How to Achieve Market Positioning
When investors look at a startup, the one thing they want to see more than anything is revenue traction, or momentum. The first step to building excitement in your startup is often to… Get the word out- While a traditional PR route can certainly help generate interest in your startup, investing big money may not be the most prudent move, especially at this stage. Luckily, by taking a do-it-yourself approach, you can still launch an effective campaign. The key to generating buzz in the press is building relationships – with bloggers, reporters, and anyone who can put the word out about your startup. The best way to do this is to give the press what they need – a good story, insightful quotes, and on-topic content. You can add to your value as a press contact if you can also… Be an expert in your field- Knowing your space, the market players, and the latest developments in your field can help you be a go-to source for content, and allow you to build relationships in the press and beyond. Strive to be at the top of your niche—the more recognition you can get as a knowledgeable insider, the better your reputation, and the more attention your startup will receive. Don’t be afraid to specialize, if that helps you stand out, but also don’t hesitate to… Follow the trends- Pay attention to the latest trends – what types of companies are getting funded, and why? Then do your best to innovate—whatever is working, try to do that different and better. In other words, your product should be both relevant and distinctive. To get this across to the market, you need to… Build a brand- Good branding is critical, and will help you stand out in a crowded field. In marketing, be clever, and consider the unconventional. Don’t be above a publicity stunt, but only if it is cost-effective, and in-line with your overall strategy. Offer value through content marketing that will educate and entertain. Whatever you do, you must develop a target market and… Know your customers- Undoubtedly, the biggest key to gaining revenue traction is building your customer base, and to do that you must know who they are. What do your customers want? How are you helping them, and how are they using your product? What are their interests, and where can you find them? Cultivating word-of-mouth is fine, but make sure you have a complete marketing strategy as well. Revenue traction, simply put, is when your company starts earning money through organic transactions. It shows that your product is in demand.
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