As a startup a company has lot to face in terms of challenges. Be it financially or mentally or physically. A startup needs nourishment as a small new born baby which needs each and every aspect to make its presence in competitive world. For making a startup to a global empire it has been very crucial to understand those aspects which are significant for its development. For any business to succeed it needs a strategy to overcome the shortcomings and highlight the key features.
A person concerned must be therefore aware of the marketing techniques to grow the startup to Global Empire.
Certain marketing strategies to make your startup go global, the primary functions of marketing and how these are changing:-
Lead generation= lead procurement
- Lead generation is the process of generating leads or getting probable customers for the product or services. So it primarily talking about the production rather than obtaining the customers.
- Lead procurement is much broader term which is talking about obtaining the customers through effort and care. This approach showcases the use of quality rather quantity in marketing. Whatever we are doing to market the services, though we are less in quantity but the quality of customers are much better. We are attracting them in lower quantities so, less effort is required for high quality customer procurement.
- Lead generation is a vague term and does not even talk about obtaining the customer. Customers are already in the market. We just had to procure quality customers perhaps in smaller number but with greater efforts and effectiveness.
Prospect conversion= prospect influence
Prospect conversion is the ability to convert the probable customers into paying customers. So, again it is not us who are going to convert the customers to pay. It is already in the mind of the customer whether they are going to pay for it or just be a probable customer.
So we need to influence the customer rather than convert them. Thus prospect influence is the much better term to be used for making global presence. Influencing is something which can change or affect someone’s behavior or choices. We have no direct control over anyone’s way of thinking and making decision but we can influence the choice or behavior by focusing on the facts which are mutually beneficial.
Account development= relationship building
If for any company a customer is a moving bank account, this is not going to help the company anyway. Companies look at their customers as their account developer who will help in their revenue generation but they do not realize the importance of building trust and faith with them. This moves the company away from what they really need to create is mutual relationship.
Rather than looking that the customers like a moving bank account you need to think more on how to build the relationship of trust, faith and reliability with the customers. There is a direct correlation between how we gain revenues and the level of trust we maintain with the client. Even if there is no relevance of your interaction with the customer, in terms of product or services, your interaction will be of great value for creating brand image. Things like keeping our word, clarifying the queries and other issues which have no significant value for your brand or product, have an interaction with the customer will help in creating a strong relationship bond between the customer and the company.
Practical tips to boost marketing effectiveness:
- Define your ideal client: Describe about your ideal client, so that the customer can relate himself with the company.
- Increase lead quality: Focusing more on quality rather than quantity will be very much beneficial.
- Screen your prospects: Before making a final decision, talk to the client over the phone to get to know whether it is worth spending time and efforts.
- Don not underestimates small gestures: Keeping your word and helping the client in solving the query or delivering the product on time are those minute things which as to be kept in mind for creating a brand value in the mind of the client.
So, before moving to any conclusion, make yourself clear as to what strategy you would apply for client procurement and how many of the leads are actually getting converted. Are your marketing efforts paying you the results in the form of paying clients?