•| Valuable Marketing tips for product-based Startups: Let’s Debunk:-👩🏻‍💼🏭📦 |•|

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mystartupyatra

8 min readAug 10, 2021

📌Nowadays, the new startup businesses are usually making innovative or technological software products that are basically becoming one of the hitting products or services in the international markets and earning more profits. But, the main constraint which lean startups are basically facing is reaching their potential clients around the world.

In India, the Indian Software Product Round-Table has basically turned up the problem on its head by allowing the CIOs of the global firms for meeting up with the best Indian software product startups at different events in Bangalore sectors. Thus, the cloud-based software-as-a-service (SaaS) is a theme platform that basically runs through much of the lineup markets, but there are also cutting-edge startups in emerging areas like solar power, IoT (internet of things), and computer vision. Many entrepreneurs have basically started out their product-based startup business after developing new and valuable products which they think will be more successful. Thus, many aspiring and successful entrepreneurs usually do not know how to transform their products from a basic idea into a successful product-based business and therefore many startup businesses have quit their business for having low growth in their product selling. In order to get inside the product-based companies, having a decent understanding of OOP(i.e. Object-Oriented Programming) and DSA(Data Structure and Algorithms) concepts and a few hands-on practices can basically allow you for assisting with the job in any product-based startups and building valuable or good projects that would make your resume stand out for joining any product-based startups. The product-based companies usually hire those candidates who basically have their own domain knowledge and who are also familiar with the latest tools, technology, and communication skills basically do not matter when it comes to the recruitment process for the employees. The product companies can also market their products and sell their products to the global market while many service-based companies usually cater to the local market in order to avoid any risks on their platform. The companies will usually allow investing in more profit-based and the time required for the product branding basically allows an increase in the customer awareness of their products and marketing in the case of certain other product-based companies that will be basically global and if any employees want to work for these companies, then, they would basically gain a significant level of expertise in the respected working fields of their specialization while working in any product based company since they might work for a certain number of years by the end on a single product which makes them a valuable asset for the company.

In product-based companies, there are smaller teams, and employee-friendly policies whereas in other service-based companies, there are larger teams and fewer employee-friendly policies. In the early stages, the customers are concerned with only a few aspects of support like spare parts and service. As the market starts maturing, the customer requirements become sophisticated. Product support has to encompass everything that can aid in maximizing customer after-sales satisfaction. According to various reports, job security is usually higher in product-based companies than service-based companies but an employee in a service-based company feels more pressure due to the tight deadlines and targets. The working culture and environment of the product-based companies are very healthy for their employee as there are flexible work times and no restrictions on the working hours.

Importance of product-based startups:-

The product-based startups basically focus on what their product brings to the market table by striving in order to continuously improve the products and ensuring the customers get full value from them. The startups basically believe that a great product most often sells itself in the market sector. Thus, product-driven companies are mostly dominated by product-related teams such as engineering, user experience, and product experts. Product-driven leadership has a background in product management rather than sales. Steve Jobs is an example of a successful product-driven founder. He built a company that basically focuses entirely on delivering the best possible product to its customers. Another example of a successful product-driven founder is Elon Musk who spends 80% of his time with his designers and engineering team developing next-generation products. These successful product-driven companies carefully incorporated sales-driven business ideas into their companies over time. Product-based companies are driven by a plan to introduce products that have good market value and satisfy a wide range of customers. Quality is the king because the companies ceaselessly deal with improving and adding new features to the product utilizing different technologies.

Certain marketing tips for the product-based startups:-

a)Offering loyal customers for product preview:: The business’s loyal customers are a key part of how to promote their company’s product because they are most likely to not only buy it but also promote it to their networks. This can take the form of a private, in-person, or virtual pre-launch party, an online tour, preview, or demo or, it could even be a special invitation to test it out and give feedback. These exclusive offerings to loyal customers reinforce how much they value them and also help to retain their loyalty.

b)Using a special introductory offer:: Other than just announcing the business's new product or service, the business can make it available as a part of a special introductory deal. This deal can take many forms such as discounted pricing, a reduced-rate bundle, or a package, joint promotion with a complementary business, voucher or coupon with purchase, buy one get one free deal, and free gift for every referral. Whatever the business promotion it would be, always be sure for emphasizing that it won’t last forever as customers whose purchase power is limited, either by time or inventory, will feel a more pressing sense of urgency to buy.

c)Running a social media contest:: Social media contests are a fun and easy way of connecting with the customers and bringing in more followers and prospects for the business platform. The Facebook contests bring an average of 34% new customers per campaign, which is a great way to combat the platform's low organic reach. The winners of the Facebook or other platforms giveaway allows gaining the opportunity to be the first to get their hands on your new offering and get it for free or at a discounted rate. For generating more excitement and buyers for the business's new offering, the increased engagement with their social media account will likely allow more attachment with their website put their business in front of the new customers, and creating fun means of connecting with their audience.

d) Using the email platform:: Email is a fantastic platform or channel for getting the word out about the business's new products and it also makes a great incentive for getting subscriber signups in the first place. The business can run an email campaign specifically about the new product offering perhaps even as a series of emails building up to the day of launch or the business may want to announce it as the focus piece of their next email newsletter. This email could go out to their general audience, or, in support of a method for allowing subscriber- or customer-exclusive offers.

e) Writing a blog post:: Whenever the business is promoting its new product or service, it may not have a landing page for customers or subscribers to go to. After all, the new offering could just be an upgrade on an existing platform or account. In this case, the business goal may not be to get more customers but to get their existing customers engaging, or to re-engage dormant customers. Having a blog post written on the newly launched item is a great way to go into depth on all of the details, features, and benefits of the business by including on a landing page, and sharing the link to the blog post via their emails or social media channels.

f)Sharing customer reviews:: One of the best ways to promote a new product is to let the customers promote it for their business platform. If the business takes advantage of some of the ideas (like offering an upgrade or free trial), they can ask them to write an online review of the new service or provide material for a testimonial. Reviews and testimonials will be invaluable when rolling the product out to their more general audience. 84% of consumers trust online reviews as much as personal recommendations.

Some of the best product based companies in India:-

a)Adobe Inc.

Products: Acrobat Pro (multi-device PDF solution), Photoshop (to edit, composite, and create images, graphics), Illustrator (to create beautiful vector art and illustrations on desktop and iPad), InCopy (to collaborate with copywriters and editors), etc.

b)Amazon.

Products: AmazonFresh, Amazon Prime, Amazon Web Services, Alexa, Appstore, Amazon Drive, Echo, Kindle, Fire tablets, Fire TV, etc.

c)Amdocs.

Products: Most of the products are in telecommunication like Amdocs billing product(ABP), customer relationship manager(CRM), etc.

d)Google.

Products: For work and productivity (Google Docs, Google Sheets, and Google Slides), Gmail, Google Calendar, Google Drive (cloud storage), instant messaging and Google Duo, Google Meet(video chat), Google Translate (language translation), Google Maps, YouTube (video sharing).

e)Microsoft.

Products: Microsoft office suite, Microsoft Windows, Edge web browsers, etc.

f)Flipkart.

Products: Flipkart e-commerce website, PhonePe (UPI based mobile payments app)

Thus, the product-based companies can only work if there is any new trendy or valuable product differentiation that leads to additional revenues and this product differentiation is the main motive for conducting experiments for determining what products and product versions to introduce in the near future in order to stay at the top position in the global market position.

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•| Valuable Marketing tips for product-based Startups: Let’s Debunk:-👩🏻‍💼🏭📦 |•|

Written by Dona Ghosh Dastidar