As a new business, you have a lot of catching up to do to compete with the established businesses in your market.
This isn’t a bad thing, you also have the opportunity to build your brand in the way you want and learn from your competitors along the way.
The key to fast growth is to formulate an effective strategy and use the right channels to maximise your reach when starting out as a new business.
In this article, we’re looking at 5 of the most effective ways to do exactly that – reach the largest possible audience in the most effective way.
Public Relations (PR)
PR is the process of managing the spread of information. When used by businesses to promote their brand or services, it’s an incredibly effective way to reach a targeted audience.
It’s also one of the best ways to make new relationships and connect with businesses and influencers in your industry. This can open up doors as a new business, and pay off down the line, too.
Social media is one of the quickest ways to reach target customers for most businesses. You will almost certainly find some of your customers on at least one of the major social media platforms.
Reaching your audience is easier said than done, however. You need to formulate a social media strategy that targets your audience with the right kinds of information, and delivered in the correct format.
It’s also important that you are active on social media. Users turn to social media as a way of communicating with brands and businesses, and they expect to be heard. The more active you are on social media, the larger and more effective your reach will be.
Marketing is one of the longest-running, most tried and tested, and effective ways to maximise your reach when starting out in business.
The thing that changes over time is the technology used to perform marketing, the core principle is still the same; marketing is used to identify your customer’s needs and how you can best serve the market.
Some of the most common forms of marketing in the current landscape include:
- Digital marketing
- Social media marketing
- Content marketing
- Email marketing
- Video marketing
It’s a case of figuring out which type of marketing is best suited to your business and industry, and formulating a strategy.
Advertising differs from marketing in that it’s the process of making your business, products, and services known to an audience or marketplace. As opposed to identifying your customer’s needs through marketing.
Common types of advertising are placing adverts in print, such as newspapers and magazines. Broadcasting video advertising online or on TV, and various forms of digital advertising.
It’s a way to instantly break into a market and be noticed. There is a cost involved, so budget is going to be the deciding factor for most new businesses.
Newsletters or email marketing as it’s also called is one of the more targeted ways to maximise your reach.
By setting up an email capture form on your website or through paid advertising, you can collect a list of emails from people interested in your business.
You then have the power to choose when, how, and what form of marketing you’re going to use to communicate with your list. Making newsletters one of the most targeted methods of maximising your reach as a new business.