasm. And when the direction is lost, their
marketing loses effectiveness. It's very important for start-up
enterprises to set realistic goals, and pick the right direction from
the beginning, and stick to it.
if you are like majority of start-ups whose marketing budget is
can't spread your marketing activities too wide, and it's why you
must be choosy enough while picking up the goals. I recommend to
focus only on 4- 5 marketing objectives at the initial stage and make
sure that you have the financial capability to achieve them.
I think marketing objectives should be specific, measurable, and time
bound. The plan should include a schedule of key tasks, what will be
done, how and by when. In addition, it's always wise to set the goals
in terms of customers. For example, you may set an objective to
increase the number of your customers by 500 during a financial year.
Here, market research (at least minimal) is
crucial as only when you have the numbers, you can set realistic
firms, and small and medium enterprises (SMEs) usually find it difficult to develop a marketing
strategy as it demands time, resources and money to an extent they
cannot afford. To get rid of this I think they should go for lean
marketing approaches as much as possible. For example, relying on
online B2B ads, expanding online presence, getting involved in social
media, doing some public relations, going for e-mail marketing and
guerrilla marketing tactics, etc. can help them a lot.
a business can be wildly fulfilling, but at the same time business
mortality rates have always remained high among start-up enterprises,
and here I think poor, haphazard marketing is one of the biggest
blunders. Of course, lack of funds is a curse a young enterprise
cannot easily lift, but despite that successful marketing is possible
– by setting realistic goals, choosing cost-effective tactics, and staying focused.