A small snippet from my upcoming book, The Art of Marketing: Innovative Strategies for Entrepreneurs, Startups and eCommerce, which will be available April 5th, 2016. Sign up here for early access and more sneak peeks.
3 Reasons Why Startups Are Forced To Innovate Their Marketing
Startup marketers needs to differentiate themselves from traditional marketers for established corporations that have been here for many decades. They need to have a different set of tools and a knack for innovation. This has lead to a new way of marketing called growth hacking.
Here are three reasons why startups need innovate their marketing:
1. Startups intend to grow exponentially over a short period of time
The goal of startups is to go from zero to millions of users in a few short years. Starting from the beginning, startups need to grow very quick and very fast because they do not have an established customer base as opposed to seasoned corporations who aim to keep steady the growth they have already acquired.
2. Startups have a blank slate
Since they don’t have an established customer base yet, startups can afford to use new ways to extend their reach out into the world. They can afford to break the rules, think creatively and test out innovative ways that might or might not work. Established corporations already have an image and will have a very difficult time overcoming old perceptions.
3. Startups do not have the same amount of resources and funding
This calls for an increased need for innovation — find new ways to do more with less. Growth hacking. They simply do not have enough resources as compared to corporations that may have a dedicated marketing budget. If startups fail to figure out how to market quickly enough the right way, they will go out of business.
Growth Hacking In Action
Take for example, Airbnb, the startup that allows people to turn their home or apartment into a spot that others can rent for a certain period of time. At the beginning stage, the people over at Airbnb needed to find a way to acquire more users and drive their exposure exponentially.
They came up with a genius way. They decided they will piggyback off of Craigslist’s popularity. The problem was that Craigslist did not have a public API that easily made it for others to integrate their services into it. That wasn’t going to stop them. Airbnb reverse engineered their way into Craigslist and successfully set up a bridge between their platform and Craigslist.
For a time, users were given an option to cross post their Airbnb listing to Craigslist, exponentially increasing their exposure.
Eventually, Craigslist put an end to this but if Airbnb never took the chance to try this crazy experiment, who knows where they would be today. They saw a chance and they took it. They innovated.
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I am a creative marketing enthusiast and author of The Art of Marketing: Innovative Strategies for Entrepreneurs, Startups and eCommerce. Sign up for early access and sneak peeks to my new book set to release on April 5th, 2016. It’ll only take 9 seconds.
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