INTRODUCTION
According to Statista, more than 60% of startup founders in the United States identify acquiring new customers as their top concern. At the same time, an analysis by CB insights recognizes “no market need” as one of the top reasons startups fail.
While some startups do fall victim to a bad product-market fit, others may need to focus more on educating their target audiences on how their product or service can be used.
Following are some tips B2B and B2C startups can use to showcase the need for their product or service.
HOW TO EDUCATE PROSPECTIVE CUSTOMERS
Develop buyer personas. Before you take action, create detailed descriptions (or personas) of people who embody the characteristics of your target audiences. Each persona should have a name, demographic details, interests and behavioral traits so you can identify their wants, needs and pain points. This will help you develop tailored messaging that is more likely to resonate with your prospective customers.
Create content. Content marketing is one of the most effective ways to educate customers and showcase your expertise. This is typically a long-term strategy, as it takes time to establish trust among your prospects. That means you’ll need to create an arsenal of diverse content pieces like blog posts, videos, webinars, infographics and listicles. Remember to position your product or service as a solution (or a better solution) for your prospective clients’ pain points, but avoid being overly sales-y in your approach. To stay top-of-mind, aim to create at least one new content piece each week and post it to your website and social media channels.
Sponsor content. Oftentimes, organic content needs a boost to reach the right people or more of the right people. For instance, B2B startups can run sponsored content ads on LinkedIn to reach people with specific job titles or within certain industries (among other targeting parameters). B2C businesses, on the other hand, may opt to run interest-focused Facebook or Instagram ads to reach their consumers. Ads on video platforms like YouTube may also be used to amplify the reach of video content.
Practice pull marketing. Sometimes consumers are looking to solve a problem without knowing a specific solution exists. That’s where search engine optimization (SEO) and paid search ads come in. Reference your buyer personas to develop search terms your target audiences would likely use to find a product or service like yours. Then use a platform like Google Ads to research keywords you can incorporate on your website or use in a search ad campaign to appear higher in the search results.
Partner with influencers. Another way to amplify your reach is to work with key influencers in your target industry. For instance, you could connect with a blogger who can explain your product (in their own words) to their audience. You also could form relationships with industry experts to help build credibility among their connections. In some cases, you should consider partnering with organizations or joining groups that can help spread your message.
Use email marketing. While many companies use email to engage current customers, it also can be used to educate prospects. Health tech startups, for example, should use email to share research, product information and educational opportunities with physicians since that is their preferred medium for those types of communications. You also could set up drip campaigns to deliver educational content to a vetted list.
Leverage earned media. Submit articles or pitch your company’s experts to relevant media outlets. This will help you build brand awareness and establish your expertise. In some instances, you may be able to share information about your company or how your product or service solves a specific problem. Enhance the value of the coverage by posting links to your website and social media channels.
Identify watering holes. In-person events and online forums are good ways to get your product or service in front of prospects. Exhibit or speak at tradeshows or conferences to show potential buyers why your product is important. If you’re offering an alternative to existing solutions, you should showcase why your product or service is superior. One way to do this is to directly compare your product with its competitors. You also should insert yourself in relevant discussions in LinkedIn groups or on platforms like Quora.