Decoding the key to startup marketing success

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A whitepaper by 20:20 MSL consultants on how startups can promote their business better through content marketing. Compelling content, woven together with imagination into an engaging story can not only generate leads but save efforts and investments on traditional marketing.

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Decoding the key to startup marketing success

  1. 1. Decoding the Key to Startup Marketing Success INDIADECODING THE KEY TOSTARTUP MARKETING SUCCESS Communication for startups can be complex. Nonetheless, it is one of the most GOAL-DRIVEN COMMUNICATION critical elements in the success of a fledgling enterprise. Startups, with their unique FOR STARTUPS dynamics and cautious spending, constantly debate where to place the money on - advertising or marketing, earned media or owned media? Researchers can stop 1 searching for that obscure secret to startup marketing success. It’s simply the sweet spot between content marketing and public relations driven communications. CREATE AWARENESS 2 TRUST BUILDING CREDIBILITY AND 3Corporates are gradually investing in Arrested Developmentstartups heavily…and they have flour- GET AUDIENCE REACHING OUT TO THE TAR- 4ished Although India always had a pool of entrepreneurs, the ecosystem, in RAISING MONEY 5 Global enterprises today recognize the form of investors, mentors, angelthe immense potential of partnering investors and smart talent - that seedwith homegrown startups. Google, in and nourish startups - was missing. Post ATTRACT TALENTSeptember 2012, picked three Indian structural reforms in the Indian economytechnology startups - Mobstac (Bengal- since 1991, this seems to be changing.uru), Neuron Mediatech (Mumbai) and More and more people now dream toSrishti Technet (New Delhi) as vendors start their own ventures. In May 2012, 64for its ‘Let’s Talk Mo’ initiative aimed to such startups - that are less than threeurge businesses to optimize their mobile years old - together received nearly INRpresence. 1,351 crore (USD 250 Million) of venture capital funding, according to research firm Venture Intelligence. Structural economic reforms definitely facilitated a transformation in societal attitudes When the Indian Space Research contributing to this trend. Contextual Association (ISRO) next ferry astronauts aspects such as economic liberalization, to space in 2016, a Bengaluru based tech government support programs, easy FACTORS DRIVING THE GROWTH startup, Captronic Systems, will provide access to credit and information, tech- OF STARTUPS IN INDIA the safety systems for critical parts of the nology advancements and infrastructure »» Availability of funding options launch vehicle. upgrades drove this attitudinal shift. »» Low cost of operation Globally too, the Kauffman index shows »» Low investment in Infrastructure A Pune based startup, Druva Software, that there was a steady average of new »» Increasing success rate of businesses provides retrieval software and enterprise businesses emerging annually between »» Willingness to experiment and take risk backup for laptops and other devices to 1980 and 2005 (about 600,000), and the »» Focus on entrepreneurship by business global clients such as NASA. number of new businesses have been schools increasing year after year since 2006. 01
  2. 2. Decoding the Key to Startup Marketing Success use INGRED IE NTS OF GREAT CONTEN »» Origin T al Perspe ctive sentation “Today‘s generation is creative with a healthy ry sional Pre appetite for risks as elling Sto »» Profes »» Comp ups compared to previous ed to target gro Customiz create »» generations of Indian entrepreneurs. The reasons could be IT and »» W »» Vid POPU technological advances that hite P eos L AR »» Pr apers /e »» On CON has bought businesses and »» Ca ess R eleas Books »» line a rticle TENT »» Bl se St es Socia s »» Pr oduc TACT people closer, the media u ogpo dies sts »» In -p l Con tent »» In t dem os ICS »» e- news »» We erson eve »» Sl fogra phics boom that makes letter binar nts id /ima »» Po s »» Co e Share s lling/ /Online e vents m ges information available to all, Rese arch on somunity m government policies that achieve cial n anag etwo e rks ment encourage enterprise and an embrace of globalization. Besides, newer approaches S OF N adopted by educational TOP 3 GOAL IVEN COMMUNICATIO institutes also broadened CONTEN T DR ement p manag the horizons of creative r relationshi »» stakeholde »» visibility minds.” adership »» thought le MR. Dheeraj Malhotra Founder & Managing Director Comdetec Solutions [IT and Marketing Solutions Firm] piecemeal.Promoting Startups.Is marketing a real challenge? Commenting on this, Mr. Onkar Singh, Senior Correspondent, Data Quest, While establishing startups is a says, “Most of the startups do not hiregrowing trend, promoting the business a communications consultancy due toremains a challenge owing to low brand budget constraints and prefer to manageawareness and high investments that their communication on their own. Fora traditional marketing program calls journalists it is sometimes very difficult BASICS OF CONTENT - DRIVENfor. Business wisdom on the other hand to chase a company for inputs. When COMMUNICATIONsays, the reason nine out of ten new routed through PR the whole processbusinesses fail is because most did not becomes easier, systematic and well »» Identify your TG and the platformsdevelop a marketing plan at the right managed. For startups strong media where they are presenttime (or at all). relationships are very important and »» Create a dynamic database hiring a PR agency can help them build »» Leverage in house knowledge to create A typical startup cannot afford a long lasting relationships with the media content – audio, visual, textualmassive communication campaign to and their target group”. »» Identify opportunities to share contenteducate, promote, market, inform and »» Curate content through social mediaevangelize users to its value proposition. This is where content driven communi- crowdsourcingIt is challenging for unknown startups cations become pivotal. ‘Content is king’ »» Liberally share knowhow with stake-to garner press attention — budgets when it comes to marketing a startup. A holders and facilitate communityare tight, relationships with journalists startup should focus on creating relevant conversationsmay not be that strong and explaining content to attract, acquire and engage »» Content forms: Blog posts, POVs,a new concept is difficult. Besides, a clearly defined target audience and Newsletters, Infographics, Press Notesearly-stage startups usually only employ position the business with a unique value and Industry reportsa few people focused on product and proposition committed to customerdevelopment. Therefore, marketing satisfaction. Content, often proves to beand communications are often tackled an affordable communication tool with 02
  3. 3. Decoding the Key to Startup Marketing Successcontrolled messaging. The need of the effective tool to achieve conversations,hour is to educate startups about the communications and engagement. WHY SOCIAL MEDIApower and value of content. While content is a powerful tool on social media, it is difficult to control messaging Atit Jain, Senior Manager, Voice Tap on this ever changing platform of com- »» Better Brand AwarenessTechnologies, a startup of VAS offering munication. Content driven communica- - which is especially valuable for aeducational products agrees, “Startups tions facilitate proactive engagement new brandLow cost of operationunderstand the value of strong content thereby making it relatively easier toand always look for content creators with control messaging and conversations. »» Reputation Buildingstrong voices and distinct viewpoints that - through repeated communicationwill be a good fit for brands targeting a Your business is your baby. You never of your message onlinesimilar audience. Strong content enables see loopholes as you are passionate andcontrolled messaging and helps develop emotional about your enterprise. Hence, »» More Web Trafficeffective marketing strategies focused a third-eye view by a communications - getting new eyes to your site is hugeon creating memorable engagement agency maybe desirable to come up with for startupsexperiences.” the right communication mix grounded »» More Leads in research and expertise. You will be - win people over on social media well placed, however, if you understand to win them over as customersSocial Media - the how, when and who of marketingThe place to be for your content communications and create timely »» Better Customer Relationships content to engage target groups. - social media provides a way to Social media is a cost-effective way regularly engageto promote a startup considering the At a time when anyone can broadcastbudget constraints. It almost goes their opinions about your venture to thewithout saying that startups usually try to world, content driven communications isdo social media promotion alone owing indispensable for entrepreneurs to con-to financial reasons. stantly engage target groups and drive word of mouth marketing for its products On social media, the value of a and services. Content marketing, build-startup’s products must be obvious, eas- ing networks of influence and constantily accessed and readily available. Digital engagement will work the magic for yourcontent proves to be a credible and cost dream!AuthorsDIMPLE MEHTA | RITIKA KASHYAP | AASHIMA GROVERA MSLGROUP Learning & People Development (L&PD) initiative20:20MSL | visit website: http://2020msl.com/ MSL GROUP ASIA | visit website: http://asia.mslgroup.com/ 20:20 MSL©2012 20:20 MSL. All rights reserved.The content in this point of view is provided solely for informational purposes.This report does not establish any client, advisory or other professional relationship between 20:20 MSL and its reader. 03

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